In early 2025, C9 and C10 Solvent prices exhibited an increasing pattern in the global market. The supply-demand dynamics, along with fluctuations in upstream crude oil prices, played a significant role in shaping market dynamics.

The European market experienced a notable price increase for C9 and C10 Solvent in January 2025. In Germany, C10 solvent prices rose by 1.89%, primarily driven by restocking activities post-festive season. However, the expected rebound in demand did not materialize, raising concerns among market participants about the Q1 2025 outlook. Key application sectors, including paints, coatings, agrochemicals, and resins, maintained steady demand, albeit at lower-than-expected levels. Additionally, market participants in Germany closely monitored the upcoming general elections, assessing their potential impact on the petrochemical industry.

The US market followed a similar trend, with C9 and C10 Solvent prices rising due to increasing demand and limited inventory levels. Restocking activities and growing demand from downstream sectors such as paints, coatings, and industrial cleaning contributed to the price uptrend. The recovery in the automotive and construction sectors further supported the C9 and C10 Solvent market. Additionally, supply remained somewhat constrained, with reports indicating that producers were reluctant to extract aromatics from their refineries, adding to the supply tightness.

The market was further influenced by tightened sanctions on Russian and Iranian oil and an extreme cold snap in North America, which fueled the crude oil rally. According to EIA, crude oil prices surged for the first three consecutive weeks in January 2025, adding upward pressure on C9 and C10 Solvent prices.

In Asia, C9 and C10 Solvent prices followed an upward trajectory throughout January 2025. In South Korea, FOB prices remained elevated due to duty benefits in specific markets, particularly India. While demand increased in China, domestic consumption in South Korea remained subdued, largely due to lower automotive sales. Meanwhile, restocking activities in the Southeast Asian market were strong throughout the month and were expected to pick up in February 2025. This contributed to a 1.46% rise in C9 solvent prices and a 1.1% increase in C10 solvent prices during January 2025.

The Indian market for C9 and C10 Solvent reflected mixed trends in January 2025. While C9 solvent prices declined on a monthly basis after an initial surge due to restocking activity, C10 solvent prices increased by 3.3% due to low inventory levels and supply constraints.

Despite the volatility observed in January 2025, C9 and C10 Solvent demand is expected to remain steady in key application sectors. While Europe and the US saw restocking-driven price increases, Asia's market trends were shaped by regional trade advantages and demand fluctuations. The overall C9 and C10 Solvent market outlook for Q1 2025 remains uncertain, with geopolitical factors, crude oil movements, and supply constraints being the primary market influencers.