2-Ethylhexanol Pricing Report, Trend, Chart, Demand, News, Index, Historical Prices Analysis, Forecast 2024 In Latest Study

A critical factor influencing the global market for 2-ethylhexanol is its significant application in the production of plasticizers, which are extensively used in the manufacturing of polyvinyl chloride (PVC). The demand from the downstream PVC sector, particularly for applications in construction and automotive industries, plays a pivotal role in driving the 2-ethylhexanol market. However, fluctuations in this demand, as observed in the North American market during the fourth quarter of 2023, have contributed to price reductions. Additionally, the market dynamics are heavily influenced by the availability of raw materials such as propylene, which is essential for 2-ethylhexanol production. The sufficient raw material availability, supported by existing stockpiles, has been a contributing factor to the decline in prices in the North American region. Despite these challenges, prospects of recovery were hinted at through strategic price adjustments by major players like OQ Chemicals and anticipated surges in demand from sectors like construction, showcasing the market's resilience and potential for rebound.

The global 2-ethylhexanol market size reached US$ 6.2 Billion in 2023. By 2032, IMARC Group expects the market to reach US$ 9.2 Billion, at a projected CAGR of 4.60% during 2023-2032. In North America, the market experienced a decline in demand from the downstream PVC sector, directly impacting the prices of 2-ethylhexanol. This decrease in demand, coupled with sufficient raw material availability due to existing stockpiles, led to a reduction in prices. Moreover, the market faced disruptions due to unplanned shutdowns of propylene feedstock plants, including those operated by industry giants Dow Chemical and BASF Total Energies Petrochemicals, further complicating the supply chain dynamics. Despite these setbacks, there were indicators of a potential market recovery, underscored by OQ Chemicals' announcement of a price increase for 2-ethylhexanol in November. This move, along with optimistic projections for the construction sector's demand, suggested a possible improvement in market conditions.

The market in the APAC region witnessed a constrained supply of 2-ethylhexanol, primarily due to ongoing shutdowns of major feedstock propylene plants. This supply shortage was compounded by diminishing demand from downstream industries, notably in the construction and PVC sectors, leading to a decline in 2-ethylhexanol prices by over 5% throughout the quarter. The economic conditions, highlighted by a slight decline in China's manufacturing industry PMI, further contributed to weakened demand for the product. Despite the overall bearish market situation, an 8% price increase compared to the same quarter of the previous year was recorded, hinting at a nuanced market recovery. This recovery was likely influenced by maintenance shutdowns at feedstock propylene plants and new production capacities, which together shaped the supply-demand dynamics.

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