Phenolic Resin Price, New, Demand & Supply | ChemAnalyst
During the last quarter of 2023,
Phenolic Resin price in North America showed a downward trend, mainly due to
subdued demand from sectors like adhesives and coatings. With adequate material
supply domestically, consumer interest remained tepid, prompting a decline in
prices. Notably, the USA saw the most pronounced price shifts, with Novolac
Phenolic Resin FOB Louisiana settling at USD 3100/MT.
In the USA, the trend for
Phenolic Resin during this period was bearish, exhibiting a -45% change
compared to the same quarter of the previous year and a -33% change from the
preceding quarter. The price difference between the first and second half of the
quarter in the USA stood at -17%. Weak support from upstream Phenol and
Formaldehyde costs primarily drove the price decline throughout the quarter.
Furthermore, elevated market
inventories, slowed procurement, and consumer destocking of inventories also
contributed to the overall bearish sentiment. In summary, Phenolic Resin
pricing in North America during Q4 2023 was bearish, with the USA witnessing
the most significant price fluctuations.
In the fourth quarter of 2023,
the European Phenolic Resin market witnessed a bearish trajectory, marked by
declining prices throughout the region. The supply of Phenolic Resin remained
constrained due to subdued downstream demand and sluggish import rates.
Manufacturing activities operated at a sluggish pace, leading to tepid domestic
consumption and subdued overseas demand. A primary driver of this bearish
market was the deceleration in manufacturing operations, which curtailed the
availability of Phenolic Resin. Moreover, weakened cost support from upstream
markets exacerbated production challenges.
In Belgium, the price of Phenolic
Resin experienced a notable decline of 6.4% compared to the previous quarter.
When considering the year-on-year comparison, the price of Phenolic Resin in
Belgium plummeted by 31% in the fourth quarter of 2023 compared to the same
period in the previous year, indicating a sustained downward price trend over
time.
Overall, the European Phenolic
Resin market in the fourth quarter of 2023 displayed a bearish trajectory, with
prices diminishing across the region. Belgium notably witnessed a significant
price decrease, mirroring the broader market conditions. The latest price of
Novolac Phenolic Resin FOB Antwerp in Belgium for the fourth quarter of 2023
stood at USD 3420/MT.
About Us:
ChemAnalyst is an online platform
offering a comprehensive range of market analysis and pricing services, as well
as up-to-date news and deals from the chemical and petrochemical industry,
globally.
Being awarded ‘The Product
Innovator of the Year, 2023’, ChemAnalyst is an indispensable tool for
navigating the risks of today's ever-changing chemicals market.
The platform helps companies
strategize and formulate their chemical procurement by tracking real time
prices of more than 400 chemicals in more than 25 countries.
ChemAnalyst also provides market
analysis for more than 1000 chemical commodities covering multifaceted
parameters including Production, Demand, Supply, Plant Operating Rate, Imports,
Exports, and much more. The users will not only be able to analyse historical
data but will also get to inspect detailed forecasts for upto 10 years. With
access to local field teams, the company provides high-quality, reliable market
analysis data for more than 40 countries.
Contact Us:
420 Lexington Avenue, Suite 300
New York, NY
United States, 10170
Email-id: sales@chemanalyst.com
Mobile no: +1-3322586602
Comments
Post a Comment