For the Quarter Ending September 2023
North America

The Diethylene Glycol market in North America experienced price volatility during the third quarter of 2023, influenced by diminished consumption in downstream industries. Lackluster demand for polyester resin and plasticizer characterized the first half of the quarter, weakening the Diethylene Glycol market. However, in the latter part of the quarter, there was a surge in Diethylene Glycol market activity. This was prompted by the U.S. Bureau of Labor Statistics announcing a 3.7% annual increase in the Consumer Price Index in August 2023, impacting various industries, including Diethylene Glycol. Rising expenses, attributed to increased production costs in the Diethylene Glycol sector, resulted from challenges in the production process and a spike in crude oil prices. Weather-related uncertainties, notably Hurricane Idalia, also played a role. Reduced production activities led to a DEG shortage, impacting both domestic and international markets and influencing broader market trends.

APAC

In the initial half of the quarter, the Diethylene Glycol (DEG) market in the Asia-Pacific region experienced a decline, driven by subdued downstream market activity. However, as the second month of the quarter unfolded, a significant shift occurred, with prices steadily rising. This shift was primarily due to increased demand from downstream industries and a concurrent shortage of materials. The heightened demand contributed to the upward trajectory of Diethylene Glycol prices. Despite facing challenges such as a substantial increase in production costs linked to surging crude oil prices, the DEG market encountered supply-related obstacles in the latter half of the quarter, including typhoons in the Korean peninsula. These challenges, combined with low inventory levels and reduced supply, led to fluctuating trends in the Asia-Pacific region. On a positive note, South Korea reported an increase in the Consumer Price Index (CPI) during August 2023, contributing to the market dynamics.

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Europe

The Diethylene Glycol (DEG) market in Europe witnessed price fluctuations during the third quarter of 2023. The quarter began with a decline, driven by a bearish market sentiment and lackluster demand from downstream industries. Affordable imports from the Asian market also contributed to ample material supply in European ports. However, as the quarter progressed, there was a reversal in this trend, leading to an upswing in DEG prices. Increased demand played a crucial role in driving these higher prices, supported further by rising Naphtha prices, a critical raw material in DEG production. Despite sufficient material supply, the DEG market faced challenges related to weather disruptions, with heatwaves and heavy rainfall in Germany causing fluctuations in the water level of the Rhine River, a vital transportation route in Europe. These variations directly impacted the import of Diethylene Glycol from other Asian markets, contributing to a price hike towards the end of the third quarter.




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