Article -> Article Details
| Title | Phenol Price Trend, Latest News, Chart Supply & Demand |
|---|---|
| Category | Business --> Chemicals |
| Meta Keywords | Phenol Prices |
| Owner | stephenthomas |
| Description | |
Key Highlights of the Phenol Price Trend:The global Phenol Price Trend is primarily driven by its widespread use across several key industries, including plastics, automotive, and construction. Phenol is a vital precursor for manufacturing Bisphenol A (BPA), which is used to produce polycarbonates, a material in high demand due to its lightweight and durable properties. The rise in automotive production and the growing construction industry, particularly in emerging economies, is further driving the demand for phenol. Additionally, phenol plays a crucial role in the pharmaceutical and chemical sectors, where it is used to produce key intermediates and solvents. However, the market is sensitive to fluctuations in crude oil prices, as phenol production is closely tied to benzene, a derivative of crude oil. Supply chain disruptions, geopolitical tensions, and shifts in raw material prices can significantly influence phenol market trends. The growing need for high-performance plastics and robust demand from downstream sectors contribute to the global market's upward growth.
Phenol Prices Second Quarter 2024:
Factors Influencing Phenol Price Trend Across the Regions:In North America In the second quarter of 2024, phenol prices in North America witnessed a rise, mainly due to escalating production expenses tied to increasing crude oil rates. OPEC+ sustained a positive forecast for worldwide oil consumption, driving crude costs upward. Seasonal orders during the summer and heightened requests from the construction sector bolstered this trend. However, supply chain issues from redirected shipping routes around Africa, caused by incidents in the Red Sea, further raised freight costs and influenced phenol prices. Elevated borrowing expenses also limited the manufacturing industry, but steady output helped maintain the supply-demand balance, creating a favorable pricing atmosphere. In the Asia Pacific Furthermore, the phenol Prices across the Asia-Pacific region displayed significant upward movement throughout the second quarter of 2024, fueled by limited availability and increased orders from downstream industries. Escalating crude oil rates, aggravated by geopolitical conflicts, elevated raw material expenses, leading to price hikes. Regional production constraints, along with strategic pricing changes by producers, further impacted the market. Japan, specifically, saw notable price shifts, with businesses restructuring petrochemical activities due to China's expanding output. The market concluded on a positive trajectory, supported by steady prices, strong demand, and supply-side difficulties. In Europe Moreover, in the second quarter of 2024, phenol Prices in Europe showed varied patterns. At the start of the quarter, weak demand from downstream sectors, especially Bisphenol A, led to lower phenol purchases and a decline in prices. Limited upstream price support from benzene further kept prices subdued. However, during the latter part of the quarter, rising crude oil rates and higher shipping costs drove phenol prices upward. Germany experienced the most notable price fluctuations, influenced by seasonal trends and heightened crude oil orders. The European phenol market followed an upward pricing trend, with pressure from raw material expenses and supply limitations. Request For a Sample Copy of the Report: https://www.imarcgroup.com/phenol-pricing-report/requestsample Regional Price Analysis:
Note: The current country list is selective, detailed insights into additional countries can be obtained for clients upon request.
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