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Written by elijah001 » Updated on: September 24th, 2024
United States: 977 USD/MT
In the final quarter of 2023, o-xylene prices settling at 977 USD/MT in December 2023.
The latest report by IMARC Group, titled "O-Xylene Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data," provides a thorough examination of the O-Xylene Prices. This report delves into the price of O-Xylene globally, presenting a detailed analysis, along with informative Price Chart. Through comprehensive Price analysis, the report sheds light on the key factors influencing these trends. Additionally, it includes historical data to offer context and depth to the current pricing landscape. The report also explores the Demand, analyzing how it impacts market dynamics. To aid in strategic planning, the price forecast section provides insights into price forecast, making this report an invaluable resource for industry stakeholders.
O-Xylene Prices Analysis
Report Offering:
The study delves into the factors affecting O-Xylene price variations, including alterations in the cost of raw materials, the balance of supply and demand, geopolitical influences, and sector-specific developments.
The report also incorporates the most recent updates from the market, equipping stakeholders with the latest information on market fluctuations, regulatory modifications, and technological progress. It serves as an exhaustive resource for stakeholders, enhancing strategic planning and forecast capabilities.
Request For a Sample Copy of the Report: https://www.imarcgroup.com/o-xylene-pricing-report/requestsample
O-Xylene Price Trend- Last Quarter
The o-xylene market is experiencing robust growth globally, driven by diverse factors across North America, Asia Pacific, and Europe. In North America, the US o-xylene market saw a prevailing bearish sentiment, largely influenced by declining feedstock Mixed Xylene prices, which lowered the production cost of o-xylene domestically. Additionally, the rising demand for O-xylene is driven by its extensive utilization in downstream industries such as chemicals, plastics, and pharmaceuticals. In contrast, the Asia-Pacific market for O-xylene prices is affected by factors such as slowing economic growth, reduced demand and oversupply in the domestic market contribute to the downward trajectory in prices.
Besides this, in Europe, O-xylene prices are influenced by factors such as fluctuating demand from downstream industries and regulatory frameworks governing chemical production. Moreover, factory production downstream remained at reduced levels during this period, reflecting the broader challenges faced by the European chemical industry. Besides, the heightened tensions in the Israel-Palestine conflict, ongoing geopolitical issues between Russia and Ukraine, and shifts in the global energy market contributed to continuous fluctuations in chemical raw material prices, impacting terminal demand on a broader scale.
O-xylene Industry Analysis
In 2023, the o-xylene market was valued at US$ 4 billion globally. At a predicted CAGR of 4.00% between 2023 and 2032, the IMARC Group projects that the market would reach US$ 5.8 billion by 2032. Due to falling feedstock Mixed Xylene prices, which reduced the domestic production cost of o-xylene, a gloomy feeling pervaded the US o-xylene market in the latter quarter of 2023. End-users' purchasing power was limited by macroeconomic issues such continuous inflationary pressure and high interest rates, which further contributed to the downward pressure on pricing. The Federal Reserve is working toward a 2% annual inflation objective, but it will take some time to reach this aim. Even though the Fed indicated that the current cycle of rate increases will end,
O-xylene prices in the South Korean market consistently decreased in the fourth quarter of 2023, which was indicative of difficult circumstances in the nation's chemical sector. This decline was also caused by a number of other causes, including slower economic development, less demand, and overstock in the domestic market. The drop in the price of feedstock mixed ethylene further undermined domestic cost support for o-xylene. Furthermore, the downstream phthalic anhydride industry's demand remained muted, especially in the building sector, with prospects for a possible uptick in demand in the latter half of Q1 2024.
O-xylene prices in Europe fell in the German market as a result of a worsening economic crisis that was ascribed to a lackluster domestic market. Furthermore, delayed consumption from end-user building industries contributed to the downstream Phthalic anhydride industry's sluggish demand on the domestic market, which further put pressure on o-xylene pricing. In addition, market players noticed a spike in destocking operations around the end of the year, which was exacerbated by falling feedstock Mixed Xylene prices. This led to lower domestic production costs for o-xylene. As a result, adequate stock levels lessened the effect on downstream demand as a whole, which fueled negative market sentiment for o-xylene.
Regional Price Analysis:
Note: The current country list is selective, detailed insights into additional countries can be obtained for clients upon request.
About Us:
IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
Contact us:
IMARC Group
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Email: [email protected]
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