Phenol Price: Latest Trend, Historical & Forecast Data

Details About the Phenol:

Additionally, phenol is a crucial raw material in the production of phenolic resins, widely used in wood adhesives, insulation, and coatings. The expanding construction and infrastructure sectors further fuel this demand. The pharmaceutical industry also contributes to the market, using phenol as a precursor in the production of drugs and medical supplies. Moreover, the rise in consumer goods and electronics, coupled with growing urbanization and industrialization, has boosted the Phenol Price Trend globally, making it a vital component in modern manufacturing processes.

Price of Phenol Second Quarter 2024:

United States: 1082 USD/MT
Japan: 947 USD/MT
Germany: 1571 USD/MT

Factors Influencing Phenol Price Trend Across the Regions:

Phenol Price Trend in North America

In Q2 2024, the North American phenol prices demonstrated a significant upward trend, influenced by multiple factors. A key driver behind the price increase was the rise in manufacturing costs, largely due to climbing crude oil prices. The Organization of the Petroleum Exporting Countries and its allies maintained an optimistic outlook for global oil demand, pushing crude prices higher. Anticipated increases in fuel consumption during the summer months further exacerbated this trend. Additionally, there was a gradual uptick in inquiries from downstream construction sectors, which supported the rise in phenol prices.

Phenol Price Trend in the Asia Pacific

In Q2 2024, the price of phenol in the Asia-Pacific region experienced a significant upward trend, influenced by various interconnected factors. A key driver was the tight supply, compounded by strong demand from essential downstream sectors. Limited production rates and trade constraints worsened the existing supply shortage. Additionally, geopolitical tensions in Eastern Europe and the Middle East led to rising crude oil prices, which in turn increased raw material costs and elevated phenol prices. Market participants exhibited cautious buying behavior, often placing smaller orders due to a reluctance to pursue high prices. However, demand recovered following seasonal festivities, which contributed to a notable increase in trading volumes.

Phenol Price Trend in Europe

In Q2 2024, the phenol prices in Europe experienced a mixed pricing trend influenced by several interrelated factors. Early in the quarter, demand from downstream Bisphenol A industries was notably weak, resulting in a decrease in procurement for upstream phenol. This decline led manufacturers to lower their offers. Additionally, limited cost support from benzene constrained the upward pressure on phenol prices. Many downstream production facilities operated at slightly reduced rates, as sufficient finished stock was already available to meet terminal market demand.

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Key Highlights of the Phenol Industry:

The phenol Industry is driven by several key factors, primarily its widespread use across various industries. One of the most significant drivers is the growing demand for phenol in the production of bisphenol A (BPA), which is used to manufacture polycarbonate plastics and epoxy resins. These materials are essential in industries such as automotive, electronics, and construction due to their strength, durability, and versatility.

Overall, Price Trend and Regional Prices Analysis:

Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, 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.
Middle East Africa: Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco.

Note: The current country list is selective, detailed insights into additional countries can be obtained for clients upon request.

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IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provides a comprehensive suite of market entry and expansion services. IMARC offerings include a 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.