Asia
In Asia, the market started strongly in the first quarter, driven by robust demand from the fragrance and personal care sectors, particularly during festive seasons. However, this momentum shifted in the second quarter as manufacturers dealt with oversupply issues and reduced demand.
The market saw some recovery in Q3, especially in India where increased manufacturing activities and export opportunities helped stabilize prices. By Q4, the market faced renewed pressure from currency fluctuations and rising operational costs, leading to more conservative buying patterns.
Europe
The European market followed a different trajectory, beginning 2024 with an upward trend supported by strong performance in the cosmetics and fragrances industry. Major manufacturers reported healthy sales growth, which drove demand for raw materials including Alpha Terpineol. However, this positive momentum waned by mid-year as economic uncertainties led to reduced industrial activity and more cautious procurement strategies. The latter half of the year saw prices trending downward as manufacturers focused on inventory optimization and dealt with competitive pressures from alternative products.
North America
North America maintained relatively stable pricing through most of 2024, though with some fluctuations. The year began with steady demand from key end-use sectors, but prices softened in Q2 due to lower feedstock costs and subdued demand from adhesives and fragrances industries. The market showed resilience in Q3, managing to maintain balance despite occasional supply chain challenges. The fourth quarter saw improved stability as manufacturers successfully aligned production with demand patterns.