Get the latest insights on price movement and trend analysis of 1,3-Propanediol in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).
1,3-Propanediol Price Trend for the First Half of 2023
The prices of 1,3-propanediol showcased a mixed trend in the first two quarters of 2023. The dipping prices of raw materials and dropping demand for the product negatively impacted the 1,3-propanediol market. The prices gained a little momentum in the second month of the first quarter with the increase in sales in the pharmaceutical and manufacturing sectors.
In the second quarter too, the prices rose slightly and then fell from April onwards. The supply of the product in the region became constrained as some of the manufacturing units had to shut down their production. In addition, the downstream demand declined significantly, and the market did not receive any support from the feedstock sector either.
In European markets, a consistently falling trend in the prices of 1,3-propanediol was observed. The prices were influenced by the weak performance of the feedstock prices and the slow movement of pharmaceutical and industrial sectors that caused the fall in the prices initially.
Along with this, the supply chain functioned at its peak in Europe amid the mild demand and led to the stockpiling of the product, which was a hassle for the traders. The traders thus looked for options to reduce the inventory levels, which forced them to decrease their market quotations.
In North America, the prices of 1,3-propanediol showcased mixed sentiments in the first two quarters of 2023. The drop in the prices in the initial months was a direct result of the falling prices of feedstock material. But with low production rates and stable demand for 1,3-propanediol from the pharmaceutical, cosmetics, and related sectors, the prices rose. To aid this hike, the cost of crude oil rose in subsequent months, raising the overall cost of production and, in turn, the prices of 1,3-propanediol.
According to Procurement Resource, the price of 1,3-Propanadiol is estimated to showcase an oscillating trend in the upcoming quarter. The demand from the pharmaceuticals and cosmetics sectors seems to be improving, but the lack of support from feedstock materials will affect the market negatively.
1,3-Propanediol Price Trend for the Second Half of 2022
After a fine run in H1 2022, the 1,3-Propanediol market declined in H2 2022. As covid restrictions eased down and discounted Russian oil had access to major Asian markets the feedstock acrylic acid prices also reduced considerably. Supply chains were restored, and upstream costs were reduced. Prices for 1,3-Propanediol also followed. Overall, market sentiments were mixed as downstream demands also didn’t rise much to aid the 1,3-Propanediol price trends.
H2 2022 for Europe remained affected by the global economic slowdown, inflation didn’t only affect the manufacturing sector, but also the consumer purchasing capacity. So, the end consumer demands in most sectors faced a plunge. For the 1,3-Propanediol market, though the supplies improved with restored supply chains and eased covid restrictions in China, energy prices didn’t. Downstream polyester, adhesive, lubricant, and other industries reported declining demands. Overall, the economic peril for Europe didn’t sit very right with the 1,3-Propanediol market.
Like the European region, the downstream demand remained a major driving factor in the North American 1,3-Propanediol market. As the energy prices and supply chains supported upstream costs, the feedstock acrylic acid prices increased, however, no parallel rise in 1,3-Propanediol price was seen considering the falling demand. Many manufacturers reduced their production costs, but even with lowered production costs market demands didn’t grow at all. Feeble demands kept the market fluctuating.
According to Procurement Resource, the 1,3-Propanediol prices are expected to be oscillating at the lower end. As consumer demand doesn’t seem to be gaining momentum anytime soon, 1,3-Propanediol prices are going to be drifting with market demand.
1,3-Propanediol Price Trend For the First Half of 2022
The price trends of 1,3-Propanediol remained strong in the Asian arena during the first quarter. The soaring crude oil prices caused uncertainty in the market supply along with the production cuts from the industries. The market shortages amid the booming demand from the end-user industries kept the prices adrift. The cost of feedstock acrylic acid averaged 2860 USD/MT in the Indian market and around 2370 USD/MT in the Chinese domestic market.
However, the price trends for 1,3-Propanediol exhibited an oscillating pattern in the second quarter. The crude oil prices began to relax due to the increased shipments from Saudi Arabia. These supplies supported the renewed production after the upliftment of covid restrictions. The increased outputs helped streamline the market demand; hence the prices stabilized.
During the first quarter, despite the high feedstock prices, production cuts, and acute energy crisis, the 1,3-Propanediol prices soared owing to the strong demand from downstream sectors. However, this abnormal inflation caused by the European decision to stop the oil supply from Russia led to the stagnation of the European market. The prices plateaued and began to fall consistently due to the demand destruction and reduced buyers’ confidence owing to the rumours of a global recession
The price trends of 1,3-Propanediol in the American market aligned with the global outlook. The acrylic acid feedstock prices soared during the first quarter and averaged 2180 USD/MT. However, the constricted market supply and shortages could not keep up with the demand dynamics. Due to this market mismatch, the prices stabilized and then plateaued in the US domestic arena.
Procurement Resource provides latest prices of 1,3-Propanediol. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.
1,3-Propanediol is a highly viscous colourless liquid which serves as an essential feedstock in several copolymerization reactions. It is miscible with water, and owing to its versatile properties; it is used in many industries, including antifreeze, cosmetics, and lubricants.
|Industrial Uses||Antifreeze, Lubricants, Cosmetics, Medical products, Polymers|
|Synonyms||1,3-Dihydroxypropane, Trimethylene glycol|
|Molecular Weight||76.10 g/mol|
|Supplier Database||DuPont Tate & Lyle Bio Products Company, Zhangjiagang Glory Biomaterial Co., Ltd., Metabolic Explorer|
|Region/Countries Covered||Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea, Iraq, Saudi Arabia, Malaysia, Nepal, Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore, Oman, Kuwait, Qatar, 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
Africa: South Africa, Nigeria, Egypt, Algeria, Morocco
|Currency||US$ (Data can also be provided in local currency)|
|Supplier Database Availability||Yes|
|Customization Scope||The report can be customized as per the requirements of the customer|
|Post-Sale Analyst Support||360-degree analyst support after report delivery|
Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
1,3-Propanediol is primarily produced via hydration of acrolein. Acrolein is treated with a solution of water and a weak acid (pH 4-5) to make 3-hydroxypropionaldehyde. The intermediate undergoes hydration in the presence of nickel catalyst to produce the desired product, i.e., 1,3-Propanediol.
The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e. government agencies, external trade bodies, and industry publications).
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