For the Quarter Ending December 2024
North America
The North American Polar Solvent market experienced a mix of price trends in Q4 2024, influenced by supply-demand dynamics, cost fluctuations, and global trade factors. Acetone prices remained bearish due to stable production costs and moderate demand from downstream sectors, though minor supply disruptions and geopolitical uncertainties created fluctuations. Acetonitrile saw price volatility, initially surging due to tight supply and high freight costs before softening in November, only to rebound in December with renewed pharmaceutical demand. Dimethylformamide (DMF) experienced steady demand growth from pharmaceuticals and polymers, supported by sustainability initiatives. Meanwhile, Isopropyl Alcohol (IPA) followed a bearish trajectory, facing weak demand and oversupply despite temporary supply constraints from maintenance shutdowns. Methanol prices surged due to strong downstream demand, supply disruptions, and global regulatory shifts favoring methanol-based fuels. Phenol prices, however, declined throughout the quarter, pressured by oversupply, weak downstream consumption, and economic headwinds. Methenamine showed stable demand from pharmaceuticals but faced headwinds in the rubber industry due to fluctuating feedstock costs. Methyl Ethyl Ketone (MEK) saw a persistent price decline, driven by weak demand, rising imports, and subdued industrial activity. Lastly, N-Propanol prices remained stable, with balanced supply and cautious inventory management from key industries. Overall, Q4 2024 reflected varied market conditions across the polar solvent sector, with economic pressures and trade dynamics shaping price movements.
Asia
In Q4 2024, the APAC polar solvent market exhibited mixed pricing trends, shaped by supply chain dynamics, fluctuating demand, and raw material costs. Acetone prices in South Korea declined due to weak demand from key sectors like MMA and aromatics, subdued trading sentiment, and falling cumene prices, despite stable supply. Similarly, acetonitrile export prices from Japan initially rose due to supply constraints and strong demand but declined in December amid oversupply and weakened downstream activity. Dimethylformamide (DMF) prices in China remained largely stable, with only a marginal 0.1% quarterly change, as moderate demand and balanced inventories prevented significant fluctuations. Isopropyl Alcohol (IPA) in South Korea experienced fluctuating prices, remaining stable in October before declining in November due to weak demand, despite some supply constraints. The methanol market saw a consistent decline across APAC, driven by weak demand, reduced electricity consumption, and an oversupplied market, particularly in Japan. Phenol prices in China also dropped as a result of weak construction and automotive demand, high inventories, and seasonal slowdowns. Conversely, methenamine prices in China rose by 5.5%, supported by increased pharmaceutical demand and regulatory changes in the agricultural sector. Methyl Ethyl Ketone (MEK) exhibited mixed trends, with declines in October and November due to weak demand, followed by a recovery in December, driven by strong export activity. N-Propanol prices varied by region, with China experiencing an increase in November due to strong downstream demand, while South Korea faced declining prices amid inventory adjustments. Overall, the APAC polar solvent market in Q4 2024 reflected a largely bearish sentiment, with oversupply and subdued demand prevailing across most commodities. However, specific segments, such as methenamine and MEK, displayed resilience, driven by sector-specific demand and export activity.
Europe
In Q4 2024, the European polar solvent market exhibited varied price trends influenced by supply chain disruptions, feedstock fluctuations, and demand shifts across key industries. Acetone prices faced downward pressure due to oversupply and weak demand from solvents and adhesives, despite reduced phenol production. Acetonitrile prices in Belgium saw consistent increases, driven by strong pharmaceutical demand, global supply constraints, and higher import costs amid a weaker Euro. Dimethylformamide (DMF) prices remained stable, supported by steady production costs, moderate demand, and cautious market sentiment. Isopropyl Alcohol (IPA) in Germany experienced sustained price declines due to oversupply, weak demand, and inventory liquidation, despite rising propylene costs. Methanol prices surged across Europe due to high natural gas costs, supply disruptions, and strong demand from derivative markets. Phenol prices in Germany followed a bearish trend, pressured by subdued construction and automotive demand, ample supply, and lower benzene costs. Russia’s methenamine market witnessed an 11.7% price rise, fueled by strong pharmaceutical demand and steady supply conditions. Methyl Ethyl Ketone (MEK) prices fell sharply in Europe, influenced by weakened construction demand, rising inventories, and lower feedstock costs. N-Propanol prices experienced a slight decline due to seasonal demand slowdowns and stable supply. Overall, while methanol and acetonitrile showed resilience with strong price gains, the broader polar solvent market in Europe was largely bearish, characterized by oversupply, weak demand, and cautious market sentiment.
