For the Quarter Ending March 2024
North America
In the first quarter of 2024, the Polyimide market in North America witnessed a significant upward trend, primarily driven by increased demand from downstream sectors, notably electronics and automotive industries. The strong demand for Polyimide-based products like flexible printed circuit boards, aircraft components, and automotive parts played a pivotal role in driving the overall price surge observed during the quarter.
However, amidst this rising demand, supply limitations emerged as a notable challenge. The tightening availability of Polyimide raw materials, particularly aromatic dianhydrides and diamines, strained market access and contributed significantly to the upward price momentum. Petrochemical refineries and chemical synthesis plants encountered difficulties in meeting the growing demand for Polyimide feedstocks, further complicating supply dynamics.
The intersection of escalating demand and supply constraints highlights the complexities inherent in the Polyimide market landscape. Overall, the North American Polyimide market encountered challenges such as supply restrictions amidst heightened demand, increased production costs, and tight supply of feedstocks during the first quarter. Prices in the US market remained elevated in Q1 2024 compared to the previous quarter.
APAC
During the first quarter of 2024, the Polyimide price trend in the APAC region consistently showed an upward trajectory. This upward movement was influenced by a combination of factors impacting both supply and demand dynamics. Supply constraints led to a tightening of available Polyimide in the market, while strong demand persisted across various sectors, notably the non-manufacturing and automotive industries. Despite challenges such as declining exports and uncertainties in the property sector, the Polyimide market in China demonstrated resilience, underscoring its importance across diverse industrial applications. The tightening of supplies observed during Q1 2024 contributed to the overall rise in Polyimide prices in the APAC region. Despite continuous efforts to bolster macroeconomic policies and stimulate economic growth, the supply of Polyimide failed to match the escalating demand from both domestic and international markets. Demand for Polyimide in the APAC region remained robust throughout the quarter, buoyed by factors such as sustained growth in vehicle sales, particularly in the segment of new energy vehicles (NEVs). In conclusion, the price of Polyimide Resin Powder in China remained strong during the period, with the price reaching USD 19650/MT in the last month of the quarter.
Europe
Throughout the first quarter of 2024, the Polyimide price trend in the European region displayed a consistent upward trajectory, driven by a combination of factors influencing both supply and demand dynamics. Initially, prices experienced rapid escalation in the early phase of the quarter, followed by a gradual surge in the last phase. This pattern can be attributed to the interplay between fluctuating supply conditions and evolving demand dynamics within the market. The heightened demand from the Automotive industry, coupled with constrained Polyimide supply, played a pivotal role in driving the overall upward trend in prices. The automotive sector's reliance on Polyimide for various applications, such as wire harnesses and sensor protection, intensified competition for available Polyimide resources. Among European nations, Germany emerged as a focal point for significant price escalation, driven particularly by robust demand in the Medical industrial devices manufacturing and Automotive segments. The flourished demand from these sectors further exacerbated supply constraints, leading to heightened price pressures. Overall, the Polyimide prices remained on an upward trajectory throughout the first quarter in Europe. In Germany specifically, the prices of Polyimide witnessed a notable increase compared to the previous quarter.
