1-Decene Price Trend and Forecast

1-Decene Regional Price Overview

Get the latest insights on price movement and trend analysis of 1-Decene in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

1-Decene Price Trend for the Second Half of 2023

1-Decene is a linear alpha-olefin, and its unsaturated double bond at the first carbon position enables various chemical reactions, making it a versatile compound in the synthesis of many chemicals.
 

1-Decene Price Chart

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The market demand for 1-decene is driven mainly by the polymer industry, where it serves as a crucial component in linear low-density polyethylene production used in packaging and coatings. Additionally, its role in surfactants, detergents, lubricants, and corrosion inhibitors contributes to its significance in multiple sectors, which in turn dictate its price trend.

During the last two quarters of 2023, the Asian market, particularly China, struggled with an oversupply of 1-Decene amidst stagnant domestic and overseas demand, exacerbated by a slowdown in China's industrial sector. On the other hand, India experienced a bullish run-in price due to limited supplies amid restricted trade activities at the Red Sea.

In Europe, logistical challenges, including disruptions in the Red Sea Route and sanctions on Russian imports, hindered raw material influx and industrial growth, while adverse weather conditions further offered additional challenges and eventually resulted in the downfall of the 1-Decene prices. Similarly, the rest of the globe also witnessed a downward price trend fueled by industrial sector downturns and reduced manufacturing costs.

Despite the holiday season, muted demand, particularly from the cosmetics sector, and factors such as unfavorable weather, decreased exports to Europe, and weakened industrial demand for lubricating oil and surfactants further contributed to the decline in 1-Decene prices.

Analyst Insight

According to Procurement Resource, the price trend for 1-Decene is expected to decline as the current market dynamics do not offer any positive insights.
 

Decene Price Trend for the First Half of 2023

After reaching unprecedented highs last year, crude oil and gas prices started stabilizing and thereupon declined during the initial months of 2023. The Indian government revised the windfall tax on crude to Rs 1900 from Rs 2100 per tonne in January’23 in the wake of a price decline.

These lowered feedstock prices, coupled with sufficient inventories and stagnant demand from the downstream sectors, directly impacted the petrochemical and allied industries. Prices of crude oil allied products, including Decene, maintained a bearish trend in the initial few months. With the recent US inflation report and bank failures, both the crude benchmarks reached new-time lows compared to the December’22 levels.

However, after the first quarter, the market pricing fundamentals rebounded as fresh demand was created in the market in the wake of diminishing stocks and the prevalent hoarding sentiment amongst the buyers. However, the crude prices rebounded drastically with Saudi Arabia’s announcement of slashing output by another million barrels per day for at least one month starting from July’23.

These additional cuts were to reinforce the precautionary efforts by the OPEC+ countries to support and stabilize the global oil market. Hence the price trend for Decene and, thereby, all petrochemicals inclined ( within limits) towards the end of the second quarter.

Analyst Insight

According to Procurement Resource, the price trend for Decene are expected to maintain the momentum gathered in the initial half. Given the current pricing fundamentals and newfound demand, the prices are expected to remain afloat in the market.

Procurement Resource provides latest prices of 1-Decene. 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.