Asia
The prices of carbitol were dependent on the performance of the pharmaceutical industries in Asian countries. During the initial phase of H2 of 2023, the demand for carbitol was firm in the domestic market, and the supply was low due to the limited availability of raw materials in the region. These feeble market dynamics suggested a slowdown in the overall activity of the market and thus affected the trajectory of carbitol prices negatively. However, the automotive industries soon increased the procurement rate of the product and helped in the uplifting of the carbitol market.
Europe
The third and fourth quarter of 2023 was a challenging period for the carbitol market in the European countries. The demand for carbitol remained subdued during both quarters, and the key drivers of the market also failed to showcase any improvement in the market activities. However, it was observed that the downstream sector was on the path of recovery, but the pace was slightly slower than anticipated, which thus fell short amid several other challenges. Additionally, the manufacturing sector could not sustain itself under the pressure of inflation, and inventories, along with consumer interest, dried up quickly, serving a negative influence on the carbitol prices.
North America
The condition of the carbitol market in North America was no different than in the Asian and European countries during Q3 and Q4 of 2023. The disruption of the supply-demand equilibrium and a substantial decline in the number of offtakes over a long period of time resulted in a depreciation in the prices of carbitol. Additionally, high raw material prices and upstream sector volatility also affected the cost of manufacturing, leading to a negative trend in the price of carbitol throughout the aforementioned period.