For the Quarter Ending December 2025
North America
• In USA, the 2-Ethylhexyl Nitrate Price Index fell by 8.0% quarter-over-quarter, due to abundant imports.
• The average 2-Ethylhexyl Nitrate price for the quarter was approximately USD 1413.67/MT, indicating import-driven weakness.
• 2-Ethylhexyl Nitrate Spot Price eased in December as German and Singapore imports increased merchant availability.
• 2-Ethylhexyl Nitrate Price Forecast indicates modest early 2026 recovery supported by seasonal diesel blending uptick.
• 2-Ethylhexyl Nitrate Production Cost Trend remained stable as 2-ethylhexanol feedstock prices stayed muted, limiting pressure.
• 2-Ethylhexyl Nitrate Demand Outlook remains subdued near-term due to seasonal diesel blending and cautious restocking.
• Gulf Coast inventories pressured the 2-Ethylhexyl Nitrate Price Index, enabling buyers to negotiate modest discounts.
• Logistics stability and low hurricane risk supported flows, keeping 2-Ethylhexyl Nitrate Spot Price volatility muted.
Why did the price of 2-Ethylhexyl Nitrate change in December 2025 in North America?
• Ample German and Singapore imports increased supply, reducing December prices amid subdued diesel blending demand.
• Stable 2-ethylhexanol feedstock costs limited production inflation, transmitting origin cost declines into lower landed prices.
• Normal Gulf Coast port operations, adequate inventories lowered logistical premiums, allowing distributors to push back.
APAC
• In South Korea, the 2-Ethylhexyl Nitrate Price Index fell by 6.42% quarter-over-quarter, on weak demand.
• The average 2-Ethylhexyl Nitrate price for the quarter was USD 1297.67/MT, backed by balanced supply.
• 2-Ethylhexyl Nitrate Spot Price remained under pressure as exporters released volumes and freight softened moderately.
• The 2-Ethylhexyl Nitrate Price Forecast indicates upside risk amid seasonal diesel demand and constrained offers.
• 2-Ethylhexyl Nitrate Production Cost Trend showed upward pressure from higher sulphuric-acid, offset by lower feedstock.
• The 2-Ethylhexyl Nitrate Demand Outlook remains cautious with buying and subdued marine blending this winter.
• 2-Ethylhexyl Nitrate Price Index movements reflected draws and import volumes at Busan, leaving volatility low.
• Competitive Asian supplier pricing and steady imports constrained upside, leaving limited room for prompt-contract adjustments.
Why did the price of 2-Ethylhexyl Nitrate change in December 2025 in APAC?
• Light import programme and low inbound parcel volumes reduced prompt availability, pressuring prices modestly downward.
• Rising sulphuric-acid values increased nitration cash costs, partially offsetting downward pressure from abundant inventories nearby.
• Cautious buying by blenders awaiting talks reduced spot demand, keeping costs and Price Index subdued.
Europe
In Germany, the 2-Ethylhexyl Nitrate Price Index fell quarter-over-quarter, pressured by low diesel additive demand.
• 2-Ethylhexyl Nitrate Spot Price weakened as distributors released cargoes amid subdued industrial blending activity.
• 2-Ethylhexyl Nitrate Price Forecast indicates mild upside risk early 2026, depending on refinery output and seasonal demand shifts.
• 2-Ethylhexyl Nitrate Production Cost Trend remained mixed with higher sulphuric acid costs offset by cheaper feedstock derivatives.
• 2-Ethylhexyl Nitrate Demand Outlook stayed muted as winter diesel blending remained low, and downstream industrial demand was cautious.
• Price Index reflected steady port inventories, smooth logistics, and competitive Asian imports, keeping volatility minimal.
• Local producers maintained normal operating rates, limiting supply disruptions but leaving limited room for price increases.
Why did the price of 2-Ethylhexyl Nitrate change in December 2025 in Europe?
• Weak diesel additive and marine blending demand reduced immediate offtake, pressuring spot prices.
• Moderate increase in sulphuric acid and raw material costs supported some resistance to sharp declines.
• Smooth import flows from Asia and regional production stability maintained supply balance, constraining any rapid price recovery.
Quarter Ending September 2025
North America
• In USA, the 2-Ethylhexyl Nitrate Price Index fell by 1.5% quarter-over-quarter, due to logistics constraints.
• The average 2-Ethylhexyl Nitrate price for the quarter was approximately USD 1536.67/MT, reflecting landed costs.
• 2-Ethylhexyl Nitrate Spot Price firmed as the Price Index reflected tighter imports and higher freight.
• 2-Ethylhexyl Nitrate Price Forecast indicates modest upside as restocking and seasonal diesel demand support offers.
• 2-Ethylhexyl Nitrate Production Cost Trend exhibits upward pressure from rising 2-Ethylhexanol and nitric acid feedstock.
• 2-Ethylhexyl Nitrate Demand Outlook remains moderate with regulatory support but subdued automotive sales limiting offtake.
• Inventory draws and export congestion tightened availability, strengthening the 2-Ethylhexyl Nitrate Price Index regionally notably.
• Domestic producers operated but higher import costs and logistics constrained supply, supporting elevated market offers.
Why did the price of 2-Ethylhexyl Nitrate change in September 2025 in North America?
• Port congestion and elevated freight increased landed costs, reducing effective supply and tightening September availability.
• Tariff uncertainty triggered precautionary buying and restocking, amplifying demand-supply imbalance during the quarter's ending month.
• Rising feedstock costs, notably 2-Ethylhexanol and nitric acid, elevated production costs and constrained supplier pricing flexibility.
APAC
• In South Korea, the 2-Ethylhexyl Nitrate Price Index fell by 6.52% quarter-over-quarter, driven by lower import costs and inventories.
• The average 2-Ethylhexyl Nitrate price for the quarter was approximately USD 1386.67/MT, reflecting sustained purchasing from automotive sector.
• 2-Ethylhexyl Nitrate Spot Price softened as freight declines and competitive imports pressured domestic landed costs.
• 2-Ethylhexyl Nitrate Production Cost Trend remained mixed with higher feedstock costs offset by lower logistics.
• 2-Ethylhexyl Nitrate Demand Outlook is steady supported by automotive production gains but constrained by efficiency and diesel displacement.
• 2-Ethylhexyl Nitrate Price Forecast indicates modest near-term recovery scenarios as restocking and seasonal demand slowly improve import purchasing.
• High inventory levels and port congestion kept the 2-Ethylhexyl Nitrate Price Index under downward pressure.
• Export availability and competitive supplier offers constrained domestic offers, influencing 2-Ethylhexyl Nitrate Spot Price and trade flows.
Why did the price of 2-Ethylhexyl Nitrate change in September 2025 in APAC?
• Ample imports and pre-emptive stockpiles increased availability, exerting downward pressure on landed CFR pricing in Korea.
• Easing freight rates and logistical cost declines reduced import costs, weakening domestic 2-EHN Price Index recovery.
• Stable automotive demand partially supported volumes, but efficiency gains and diesel substitution limited additive consumption growth.
Europe
• The Spot Price of 2-EHN in Europe showed minimal fluctuation during Q3 2025. Prices remained under pressure due to consistent supply from Asian exporters and moderate buying activity from fuel blenders and industrial users.
• The Price Index for 2-EHN in Europe declined slightly in September 2025, marking a modest decrease of approximately 0.3% compared to August. This was attributed to weaker demand outlook from the automotive and transportation sectors, which faced seasonal slowdowns and inventory saturation.
• The Production Cost Trend remained stable throughout Q3, supported by steady raw material availability and unchanged energy tariffs. European producers-maintained output levels, but competitive pricing from Chinese suppliers limited margin expansion.
• The Demand Outlook for Q4 2025 remains neutral to slightly bearish. While infrastructure and logistics sectors continue to rely on diesel engines, the growing shift toward electrification and alternative fuels is expected to cap demand growth for 2-EHN.
Why did the price of 2-ethylhexyl Nitrate change in September 2025 in Europe?
The price decreased due to softened demand from diesel fuel blending operations, stable import volumes from China, and unchanged production cost trend. Buyers adopted cautious procurement strategies amid macroeconomic uncertainty and fuel efficiency regulation shifts.
For the Quarter Ending June 2025
North America
• The 2-Ethylhexyl Nitrate (2-EHN) Spot Price in North America declined by 4.69% quarter-over-quarter in Q2 2025, following a fluctuating trend across April, May, and June, as reflected in the Price Index.
• In April, prices surged due to aggressive restocking and heightened freight costs driven by trade policy uncertainties, including anticipated tariffs on imports from APAC countries.
• May saw a price dip as supply-demand dynamics stabilized; domestic traders held sufficient inventories and worked through backlogs amid only modest automotive demand.
• In June, prices rose slightly again due to renewed shipping disruptions and elevated freight rates, even though downstream demand remained tepid.
• Freight rate volatility, port congestion, and evolving tariff policies played a dominant role in shaping the North American 2-EHN market, overshadowing somewhat muted end-user demand trends.
Why the prices of 2-EHN change in July 2025 in USA?
• In July 2025, the 2 EHN Price Index in the United States moved lower, extending the softening trend from June. The decline was largely attributed to tepid demand recovery, ample inventories, and continued uncertainty around trade policy outcomes.
• The Production Cost Trend remained steady, as raw material prices and freight rates stabilized. However, with high inventory levels built up in previous months (in anticipation of tariff impacts), sellers were compelled to offer discounts to clear excess stock.
• The Demand Outlook stayed subdued. While the automotive sector—especially diesel vehicle sales—is a key consumer of 2 EHN, July saw only modest month-over-month growth in light vehicle sales, with diesel segment performance underwhelming. Consumer sentiment remained cautious amid elevated interest rates and rising auto loan delinquencies.
APAC
• The 2-Ethylhexyl Nitrate (2-EHN) Spot Price in South Korea declined by 7.74% quarter-over-quarter in Q2 2025, following a shift from initial price strength in April to sustained softening through May and June.
• In April, prices rose modestly due to constrained inventories, persistent port congestion in exporting countries, and rising intra-Asia freight rates.
• May brought a price decline, as reduced freight costs and soft downstream demand, especially in the automotive sector, created a more balanced market environment.
• June continued the downward trajectory, with pricing impacted by oversupply conditions and competitive import valuations, despite modest recovery in auto sales.
• The 2-EHN Price Index reflects a market weighed down by logistical challenges, cautious demand recovery, and improved inventory availability across the APAC region.
Why the prices of 2-EHN change in July 2025 in APAC?
• In July 2025, the 2-EHN Price Index in South Korea continued its downward trend, driven by oversupply, muted downstream demand, and persistent logistical inefficiencies that discouraged fresh procurement.
• The Production Cost Trend remained steady, with no major shifts in raw material or freight rates. However, excess inventory from previous months and subdued consumption prompted traders to lower offer prices to stay competitive.
• The Demand Outlook remained soft, particularly from the automotive sector, which is the primary consumer of 2-EHN. Despite an uptick in domestic vehicle production earlier in the quarter, retail sales stagnated, and demand for diesel fuel additives stayed weak. A continued push toward electrification and fuel efficiency measures further reduced the short-term need for cetane improvers like 2-EHN.
• Additionally, port congestion at Busan and Donghae persisted, although it did not significantly disrupt supply availability. Instead, it added to market caution, with buyers refraining from taking on additional volumes amid already sufficient stock levels.
• Traders also noted cautious sentiment due to macroeconomic concerns, including rising household debt and weak consumer confidence, which affected broader industrial demand.
Europe
• The 2 Ethylhexyl Nitrate (2 EHN) Spot Price in Europe showed a mixed pattern in Q2 2025, with minor upward moves mid quarter followed by easing, resulting in a marginal decline for the period
• Supply remained well stocked, supported by proactive restocking in late 2024 and steady imports from Asia and North America, alongside easing freight costs
• Demand from key sectors such as automotive (especially diesel applications) and industrial lubricants was moderate, matching typical seasonal patterns amid economic softness
• Freight efficiency improvements and solid port logistics helped relieve earlier supply constraints—even as broader macroeconomic uncertainty weighed on industrial activity
• Overall, market dynamics—balanced supply flows, stable inventories, and only modest demand growth—led to relatively stable but slightly soft pricing across the region.
Why the prices of 2-EHN change in July 2025 in Europe?
• In July 2025, the 2 EHN Price Index in Germany declined due to a combination of persistently weak downstream demand and ample supply levels, which outpaced market consumption.
• The Production Cost Trend remained relatively flat, as feedstock prices and freight rates stabilized across Europe. However, price competitiveness among traders intensified, leading to discounting of inventory to stimulate demand.
• The Demand Outlook was muted: Germany’s automotive sector—one of the key end-users for 2 EHN, particularly in diesel engine applications—saw limited growth. New car registrations were subdued, and industrial fuel demand remained below expectations amid slowing economic indicators and cautious consumer spending.
For the Quarter Ending March 2025
North America
In Q1 2025, the North American 2-Ethylhexyl Nitrate (2-EHN) market saw a 3.8% quarter-over-quarter price decline, shaped by easing import costs and shifting demand dynamics. January opened with a drop in prices, driven by steady supply inflows and moderate demand from the paints and coatings sector. Automotive sector performance remained resilient, supporting baseline consumption.
In February, prices rebounded modestly as the automotive and aerospace sectors sustained demand, while stable inventories and declining freight costs ensured consistent supply. March witnessed a second consecutive price rise, fueled by anticipatory buying ahead of potential tariff changes, which spurred short-term demand from the automotive industry. Despite mild import restrictions from Asia, sufficient stockpiles and alternative imports from Malaysia and Europe kept the market well-supplied. Logistics costs remained stable to slightly decline, further reinforcing market balance.
Overall, the quarter was characterized by price fluctuations around a stable core, with macroeconomic uncertainties and shifting trade sentiments playing key roles in shaping short-term purchasing behavior and price trends for 2-EHN across the region.
APAC
In Q1 2025, the South Korean 2-Ethylhexyl Nitrate (2-EHN) market witnessed a modest quarter-over-quarter price decline of approximately 1.3%. The quarter opened with a price dip in January, driven by softer import costs, steady inventory levels, and moderate downstream demand, particularly from the paints and coatings sector. Although vehicle sales continued their year-on-year growth, cautious consumer spending amid inflationary pressure limited overall demand. February saw a slight price rebound, supported by strong performance in the automotive and aerospace sectors, where 2-EHN is widely used as a cetane improver. Despite firm demand, supply remained stable due to smooth cargo inflows. In March, prices rose moderately as supply tightened due to persistent port congestion in key exporting countries like China, delaying shipments. Meanwhile, demand was moderately supported by new vehicle launches, although broader consumer sentiment remained subdued. Throughout the quarter, falling freight rates and steady inventories prevented sharp price volatility. The market remained largely balanced, with logistical disruptions and downstream consumption shaping the overall price trajectory.
Europe
In Q1 2025, the European 2-Ethylhexyl Nitrate (2-EHN) market experienced mixed price movements, ultimately registering a modest decline over the quarter. January began with stable pricing as inventories remained adequate due to proactive restocking efforts in late 2024. Demand from key end-use sectors such as automotive and industrial lubricants remained moderate, aligning with seasonal trends. February saw a slight price increase, supported by improved offtake from the automotive sector amid a rebound in diesel vehicle production across parts of Central Europe. However, market fundamentals were balanced by steady inflows of imports, particularly from Asia and North America, aided by declining sea freight rates. In March, prices softened again due to weakened industrial activity and broader macroeconomic uncertainty, which limited downstream consumption. Additionally, improved logistics and sufficient inventory levels across Western Europe helped ease supply-side pressures. Overall, despite a temporary upward movement mid-quarter, subdued demand and easing logistics costs contributed to a marginal quarterly price correction, keeping the European 2-EHN market relatively balanced and well-supplied.
