Get the latest insights on price movement and trend analysis of Propanol in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).
Propanol Price Trend for the First Half of 2023
Propanol prices fluctuated throughout the said period in the Asian market. Prices started high as the market demands from downstream chemical and metallurgical industries were high. But as the supplies started overflowing and the demands depleted, the propanol prices started falling at the end of the first quarter and continued to fall for the rest of the concerned period. Feeble demands and high stockpiles resulted in these falling price trends of Propanol in later H1.
European market struggled badly with skyrocketing inflation because of the Russian invasion of Ukraine in 2022. Industries downsized, and upstream costs became unsustainable as the energy and fuel prices flung. All sectors suffered as a severe cost of living crisis unfolded.
These events hampered all the industrial sectors, but the manufacturing and construction sectors were affected badly. As the downstream industries struggled, it barely posed any demands for Propanol. The already lying product in the inventories could not be moved, so the new supplies were out of the question. As the market struggled with feeble demands and low activity, bearish trade sentiments were observed around Propanol during H1’23.
The North American Propanol market closely followed the European market trends and remained low swinging owing to the decreased demands and rising product availability. American industries were not struggling as badly, but whatever limited demands were registered were nullified by overstocked inventories and declining upstream costs, given the supply chain and freight normalization. Overall, dull market sentiments were observed.
According to Procurement Resource, the price trends for Propanol are expected to behave in a similar fluctuating manner given the high inventories and bearish demand outlook.
Propanol Price Trend for the Second Half of 2022
Throughout the third quarter, the prices fell due to a combined effect of various factors. The Asian petrochemical industry suffered due to the decline in crude oil prices. Several manufacturing units were forced to close their production as low demand from the downstream industries and uncertainties in the energy market affected the market severely.
The initial months of the fourth quarter followed the previous quarter as the restrictions owing to the COVID-19 pandemic and low demand from end-user industries were persistent. The end of the quarter, however, gave a beam of hope as the prices started to follow an upward trajectory in December. This growth was attributed to the limited supply from the producer's end.
The patterns observed in the Asian-Pacific industry were reflected in the European market. The drop in domestic demand and an increase in energy production costs because of the ongoing Russia-Ukraine conflict fueled the downward growth of prices. The region also saw a fall in feedstock price coupled with average production rates which led to the downfall in the prices in both the third and fourth quarters.
The North American market tumbled throughout the third quarter as labour availability remained scarce and the crude oil crises continued to play a crucial role in the market dynamics during the third quarter. In the fourth quarter, the feedstock ethylene saw a price drop as a result of the reduced upstream crude oil prices along with laid-back demand from the end-user industries, which resulted in the downfall of the prices.
The prices of Propanol are likely to decrease during the coming months given the feeble trading dynamics amid rising volumes of products in the market and lowering offtakes.
Propanol Price Trend For the First Half of 2022
The economic downturn which resulted in the aftermath of the Russian invasion of Ukraine caused unprecedented inflation in the fragile economies. The prices of crude oil soared due to the absence of precious cargo from the Black Sea and port congestions.
Owing to the high feedstock prices, power costs and supply shortages amid robust downstream demand, the prices of petrochemicals and thus propanol soared throughout the Asian market. The price of propanol averaged 1579 USD/MT ex-Delhi during the first quarter.
With the manufacturers not being able to sustain high input costs due to the low running rates and covid restrictions; passed the high prices to the consumers. However, these high prices proved detrimental to the market demand as the buyers baulked citing uncertain supply disruptions.
The price trends for propanol peaked during May but then soon began to tumble because of demand destruction. In the Chinese domestic market, the prices peaked in May averaging 8693 RMB/MT and then stabilized averaging 8242 RMB/MT in June 2022.
The European region faced the direct consequences of the Russia-Ukraine conflict. The conflict triggered an acute energy crisis due to surging crude oil prices which reverberated across all sectors. The price of propanol averaged 2000 USD/MT FOB Rotterdam because of the solid demand from pharmaceutical and solvent extraction industries. The prices surged to an all-time high in the second quarter with the European embargo on Russian oil and western sanctions against SWIFT transactions from Russia.
The US domestic market was not immune to the surging energy and transportation costs. The robust downstream demand amid labour shortages further caused the price trends for propanol to inflate. The price of propanol averaged 1475 USD/MT during the first few months of the said period. Despite the market volatility and supply uncertainty the propanol prices continued to rise.
Procurement Resource provides latest prices of Propanol. 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.
Propanol has the same strong musty smell as rubbing alcohol and is a clear, colourless liquid in appearance. 53–77°F flash point At 700 °F, it self-ignites. Vapors are less irritating to the eyes, nose, and throat than air and are heavier than it. Density of about 6.5 lb per gal. used to create antifreezes, rubbing alcohols, soaps, window cleaners, acetone, medicines, perfumes, lacquer formulations, dye solutions, cosmetics, skin and hair preparations, and other chemicals and goods.
|Industrial Uses||Glass Industry, Production of solvents and alkenes, Flame scarfing, Metallurgical heating and hardening, Welding, Cutting|
|Synonyms||Propyl alcohol, Propan-1-ol, n-propanol|
|Molecular Weight||60.10 g/mol|
|Supplier Database||Dow Chemical Company, BASF SE, Royal Dutch Shell Plc., Eastman Chemical Company, Mitsui Chemicals Inc.|
|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.
This process involves first hydroformylating ethylene with hydrogen and carbon monoxide in the presence of a catalyst, such as rhodium complex, to produce propionaldehyde, which is then hydrogenated to yield propanol as the end product.
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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