For the Quarter Ending March 2024
North America
During the first quarter of 2024, the North American region experienced a uptrend in pricing for Nonylphenol Ethoxylates (NPEs), driven by several key market dynamics. A significant factor contributing to this trend was the rise in demand from various industries, particularly the Personal Care sector, which created a bullish market sentiment. This increased demand, coupled with limited supplies of finished goods and reduced operating rates of manufacturing firms, intensified the upward pressure on prices. The constrained availability of NPEs further fueled market optimism, leading to a favorable pricing environment.
Furthermore, the rise in upstream Ethylene Oxide prices has further supported the increasing trend in Nonylphenol Ethoxylates prices. On the input energy front, the tightening in physical markets, driven by OPEC+ members' decision to extend production cuts, has resulted in bullish Crude Oil prices. This has led to elevated manufacturing costs for Nonylphenol Ethoxylates.
In the USA, the percentage change from the same quarter last year is -2%, indicating a slight decrease in prices. Moreover, there was a 5% price difference between the first and second half of the quarter, with prices escalating in the latter half. As of the latest quarter-ending, the price of Nonylphenol Ethoxylates 9.5 mole FOB Gulf Coast in the USA stood at USD 2500/MT. Overall, the pricing environment for Nonylphenol Ethoxylates in Q1 2024 has been positive, with prices experiencing an upward trajectory.
APAC
In Q1 2024, the pricing environment for Nonylphenol Ethoxylates in the domestic market of China has witnessed mixed trend. Several significant factors have influenced the market prices during this period. The reduced demand from downstream industries, particularly the Personal Care sector, has contributed to the overall decline in prices. China, in particular, has seen the maximum price changes in the region. In February, the market participants have reported that amid the commencement of the Spring Festival Holidays in China, the procurement activities from the downstream firms have remained suppressed. As the Spring Festival approached, markets in various parts of China have gradually entered a state of shutdown and vacation, leading to reduced demand Additionally, logistics have gradually closed, and road transportation has been hindered. Additionally, the geopolitical tensions in the Red Sea and conflicts in the Middle East have caused volatility in the oil market, affecting the prices of Nonylphenol Ethoxylates. In comparison to the same quarter last year, there has been a significant decrease of 9% in prices. From the previous quarter in 2024, prices have decreased by 3%. However, there has been a slight increase of 1% in prices between the first and second half of the quarter. As of the latest quarter-ending price, Nonylphenol Ethoxylate 9.5 mole FOB Qingdao in China is priced at USD 1720 per ton, reflecting the overall decreasing sentiment in the pricing environment.
Europe
The pricing environment for Nonylphenol Ethoxylates in Europe has been marked by rising prices in the first quarter of 2024. This trend has been influenced by several key factors. During a period of low seasonal demand, manufacturers have reduced production rates and adjusted inventory levels to avoid overstocking. This time has been utilized for maintenance and upgrading production facilities, leading to a limited availability of finished goods. Additionally, geopolitical tensions between Israel and Hamas have contributed to higher crude oil prices, thereby increasing the manufacturing costs of Nonylphenol Ethoxylates. In February, the inquiries from the downstream Surfactant and Detergent industries were observed to be moderate amidst a reduction in buying sentiments of the end-use industries. The cost support from upstream raw materials was also limited. Compared to the same quarter last year, prices have decreased by 2%. However, there has been a significant increase in prices from the previous quarter in 2024, recording a 5% growth. The prices have remained stable throughout the quarter, with a 5% price increase from the first half to the second half of the period. The quarter-ending price for Nonylphenol Ethoxylates 9.5 mole FOB Hamburg in Germany is USD 2470/MT, reflecting the overall increasing sentiment in the pricing environment.
For the Quarter Ending December 2023
North America
The North American market for Nonylphenol Ethoxylates witnessed a stable market situation throughout Q4 2023. The moderate supply of finished stocks met the demand from the downstream Personal Care sector, which gradually increased, leading to improved market transactions. The manufacturers opted for price cuts for Nonylphenol Ethoxylates amidst the ongoing destocking season.
The market experienced dropping inflationary pressures, which might escalate demand from the downstream Personal Care sector. The availability of finished Nonylphenol Ethoxylates was sufficient, and consumer sentiments might improve in mid-Q4. No plant shutdowns were reported during the quarter. In the USA, the prices of Nonylphenol Ethoxylates demonstrated a bullish trend throughout the quarter, gaining momentum in the first week of November 2023.
The production activities picked up in the US market with reinforcement in demand from the downstream Personal Care industries. Limited stocks coupled with solid procurement from the terminal market increased the supply-side pressure. Energy prices gained momentum, inflicting the manufacturing cost of Nonylphenol Ethoxylates on the higher side across the regional markets. The prices of Nonylphenol Ethoxylates in the USA were settled at USD 2363/MT, FOB Gulf Coast, at the end of Q4 2023.
APAC
The fourth quarter of 2023 (Q4) for Nonylphenol Ethoxylates in the APAC region witnessed low demand from downstream Personal Care industries, leading to stable prices. The availability of finished goods was low due to lower operating rates in the previous quarter, which raised supply-side concerns. China, which experienced the most significant changes in pricing, saw a bearish market due to the availability of Nonylphenol Ethoxylates on the higher end, leading to price cuts. The limited stocks and solid procurement from the terminal market increased the supply-side pressure. The energy prices rose, leading to higher manufacturing costs of Nonylphenol Ethoxylates in the early Q4, while active demand from downstream Personal Care led to further price adjustments. The price of Nonylphenol Ethoxylates in China at the end of the quarter was USD 1684/MT FOB Qingdao. The percentage change from the same quarter of the previous year was -38%, while the percentage change from the previous quarter was -15%. The price percentage comparison of the first and second half of the quarter had no change. The ongoing destocking season might lead to a greater inclination to release inventories at lower prices. The demand from the downstream Personal Care sector is anticipated to escalate after the Golden Week holidays.
Europe
The European market of Nonylphenol Ethoxylates experienced a challenging Q4-2023, with the prices plummeting due to multiple reasons. The persisting inflationary pressures in the European market coupled with the rising crude oil prices have exacerbated the Phenol market concerns. A decline in demand from the downstream Personal Care sector and the inquiries from the downstream Surfactant and Detergent Sector remaining average have also contributed to the downward momentum of the prices. Additionally, the ECB increasing its key interest rate to 4.50 percent and marking the 10th consecutive rate hike in its most aggressive tightening cycle ever, which began in July last year, has further added to the market's concerns. The persisting geopolitical tension between Israel and Palestine has also led to an increase in the manufacturing costs of Nonylphenol Ethoxylates. Germany, being the most impacted country, has seen a -8% price change from the previous quarter, with a -2% price percentage comparison of the first and second half of the quarter. The current quarter's price of Nonylphenol Ethoxylates 9.5 mole FOB Hamburg in Germany is USD 2360/MT.
For the Quarter Ending September 2023
North America
The prices of Nonylphenol Ethoxylates have demonstrated a volatile market trend In the US market. In early Q3, the prices of Ethoxyates declined amid bearish demand from the downstream Personal Care sector. The downstream market players have already restocked their inventories, resulting in a majority of transactions consisting of small orders. On the upstream front, the cost support from Ethylene Oxide was also limited. On the input energy front, US natural gas futures fell to below USD 2.5/MMBtu at the beginning of August, the lowest level since mid-June, prompted by prospects of lower demand and ample supplies, supporting the downshift observed in the price realizations of Nonylphenol Ethoxylates. Furthermore, towards the end of the third quarter, the prices of Nonylphenol Ethoxylates have gained momentum. The increase in upstream Ethylene Oxide costs has led to a rise in the manufacturing costs of Nonylphenol Ethoxylates. Consequently, this upward cost pressure has been translated into positive price movements for Nonylphenol Ethoxylates. On the other hand, An extreme drought has jeopardized shipping operations on the critical Panama Canal, a key route for 40% of global cargo ship traffic. In September, The demand from the downstream personal care industries was reinforced, and the manufacturers have gradually strengthened their Nonylphenol Ethoxylates offers.
APAC
In China, the prices of Nonylphenol Ethoxylates have remained on the lower end in the third quarter of 2023. The inquiries from the downstream surfactant and detergent sector were moderate. As a result, the manufacturers have maintained the prices at low levels. The cost support from upstream Ethylene Oxide was also limited amid a drop in procurement from its end-use industries. On the supply side, The stocks of finished Ethoxylate goods were sufficient to meet the demand from the downstream industries. Amidst a slowdown in economic conditions across the nation, the operating rates of manufacturing firms remained under pressure for the maintenance of market balance. According to the data released by the General Administration of Customs, China's overall imports, including Nonylphenol Ethoxylates, contracted 14.5 percent in July year-on-year. Exports to the United States, which is the primary destination for Chinese goods, experienced a significant decline of 23.1% year-on-year. The weak demand from the terminal markets has had a direct impact on the manufacturing sector of China. In September, frequent malfunctions in the Ethylene Oxide plant caused a shortage in the market supply. However, it had a minimal impact on the Nonylphenol Ethoxylates market, as the manufacturers had sufficient inventories to supplement the production. Thus, Nonylphenol Ethoxylate 9.5 mole FOB Qingdao prices were settled at USD 1769 per ton in the quarter-end.
Europe
Through the third quarter of 2023, the prices of Nonylphenol Ethoxylates have demonstrated mixed market sentiments in the German market. As per the market participants, the offtakes from the surfactant industries have remained on the lower end. On the other hand, the demand from importing nations such as the UK has also been observed to be lackluster, weakening the demand fundamentals of Nonylphenol Ethoxylates among the manufacturers. The inquiries from the European market have plummeted by approximately 50% from their usual purchasing volumes. On the supply side, the higher levels of ethoxylate stocks have increased the supply-side pressure in the domestic region. As a result, the downstream manufacturers have constrained the production rate to avoid stockpiling the product as the downstream demand remained relatively weak. On the input energy front, the continent's storage levels achieved a capacity of 90.1%, as reported by Gas Infrastructure Europe. Thus, there was sufficient availability to ensure the production of downstream derivates. In September, Dow Chemical, Longbai, and other chemical companies officially announced price increases, which involve multiple industry chains, including Surfactants. As a ripple effect, Nonylphenol Nonylphenol Ethoxylates 9.5 mole FOB Hamburg prices were concluded at USD 2424 at the end of the third quarter.
For the Quarter Ending June 2023
North America
The prices of Nonylphenol Ethoxylates have sustained their downward trajectory in the second quarter of 2023 in the US market. In early Q2, The declining costs of upstream Ethylene Oxide pressured the manufacturing costs of Nonylphenol Ethoxylates. The inquiries from the downstream surfactant and detergent sector also remained moderate, and as a result, the manufacturers have avoided major developments. Furthermore, the WTI Crude Oil prices have fallen as the procurement from importing countries remained sluggish. The inflationary pressures have persisted, and the Nonylphenol Ethoxylates market has operated at low levels. Furthermore, The ongoing economic structuring after the failure of two major banks in the late Q1 of 2023 in the US market has impacted the market performance of key manufacturing sectors. The core inflation has also trended above the US Federal Reserve's targeted levels and inched downwards at a slower pace, pressuring the market fundamentals of several Chemicals, including Nonylphenol Ethoxylates. Moreover, the market concerns have been further exacerbated by the Federal Reserve's additional interest rate hike to combat persistent high inflation, which has curbed the purchasing power of the end-use industries in Q2-end.
APAC
In China, The prices of Nonylphenol Ethoxylates have demonstrated mixed market sentiments in the second quarter of 2023. Despite a boost in manufacturing activities observed in mid-q1, the procurement from the downstream surfactant and detergent industries has not reflected the same trend. The combination of weak upstream cost support and limited inquiries from the Western market has been observed. The market transactions were average as the downstream purchases from the detergent and surfactant industries were mainly based on rigid demand. Thus, the manufacturing units have operated at reduced rates to maintain supply-demand fundamentals. Overall, the supply chain has functioned normally, as no logistic constraints were reported. Furthermore, Crude Oil stockpiles have been added at the fastest rate in May 2023. According to the data released by the National Bureau of Statistics, China's refiners processed 62.0 million metric tons in May, equivalent to 14.6 million bpd. The manufacturing purchasing manager index also contracted amid a slowdown in the economic growth of the nation in Q2. On the upstream front, there has been a decline in Ethylene Oxide prices, along with a drop in Palm Oil costs. The tepid procurement from the downstream surfactant and detergent industries further exerted pressure on the Nonylphenol Ethoxylates market in June.
Europe
Throughout the second quarter of 2023, the weak demand from the downstream surfactant and detergent industries has pressured the market sentiments of Nonylphenol Ethoxylates in the German market. The inadequate inquiries and small orders from the downstream surfactant industries have obstructed price development. The transactions were also relatively weak, and the market operated at low levels. On the supply side, the product availability was sufficient to cater to the downstream demand. The cost support from upstream Ethylene Oxide was limited, and continued inflationary pressures have sapped the market sentiments. The availability of the finished goods was sufficient to cater to the downstream production. The supply chain has functioned normally, as no constraints were reported in the given timeframe. Global container shipping freight rates have remained at the lower end amidst economic slowdown across the regional markets. Furthermore, with lower energy prices, the largest economy in Europe experienced a decrease in its annual inflation rate to 6.1% in May, marking a decline from the 7.2% recorded in April. Overall, in Q2, the manufacturer's quotations were narrowed downward amidst the bearish market outlook.
For the Quarter Ending March 2023
North America
The Nonylphenol Ethoxylates prices have witnessed mixed market sentiments in the first quarter. The global economic slowdown has weakened the trade activities of Ethoxylates in the US market, inflicting the prices to remain bearish in early Q1 on the back of sluggish demand. However, with ease in input cost inflation, the manufacturing operations have improved, and the market fundamentals of Nonylphenol Ethoxylates have been strengthened in mid-Q1. The inquiries from the downstream surfactant and detergent sector have also inched higher and supported the upshift observed in the pricing dynamics of Nonylphenol Ethoxylates. Furthermore, towards the end of the first quarter, the slowdown in demand across the Western region amidst the financial sector worries has amplified container availability, leading to low freight charges. The ChemAnalyst database has shown that Nonylphenol Ethoxylates FOB 9.5 mole Gulf Coast prices were concluded at USD 2579 per ton at the end of the first quarter.
APAC
Throughout the first quarter of 2023, the prices of Nonylphenol Ethoxylates have sustained their downward trajectory in the domestic region of China. Following the relaxation of the COVID restrictions, the market has resumed its regular operations. However, there was a low level of procurement from the downstream surfactant and detergent industries, and freight rates also dropped. On the supply side, The spot inventory of Nonylphenol Ethoxylates was at optimum levels. The production rate of the manufacturing units has also been observed to be streamlined after the Spring Festival holidays. Furthermore, the demand from the downstream surfactant and detergent industries did not improve as The combination of weak upstream cost support and limited inquiries from the Western market has continued to weigh upon the market fundamentals of Nonylphenol Ethoxylates in late Q1. Consequently, Nonylphenol Ethoxylate 9.5 mole FOB Qingdao prices were settled at USD 1965 per ton in March.
Europe
In the German market, the price realizations of Nonylphenol Ethoxylates has observed to be at upper levels. The rising interest rates and tight monetary conditions to combat the raging inflation have impacted the trade activities in the major economy of Europe on a broader level. The build-up of high-cost inventories has resisted the manufacturers from decreasing their offers as the demand from the downstream surfactant and detergent industries was moderate. In order to sustain their profit margins, the prices have remained buoyant. On the supply side, there was adequate availability of the finished goods, and no supply-chain constraints were reported. However, the tight labor market has further pressured the market sentiments of Nonylphenol Ethoxylates. Thus, Nonylphenol Ethoxylates 9.5 mole FOB Hamburg prices averaged at USD 2516 per ton in the Q1-end.
For the Quarter Ending December 2022
North America
In the domestic market of the USA, the weaker demand from the downstream surfactant and detergent industries has weighed on market sentiment. The prices of Nonylphenol Ethoxylates plummeted in the fourth quarter of 2022. At major ports, the congestion has decreased, and vessel utilization is at low levels. The drop in price realizations of Nonylphenol Ethoxylates was aided by a fall in freight costs throughout Asia and overseas markets. Furthermore, the buildup of inventories due to limited procurement from the end-use industries has imposed downside risks on the market fundamentals of Nonylphenol Ethoxylates. The ChemAnalyst database has shown that Nonylphenol Ethoxylates 9.5 mole FOB Gulf Coast prices concluded at USD 2412 per ton at the end of the fourth quarter.
APAC
The prices of Nonylphenol Ethoxylates have remained on the lower end throughout the fourth quarter of 2022. The epidemic situation in China has reduced the production and purchasing sentiments of the detergent and surfactant industries. The cost support from upstream raw materials was also insufficient to cause any major price fluctuation. Transportation and logistics have been hampered amid the implementation of the Zero Covid Policy in the domestic region. The prices of Crude oil have also weakened in the second half and impacted the operational costs of Nonylphenol Ethoxylates. Furthermore, in December, the destocking season further prompted the traders to clear off the inventories. Prices of Nonylphenol Ethoxylate 9.5 mole FOB Qingdao were settled at USD 2834 per ton in Q4-end.
Europe
The drop in procurement from the downstream surfactant and detergent industries has crippled the market growth of Nonylphenol Ethoxylates in the German market. The continued inflationary pressures and burgeoning energy costs have weakened the market sentiments. The inventory levels have escalated, increasing the supply pressure. The purchase from the downstream market was also insufficient and couldn't support the positive developments in the Nonylphenol Ethoxylates' costs. Furthermore, the TTF natural gas prices decreased in December, but the operating rates of manufacturing firms have remained under pressure amid subdued terminal demand. Consequently, Nonylphenol Ethoxylates 9.5 mole FOB Hamburg prices were assessed at USD 2200 per ton in December.
For the Quarter Ending September 2022
North America
The price trend of Nonylphenol Ethoxylates has demonstrated mixed sentiments throughout the third quarter. The NPE prices have first declined and then improved owing to fluctuations in raw material prices. The upstream Ethylene Oxide has also remained fluctuating in the US market, prompting average cost support to the price fundamentals of NPE. The operating rates of downstream surfactant and detergent industries were regular and active offtakes have been observed. The ample availability of upstream Palm Oil in the exporting country has led to improved import offers. In addition, the inflationary pressure has battered the purchasing power of the downstream consumer, inflicting the traders to incline toward a cheaper spot market. Thus, Nonylphenol Ethoxylates FOB Gulf Coast averaged at USD 2475 per tonne in the Q3-end.
APAC
Nonylphenol Ethoxylates (NPE) prices have consistently dropped throughout the third quarter of 2022 in China. The purchases and sales from downstream surfactant and detergent industries were limited. The purchasing manager index has also slipped below 50 against the backdrop of reduced offtakes from the end-use industries. The overflowing inventories of upstream Palm oil have reduced the manufacturer's quotations. The upstream crude oil prices also edged lower, deteriorating the domestic region's market sentiments for Nonylphenol Ethoxylates. The extensive heat waves and resurgence of covid cases have weighed on the factory activities. However, towards the quarter end, the market players have reported that the regular operation rate of manufacturing firms has been adequate to cater to the demand from the end-user industries. Therefore, in September, Nonylphenol Ethoxylate 9.5 mole FOB Qingdao prices were settled at USD 3283 per ton.
Europe
In the German market, the prices of Nonylphenol Ethoxylates dropped in early Q3 and then escalated later. The cost support from upstream Ethylene Oxide and Fatty Alcohol were average. However, the rising costs of Natural gas amidst the curtailed supply from Russia have impacted the manufacturing costs of the downstream detergent and surfactant sector on an extensive term. In September, the inflation rate escalated to 10%, deteriorating the buying sentiments of the end user sector. The spiraling energy costs have prompted recession fears among manufacturers. In addition, the port congestion at Felix Stowe amid the worker strike has pressured the supply fundamentals of Nonylphenol Ethoxylates. Prices of Nonylphenol Ethoxylates FOB Hamburg were assessed at USD 2245 per tonne at quarter-end.
For the Quarter Ending March 2022
North America
Nonyl Phenol Ethoxylates prices in the United States have witnessed strong market sentiments throughout Q1 in response to the higher Ethylene Oxide feedstock prices and outstretching demand. The curtailed operations in ExxonMobil’s Baytown refinery following an explosion in late December have continued to create a supply deficiency of upstream olefins and consequently caused its prices to gain significant numbers. The high upstream pricing, which got transferred to its downstream Ethylene Oxide, weighed on the input cost of Nonylphenol Ethoxylates. Prompting the manufacturers for a price increase, thus, the Nonylphenol Ethoxylates US discussions reached USD 1923/MT FOB Gulf Coast in the quarter ending March 2022.
Asia Pacific
In Asia, the prices of Nonylphenol Ethoxylates have witnessed an increment of 9% in the first quarter of 2022. Increased stockpiling activities with suspended Chinese Nonylphenol imports on account of the Chinese New Year Holiday break in early February have made its price skyrocket in the Indian domestic market, followed by the global shortage. Increased input costs with strong feedstock Ethylene Oxide and Phenol market added to the upward price trajectory in the Asian market. Also, increased application of personal care products kept the demand high from the downstream surfactant sector, causing the Indian prices of Nonylphenol Ethoxylates to soar in March to USD 2330/MT Ex-Kashipur. On the other hand, with declining buying sentiments and high inventory levels, the Chinese NPE prices slipped from USD 3528/MT in January to USD 3347/MT FOB Qingdao in March.
Europe
The European Nonylphenol Ethoxylates market has experienced a bullish pricing trend during Q1 of 2022. This uphill curve owed to the worsening economic crisis against the backdrop of the Russia-Ukrainian conflict. PCC group (Poland), a key exporter, fell short of raw material procurement from Russia because of restricted freight movements associated with the war in the entire region. Hence, the tight product supplies from Poland impacted the Nonylphenol Ethoxylates regional market and the downstream cleaning industry. Additionally, dueling with the supply challenges and inflationary pressure of bullish raw material market has brought about the German prices of NPE as USD 1993/MT FOB Hamburg in March.
For the Quarter Ending December 2021
North America
The North American Nonylphenol Ethoxylates market showed a sharp surge in prices during October and November on account of an unabated rise in ethylene oxide and phenol raw material costs at a global level. Additionally, the hindrances in logistic movements restricted raw material availability thereby curtailing production load and inducing tightness in supply dynamics of Nonylphenol Ethoxylates. The dispatch processes to local downstream industries also took a hit as trucks availability remained critically low during the starting weeks of the quarter. A consistent pull from the downstream surfactant industry raised manufacturers’ sentiments for keeping their contracts firm. However, the ease down in the upstream market along with improving port activities capped the gaining pace of Nonylphenol Ethoxylates prices which averaged out at USD 1774/MT FOB Gulf Coast in the last month of the quarter.
Asia
Prices of Nonylphenol Ethoxylates in Asia continued an upward rally pushed by the firmness in the upstream costs. Amid the raging demand from downstream surfactant industry, the manufacturers in China remained under pressure as they stood helplessly bound by the government’s “Dual Control Policy” that forced them to run productions at curtailed rates. The lingering global logistical barriers along with additional blockages at Chinese ports owing to its zero-covid policies restrained the timely supply of raw materials, further adding to the manufacturers’ miseries. Amid the widening demand-supply gap the Nonylphenol Ethoxylates prices in China settled at USD 3502/MT FOB Qingdao during December. India, during the initial month of the quarter, was also witnessed dueling with the supply challenges and inflationary pressure of bullish raw material market as the offers for Nonylphenol Ethoxylates underwent upward revisions by traders who wanted to safeguard their margin. However, with relaxing freight movements, the traders quickly resorted to stockpiling activity which decreased the country’s dependency on imported volumes whose consistency remained uncertain. Hence, slipping on the downside, the prices of Nonylphenol Ethoxylates in India hovered around USD 1965/MT Ex-Kashipur during December.
Europe
The prices of Nonylphenol Ethoxylates in Europe climbed up effectively in Q4-2021, on the back of inadequate raw material availability and soaring energy prices that exerted immense pressure on the input costs. The spot trading had also turned sour as the logistic delays and soaring freight did not go in favour of the market. Meanwhile, the demand in the surfactant sector continued striding upwards with an increase in buying activities driven by panic from the rising Omicron cases. Though the demand fundamentals projected optimism throughout the quarter, a marginal relief in the Nonylphenol Ethoxylates prices, which were assessed as USD 1857/MT on FOB basis in Germany, had been observed during December in response to the gradually weakening raw material market with improving supply dynamics.
