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Analyzing Phenol Prices, Latest Trend, Analysis & Demand

Author: Stephen Thomas
by Stephen Thomas
Posted: Oct 21, 2024
Key Highlights of the Phenol Price Trend:

The Phenol Price Trend is experiencing robust growth, driven by its widespread use in the production of bisphenol-A (BPA), a key component in polycarbonate plastics and epoxy resins. These materials are in high demand across industries such as automotive, electronics, and construction, where they provide durability and versatility. The market is also benefiting from rising demand for phenolic resins, which are used in adhesives, laminates, and insulation materials. Technological advancements in production processes have improved the efficiency and cost-effectiveness of phenol manufacturing. Additionally, the growing focus on lightweight materials in the automotive and aerospace sectors is contributing to the rising demand for phenol-based products, ensuring strong market growth prospects.

Phenol Prices Second Quarter 2024:

  • United States: 1082 USD/MT
  • Japan: 947 USD/MT
  • Germany: 1571 USD/MT
Factors Influencing Phenol Price Trend Across the Regions:

In North America

The North American phenol prices had a noteworthy upswing in Q2 2024, propelled by various factors. Crude prices continued to rise as the fuel-producing nations (OPEC) and its potential partners, or OPEC+, practiced a strong expansion projection for the world's oil consumption. This pattern was also influenced by the demand for increased gasoline use in summertime. Furthermore, the gradual increase in demand from the building downstream sector firms contributed to the upstream trend.

In the Asia Pacific

The Asia-Pacific industry recorded massive gains in Q2, driven by tight supply and growing requirements from major end-use sectors. Higher phenol costs were partly due to rising raw material costs, influenced by higher prices resulting from international issues. Production curtailments and trade restrictions led to widespread supply shortages, while careful spending behavior and smaller order volumes showed caution toward engaging with elevated rates. However, increased production costs and a resurgence in purchasing after holiday slowdowns helped sustain overall trading activity.

In Europe

Phenol prices in Europe had a variable pattern in Q2 2024 due to multiple market-influencing factors. The quarter began with lower upstream phenol procurement due to sluggish downstream industry demand, such as Bisphenol A. Manufacturers decreased their price offers as a result. The difficulty in increasing Phenol pricing was partly caused by Benzene's poor cost support upstream.

Request For a Sample Copy of the Report: https://www.imarcgroup.com/phenol-pricing-report/requestsample

Overall, Price Trend and Regional Prices Analysis:
  • Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand.
  • Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece.
  • North America: United States and Canada.
  • Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru.
  • Middle East & Africa: Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco.

Note: The current country list is selective, detailed insights into additional countries can be obtained for clients upon request.

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IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provides a comprehensive suite of market entry and expansion services. IMARC offerings include a thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape, and benchmarking analyses, pricing and cost research, and procurement research.

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Email: sales@imarcgroup.com

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About the Author

Citric Acid Prices in the US rose to 885 Usd/MT due to slowdowns, maintenance, export restrictions

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Author: Stephen Thomas

Stephen Thomas

Member since: Aug 06, 2024
Published articles: 47

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