Polyurethane (PU) Resin Prices: Market Analysis, Trend, News, Graph and Demand



North America

The North American Polyurethane Resin market remained under bearish pressure during the final quarter of 2024, with prices declining by approximately 8% despite seasonal disruptions caused by hurricanes. The primary driver behind the price drop was the buildup of substantial inventories by U.S. suppliers in October 2024, which continued to be drawn down throughout the quarter.

Domestic demand remained weak, particularly from the construction sector, which experienced declining spending. Homebuilding confidence also stayed below the neutral 50-point threshold, signaling a pessimistic outlook and resulting in sluggish product consumption. Export demand was similarly hampered by labor unrest, as the strike between the International Longshoremen’s Association (ILA) and the U.S. Maritime Alliance (USMX) led to vessel backlogs and inventory congestion at ports.

By the end of the quarter, destocking activities accelerated, with suppliers aggressively liquidating inventories. The market remained oversupplied, and purchasing activity was cautious amid concerns over inventory devaluation and year-end tax implications. This combination of ample supply, subdued demand, and strategic inventory reduction reinforced the overall bearish sentiment in the U.S. polyurethane resin market.

Get Real time Prices for Polyurethane Resin: https://www.chemanalyst.com/Pricing-data/polyurethane-pu-resin-1150

Europe

The European Polyurethane Resin market faced persistently bearish conditions throughout Q4 2024, despite improvements on the supply side. As producers returned from summer holidays, supply levels gradually recovered. However, demand from the construction sector remained muted, limiting product off-take and perpetuating weak market conditions.

By mid-quarter, suppliers intensified efforts to clear existing inventories, while extended holiday periods contributed to a further slowdown in market activity. Export opportunities remained limited, with arbitrage windows largely closed and inland trade experiencing logistical disruptions. Attempts by some producers to increase prices in late November were mostly ineffective due to oversupplied market conditions.

As December progressed, producers began reducing production rates in an attempt to stabilize prices amid ongoing liquidation efforts. Nonetheless, market sentiment remained subdued, dominated by sluggish demand and continued inventory sell-offs.

Asia-Pacific (APAC)

The Asia-Pacific Polyurethane Resin market recorded a modest decline of approximately 2% in the last quarter of 2024, primarily due to weak demand from the domestic construction sector. This occurred despite rising feedstock TDI prices, including a notable price hike by major producer Toray Lycra, which increased prices by 30–50 yen/kg for shipments post-November 1st.

In Japan, polyurethane foam inventories saw a marginal decrease from 4,047 thousand tonnes to 3,994 thousand tonnes in October, according to the Ministry of Trade and Industry. Meanwhile, polyurethane resin production increased by 10.3%, rising from 14,442 tonnes to 15,942 tonnes. Shipments also grew by 10.8% to reach 15,081 thousand tonnes, adding further pressure to an already soft market.

Market sentiment remained largely bearish, influenced by tepid activity and disruptions caused by the U.S. holiday season, which limited inventory movement to Japan. Nonetheless, stable feedstock prices and moderate inventory levels helped support relative price stability across Japanese warehouses.

Get Real time Prices for Polyurethane Resin: https://www.chemanalyst.com/Pricing-data/polyurethane-pu-resin-1150

 

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