Octanol Price Trend and Forecast

Octanol Regional Price Overview

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

Octanol Price Trend for the Second Half of 2023

Asia

Octanol’s price trajectory for the second half of the year 2023 was highly fluctuating. The prices were found to be escalating during the third quarter of 2023 in major Asian markets, namely India and China. This early surge was primarily attributed to the rise in feedstock ethylene prices. As the OPEC+ decided to restrain supplies, the crude oil prices shot up.
 

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This eventually pushed up the production process for octanol, and thereby, the prices swung across the higher end in the first half of H2’23. However, as the fourth quarter arrived, the momentum started changing for octanol in the Indian and Chinese markets. In the Indian market, the dwindling demands started dominating the pricing equation. On the other hand, the Chinese market was somewhat stable in the latter phase of the said duration.

Europe

Octanol’s market situation in Europe was in relative contrast with the Asian markets during the second half of the year 2023. With a global surge in crude oil prices, the upstream costs were seen rising here as well. However, the economic situation in the region was still complicated. The downstream sectors were not desirably supportive of the market prices. The inventories were still glutted, and thereby, the suppliers could not raise prices much in Europe to sustain the product movement. Overall, a dull market performance was seen for octanol in the European markets.

North America

Octanol prices were found fluctuating in the American market for the entire duration of H2’23. The third quarter observed the prices to be range-bound as the supply and demand outlooks were still at parity. However, as the fourth quarter arrived, the global slowdown started showing up in the American markets as well. The long New Year holiday season in the latter phase of 2023 further pushed the downstream demands down. Overall, mixed market sentiments were witnessed for octanol during the said period.

Analyst Insight

According to Procurement Resource, with the geopolitical uncertainties rising and anticipated incline in crude oil costs, the petrochemical sector, along with Octanol, is expected to see surges in the coming months.
 

Octanol Price Trend for the First Half of 2023

Asia

In the first half of the first quarter of 2023, the prices of octanol suffered due to the weak condition of its feedstock ethylene. The demand from the downstream industries fell consistently during this time frame while the level of imports in China rose significantly, creating an imbalance in the supply-demand equilibria.

In the second half, however, consumption rates of octanol improved and surpassed the supply levels at one point, exerting pressure on its inventories. In the second quarter, however, due to limited procurement, high volatility in the energy costs, and the overall deteriorating condition of the octanol market, the price trend of octanol nosedived.

Europe

In European countries, the first quarter was relatively stable for the prices of octanol as the stagnant growth in demand and sufficient supply of the product kept the market activities afloat in the region. Further, the rising cost of feedstock materials and enhanced momentum of the market proved beneficial for the growth of octanol prices. In the second quarter, however, the drop in prices of energy production, low end-user consumption, rising inventory levels, and high pressure of inflation resulted in the downfall of the prices of octanol.

North America

During the initial phase of the first quarter, the prices of octanol slumped due to insufficient support from the downstream industries and the holiday season in the US. In the latter half, the market dynamics improved a little with the surge in the end-user sector, restricted supply, and overall improvement in the functioning of the octanol market.

The initial phase of the second quarter also followed in the same steps as the level of inventories declined amid high demand from the downstream sector. But from May to June, the trend took a southwards trajectory with weak support from feedstock prices, the need-on-demand shift of inquiries, and the downfall of the US economy.

Analyst Insight

According to Procurement Resource, the price trend of Octanol is estimated to fluctuate as the demand from the downstream sector seems weak amid struggling market conditions.

Procurement Resource provides latest prices of Octanol. 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.