For the Quarter Ending December 2025
North America
• In the USA, the Ethyl Cellulose Price Index fell by 10.32% quarter-over-quarter, driven by imports.
• The average Ethyl Cellulose price for the quarter was approximately USD 15378.33/MT, reflecting landed costs.
• Ethyl Cellulose Spot Price fell on abundant Asian offers, pressuring landed bids West Coast hubs.
• Ethyl Cellulose Price Forecast expects near-term stabilization, with limited upside until downstream restocking supports demand.
• Ethyl Cellulose Production Cost Trend remained stable as wood-pulp and energy indices showed little movement.
• Ethyl Cellulose Demand Outlook subdued, with coatings and pharmaceutical buyers deferring restocking and maintaining inventories.
• Ethyl Cellulose Price Index eased on CIF declines caused by lower freight and stronger dollar.
• Inventories at Los Angeles hubs expanded, reducing urgency and enabling sellers to offer deeper discounts.
Why did the price of Ethyl Cellulose change in December 2025 in North America?
• Import oversupply from low-cost Asian exporters increased landed volumes, forcing distributors to reduce CFR offers.
• Sharp declines in Shanghai-Los-Angeles spot freight lowered CIF components, transmitting savings through to landed prices.
• Domestic demand remained subdued as coatings and pharmaceutical buyers deferred restocking, maintaining just-in-time procurement patterns.
APAC
• In China, the Ethyl Cellulose Price Index fell by 10.30% quarter-over-quarter, reflecting weaker demand and elevated inventories.
• The average Ethyl Cellulose price for the quarter was approximately USD 15293.33/MT, reflecting range-bound December FOB dynamics.
• Ethyl Cellulose Spot Price remained range-bound as coastal plants maintained output and bonded inventories were available.
• Ethyl Cellulose Price Forecast indicates modest early-year increases driven by incremental restocking and stable feedstock costs.
• Ethyl Cellulose Production Cost Trend showed limited upward pressure as dissolving pulp costs remained broadly unchanged.
• Ethyl Cellulose Demand Outlook is cautious; subdued domestic manufacturing and selective export restocking muted procurement activity.
• Ethyl Cellulose Price Index showed sellers competing for spot amid elevated producer stocks and muted orders.
• Inventory accumulation at coastal warehouses amplified downward pressure, enabling buyers to negotiate concessions on spot tonnage.
Why did the price of Ethyl Cellulose change in December 2025 in APAC?
• Weaker downstream procurement and subdued manufacturing reduced immediate offtake, pressuring FOB offers and market sentiment.
• Stable feedstock costs limited production cost-push, while high operator utilisation increased available volumes for export and domestic markets.
• Smooth port operations and steady freight prevented logistical bottlenecks, enabling suppliers to supply spot cargoes freely.
Europe
• In Germany, the Ethyl Cellulose Price Index fell by 10.39% quarter-over-quarter, reflecting surplus imports abroad.
• The average Ethyl Cellulose price for the quarter was approximately USD 15371.67/MT reported by importers.
• Ethyl Cellulose Spot Price remained pressured as inventories increased and buyers delayed restocking through year-end.
• Ethyl Cellulose Price Forecast suggests modest early-year recovery tempered by Asian oversupply and cautious procurement.
• Ethyl Cellulose Production Cost Trend showed only slight upward pressure from freight and energy surcharges.
• Ethyl Cellulose Demand Outlook remains weak as pharma and coatings draw down inventories, limiting procurement.
• Ethyl Cellulose Price Index reflects Asian arrivals and weak export demand, keeping spot discounts intact.
• Major producer operations remained steady, while distributors maintained elevated inventories, prolonging downward pressure on prices.
Why did the price of Ethyl Cellulose change in December 2025 in Europe?
• Steady Asian exports and aggressive offers increased landed availability, exacerbating surplus and pressuring import prices.
• Slight freight and energy surcharges lifted landed costs marginally, supporting small upward pressure during December.
• End-users drew down stocks post-GMP audits, reducing restocking urgency and thereby keeping spot demand subdued.
For the Quarter Ending September 2025
North America
• In USA, the Ethyl Cellulose Price Index fell by 6.23% quarter-over-quarter in Q3 2025, driven by inventory overhang.
• The average Ethyl Cellulose price for the quarter was approximately USD 17147.67/MT, as reported by CFR LA flows.
• Ethyl Cellulose Spot Price weakened as buyers deferred purchases, pressured by elevated stocks and softer export pricing from China.
• Ethyl Cellulose Price Forecast indicates modest volatility with downticks amid destocking and uncertain year-end industrial demand.
• Ethyl Cellulose Production Cost Trend remains elevated due to feedstock ethyl chloride and cellulose pulp pressures.
• Ethyl Cellulose Demand Outlook subdued as pharmaceuticals and coatings manage inventories, slowing procurement and activity.
• Ethyl Cellulose Price Index volatility reflected smoother port operations reducing logistical premia and lowering short-term landed costs.
• Excess inventory, weak export demand, and cautious producer output combined to depress offers and compress market margins.
Why did the price of Ethyl Cellulose change in September 2025 in North America?
• Inventory overhang from earlier frontloading reduced immediate buying urgency, pressuring market prices downward across importers and distributors.
• Softening downstream demand and cautious procurement in pharmaceuticals and coatings limited spot purchases and price support.
• Lower freight rates and improved port throughput eased landed costs, enabling sellers to reduce offers to regain volumes.
APAC
• In China, the Ethyl Cellulose Price Index fell by 5.82% quarter-over-quarter, reflecting production restraints, logistics.
• The average Ethyl Cellulose price for the quarter was approximately USD 17050.00/MT reported by exporters.
• Ethyl Cellulose Spot Price softened as exporters offered discounts amid elevated inventories, weaker overseas demand.
• Ethyl Cellulose Price Forecast indicates modest volatility with risk of gradual stabilization towards late Q4.
• Ethyl Cellulose Production Cost Trend showed upward pressure from feedstock and energy surcharges, tightening margins.
• Ethyl Cellulose Demand Outlook remains mixed with pharmaceutical restocking offset by downstream destocking, trade uncertainty.
• Ethyl Cellulose Price Index movements influenced by port congestion, yuan appreciation, ongoing tariff-related export disruptions.
• Producers adopted controlled inventory releases, moderating supply while awaiting clearer export demand signals and margins.
Why did the price of Ethyl Cellulose change in September 2025 in APAC?
• Temporary plant curbs and environmental audits reduced regional output, tightening supply amidst global restocking demand.
• Rising wood pulp feedstock prices and energy surcharges increased production costs, pressuring FOB quotations upward.
• Port congestion, inland trucking delays, yuan appreciation discouraged exports, prompting discounts and inventory clearances.
Europe
• In Germany, the Ethyl Cellulose Price Index fell by 6.17% quarter-over-quarter, reflecting excess inventories earlier.
• The average Ethyl Cellulose price for the quarter was approximately USD 17154.00/MT in Germany's CFR Hamburg market.
• Ethyl Cellulose Spot Price weakened amid subdued buying, as distributors prioritized destocking over fresh procurement.
• Ethyl Cellulose Price Forecast remains modestly bearish for coming months given high stocks and muted demand.
• Ethyl Cellulose Production Cost Trend eased as input cellulose ether prices declined, easing upstream cost pressures.
• Ethyl Cellulose Demand Outlook remains weak across pharmaceuticals, food, and cosmetics, constraining purchase activity significantly.
• High warehouse inventories and port congestion lengthened lead times, pressuring Ethyl Cellulose Price Index downward.
• Stable Asian supply and steady exporter output kept offers available, limiting upward pressure on local prices.
Why did the price of Ethyl Cellulose change in September 2025 in Europe?
• Excess inventories and subdued downstream consumption in Germany drove weaker import prices during September 2025.
• Falling input costs in Asia reduced production cost pressures, lowering import offers into Europe.
• Port congestion and inland logistics disruptions lengthened lead times, prompting cautious buying, delaying replenishment.
For the Quarter Ending June 2025
North America
• The Ethyl Cellulose market in North America experienced a slight downward trend over Q2 2025, with an average quarter-over-quarter price decrease of approximately 0.39%. Ethyl Cellulose Spot Price index showed a modest upward correction by June, ending near 18,238 USD/ton after declines in April and May.
• April’s pricing was pressured by accumulated inventories, sluggish demand from pharmaceutical and preservative sectors, and importers’ cautious stance amid ongoing trade tensions, leading to sustained price discounts.
• The Ethyl Cellulose Price Forecast for next quarter suggests a cautiously optimistic outlook given June’s price rebound driven by demand recovery and supply normalization.
• Ethyl Cellulose Production Cost Trend during the quarter saw inflationary inputs in feedstock chemicals and fluctuating freight costs; however, freight rate declines in April helped ease import costs, partially offset by elevated raw material prices in June.
• Ethyl Cellulose Demand Outlook within the quarter initially remained subdued, reflecting restrained end-user activity and deferred procurement, but showed signs of improvement in June particularly from pharmaceutical coatings and specialty sectors.
• Ethyl Cellulose Supply dynamics were heavily influenced by global oversupply, particularly from China, and cautious purchasing behavior among U.S. buyers, resulting in a weak import environment early in Q2.
• Despite increased freight costs and logistical challenges in May, sellers absorbed these to maintain competitiveness, contributing to the continued downward price momentum through the month.
• June witnessed improved supply chain conditions and eased port congestion, supporting a balanced supply-demand scenario and facilitating fresh order placements.
• Currency depreciation of the U.S. dollar against key producing nations in June further enabled suppliers to command higher prices without dampening demand significantly.
• Overall trading activity was marked by conservative procurement strategies, with buyers deploying just-in-time purchasing in the face of economic uncertainty and inventory management priorities throughout the quarter.
Asia-Pacific (APAC)
• The APAC Ethyl Cellulose market, centered heavily around China, showed a slight overall downward price movement in Q2 2025, with an average quarterly price decrease of approximately 0.41%. Ethyl Cellulose Spot Price index trended lower in April and May but reversed upward in June, closing near 18,050 USD/ton driven by cost pressures and demand recovery.
• April saw intensified oversupply as manufacturers expanded production post-Lunar New Year; lower raw material prices and weak export demand from global uncertainties contributed to declining regional prices.
• The Ethyl Cellulose Price Forecast for next quarter is cautiously optimistic amid expected raw material cost increases and improving overseas demand, particularly in pharmaceuticals and nutraceutical sectors.
• Ethyl Cellulose Production Cost Trend during Q2 witnessed raw material cost easing early on, with wood pulp and ethanol prices stabilizing or decreasing, before notable feedstock inflation and energy surcharges emerged in June due to environmental audits and peak seasonal demand.
• Ethyl Cellulose Demand Outlook within the quarter began weak due to cautious global buyers and substitution effects but strengthened in June as importers front-loaded orders anticipating logistical delays and supply tightness.
• Ethyl Cellulose Manufacturing remained stable with high operating rates, but production curtailments due to environmental regulations and regional power constraints in June added supply-side tightness.
• Logistical bottlenecks, including port congestion and transportation delays in major export hubs, constrained operations and contributed to rising export prices in June.
• Exporters adopted a strategic approach of limited inventory release to manage supply glut, reinforcing price support by restricting availability despite underlying demand variability.
• Currency appreciation of the Chinese Yuan against the U.S. dollar early in the quarter had previously pressured export competitiveness but reversed gradually, aiding pricing recovery in June.
• Competitive pressures from regional producers and alternative derivatives influenced pricing strategies, though recent cost escalations and renewed demand have moderated discounting behavior going into the next quarter.
Europe
• The Ethyl Cellulose market in Europe showed a steady downward pricing trend in Q2 2025, with quarterly prices declining on average by about 0.62%. Ethyl Cellulose Spot Price index fell through May and June, closing near 18,160 USD/ton amid persistent oversupply and subdued demand conditions.
• April’s price decline was largely driven by low raw material costs, especially wood pulp, robust Chinese export activity, and destocking by German distributors amid seasonal demand lulls.
• The Ethyl Cellulose Price Forecast for next quarter remains muted due to ongoing high inventory levels and weak consumption across pharmaceuticals and food sectors, although some stabilization is anticipated as logistic constraints ease.
• Ethyl Cellulose Production Cost Trend reflected reductions in key inputs like toluene early in the quarter, with manufacturing benefiting from cost efficiencies; however, logistic and port congestion costs partially offset these gains.
• Ethyl Cellulose Demand Outlook within the quarter was conservative, with downstream industries managing inventories carefully amidst macroeconomic uncertainty and opting for cautious purchasing patterns throughout.
• Ethyl Cellulose Supply was further pressured by rerouted exports from China originally destined for the U.S., leading to oversaturation and price erosion in European markets.
• Persistent port congestion and inland transportation bottlenecks at major hubs like Hamburg and Rotterdam hindered smooth delivery flows, exacerbating inventory imbalances and restraining fresh import activities.
• Despite falling prices, importers maintained low purchasing volumes, focusing on inventory depletion rather than expansion due to economic and industrial sentiment weaknesses.
• Currency fluctuations, particularly a mildly stronger Euro against the dollar, contributed to competitive landed costs but failed to stimulate demand significantly during this period.
• June market conditions solidified the bearish momentum with sluggish demand from food preservation and pharmaceutical industries, compounded by concerns over supply chain reliability and cost pressures, limiting any immediate price recovery.
For the Quarter Ending March 2025
North America
In North America, the market for Ethyl Cellulose experienced significant fluctuations in first quarter of 2025 due to a combination of rising demand, logistical constraints, and varying supply dynamics. The quarter began with a substantial price increase in January, driven by heightened demand from key end-use industries, particularly the food and beverage sector, where Ethyl Cellulose is integral for food preservation and formulation stabilization.
This increase in demand, coupled with logistical challenges such as rising freight rates and congestion at major ports, led to tight supply conditions and upward pressure on prices. Additionally, a notable rise in raw material costs, particularly wood pulp, contributed to the price hikes observed in the early part of the year. However, by February, prices began to decline significantly
Reduced purchasing activity, stemming from weak consumer sentiment and economic uncertainties, led to an oversupply situation, especially following the stockpiling activities by buyers in anticipation of the Lunar New Year and potential trade disruptions. The subsequent oversupply of Ethyl Cellulose, particularly from international markets, combined with declining freight rates and stable production costs, contributed to the downward price movement. As a result, the market ended first quarter of 2025 with a weaker price structure, impacted by cautious demand and an oversupply from key suppliers.
Asia Pacific
The Asia Pacific region saw marked price volatility for Ethyl Cellulose in first quarter of 2025, characterized by a strong recovery in January followed by a significant decline in February. The January price increase was fuelled by renewed international procurement activity, particularly from the pharmaceutical and food sectors, alongside post-holiday restocking efforts ahead of the Lunar New Year. The demand spike, driven by the replenishment needs of international buyers, pushed prices upward. In addition, a slight increase in raw material costs, such as wood pulp, supported the price hike.
During this period, the Asia Pacific region maintained its position as the dominant global supplier, benefitting from favourable trade conditions and logistical advantages. However, in February, prices dropped significantly due to improved supply conditions as manufacturers ramped up production following the holiday season. Furthermore, weakened domestic consumption, slower procurement from downstream sectors, and reduced export demand due to global economic uncertainties all contributed to the downward trend.
Despite the stronger start to the quarter, oversupply and subdued demand pressure led to a significant price correction by the end of the month. Logistical disruptions, particularly during the Lunar New Year, combined with softer international demand, further compounded the situation, contributing to a steady decline in Ethyl Cellulose prices throughout February.
Europe
In Europe, the Ethyl Cellulose market showed a mixed price trend during first quarter of 2025, with notable price increases in January followed by a decline in February. January saw a sharp rise in prices, driven by tight supply conditions and robust demand, especially from the pharmaceutical and food sectors. The appreciation of the euro against the U.S. dollar made imports more cost-effective, which, in turn, exerted pressure on local suppliers to adjust their pricing strategies to remain competitive.
However, by February, prices experienced a significant downturn. This was largely due to weaker demand from downstream industries, particularly within the food and pharmaceutical sectors, combined with favourable supply dynamics. Improved production capacity and steady imports helped ease earlier market tightness. Additionally, the drop in ocean freight rates after the Lunar New Year made imports more affordable, further adding to the downward price pressure.
Increased stock levels from earlier stockpiling efforts, especially in the pharmaceutical and food sectors, led to more cautious procurement strategies, with buyers opting to delay purchases. These factors, along with reduced logistical disruptions and more favourable import conditions, drove the overall price decline. By the end of first quarter of 2025, the European market had experienced a significant price correction, reversing the earlier price hikes, influenced by supply chain improvements and softer demand conditions across key sectors.
