In the Fourth Quarter of 2023, Phenol Prices hit $1415/MT due to strong construction demand. In China, prices fluctuated, ending at $1120/MT due to low Bisphenol A demand. Europe's phenol prices fell to $1190/MT amid moderate demand, with no impact from INEOS Phenol's plant shutdown.
The latest report by IMARC Group, titled "Phenol Pricing Report 2024: Price Trend, Chart, Industry Analysis, News, Demand, Historical and Forecast Data," provides a thorough examination of the Phenol price trend. This report delves into the price of Phenol globally, presenting a detailed analysis, along with an informative Phenol price chart. Through comprehensive price analysis, the report sheds light on the key factors influencing these trends. Additionally, it includes Phenol historical data to offer context and depth to the current pricing landscape. The report also explores the Phenol demand, analyzing how it impacts industry dynamics. To aid in strategic planning, the price forecast section provides insights into price forecasts, making this report an invaluable resource for industry stakeholders.
Phenol Prices December 2023:
- United States: 1415 USD/MT
- China: 1120 USD/MT
- Europe: 1190 USD/MT
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The study delves into the factors affecting Phenol price variations, including alterations in the cost of raw materials, the balance of supply and demand, geopolitical influences, and sector-specific developments.
The report also incorporates the most recent updates from the industry, equipping stakeholders with the latest information on industry fluctuations, regulatory modifications, and technological progress. It serves as an exhaustive resource for stakeholders, enhancing strategic planning and forecast capabilities.
Request For a Sample Copy of the Report: https://www.imarcgroup.com/phenol-pricing-report/requestsample
Key Highlights of the Phenol Price Trend - Q4 2023
The growth of the phenol industry is driven by several key factors, primarily the increasing demand from the chemical and manufacturing industries. Phenol is a critical raw material used in the production of bisphenol A (BPA), which is essential for manufacturing polycarbonate plastics and epoxy resins. These materials are extensively used in the automotive, construction, and electronics sectors, which are witnessing significant growth due to rapid industrialization and urbanization, especially in emerging economies. Additionally, the rising use of phenol in the production of phenolic resins, which are used in adhesives, coatings, and insulation materials, further propels the industry. The demand for phenolic resins in the construction and automotive industries, driven by their superior thermal stability and mechanical properties, enhances industry growth. Moreover, the pharmaceutical and agrochemical industries' growing reliance on phenol for synthesizing various drugs and agrochemicals boosts industry demand. Environmental regulations promoting the use of high-efficiency materials also contribute to phenol's industry expansion. The ongoing research and development activities aimed at improving phenol production processes and exploring new applications further support the industry's growth trajectory.
Phenol Industry Analysis - Q4 2023
In Q1 2024, Phenol prices showed varied trends across different regions. In North America, prices rose significantly due to higher Benzene costs, crude oil supply concerns from OPEC+ production cuts, and reduced manufacturing rates, which limited the availability of finished goods. Additionally, improved demand from the Bisphenol A industry supported price increases. However, disruptions such as INEOS Phenol's plant in Alabama and Shell Chemicals' plant in Texas due to unforeseen outages also affected production. Consequently, the USA saw a bullish industry sentiment with a 23% price increase, ending the quarter at USD 1050 per ton.
Phenol Price Analysis in APAC - Last Quarter 2023
In contrast, the APAC region experienced a downward trend in Phenol prices. Factors contributing to this decline included subdued demand from downstream industries, particularly in Japan’s construction sector, and reduced procurement activities in China due to the Spring Festival Holidays. The overall economic slowdown, weak consumer spending, and rising inflation further pressured prices. Japan recorded a significant price drop of 16% year-on-year, with the quarter-ending price at USD 880/MT.
Phenol Price Analysis in Europe - Last Quarter 2023
Europe saw a substantial rise in Phenol prices, driven by higher Benzene costs and crude oil supply concerns similar to North America. Reduced production rates among manufacturers also contributed to the price increase. Belgium experienced the highest price changes, with a bullish trend throughout the quarter, resulting in a 34% quarterly increase and an 8% year-on-year rise. The quarter-ending price for Phenol in Belgium was USD 1630/MT, highlighting a positive outlook for the region.
Regional Price 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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