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Written by Allen » Updated on: October 28th, 2024
In Q4 2023, phenol prices in the USA reached 1415 USD/MT. The report outlines recent developments, updates, and trend in the global phenol market, providing stakeholders with timely and relevant information.
The latest report by IMARC, titled "Phenol Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data," delivers a comprehensive analysis of phenol prices on a global and regional scale, highlighting the pivotal factors contributing to price changes. This detailed examination includes spot price evaluations at key ports and an analysis of pricing structures, such as Ex Works, FOB, and CIF, across North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Phenol Prices December 2023:
Report Offering:
The study delves into the factors affecting Phenol 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/phenol-pricing-report/requestsample
Phenol Price Trend- Q4 2023
Phenol a versatile organic compound, is driven by various factors that influence its production, demand, and applications across industries. One significant factor is its role as a key raw material in the manufacturing of plastics, resins, and synthetic fibers. The demand for phenol in these industries is significantly influenced by the growth of sectors such as automotive, construction, and electronics, which rely heavily on plastic materials.
Additionally, the rising use of phenol in the production of bisphenol-A (BPA), a precursor to polycarbonate plastics and epoxy resins has escalated its market demand. Environmental regulations and consumer preferences for sustainable materials also impact the production and usage of phenol, leading to the development of eco-friendly alternatives and processes.
Phenol Market Analysis
The global phenol market size reached US$ 23.4 Billion in 2023. By 2032, IMARC Group expects the market to reach US$ 33.6 Billion, at a projected CAGR of 4.00% during 2023-2032. In the final quarter of 2023, phenol prices maintained an elevated position. Heightened inquiries from downstream bisphenol A industries bolstered the foundational market aspects of phenol.
Despite economic challenges within the U.S., there was a rise in construction activity, driven by various factors supporting expenditures in residential and nonresidential construction, thereby reinforcing the demand fundamentals of phenol among manufacturers. Market participants reported an increase in production activities within the U.S. market. October witnessed a rise in the U.S. Manufacturing Purchasing Managers' Index (PMI) to 50.0 from 49.8 in September, signaling a stabilization of operating conditions and fortifying the market fundamentals of phenol. Additionally, goods containers have begun returning to U.S. West Coast ports following the resolution of labor issues and capacity constraints at the Panama Canal, indicating a shift in momentum away from East Coast ports.
Phenol pricing in the APAC region during Q4 2023 experienced a bearish market sentiment influenced by various factors. Diminished demand from downstream Bisphenol A industries resulted in moderate to low demand for phenol. Additionally, increased crude oil inventories in the USA and subdued demand from the Chinese market contributed to a decline in crude oil prices, thereby exerting downward pressure on the manufacturing costs of phenol. Moreover, the operational rates of phenol manufacturing firms did not fully recover, and phenol availability was reported to be moderate to high. Japan observed the most significant fluctuations in phenol prices during this quarter. The economy of the country sustained a gradual recovery, primarily supported by favorable financial conditions and the effects of economic stimulus measures.
Whereas, in the fourth quarter of 2023, the European phenol market experienced a bearish trend characterized by moderate to low demand from downstream bisphenol A industries. Throughout this period, sustained inflationary pressures eroded the purchasing power of end-use industries, contributing to bearish market sentiments for phenol. Despite limited production activities, the availability of finished goods remained sufficient. Additionally, a mild winter and above-average inventories contributed to a decrease in European natural gas prices, thereby further lowering production costs.
Browse Full Report: https://www.imarcgroup.com/phenol-pricing-report
Key Points Covered in the Phenol Pricing Report:
The report delivers the following key findings, alongside a comprehensive breakdown of prices by region:
Regional Price Analysis:
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Note: The current country list is selective, detailed insights into additional countries can be obtained for clients upon request.
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IMARC is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
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