Hexane Price Trends and Forecast

Regional Price Overview

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

Hexane Price Trends for the First Half of 2023

Asia

Hexane prices showcased upward movement with occasional downward fluctuations. As the Chinese market started opening up after the pandemic restrictions, a surge in downstream demands was observed, especially from solvent, pharma, textile, and other industries. Gain in crude oil prices also contributed to these rising trendss. As the upstream costs eased with supply chain restoration and improvement in the freight situation, some downward phases in the price trendss were observed because demands too fluctuated. Overall rising and positive market sentiment was observed throughout the said period.

Europe

European region exhibited truly mixed price sentiments for Hexane in H1 2023. The market started very slow in the first quarter, primarily because of dull demands from the consuming sectors. But as the second quarter approached economic situation started to improve a little for the Hexane-consuming industries as the energy and crude oil prices started to stabilize.

As the situation started to improve, the consuming sector, like furniture and construction businesses, increased their offtakes, causing the hexane prices on an inclined trajectory in the second quarter. So, prices fell in the first quarter and rose in the second, exhibiting mixed trendss.

North America

Contrary to the global trendss, the American Hexane market started strong in Q1 2023. As the crude oil prices were mostly stabilized, the market demands were consistent and high, so the prices swung high and continued similar upward wavering patterns in the second quarter as well. But as the end of Q2 approached, demands started dipping, and the inventories got filled up again, so some decline was observed in the last two months of May and June in the American Hexane market. Hence, mixed price trendss for Hexane were observed.

Analyst insight

According to Procurement Resource, the Hexane prices will continue oscillating with the uncertain market demands from downstream sectors and the fluctuations in crude oil prices.

Hexane Price Trends for the Second Half of 2022

Asia

Price trendss for hexane in the second half of 2022 showed both a fall and a rise. Initially, during Q3 the prices fell because of a fall in feedstock crude oil prices in the Asian market.  And demanding industries, like textile, furniture, and other manufacturing sector reduced their production because of covid 19 restrictions in China so the demand was also reduced which combined with crude oil prices led to a fall in hexane price trendss around Q3. But during Q4, demands returned, and both Chinese and Indian markets reported higher demands. Supplies were able to sustain the market demands, so the price trendss normalized overall.

Europe

The Russia – Ukraine conflict brought an unforeseen energy crisis in the European region. Energy prices rose to an all-time high and inflation too was breaking records. As the manufacturing sector took a hit, the downstream units considerably cut down the yield. Upstream units too observed the same trends by cutting down the very expensive procurements of crude oil. So, prices started falling after rising for a very little period. As the end of Q4 approached the demands started returning to the market, but the suppliers were still hesitant to enhance capacities just yet, which resulted in supply constraints and a rise in price trendss of hexane.

North America

North American price trendss for hexane replicated its European counterpart for the said period. The crude oil situation curtailed the production capacities and though demands were also reduced for the manufacturing sector, other substitutes were also being used. So, the price trendss witnessed a fall initially but at the end of Q4 a return in demand was noticed production couldn’t keep up with the pace of rising demands, so a rise in price trendss for hexane started.

Analyst insight

According to Procurement Resource, the hexane price trendss will continue to remain volatile considering the crude oil prices, availability and demands from the manufacturing sectors.

Hexane Price Trends for the First Half of 2022

Asia

The crude oil and gas prices reached an unprecedented high due to the economic meltdown unleashed by the Russia-Ukraine confrontation. Hence, these inflated oil prices directly impacted the petrochemical industry. Hexane prices surged throughout the Asian market during the first quarter averaging 1580 USD/MT. The prices continued swelling throughout April due to trade restrictions, port congestions, and supply shortages.

The prices stabilized slightly during May when the upstream crude oil prices relaxed. However, due to healthy demands from the downstream solvent and metal extraction industries, the price trendss for Hexane strengthened towards the end of June 2022. In China, hexane prices averaged 9000 RMB/MT towards the end of June.

Europe

The European region suffered the direct consequences of the Russian invasion of Ukraine, triggering an acute energy crisis across Europe. With the European embargo on Russian oil and western sanctions against Russian exports, the prices of petrochemicals soared throughout Europe owing to the increased upstream operating costs and supply chain shortages. The robust demand from the chemical and metallurgical industries further worsened the situation. The price trendss of Hexane soared throughout the first half of 2022, averaging 2158 USD/MT.

North America

The US domestic market followed a similar price trends as the global market. The raised prices of both Brent and WTI crude oil directly influenced the petrochemical industry. The hexane prices surged throughout the domestic market amid the robust downstream demand averaging 1734 USD/MT. The price trendss remained strong throughout the second quarter due to booming consumer demand.

Procurement Resource provides latest prices of Hexane. 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.