DMF (Dimethylformamide) Price Trend and Forecast

Regional Price Overview

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

Dimethylformamide Price Trend for the Q1 of 2024

Asia

In China, the price trend of dimethylformamide declined through a major part of the first quarter but, in the end phase, moved upwards. The sudden uptick was influenced by Luxi Chemical Plant's restart, boosting dimethylformamide supply. However, downstream demand remained relatively steady, maintaining a positive purchasing atmosphere. Despite the increased supply, inventory pressure persisted, leading to slow consumption. Further, methanol prices fluctuated due to factors like delayed restarts and tight supply, impacting dimethylformamide production costs throughout the quarter.

Dimethylformamide Price Chart

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The loss of exporting volumes due to the disruption of the Red Sea route and the drying of the Panama Canal also exerted a striking influence on the dimethylformamide price trend during the aforementioned period. In India, on the other hand, the price trajectory of dimethylformamide remained stagnant as the market stabilized even under the exceeding pressure of depreciating economic indicators.

Europe

In the European market, the German chemicals sector showed signs of recovery, with a notable slowdown in the decline of received orders. Many challenges, such as the Red Sea attacks causing delivery delays, impacted the arrival of shipments to Europe.

The feedstock methyl amine also limited the growth of the market as the demand from downstream sectors like pharmaceuticals, personal care, dyes, pigments, and agrochemicals remained subdued. However, signs of a turnaround in global manufacturing sector demand were noted by chemical exporters. The rise in the cost of energy production due to the rise in prices of crude oil further resulted in an abrupt rise in the cost of production, raising the concerns of the trading community.

North America

In the first quarter of 2024, the North American market of dimethylformamide followed a similar trail as was observed around the globe. The market saw price surges despite decreases in key feedstock prices like methyl amine in the first half of the quarter. Soon, the mixed demand from downstream sectors, including pharmaceutical, agrochemical, dyes, and pigments, exerted a negative influence on the dimethylformamide market and restricted its growth potential. China's Lunar New Year holidays further halted the export rates and caused a global demand-supply imbalance. With this reduction, the domestic inventories increased by a significant margin, further affecting the dimethylformamide price trend negatively.

Analyst Insight

According to Procurement Resource, the price trend of Dimethylformamide is estimated to follow the trend adopted by its feedstock industries. The general outlook of the downstream industries is further expected to remain bleak in the next quarters.

Dimethylformamide Price Trend for the October - December of 2023

Asia

The Asian market failed to maintain the initial momentum, and the Dimethylformamide prices registered a remarkable fall from approximately 949 USD/MT (CIF, India) in October to 800 USD/MT in November. This depreciation in the prices was attributed to the hike in the level of inventories. On the other hand, there were consistent oscillations in the demand for Dimethylformamide from the downstream adhesives and coatings industries throughout the quarter that stabilized the Dimethylformamide prices only towards the end of the last quarter of 2023.

Europe

In European countries, the Dimethylformamide prices only experienced slight movements in the fourth quarter of 2023. The supposed stagnancy in the market dynamics was marked by the decrement in the rate of procurement from the textile and coating sectors. The consumers did not showcase the required interest in Dimethylformamide as they were hesitant due to the rise in financial troubles and inflationary pressure.

North America

The Dimethylformamide procurement rates in the fourth quarter were reduced by the textile and coating sectors. On top of this, the burden of rising inventories cast a dark shadow on Dimethylformamide prices during this phase. There were some month-on-month fluctuations, but the overall demand from the downstream sectors, both domestically and internationally, traded on the lower end. The combination of the aforementioned causes led to the dimethylformamide price graph's negative trajectory, which was similar to the situations seen in European and Asian nations.

Analyst Insight

According to Procurement Resource, the price trend of Dimethylformamide will be majorly affected by the demand from the adhesives and coating industries, while other factors, such as export plans and economic troubles, are likely to play a detrimental role in dictating the Dimethylformamide price graph.

Dimethylformamide Price Trend for the July-September of 2023

Asia

The price trend of dimethylformamide experienced a downfall throughout the third quarter of 2023. This downfall in dimethylformamide prices was attributed to the consistent decline in the demand for dimethylformamide. On the other hand, the supply of dimethylformamide exceeded its rate of procurement, thus disrupting the supply-demand equilibria. In addition to this, there was a significant depletion in the number of bulk orders of dimethylformamide, aiding the downfall in the dimethylformamide price trend.

Europe

The European countries suffered from the lowering of demand for dimethylformamide from the downstream textile, paints, and coating industries. In view of the weak sentiments of the dimethylformamide market, the consumers also adopted a wait-and-see approach which was evident in the declining rate of purchasing index of dimethylformamide. In addition to this, the excess supply and increasing pressure of inflation challenged the dimethylformamide traders. Thus, the weak potential of the market and the negative effects of inflation ultimately resulted in the decline in dimethylformamide prices.

North America

The textile and coating industries lowered their rates of procurement of dimethylformamide, and the excess influx of dimethylformamide further aided in the downfall of dimethylformamide price trend. The trading of dimethylformamide also remained weak during this quarter of 2023 as the situation of both domestic and overseas downstream industries remained bleak. Similar to the conditions observed in the European and Asian countries, the negative trajectory of the dimethylformamide price graph was a combined result of the above factors.

Analyst Insight

According to Procurement Resource, the price trend of Dimethylformamide are estimated to continue their downward trajectory as the demand and overall trading sentiments of dimethylformamide are expected to remain feeble in the upcoming quarters.

Procurement Resource provides latest prices of DMF (Dimethylformamide). 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.