Heavy Alkyl Benzene (HAB) Price Trend and Forecast

Regional Price Overview

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

Heavy Alkyl Benzene (HAB) Price Trend for the Second Half of 2023

Asia

Throughout the H2 of 2023, variations in the benzene market, which serves as a major feedstock of heavy alkyl benzene (HAB), caused its price trends to fluctuate. Though there were early hopes for sustained industrial expansion, the market reached its peak in the third quarter and, since then, has taken a big hit.

Heavy Alkyl Benzene (HAB) Price Chart

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A significant drop in benzene prices, as well as changing customer attitudes, were the main causes of this collapse. The detergent industry was particularly affected, as big domestic players lowered their prices to stay competitive. In India, procurement rates from rural areas were low, notwithstanding a minor increase in urban demand near the end of the quarter.

Europe

The third quarter of 2023 witnessed positive momentum in the prices of heavy alkyl benzene (HAB), primarily due to the rise in the prices of benzene. However, the increase in the price of h7eavy alkyl benzene (HAB) in the third quarter did not carry over into the fourth in European countries.

The declining cost of benzene and the sluggish demand from the downstream surfactant industries emerged as the major causes of concern for traders and manufacturers. The market also saw a notable increase in the cost of producing energy, which was initially thought to be advantageous for the market but quickly led to volatility in the industrial sector as a result of a drop in demand.

North America

The slow recovery rate of the US economy combined with the consumer sector's lack of interest proved fatal for the heavy alkyl benzene (HAB) pricing trends, which led to a decline in prices. In an attempt to protect the industrial sector from imminent inflation and to maintain control over macroeconomic elements, the government imposed stringent financial regulations, which ultimately worked against the interests of heavy alkyl benzene (HAB) pricing. In addition, the loss of export volumes brought on by the Panama Canal's drought and the Suez Canal's port congestion eventually caused inventory levels to soar and heavy alkyl benzene (HAB) price quotations to fall.

Analyst Insight

According to Procurement Resource, the price trends of Heavy Alkyl Benzene (HAB) are expected to bear the consequences of limited movement of the downstream industries and a substantial fall in the cost of feedstock materials.

Heavy Alkyl Benzene Price Trend for the First Half of 2023

Asia

Asia witnessed varied market behavior for heavy alkyl benzene during the first half of the year 2023. As the industries were still struggling to revive, heavy alkyl benzene prices tottered at the lower end in China, influenced by the bearish demands. However, the first quarter was a positive spell for the Indian HAB market as the prices grew since the markets here have been open for a longer time while the Chinese market was under a series of strict lockdowns. Albeit, the prices fell in the second quarter in the Indian markets as well, as the demand started declining, leading to overstocked inventories.

Europe

The European HAB market almost replicated the behavior of the Chinese market as the prices swung low throughout the quarters. A substantial depreciation in the production and transportation costs after the crude oil prices started normalizing in the region was the primary reason for negative market sentiments, as this factor negatively affected the upstream cost support. Also, the inventory levels were already high, and further oversupply disturbed the supply dynamic. Overall, general market behavior was dull.

North America

The North American market was divided for HAB during the said period as the market was slow at the beginning, but slowly picked up the pace as the industrial and economic activities improved. The HAB market was relatively stable in this region.

Analyst Insight

According to Procurement Resource, given the dullness in the HAB market trends, improvement is anticipated in the upcoming months as trade activities are on the rise.

Heavy Alkyl Benzene Price Trend for the Second Half of 2022

Asia

H2 2022 started with a steady decline in HAB (Heavy Alkyl Benzene) prices in the Asian market. Initially, the sullen industrial and economic activities because of the state-imposed lockdown in China were the reason for very low market demands for HAB. But as the markets opened in later Q3, crude oil prices started stabilizing providing the necessary respite to the Asian petrochemical industry. The feedstock benzene prices started declining causing the upstream cost pressure to stabilize eventually leading to a downward wavering, falling trend for Heavy Alkyl Benzene.

Europe

A very mixed price sentiment was observed for Heavy Alkyl Benzene in European markets during H2 2022. Price trend had an oscillating movement, but an overall downward inclination was observed. The reason was bearish demands from the market. High inflation and energy prices here remained the reason for some peaks in the Heavy Alkyl Benzene price trend.

North America

The US domestic market mimicked the same global outlook for the Heavy Alkyl Benzene prices. Because of damped demands in the market, the prices couldn’t sustain a high run. But in later Q4 demands from the industrial sector started rising again and price trend too started rising. Overall, a mixed price trend was observed in this region in the said period.

Analyst Insight

According to Procurement Resource, the price trend for Heavy Alkyl Benzene are expected to remain oscillating (with a little upward inclination) in the coming quarter. As the markets are warming up and industries are opening again, the projections look positive for demand dynamics.

Heavy Alkyl Benzene (HAB) Price Trend For the First Half of 2022

Asia

The high crude oil and natural gas prices due to the Russian-Ukrainian conflict heavily impacted the petrochemical industry. The prices of feedstock benzene soared, which caused the Heavy Alkyl Benzene (HAB) prices to rise in the Indian domestic market along with the booming demand from the downstream detergents and laundry industries. The HAB prices averaged 2848 USD/MT in the Indian domestic market.

However, the price trend for HAB in the Chinese domestic arena were somewhat opposite to that seen in the Indian market. During the first quarter, despite the high crude oil prices, the HAB prices stood firm due to sufficient inventories in the market. The HAB prices declined towards the second quarter owing to the muted market sentiments due to the zero-tolerance covid restrictions by the Chinese government.

Europe

The price trend for Heavy Alkyl Benzene (HAB) remained anchored in the European market throughout the said period. The surging operating costs, supply shortages, trade restrictions and budding downstream demand caused the HAB prices to rise steeply. The HAB prices averaged 2475 USD/MT in the European domestic arena.

North America

The HAB prices surged throughout the US domestic market owing to the heightened energy costs, labour shortages and trade restrictions. The price of HAB averaged 2080 USD/MT during the first quarter of the said year. The prices steadily increased during the second quarter due to the robust downstream demand, and the supply further tightened due to the shutdown of many refineries for annual maintenance checks.

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