Get the latest insights on price movement and trend analysis of Cumene in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).
Cumene Price Trend for the First Half of 2023
Cumene observed mixed price trends throughout the first half of 2023. As the Chinese markets started opening after the lockdown restrictions, fresh demands from downstream plastic and paint industries boosted the market. These positive trends continued throughout the first quarter as procurement increased because of the Chinese Lunar New Year holidays. But as the stocks started piling up because of rampant supplies, the market sentiments started deviating. As the quarter shifted, the demands started decreasing, and the inventories started rising, causing the cumene price trends to decline. Overall, the first quarter witnessed a rise and the second quarter saw a decline in cumene prices.
In the European cumene market, similar market sentiments to the Asian market were observed. Prices ran high for most of the first quarter, owing to the increased trade activities and demands from the downstream industries as the supply chains and crude oil prices started stabilizing amidst the ongoing Russia – Ukraine conflict. These trends continued till mid-Q2, but as the inventories started rising and demands started declining, the cumene prices also started decreasing and stayed low, swinging till the end of June’23.
Cumene prices rose in the first quarter in accordance with high market demands and good upstream cost support from the feedstock materials. But as the quarters shifted, the market sentiment reversed, and prices went downhill with lowered market offtakes. With a series of inclines and declines, the cumene market fluctuated throughout the first half of 2023.
According to Procurement Resource, the Cumene market is expected to behave in a similar manner in the upcoming months, given the unsettled pricing fundamentals and market dynamics.
Cumene Price Trend for the Second Half of 2022
The prices of cumene kept on the lower side of the scale in the Asia-Pacific region during the said period. This fall was due to the weakening of crude oil prices and rising inflation in the region which deeply affected the demand fundamentals. The Asian currencies also took a major hit, and this impacted the demand for cumene in the domestic and international sectors. Many manufacturing units shut their production considering the new power rationing norms and high production costs. The downstream industries such as phenol and acetone saw a dip in their prices along with their demand, thereby affecting the overall price trends for cumene.
In the European region, the Russia-Ukraine conflict had serious implications for the commodities market. The lower cost support from the crude oil sector was somehow managed by the feedstock market but the declining demand had a negative impact on the cumene price trends. The cheaper options from the Asian markets further affected domestic demand. Along with that, the doom of recession shadowed the region and led to a decline in cumene prices.
The downward trend in the cumene prices was consistent in the North American region in both the third and fourth quarters of 2022. The rising inflation, decreased inquiries, and declining demand from the end-user industries severely affected the cumene market.
According to Procurement Resource, the price trends of cumene are expected to improve in the upcoming quarter given the steady improvement in the supply-demand dynamics. The demand is expected to turn positive in the coming months, however, it will be subject to occasional fluctuations.
Cumene Price Trend For the First Half of 2022
The price trends of Cumene remained strong throughout the Asian market during the first half of the said year. With the surging costs of crude oil and feedstock benzene and propylene amid the strong demand from automotive and chemical industries, the cumene prices increased in the domestic market.
However, a slight dip was seen in the prices because of the renewed production after removing covid restrictions, but soon the robust demand outmatched the supply and caused the prices to rise again. The cumene price averaged 1415 USD/MT in India, while feedstock benzene averaged 1410.58 USD/MT in China.
The staggering energy crisis unleashed in Europe owing to the Russia-Ukraine geopolitical confrontation caused the crude oil and natural gas prices to reach an all-time maximum. The feedstock benzene and propylene cost surged, averaging $1427/ton FOB Hamburg and 929.5 USD/MT CIF Northwest Europe, respectively. However, the prices stabilized towards the end of the second quarter as the upstream costs relaxed along with high-cost inflation and demand destruction.
The US domestic market closely mimicked its European counterpart. The price trends of Cumene soared owing to the high crude oil prices, freight charges, labour shortages and trade bottlenecks. The cumene prices averaged 1240 USD/MT during the said period. The prices soared during the second quarter due to the solid downstream demand from phenol and acetone manufacturers.
Procurement Resource provides latest prices of Cumene. 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.
Cumene is a clear, colourless liquid with a pleasant scent. A wide range of petroleum products contain cumene. Humans may experience headaches, dizziness, drowsiness, mild incoordination, and unconsciousness after experiencing acute (short-term) inhalation exposure to cumene. Cumene has a strong central nervous system (CNS) depressive action with long-lasting narcotic effects in animals and a gradual onset period. Cumene is irritating to the skin and eyes.
|Industrial Uses||Plastic Industry, Production of phenol and acetone, Manufacture of paints, lacquers, and enamels|
|Molecular Weight||120.19 g/mol|
|Supplier Database||Royal Dutch Shell Plc, Exxon Mobil Corporation, BASF SE, Sumitomo Chemical Co. Ltd, The Dow Chemical Company|
|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.
In Friedel–Crafts Alkylation, one of the catalysts such as solid phosphoric acid (SPA) supported on alumina, zeolite, or aluminium chloride, is used to conduct the alkylation of benzene and propylene so as to get the final product, cumene.
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).
Procurement Resource is a one-stop solution for businesses aiming at the best industry insights and market evaluation in the arena of procurement. Our team of market leaders covers all the facets of procurement strategies with its holistic industry reports, extensive production cost and pre-feasibility insights, and price trends dynamics impacting the cost trajectories of the plethora of products encompassing various industries. With the best analysis of the market trends and comprehensive consulting in light of the best strategic footstep, Procurement Resource got all that it takes.
Procurement Resource has made a mark for itself in terms of its rigorous assistance to its clientele. Our experienced panel of experts leave no stone unturned in ensuring the expertise at every step of our clients' strategic procurement journey. Our prompt assistance, prudential analysis, and pragmatic tactics considering the best procurement move for industries are all that sets us apart. We at Procurement Resource value our clients, which our clients vouch for.
Expertise, judiciousness, and expedience are the crucial aspects of our modus operandi at Procurement Resource. Quality is non-negotiable, and we don't compromise on that. Our best-in-class solutions, elaborative consulting substantiated by exhaustive evaluation, and fool-proof reports have led us to come this far, making us the ‘numero uno' in the domain of procurement. Be it exclusive qualitative research or assiduous quantitative research methodologies, our high quality of work is what our clients swear by.