2-Ethylhexanol Price Trend and Forecast

Regional Price Overview

Get the latest insights on price movement and trend analysis of 2-Ethylhexanol in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

2-Ethylhexanol Price Trend for the Q1 of 2024

Asia

The oscillating journey of 2-ethylhexanol prices in the first few months of the year 2024 was based on the limited growth of the downstream industries and the slow recovery of the Asian economy. In the initial phase of the year, the feedstock chemicals also offered only a meek support to the 2-ethylhexanol market, resulting in fluctuations in the market trajectory and a decline of the 2-ethylhexanol spot prices from approximately 1807 USD/MT in January to 1722 USD/MT in February.

2-Ethylhexanol Price Chart

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However, the rise in overseas demand and rising interest of domestic consumers in in-house produce over international imports led to a slight uptrend in the overall sentiments of the market. With the eventual rise in demand and slow but gradual shift in the economic indicators, the 2-ethylhexanol prices in the first quarter of 2024 finally settled at approximately 1729 USD/MT.

Europe

During the first quarter of 2024, the European market for 2-ethylhexanol experienced a bullish trend for the initial duration based on a tight supply of feedstock propylene and rising upstream crude oil prices. The shortage of feedstock materials and the commodity was further intensified by the adverse weather conditions and loss of imports from the US, prompting key producers to raise their prices.

However, from the end-user industries, the market only gathered a lukewarm response, with mild demand from the plastics and coatings sector and a negligible number of orders from the construction industries. Additionally, high-interest rates and market uncertainty further dampened the demand dynamics of the commodity and eventually turned the initial bullish run of the 2-ethylhexanol prices into an oscillating trend.

North America

The North American prices of 2-ethylhexanol fell on the same trajectory as was observed in the European countries. In the initial months of the quarter, the 2-ethylhexanol price trend inclined gradually amid the rising cost of feedstock chemicals and energy production.

The declining levels of inventories and stable demand from the downstream industries also projected a positive influence on the 2-ethylhexanol market momentum and helped in the rise in the overall dynamics. However, towards the end of it, the 2-ethylhexanol price trend began to dwindle with the fluctuating interest of the consumers based on stagnancy in the economic growth rates and eventual slump in the number of bulk orders.

Analyst Insight

According to Procurement Resource, the price trend of 2-Ethylhexanol is expected to flicker in a narrow zone as it is estimated that with the changes in global trading patterns, the demand of the commodity might improve, leading its price trend towards a northward direction.

2-Ethyhexanol Price Trend for the October - December of 2023

Asia

In the Asian countries, after stumbling in the third quarter, the 2-ethyhexanol price trend were still able to depict an upswing journey. In the fourth quarter, however, the growth of the 2-ethyhexanol prices was challenged by a number of factors. Some of the manufacturers shifted from the production of butyl alcohol to 2-ethyhexanol, which had a noticeable impact on the level of inventories as they appreciated considerably during this quarter, resulting in the initial dip in the spot prices of 2-ethyhexanol prices from 1659 USD/MT in October to 1563 USD/MT in November. However, given the downstream demand, the market was able to revert to approximately 1763 USD/MT in December’23.

Europe

The path of 2-ethyhexanol price trend in European countries was not a smooth one in the fourth quarter of 2023. The manufacturing sector was already under the pressure of rising interest rates and, thus, falling interest from consumers. However, despite the month-on-month fluctuations, the 2-ethyhexanol price trend were able to soar high on account of the high cost of raw materials and the imbalance between the supply-demand equilibria of the market.

North America

The North American region was no different from the above two as the 2-ethyhexanol prices fluctuated only to end the fourth quarter at the higher end. The rise in the trajectory of the 2-ethyhexanol price trend in the US was supported by high cost of production and equal interest of the consumers, especially the downstream coatings and adhesives industries. This formula of high production cost and hike in 2-ethyhexanol prices worked for the traders in this quarter but they fear that this rise in the 2-ethyhexanol prices is short-sighted.

Analyst Insight

According to Procurement Resource, the price trend of 2-Ethyhexanol are expected to follow the trend adopted by the downstream industries.

2-Ethylhexanol Price Trend for July-September 2023

Asia

The third quarter of 2023 turned out to be fairly positive for the 2-Ethylhexanol price trend. Since Chinese manufacturing finally started picking up after a long time, the demand for 2EH showed upward movement. With a couple of 2-Ethylhexanol production plants undergoing maintenance shutdown, a supply constraint was also there, which further promoted the 2-Ethylhexanol prices.

At the beginning of the third quarter, 2-Ethylhexanol prices exhibited bullish trend as the prices rose by about 20% from July to August’23 In the Chinese domestic market. After that, the market attained some long-awaited stability as the prices mostly wavered at the higher end for the entire period. The spot prices escalated from about 1607 USD/MT in August’23 to around 1659 USD/MT in October’23, showing an approximate rise of about 3%. Overall, positive market sentiments were observed.

Europe

Contrary to the Asian market trend, the European market for 2-Ethylhexanol was cold during the discussed period of Q3’23. The construction activities were recorded to be low in the region during this time, which directly led to a demand depreciation in the market. The inventories were also glutted with unused supplies, which directly contributed to the disappointing prices of 2-Ethylhexanol in Europe.

North America

The American market trend for 2-Ethylhexanol were almost identical to the European trend. The feeble demands from the consuming paints, coatings, adhesives, plastics, lubricants, fragrances, and chemical industries caused the downturn in 2-Ethylhexanol prices. Both domestic and export market queries were suffering. Overall, bearish market trend were observed.

Analyst Insight

According to Procurement Resource, the 2-Ethylhexanol prices are likely to continue behaving in a similar manner in the Asian market; however, the American and European markets will strive for some stability in the domestic 2-Ethylhexanol trade.

2-Ethylhexanol Price Trend for the First Half of 2023

Asia

2-Ethylhexanol witnessed mixed price trend in the Asian region in the first half of 2023. In the Chinese domestic market, prices initially surged in the first month of Q1 because of increased demands from downstream construction, lubricant, and soaping industries. But as the Chinese New Year holidays arrived, demands declined, causing prices to decline continuously for the rest of the quarter.

The same downward trend continued in the second quarter, where the prices remained somewhat flat given the sluggish demand patterns. In China, the spot prices of 2-Ethylhexanol went from around 1440 USD/MT in February to about 1260 USD/MT in June’23.

Europe

2-Ethylhexanol price trend remained fluctuating throughout the said period. Demands from the downstream construction and automotive industries continued to drive the market sentiments. Since the onset of the Russia-Ukraine war, the construction and automotive sectors have taken a major hit, as the cost-of-living crisis diverted the spending behavior of European consumers.

After a long slump, a little demand revival was observed, causing the prices to incline slightly around March. But soon after April, the prices went downhill as the demand started falling. This falling demand led to stockpiles in an already over-saturated market which readily aided the downfall in price trend in the second quarter.

North America

American 2-Ethylhexanol market replicated the global oscillating trend in H1 2023. Feedstock prices supported the upstream costs, and prices remained high, swinging for the entire first quarter. Downstream demands were also steady, which contributed to the inclined price patterns, but as Q2 approached, both upstream costs and market offtakes started declining, which shifted the price patterns downwards.

Analyst Insight

According to the Procurement Resource, 2-Ethylhexanol prices are expected to fluctuate in the coming quarter. The production costs and downstream demand will continue to drive the 2-Ethylhexanol market.

2-Ethylhexanol Price Trend for the Second Half of 2022
 
Asia

The prices of 2-Ethylhexanol witnessed a downward trend in the said period. The decline in the demand for 2-EH was owing to the pandemic-related shutdowns/slowdowns in China. Having witnessed the worst heatwaves in over six decades, the Chinese government ordered a complete shutdown of factories to ease power shortages.

This power rationing deeply affected the production rates of the product along with its demand. Given the current market outlook, no prominent demand came from the downstream construction and automotive sectors, thereby further suppressing the prices. The price of 2-Ethylhexanol averaged 1400 (approx.) USD/MT Spot China towards the end of December’22.

Europe

The price trend for 2-EH remained weak during the second half of 2022 across the European market. The high operating and transportation costs due to the economic backlash caused the market’s demand to diminish. Additionally, the fall in the water levels of the Rhine River (handling the majority of water freight in Germany) created additional challenges causing the Ethylhexanol prices to crash.

North America

The US domestic market closely mimicked the international outlook. The diminished demand from the downstream automotive, appliance, and construction factories caused the prices to fall. The planned shutdowns of many factories for maintenance coupled with falling feedstock propylene prices further affected the prices.

Analyst Insight

The prices of 2-EH are expected to gather some momentum in the coming months as the demand rebounds given the relaxation of the variables involved.

Procurement Resource provides the latest prices of 2-EH (2-Ethylhexanol). Each price database is tied to a user-friendly graphing tool dating back to 2014, which offers a range of functionalities: configuration of price series over a user-defined time period; comparison of product movements across countries; customization of price currencies and unit; extraction of price data as excel files to be used offline.