For the Quarter Ending September 2023


North America:

Throughout the third quarter of 2023, the North American Ethylenediamine (EDA) market experienced a consistent decline in prices. In July, EDA prices notably decreased, primarily due to an excess of product inventory and intense competition among suppliers. The market became saturated with an abundance of EDA, resulting in an imbalance between supply and demand. Consequently, prices dropped as producers and suppliers fiercely competed to capture market share. This decline was further influenced by the continuous downward trajectory in the cost of the raw material, Ethylene, throughout July. Lower raw material expenses translated into decreased production costs for EDA in August, leading to reduced import expenses in the North American market. Despite positive trends in the North American automobile market during this period, the price of Ethylenediamine continued to decline due to reduced production costs. Overall, the third quarter of 2023 in North America witnessed a significant decrease in EDA prices, influenced by factors such as oversupply, competitive pressures, and lower production costs.

APAC:

During the third quarter of 2023, the Asia-Pacific region observed a consistent decline in Ethylenediamine (EDA) prices, driven primarily by the Indian market. July witnessed a significant drop in EDA prices due to excess stockpiles and intense competition among suppliers. The market was oversaturated with product supply, leading to an imbalance between demand and availability. This surplus prompted price decreases as producers and suppliers competed fiercely for market share. The price decline was also influenced by the continuous downward trend in the cost of the raw material, Ethylene, throughout July. Lower raw material costs translated into reduced production expenses for EDA in August, resulting in decreased import expenses in the Indian market. In September, the Indian automobile retail sector experienced a 20% increase in sales compared to the previous year, reaching 1.89 million units. This surge was attributed to favorable monsoon conditions and a positive market sentiment, according to the Federation of Automobile Dealers' Associations (FADA). Despite this positive trend in the Indian automobile market, the price of Ethylenediamine continued to decline due to reduced import costs from other Asian countries.

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Europe:

Throughout the third quarter of 2023, the European Ethylenediamine (EDA) market witnessed a consistent downward trend in prices. In July, there was a notable drop in EDA prices, primarily attributed to an excess of product inventory and intense competition among suppliers. The market became oversaturated with an abundance of EDA, leading to an imbalance between supply and demand. Consequently, prices saw a decline as producers and suppliers fiercely vied for market share. This decrease was also impacted by the continuous decrease in the cost of the raw material, Ethylene, throughout July. Lower raw material costs translated into reduced production expenses for EDA in August, leading to decreased import costs in the European market. Despite some positive trends in the European automobile market during this period, the price of Ethylenediamine continued to fall due to decreased production costs. In summary, the third quarter of 2023 in Europe witnessed a significant decline in EDA prices, influenced by factors such as oversupply, competitive pressures, and reduced production expenses.





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