Product
Hexene Price Trends and Forecast
Hexene Price Trends and Forecast
Regional Price Overview
Get the latest insights on price movement and trends analysis of Hexene in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).
Hexene Price Trends for the July-September of 2023
Asia
The Asian market exhibited mixed price trends for hexene during the third quarter of 2023. Owing to the bearish demands and weak trading activities, hexene prices struggled during the first half of Q3. Chinese manufacturing industries were still trying to revive after the long COVID shutdowns and economic turmoil inflicted, considering the ongoing geopolitical conflicts.
However, the prices revived towards the end of the third quarter, with OPEC+ and Russia announcing production cuts. This created supply shortages in the global market, causing the upstream cost pressure to increase. Hence, the high feedstock prices coupled with slowly inclining downstream demands caused the hexene price trends to incline in the second half of the third quarter.
Europe
The energy crisis unveiled by the economic backlash owing to the Russia-Ukraine war drastically affected the trading sentiments of the European markets. The runaway inflation and high production costs caused the market demands to decline. However, as the alternate trade routes were open, the trade normalized, and some demands returned to the market. Furthermore, the announcement of production cuts by the leading oil producers to stabilize the global oil economy affected the pricing fundamentals of all the petrochemicals and allied industries. The supply shortages, coupled with high feedstock prices and rising demands, caused the hexene prices to rise towards the end of Q3’23.
North America
In line with the global trends, the price graph for hexene fluctuated throughout the said quarter. Initially, the bleak demands with low operability rates affected the market fundamentals for hexene and allied sectors. However, with the production cuts, the supply chains got constricted, thereby affecting the market availability of the product, leading to high prices towards the end of the said quarter.
Analyst Insight
According to Procurement Resource, the price trends for Hexene are likely to remain strong in the coming months, given the production cuts and the rise in demand owing to the approaching winter months.
Hexene Price Trends for the First Half of 2023
Asia
Hexene price trends in the first half of 2023 were driven by rising market offtakes. As the Chinese industries started reviving after Covid 19 lockdown, the downstream demand for Hexene from polymer, resins, and chemical industries started gaining momentum. Given this demand dynamic, the hexene prices have been oscillating on the higher end of the curve. Fluctuating crude oil prices also contributed to the wavering trends. Overall, positive market sentiments were observed.
Europe
The European Hexene market witnessed mixed price trends during H1 2023. Prices oscillated with a positive inclination attributed to increased demand from the downstream industries.
In January, prices had a slow start, given the market uncertainties. But as the demands started picking pace, suppliers started increasing orders, and the prices started catching up. The hexene market performed considerably well, given the high inflation and energy prices that the European economy struggled with. As the energy prices started stabilizing, the Hexene market, too, started stabilizing towards the end of Q2.
North America
American hexene market had a slow start with limited trade activities around the commodity, but the market gained momentum from the middle of the first quarter. Demands from the end consumer and downstream markets started rising, clearing up the existing inventories. Prices started picking pace, and suppliers started ordering more products. The market steadily turned positive, given the healthy momentum. Overall positive price trends for Hexene were observed in the said period.
Analyst Insight
According to Procurement Resource, the Hexene price trends are expected to continue the same growth pattern in the coming quarter. Good supply-demand dynamics are likely to positively impact the overall hexene market.
Hexene Price Trends for the Second Half of 2022
Asia
Asian market price trends for hexene during H2 2022 remained afloat. Incentivized crude oil imports from Russia to major Asian economies including India and China helped with upstream costs. But global inflation and power rationing in China affected the manufacturing sector severely. As demand dipped and upstream costs supported production, Hexene price trends kept on the lower side. A mixed kind of price trends behaviour was observed for hexene.
Europe
H2 2022 brought the wrath of an energy crisis and unforeseen inflation. Russia – Ukraine war in the European continent affected the region’s energy security very adversely. Costs of living heightened and the manufacturing sector took a major hit. The Hexene market downsized in Europe with bare demand. These situations led to a cut in production capacities. Asian imports too competed with the domestic market. Overall hexene price trends remained sluggish.
North America
Hexene prices in the North American region during H2 2022 observed a very mixed approach. A very uncertain supply-demand dynamic and feedstock tribulations kept a bearish life in the market. Sluggish demands from the downstream and end-user markets didn’t help much in strengthening the market. The global economic slowdown had an impact on hexene price trends as well.
Analyst insight
According to Procurement Resource, hexene prices are expected to remain volatile in the coming months. Given the unsteady supply-demand dynamics amidst the fears of a looming recession, the prices will likely keep on the lower side till the demand rebounds.
Hexene Price Trends For the First Half of 2022
Asia
The raised crude oil and natural gas prices during the first quarter directly influenced the petrochemical prices. The increased upstream operating costs, port congestions, and supply shortages cause the prices of Hexene to inflate throughout the Asia-pacific region. During the first quarter, hexene prices averaged between 3300 USD/MT to 3140 USD/MT. In the second quarter, crude oil prices fell due to the global demand stability and supply enhancement; hence, hexene prices stabilized and plateaued.
Europe
The hexene prices initially soared due to the high crude oil prices and robust demand from the polyolefins market. The hexene prices averaged 3940 USD/MT during the first quarter. However, with the relaxation in the upstream operating costs and muted demand from the downstream LLDPE industry, hexene prices declined to an average of 3385 USD/MT in the second quarter.
North America
During the year's first half, the US domestic market registered an oscillating price trends for Hexene. Initially, the prices rose owing to the high upstream operating costs averaging 3595 USD/MT; however, the prices declined during the second quarter due to the muted market sentiments and the looming speculations of a global recession.
Procurement Resource provides latest prices of Hexene. 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.
About
Hexene is an organic compound belonging to the alkenes group. It consists of six carbon atoms in the chain with a double bond at the first position. It is a colorless liquid with a petroleum-like smell and is insoluble in water. Hexene is highly flammable and is a dangerous fire hazard. It is a common irritant, and prolonged exposure can cause nausea, dizziness, and even unconsciousness. It is used to synthesize polymers, resins, paints, dyes, etc.
Product Details
| Report Features | Details |
| Product Name | Hexene |
| HS CODE | 29012990 |
| CAS Number | 592-41-6 |
| Industrial Uses | Polymers, Chemical Intermediates, Paints/Coatings, Resins, Fuel Additives, Perfumes, Flavoring Agent |
| Chemical Formula | C6H12 |
| Synonyms | 1-Hexene, n-Hexene, Hex-1-ene |
| Molecular Weight | 84.16 g/mol |
| Supplier Database | Royal Dutch Shell, SABIC, Linde Group, Chevron Phillips Chemical Company, 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.
Production Processes
- Production of Hexene from Sasol process; from Oligomerization of ethylene
In oligomerization, a monomer is converted into macromolecular complexes through a finite degree of polymerization. Ethylene molecules in the presence of a suitable catalyst are combined to form chains of an even number of atoms.
Methodology
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).
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