2-Ethylhexanoic Acid Price Trend

2-Ethylhexanoic Acid Prices August 2023

The price of 2-ethylhexanoic acid in the USA in August 2023 was favorable for trade as the construction and automobile industries showed signs of recovery. However, there was a downturn in market sentiments, which resulted in a settlement of 2624 USD/MT. This was attributed to higher imports from Germany, which drove down prices.

In Japan, several manufacturers, including ENEOS Corp in Sakai, temporarily shut down their upstream propylene plants with a capacity of 100,000 mt/year until the end of August due to subdued product demand. This contributed to the downward trend in the market, resulting in a settlement at 1314 USD/MT in the country.

The 2-ethylhexanoic acid prices in Belgium reached 2502 USD/MT in August 2023, influenced by weak demand from the downstream automobile industry. Export prices of 2-ethylhexanoic acid were unaltered even though the National Bank of Belgium Online Statistics showed that the consumer price index (CPI) remained stable. European merchants lowered their stated pricing to remain competitive and retain market share.

2-Ethylhexanoic Acid Price Trend, Market Analysis, and News

IMARC’s newly published report, titled “2-Ethylhexanoic Acid Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” offers an in-depth analysis of 2-ethylhexanoic acid pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

It encompasses an in-depth review of spot price of 2-ethylhexanoic acid at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of 2-ethylhexanoic acid price trend across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

The report examines the elements influencing 2-ethylhexanoic acid price fluctuations, such as changes in raw material costs, supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.

2-Ethylhexanoic Acid Market Analysis

The global 2-ethylhexanoic acid market size reached US$ 674.2 Million in 2023. By 2032, IMARC Group expects the market to reach US$ 1049 Million, at a projected CAGR of 5.00% during 2023-2032.

• 2-ethylhexanoic acid is used in the pharmaceutical industry as a synthesis intermediate to create active pharmaceutical ingredients (APIs). Its chemical makeup makes it possible to create intricate molecular structures that are necessary for the production of a variety of drugs, which advances medical therapies. As per the data provided by the IMARC group, in 2023, the pharmaceutical market in India reached US$ 54.6 billion. The market is projected to grow at a CAGR of 12.3% from 2024 to 2032, reaching US$ 163.1 billion in 2032. In addition, the growing geriatric population that is more susceptible to various age-related issues is driving the demand for 2-ethylhexanoic acid for producing pharmaceuticals. According to the data provided by the WHO in 2022, 1 in 6 individuals globally will be 60 years of age or older by 2030. The number of individuals in the world who are 60 years of age or older is expected to double (2.1 billion) by 2050. It is estimated that between 2020 and 2050, the number of people 80 years of age or older will triple, reaching 426 million.
• The growing utilization of 2-ethylhexanoic acid in the creation of esters used in synthetic lubricants is offering a favorable market outlook. Synthetic lubricants are preferred over conventional oils as they work better in extremely hot temperatures and increase engine efficiency in automobiles and industrial machines. Additionally, in 2023, the synthetic lubricants market in the world was valued at US$ 15.0 billion. The IMARC group projects that the market will reach US$ 21.2 billion in 2032. The rising use of synthetic lubricants in developing nations due to rapid industrialization and increased consciousness about equipment upkeep and operational effectiveness is driving the need for 2-ethylhexanoic acid. An overview of the most current advancements in industrial sectors worldwide was provided in the 29th edition of the International Yearbook of Industrial Statistics 2023. The industrial sectors, which include waste management, mining, manufacturing, power, water supply, and other utilities, grew by 2.3% globally. This need is expected to increase with the expansion and modernization of industries, including aerospace, automotive, and manufacturing.

2-Ethylhexanoic Acid News

The report covers the latest developments, updates, and trends impacting the global 2-ethylhexanoic acid market, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, advancements in 2-ethylhexanoic acid production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the 2-ethylhexanoic acid price trend.

Latest developments in the 2-ethylhexanoic acid industry:

• October 2021: BASF PETRONAS Chemicals planned to double the annual production capacity of 2-Ethylhexanoic Acid (2-EHA) from 30,000 to 60,000 metric tons. This expansion ensures a consistent supply capability with superior quality products in the Asia Pacific area.
• July 2022: Perstorp increased the production capacity of 2-Ethylhexanoic Acid at its Swedish site. The expansion included debottlenecking existing plants and implementing modifications to optimize production efficiency.

Product Description

2-ethylhexanoic acid is a colorless liquid known for its distinctive odor and slightly soluble in water. It is primarily produced through the oxidation of octane or the aldol condensation of butyraldehyde, followed by subsequent oxidation, which ensures consistent quality and purity. It is crucial in the synthesis of various chemical compounds. It stabilizes formulations so that they perform better in a range of situations and have a longer shelf life. It functions as a useful component in a variety of formulations, enabling extensive use in many industries. It lowers total manufacturing costs by increasing product efficacy and processing efficiency. It contributes to environmental sustainability by lowering the ecological impact of chemical processes through the production of biodegradable chemicals. Additionally, automotive coolants and metalworking fluids can effectively be kept corrosion-free by using metal salts of 2-ethylhexanoic acid.

Regional Coverage

The report provides a detailed analysis of the 2-ethylhexanoic acid market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the 2-ethylhexanoic acid price trend.

Global 2-Ethylhexanoic Acid Price

The report offers a holistic view of the global 2-ethylhexanoic acid pricing trends in the form of 2-ethylhexanoic acid price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights current price of 2-ethylhexanoic acid but also provides insights into historical price trends, enabling stakeholders to understand past fluctuations and their underlying causes.

The report also delves into price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed 2-ethylhexanoic acid demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.

Europe 2-Ethylhexanoic Acid Price

The third quarter of 2023 saw minor swings in the 2-ethylhexanoic acid market in Europe, with an increase in prices due to better overseas demand. In response, European manufacturers raised their output to keep up with the growing demands from the paint and coatings sector. However, in September, prices remained steady in the German market due to sluggish demand from the downstream automobile sector of the USA.

This analysis can be extended to include detailed 2-ethylhexanoic acid price information for a comprehensive list of countries.

North America 2-Ethylhexanoic Acid Price

The 2-ethylhexanoic acid market in North America had slight changes in the third quarter, resulting in a general increase in prices. The automobile industry saw a rise in demand for paints and coatings due to an increase in vehicle sales. 2-ethylhexanoic acid prices were steady in September despite higher feedstock costs owing to weak local demand, which resulted in unchanged prices driven by demand from overseas markets.

Specific 2-ethylhexanoic acid historical data within the United States and Canada can also be provided.

Middle East and Africa 2-Ethylhexanoic Acid Price

The report explores the 2-ethylhexanoic acid pricing trends in the Middle East and Africa, considering factors like regional industrial growth, the availability of natural resources, and geopolitical tensions that uniquely influence market prices.

In addition to region-wise data, information on 2-ethylhexanoic acid prices for countries can also be provided.

Asia Pacific 2-Ethylhexanoic Acid Price

In the Asia Pacific region, 2-ethylhexanoic acid prices remained low in the third quarter, with a notable downturn in July due to limited demand from importing countries. However, prices saw a sharp upturn in September attributed to a supply disruption caused by an unexpected plant shutdown, leading to a sudden increase in market prices.

This 2-ethylhexanoic acid price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America 2-Ethylhexanoic Acid Price

In Latin America, the 2-ethylhexanoic acid market witnessed a slight uptrend in July due to increased queries from the USA downstream automotive sector. However, August saw a drop in pricing as European participants loosened their restrictions, which led Brazilian dealers to revise their quotations. There were no notable changes in the market fundamentals throughout September, which was characterized by stability.

This comprehensive review can be extended to include specific countries within the region.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of 2-ethylhexanoic acid pricing, covering global and regional trends, spot prices at key ports, and a breakdown of Ex Works, FOB, and CIF prices.
• The study examines factors affecting 2-ethylhexanoic acid price trend, including raw material costs, supply-demand shifts, geopolitical impacts, and industry developments, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The 2-ethylhexanoic acid price charts ensure our clients remain at the forefront of the industry.