Polymer markets stuggle to gain traction in January on the back of persistent headwinds. Conditions across many polymer markets, such as PA, ABS, and PC remain poor.
The main reason for this weakness is intense competition from imports and weak demand.
The increase energy costs during the past year has damaged Europe’s competitiveness in the global market. This has led to competitive imports displacing domestic demand.
Demand also failed to pick up in January as consumers in Europe are facing inflationary pressures and high energy bills. These factors are squeezing household budgets and limiting the ability for individuals to make purchases.
This has resulted in a continued softening of demand for goods, putting additional strain on businesses.
Faced with a weak outlook, buyers are in no hurry to replenish inventories and many are instead reducing stocks in line with the poor demand.
Engineering polymers are a type of plastic that possess superior mechanical and thermal properties compared to traditional plastics.
These materials are specifically designed and engineered to withstand high stress and extreme temperatures, making them suitable for use in a wide range of industrial and consumer applications.
PA, also known as polyamide, has high strength and toughness, making it suitable for use in automotive and industrial applications.
ABS, or acrylonitrile-butadiene-styrene, offers a combination of high impact resistance and rigidity, making it a popular choice for toys and appliances.
PC, or polycarbonate, is a transparent and durable polymer. It can withstand high temperatures. Applications include the manufacturing of safety equipment, electronic devices, and other industrial products.