The IEA expects world oil demand to decline year-on-year for the first time since 2020, driven by the Iran war and Strait of Hormuz closure. Prices have eased on prospects of a surplus late in 2026, but renewed hostilities threaten supplies and introduce volatility.
During the said period of Q1'24 phenoxyethanol experienced a moderate performance in the Asian markets; a rise in the petrochemical sector influenced the phenoxyethanol market. This market trend was further driven by the global increase in energy and crude oil prices due to OPEC+ price adjustments amid instability in Europe and the Middle East. Production setbacks in OPEC+ members Russia and Iraq also echoed through the wider petrochemical industry, leading to varied market sentiments.
The European market displayed similar trends with slight price increases for phenoxyethanol. The impact was pronounced after Ukrainian forces targeted Russian oil refineries, significantly hampering the region's energy infrastructure and causing a 7% drop in Russian oil output. This disruption pushed production costs higher. Geopolitical turmoil globally and logistical challenges in the Red Sea further complicated the market, particularly affecting Middle Eastern producers.
Phenoxyethanol's pricing trajectory in North America mirrored its Asian and European counterparts. The worldwide spike in crude oil and energy prices elevated costs, while moderate demand from the chemical and fertilizer sectors exerted downward pressure on prices. Overall, a mixed trajectory was observed in Q1'24.
Analyst Insight
According to Procurement Resource, the Phenoxyethanol prices are likely to remain hinged in the coming months. Since the supply and demand dynamic is not projecting much change, the prices are likely to remain steady.
Procurement Resource provides latest prices of Phenoxyethanol. 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.
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Phenoxyethanol is a versatile organic chemical compound often used as a preservative in cosmetics and pharmaceuticals due to its antibacterial and antifungal properties. It is a colorless liquid with a mild rose-like scent, making it suitable for fragrances and skincare products. Additionally, phenoxyethanol is utilized in inks, dyes, and cleaning agents. It serves as a fixative in perfumes and as a solvent in the manufacture of ballpoint pens and degreasers. Its efficacy and low toxicity make it a preferred choice in various industries.
C8H10O2
Cosmetic and Personal Care Products, Pharmaceuticals, Ink and Dye Manufacturing, Cleaning Products, Textile Industry, Adhesives and Sealants, Photographic and Film Processing
DowDuPont Inc., BASF SE, Clariant AG, Air Liquide Group (Schulke & Mayr), Ashland Global Holdings Inc.
CurrencyUS$ (Data can also be provided in local currency)
Supplier Database AvailabilityYes
Customization ScopeThe report can be customized as per the requirements of the customer
Post-Sale Analyst Support360-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.
The production process is initiated by the chemical reaction between phenol and ethylene oxide. The two compounds, phenol and ethylene oxide, react and undergo an addition reaction, yielding phenoxyethanol as its final product.
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