For the Quarter Ending December 2024
North America
In Q4 2024, the North American chemical market exhibited mixed trends, influenced by supply-demand dynamics, logistical disruptions, and fluctuating crude oil prices. The toluene market remained stable, with prices steady due to sufficient stockpiles and declining production costs, though labor strikes caused logistical delays. The acetone market saw a bearish trend, with prices declining amid stable production costs and moderate demand, despite minor supply chain disruptions. Isopropyl Alcohol (IPA) prices dropped consistently, driven by weak demand from the solvents industry, excess inventory, and aggressive pricing strategies.
Conversely, Hydrochloric Acid (HCl) prices surged by 3.0%, fueled by supply chain disruptions and rising production costs. The methanol market experienced sharp price increases due to strong demand from acetic acid and dimethyl amine sectors, coupled with supply constraints from production outages. N-Propanol prices moderated, reflecting stable supply and cautious demand. The caustic soda market saw steady price increases, supported by robust demand.
The Iso-Butanol market remained bearish, due to oversupply and weak demand. C9 and C10 solvents experienced mixed trends, with prices initially stable and, followed by mid-quarter increases due to crude oil volatility and logistical disruptions, before softening at the quarter’s end. Overall, the Q3 highlighted a mix of stability, decline, and growth across North American chemical markets, with solvents playing a key role in industrial applications.
Europe
In Q4 2024, the European chemical market faced mixed trends, with solvents playing a pivotal role across industries. Toluene prices declined due to weak demand, coupled with oversupply and geopolitical uncertainties. Acetone prices were pressured by reduced phenol production, impacting its availability, while sluggish demand from solvents and adhesives kept prices subdued. Isopropyl Alcohol (IPA) saw sustained price declines due to weak downstream demand and improved raw material availability. Hydrogen peroxide prices fell driven by oversupply and weak demand from downstream sectors. Hydrochloric Acid (HCl) prices rose due to tight supply and logistical challenges, despite moderate demand from downstream industries. Methanol prices surged amid supply constraints and rising natural gas costs, with strong demand from formaldehyde and downstream applications. Caustic soda prices declined marginally, impacted by oversupply and weak demand. Iso-Butanol depreciated due to low demand, while C9 and C10 solvents faced mixed trends, with prices softening due to weak solvent demand and logistical disruptions. Overall, solvent markets reflected broader industrial challenges, including oversupply, weak demand, and logistical constraints.
APAC
In Q4 2024, the APAC chemical market exhibited mixed trends, with solvents playing a critical role across industries. Toluene prices declined in China and South Korea due to weak demand from TDI, polyurethane, and coatings sectors, alongside stable supply and logistical challenges. Acetone prices in South Korea fell due to reduced demand from MMA and aromatics, coupled with lower raw material costs. Isopropyl Alcohol (IPA) prices fluctuated, with strong demand in October but a downturn in November due to weak solvent demand. Hydrogen peroxide prices dropped in Japan, driven by oversupply and weak demand from textiles and cleaning sectors. Hydrochloric Acid (HCl) prices rose in Japan due to tight supply and strong demand. Methanol prices declined due to weak demand from formaldehyde and MTBE sectors, alongside oversupply. N-Propanol prices showed mixed trends, with China seeing a rise due to robust demand, while South Korea experienced a decline. Caustic soda prices rose in China due to supply constraints and strong demand. Iso-Butanol prices increased by 6% due to supply disruptions and maintenance turnarounds. C9 and C10 solvents faced weak demand, with prices softening due to oversupply and declining crude oil prices. Overall, solvent markets reflected broader industrial challenges, including weak demand, oversupply, and logistical disruptions.
