Global Market Momentum for Propyl Paraben Remains Positive at the start of Q2 2023

Propyl Paraben prices continued to follow an upsurged market trend across the Global market, as increased demand from the pharmaceutical and healthcare industries on a global scale was balanced by steady production activity in the exporting country i.e., India. With the start of the second quarter, consumer confidence was on the upswing in the APAC region, one of the largest Propyl Parabens exporting regions which includes both China and India. The global market saw a rise in demand from downstream sectors, which improved inflationary pressure and therefore improved consumer offtake for all pharmaceutical end-products, including Propyl Paraben, in the relevant areas. Additionally, the market was stimulated by increased trade activity, falling freight costs, and falling energy costs.

Similar to this, the price of Propyl Paraben steadily rose in both Europe and the United States market. The Consumer Price Index has increased by 0.5% since the start of the first quarter, demonstrating a positive trend in the demand-supply dynamics for Propyl Paraben. As the quarter 2 of 2023 drew near, import growth remained consistent as Propyl Paraben offtakes rose in the earlier months. As a result, market participants are now capable of raising their prices and concentrate on placing on more orders in order to maintain their inventory levels and prevent the further shortage of end products in the future. The decline in energy cost and the improved commerce, both contributed the overall increase in the price of Propyl Paraben in the domestic and international markets during the month of April.

According to the ChemAnalyst analysis: “With limited supplies available across the global market, Propyl Paraben is expected to continue to see strong demand leading to a persistent upward market trend. Healthy demand from international market, continuous improvement in trade activity, feeble upstream cost and slight increase in crude oil prices might support the continuous surge in the prices of Propyl Paraben”.