For the Quarter Ending December 2024
North America
In Q4 2024, Nonyl Phenol prices in North America experienced a mix of moderate fluctuations, shaped by demand patterns, supply dynamics, and broader economic influences. Early in the quarter, prices remained stable, supported by steady demand from key sectors like coatings and personal care. The seasonal uptick in demand for decorative paints and other applications like surfactants provided some price stability, despite the ongoing volatility in raw material costs.
However, as the quarter progressed, pricing pressure emerged due to fluctuating upstream costs and softer demand from industries like surfactants and resins. Economic uncertainties, particularly the impact of high inflation and interest rates, led to cautious purchasing behavior from downstream buyers, contributing to a price decline in late Q4. Additionally, limited restocking by buyers further impacted demand, leading to a downward price trend.
Logistical disruptions and fluctuating freight costs also added complexity to the supply chain, though regional production remained steady. By December, as the festive season approached and demand softened, Nonyl Phenol prices faced downward pressure. Despite these challenges, the market remained balanced, with supply and demand fluctuations keeping the price trend relatively contained through the end of the quarter. Overall, Q4 2024 reflected a cautious market for Nonyl Phenol in North America, with early stability followed by weakening demand and price moderation towards year-end.
Asia
In Q4 2024, the price trend for Nonyl Phenol in the APAC region reflected a mix of supply-side adjustments and fluctuating demand from downstream sectors. Early in the quarter, prices saw some upward movement, driven by robust demand from the transportation sector, particularly in October. Increased petrol consumption, fueled by heightened transportation activity during the festive season, contributed to a rise in Nonyl Phenol prices. Additionally, logistical adjustments and increased container traffic at Jawaharlal Nehru Port supported imports, tightening shipping capacity and supporting prices. However, as the quarter progressed, economic slowdowns and weaker demand from the coatings, surfactant, and resins sectors resulted in price softening. In November, a decrease in prices was observed, driven by falling upstream costs such as crude oil and phenol. Slower demand from industrial applications, combined with global trade disruptions, contributed to this decline. By December, further price moderation occurred, with a decrease in Nonyl Phenol prices, as sluggish demand from the coatings sector persisted. Despite steady growth in construction and industrial activities, limited restocking and fluctuating raw material costs put downward pressure on prices. Overall, the quarter ended with a moderate decline in Nonyl Phenol prices, reflecting a cautious market sentiment amid economic and supply chain challenges.
Europe
In Q4 2024, the price trend for Nonyl Phenol in Europe followed a path shaped by both demand fluctuations and supply chain pressures. Early in the quarter, there was a steady demand for Nonyl Phenol, particularly driven by the ongoing demand in the personal care sector, which is a key consumer of the chemical. The holiday season and promotional events led to an uptick in demand for personal care products, thereby supporting price stability. However, as the quarter progressed, economic challenges, including inflation and rising energy prices, created a more cautious purchasing environment. The personal care industry, a major consumer of Nonyl Phenol, saw a shift toward more budget-conscious products, which softened demand for premium formulations. This shift resulted in a moderation of prices as companies adjusted to consumer sentiment. Additionally, rising raw material and packaging costs, driven by inflationary pressures, led to price hikes in certain product lines. Despite these challenges, steady supply dynamics helped maintain relative price stability, though some supply chain disruptions were observed in the latter part of the quarter. By December, slower retail growth and economic uncertainty contributed to price pressures on Nonyl Phenol. Overall, Q4 2024 saw a mixed trend in prices for Nonyl Phenol in Europe, with seasonal demand balancing out economic headwinds.
For the Quarter Ending September 2024
North America
In the third quarter of 2024, Nonyl Phenol prices in North America showed a marked increase, particularly in the U.S., where the most significant fluctuations were observed. This upward price trend was primarily driven by a supply-demand imbalance in the Nonyl Phenol Ethoxylates market.
While demand from key downstream sectors, such as detergents and surfactants, remained moderate, production levels were constrained due to operational challenges and below-capacity facility utilization. The availability of upstream Phenol supported consistent production, but supply chain disruptions, particularly related to reduced oil production, further affected the market.
Hurricanes and maintenance activities in the oil sector contributed to a decline in crude oil output, which had a cascading effect on the petrochemical market, including Nonyl Phenol. This dynamic was exacerbated by the 0.7% drop in global oil production, as reported by the International Energy Agency (IEA), with OPEC's output decreasing by 650,000 barrels per day. These supply constraints, combined with moderate demand, resulted in a steady increase in Nonyl Phenol prices throughout Q3 2024.
Asia
In the third quarter of 2024, the Asian Nonyl Phenol market witnessed a steady rise in prices, driven primarily by consistent demand from downstream sectors, including the Nonyl Phenol Ethoxylates industry, which serves key applications in personal care and detergents. China emerged as a focal point, where prices showed the most significant upward trend. In India, the Nonyl Phenol market dynamics were stable, supported by moderate demand, though seasonal factors like the monsoon season slightly influenced consumption. Nonyl Phenol prices in India reflected a 2.1% increase from the previous quarter, with the quarter-ending price recorded at USD 2015/MT CFR JNPT. Overall, supply chain stability, particularly the availability of upstream raw materials like Phenol, allowed for uninterrupted production and contributed to the overall price momentum across the region. However, Notable disruptions during the quarter included port congestion and labor strikes, affecting supply chains, such as Mundra Port congestion, and Port and dock workers' hunger strikes. Overall, the supply side provided moderate support for the Nonyl Phenol prices throughout the quarter. The OPEC basket crude oil prices declined during September 2024 and were assessed at USD 73.59 per barrel further affecting the Nonyl Phenol upstream costs.
Europe
In Q3 2024, the Nonyl Phenol pricing landscape in Europe, particularly within the Nonyl Ethoxylates sector, exhibited a significant upward trend, with Germany witnessing the most pronounced fluctuations. Several interrelated factors influenced this pricing environment. The consistent rise in crude oil prices has substantially impacted the manufacturing costs of Nonyl phenol, contributing to the overall price increase. This surge has been compounded by limited supplies of finished goods and robust demand from the cleaning sector, creating additional pressure on prices. Seasonal influences, including the upcoming holiday season and a reduction in manufacturing activities, also played a crucial role in shaping the pricing dynamics. Germany, as a pivotal player in this market, experienced substantial price changes throughout the quarter. The stabilization of demand from downstream industries at the termination of the quarter, coupled with ongoing supply chain disruptions and reduced production rates, resulted in a supply shortage that further pushed prices upward. Despite these price pressures, the euro area’s manufacturing sector contracted towards the end of the quarter, indicating broader economic challenges that could impact future demand for Nonyl Phenol and its derivatives. As manufacturers navigated these fluctuating conditions, the market sentiment remained cautiously optimistic, with a focus on adapting to evolving supply and demand dynamics.
For the Quarter Ending June 2024
North America
In the second quarter of 2024, the Nonyl Phenol market in North America exhibited notable stability, particularly in the latter half of the quarter. This stability was influenced by several significant factors shaping its pricing landscape. Balanced demand and supply chains played a crucial role in maintaining price stability during this period. The surfactant industry, a key downstream sector, showed moderate demand, contributing to the equilibrium in Nonyl Phenol pricing. Expected seasonal fluctuations, such as the Atlantic hurricane season, led downstream market participants to adopt cautious procurement strategies, ensuring their stockpiles were adequately padded against potential disruptions.
In the USA, which experienced the most pronounced price activities during this period, Nonyl Phenol prices remained fundamentally stable. This stability reflected a balanced sentiment in the market, indicating neither positive nor negative volatility but rather an equilibrium maintained by balanced supply-demand dynamics and prudent inventory management.
Hurricane Beryl halted industrial production in the USA in June 2024, with floods further disrupting downstream demand in the petroleum industry. Imports of US-origin Nonyl Phenol gained traction in the North American market, as US producers maintained strong pricing due to reduced domestic supplies and high local prices during this quarter.
APAC
In the quarter ending June 2024, the price of Nonyl Phenol in Asia remained on a slight surge due to an unchanged downstream market and a pause in demand from the surfactant sector amid the monsoon season. In April 2024, Nonyl Phenol prices in the market surged, driven by increased activity in the downstream surfactant sector, coupled with low inventory levels. India's current downstream sector reflects the most favorable conditions witnessed in the past decade, boosting confidence among homebuyers and investors nationwide and prompting heightened production in the surfactant industry due to a rise in the seasonal inclination. Furthermore, demand consistently outpaced supply, suggesting that Nonyl Phenol prices would rise whenever new inventory entered the market. However, In May and June 2024, the Nonyl Phenol market experienced a downward price trend, driven by unchanged downstream demand and increased regional supplies. The surfactant segment and other primary downstream industries showed little interest in stocking, influenced by reduced production activities and a seasonal lull. Market strategies focused on purchasing during price declines and managing existing inventory. The export market remained subdued, with Chinese buyers focused on domestic replenishment and early order execution. As the quarter concluded, the price of Nonyl Phenol CFR JNPT in India stood at USD 1957/MT, underlining a negative pricing environment at the end of Q2 2024.
Europe
In Q2 2024, the Nonyl Phenol market in Europe exhibited a persistent yet moderate upward trend, primarily driven by supply constraints, heightened production costs, and fluctuating feedstock prices. Supply chain disruptions and strategic production cutbacks by manufacturers exacerbated the material's scarcity. Additionally, increased operational expenses and stable demand from the surfactant sector collectively contributed to the rising Nonyl Phenol pricing environment. In Germany, the market experienced the most pronounced price changes within the region. Seasonal factors played a crucial role, with increased demand from the surfactant sector consistent with typical seasonal cycles. This incremental yet consistent rise reflected a balanced market condition, where slight demand improvements were met with constrained supply, fostering a stable to positive pricing environment. By the end of Q2 2024, Nonyl Phenol prices marked a steady culmination of the quarter’s upward trend, affirming the positive pricing momentum despite underlying volatility. Additionally, port operations were affected by a workers’ strike in June 2024, impacting ports such as Hamburg, Bremen, Bremerhaven, Brake, and Emden. The dispute over the collective agreement led to strikes at German container ports, halting activities at the Port of Hamburg for two days before a fourth round of negotiations began. The strikes later affected Wilhelmshaven, Bremen, and Emden, causing operational disruptions at container terminals. A prolonged strike could delay operations at Hamburg and Bremerhaven ports in August, severely impacting German exports, particularly in the automotive and machinery sectors.
For the Quarter Ending March 2024
North America
Throughout the first quarter of 2024, the North American Nonyl Phenol market experienced a continuous upward price trend. The market remained bullish, characterized by limited inventories and moderate demand.
However, the industry faced challenges such as disruptions in logistics and escalating freight rates due to ongoing turmoil in the Red Sea region. Efforts to address potential disruptions to shipping supply routes through Baltimore included the expansion of storage capacity in nearby areas like Philadelphia. Nevertheless, even minor logistical challenges could affect pricing in the region. The closure of the Port of Baltimore coincided with increased production rates in Europe, potentially resulting in surplus Nonyl Phenol that could be directed to the US East Coast.
Concerns persisted about low inventory levels in northeastern US tanks, although there has been slight improvement recently, allowing for more consistent price increases compared to regions with better supply and logistics. This trend was primarily driven by constrained production volumes and increased demand from the downstream sector.
APAC
The first quarter of 2024 was a mixed period for Nonyl Phenol pricing in the APAC region. Overall, market prices were influenced by various factors, resulting in both positive and negative trends. In terms of India, which experienced the most significant price changes, the market saw a notable increase in prices compared to the same quarter last year. Several factors contributed to the price changes in India. Limited regional supplies and stock shortages drove up prices, as reduced production rates in major exporting countries affected imports. Additionally, delays in cargo movement due to the ongoing situation in the Red Sea contributed to increased costs and low stock availability. Sellers raised prices in response to these limited supplies and low imports from regional suppliers. In terms of overall trends, the market was bullish, with low supply and moderate demand. Downstream orders were limited, further pushing up prices due to supply disruptions and tight stock availability. However, demand was moderate, with improved production rates in the downstream manufacturing industry. Looking at the price changes within the quarter, there was an 8.4% increase in Nonyl Phenol prices in India. The quarter-ending price stood at USD 2034/MT. It is important to note that there was no significant price difference between the first and second half of the quarter. In conclusion, the Nonyl Phenol pricing environment in the APAC region, particularly in India, was positive overall, with prices increasing compared to the same quarter last year. Limited supplies, low imports, and tight stock availability drove up prices, despite moderate demand.
Europe
The Nonyl Phenol market in Europe faced a challenging Q1 in 2024, with various factors impacting the industry. Prices surged in the regional market due to an increase in downstream chemical industry demand and constrained supplies. The increase in prices in the European market during the quarter ending March 2024 reflected moderate demand and a scarcity of suppliers. Challenges faced by the European supply chain, including logistics disruptions linked to the Red Sea turmoil, contributed to the current Nonyl Phenol pricing trend. Downstream production rates decreased due to supply disruptions, leading market participants to take a cautious stance on further changes. Limited supplies in the regional market were notable despite low demand fundamentals amidst slowed construction activities. Global crude oil prices surged, surpassing USD 87 per barrel, driven by factors like tighter physical markets, OPEC+ production cuts extension, and geopolitical tensions. However, prices in the German market remained stagnant, with a narrowed demand-supply gap and limited stock availability amid rising input costs in the middle of the quarter. Supply concerns emerged in March 2024 as the Easter holidays approached, particularly focusing on German ports facing closures during weeks 13 and 14 due to the holidays.
