LANXESS India's managing director points to escalating energy, raw material, and logistics costs driven by geopolitical tensions, pressuring margins. The company sees a shift back to cheaper feedstocks as customers grow more price-sensitive, which may impact pricing and availability.
In the first quarter of 2024, the price trend of acetophenone, which is derived from benzene, was influenced by various regional market dynamics. In Asia, particularly China, the steady rise in benzene prices was driven by increasing crude oil prices, limited supply, and a significant recovery in industrial activity post-Lunar New Year, boosting domestic demand. Similarly, South Korea experienced a noticeable surge in the cost of production of raw materials of acetophenone throughout the quarter, significantly affecting the price trend of acetophenone as well. In contrast, India experienced fluctuating benzene prices due to variable manufacturing activity and market adjustments.
On the other side, Europe's benzene market saw instability, attributed to limited trading and periodic shutdowns of manufacturing plants, influenced by volatile crude oil prices and concerns over import dependencies. Meanwhile, in North America, benzene prices surged due to tight supply chains and heightened demand from the aromatics and petrochemical sectors. This trend was exacerbated by maintenance shutdowns at key petrochemical plants, efforts to restock inventories around the Lunar New Year period in China, and limited imports.
However, the surge was limited due to a rise in inventory levels during the end phase of the quarter, and thus, the market took on a slightly stagnant stance. Therefore, the acetophenone market, closely tied to benzene price trends, reflected these regional influences, showing overall variability in pricing due to the interconnected factors affecting benzene supply and demand globally.
Analyst Insight
According to Procurement Resource, the price of Acetophenone is estimated to surge, although at a slower pace, influenced by the challenges and changes in the crude oil and benzene market conditions.
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Acetophenone is an organic compound with the chemical formula C8H8O, characterized by a sweet, floral odor reminiscent of jasmine or almonds. It appears as a colorless to pale yellow liquid at room temperature and is slightly soluble in water but highly soluble in organic solvents like ethanol and acetone. Acetophenone is primarily used as a precursor in the synthesis of various pharmaceuticals, perfumes, and resins.
It also serves as a solvent in the production of plastics, coatings, and inks. Additionally, acetophenone is involved in the manufacture of styrene and other organic chemicals. It has a boiling point of 202°C and a melting point of 20°C, and it is considered relatively stable under normal conditions. Acetophenone's versatility and distinctive aromatic properties make it a valuable compound in both chemical manufacturing and the fragrance industry.
C8H8O
Pharmaceuticals, Fragrance, Resins, Plastics and coatings, Herbicides
Phenyl methyl ketone
Alfa Aesar, Rhodia, INEOS Phenol, CellMark USA LLC, Tanfac, Triveni Interchem, Solvay
CurrencyUS$ (Data can also be provided in local currency)
Supplier Database AvailabilityYes
Customization ScopeThe report can be customized as per the requirements of the customer
Post-Sale Analyst Support360-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.
This single-step simple synthesis involves the oxidation of ethylbenzene in the presence of air to give acetophenone. Although, several side products are also obtained such as benzaldehyde, benzoic acid, etc.
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