2-Ethylhexanoic Acid Prices

2-Ethylhexanoic Acid Prices June 2024

During Q2 2024, 2-ethylhexanoic acid prices in the USA reached 2,976 USD/MT in June. There was a rise in the prices because of the increasing usage in the automotive sector for paints and coatings. Supply challenges, including logistical disruptions and raw material shortages, constricted the market further. Industry leaders like OQ Chemicals altered their prices, thereby capitalizing on these market conditions.

In the second quarter of 2024, 2-EHA prices reached 1,628 USD/MT in Taiwan. The market experienced price volatility, initially rising due to a strong need from the automotive sector. However, a decrease in vehicle sales resulted in a reduction in the demand and prices by the end of the quarter. Supply chain constraints and raw material shortages further complicated the market dynamics.

During Q2 2024, 2-EHA pricing in Belgium witnessed a rise because of robust demand from the automotive sector and increasing industrial activity, thereby reaching 2,942 USD/MT. Supply chain disruptions, including feedstock scarcity and logistical issues, tightened product availability, prompting key players like OQ Chemicals to adjust cost and align with market conditions strategically.

The 2-EHA prices in Brazil reached 2,938 USD/MT in Q2 2024. The market witnessed a price hike because of strong demand from the construction and automotive sectors. The rise in vehicle sales and ongoing supply chain issues created a tight market environment. Companies like OQ Chemicals responded by rising prices, leveraging positive market conditions to their advantage.

2-Ethylhexanoic Acid Prices March 2024

During Q1 2024, 2-ethylhexanoic acid prices in the USA reached 2,883 USD/MT in March. The prices rose initially, driven by increasing applications in the construction sector due to higher restoration and a housing shortage. The automotive industry also played a key role in this trend, particularly because of the heightened sales of electric vehicles (EVs).

2-EHA cost in Japan reached 1,573 USD/MT in Q1 2024. Despite a declining contrast to the previous year, the quarter showed significant growth from the earlier period on account of the stable demand and increased costs of essential feedstocks, reflecting an overall positive pricing trend.

In the first quarter of 2024, 2-EHA pricing in Belgium was 2,795 USD/MT. Prices steadily increased due to heightened applications in the construction and automotive sectors. Key industry players adjusted costs in reply to favorable market environment, reinforcing the upward trend and reflecting the strong market sentiment across the region.

In Q1 2024, 2-EHA prices in Brazil reached 2,839 USD/MT in March. Increased application in the construction and automotive sectors, driven by economic recovery, led to higher prices. Market conditions were favorable, with strategic price adjustments by leading companies reflecting a positive outlook and robust market activity throughout the quarter.

2-Ethylhexanoic Acid Prices August 2023

2-ethylhexanoic acid prices in the USA increased due to favorable trade, which can be attributed to construction and automobile industries showed signs of recovery. However, there was a downturn in market sentiments that resulted in a settlement of 2,624 USD/MT. This was accredited 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 until the end of August due to subdued product demand. This contributed to the downward trend in the market, resulting in a settlement at 1,314 USD/MT in the country.

2-ethylhexanoic acid prices in Belgium reached 2,502 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.

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 the current price but also provides insights into 2-ethylhexanoic acid historical price trends, enabling stakeholders to understand past fluctuations and their underlying causes.

The report also delves into 2-ethylhexanoic acid 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

Q2 2024:

The market in Europe witnessed a notable price increase in the second quarter of 2024, which can be accredited to the growing applications in the automotive sector. With strong car deals across major markets like France, Germany, and Italy, the need for automotive paints and coatings rose, thereby increasing 2-EHA usage. Additionally, supply chain disruptions and feedstock scarcity, particularly of propylene, further constrained the market, contributing to rising prices. Companies, including OQ Chemicals, responded by adjusting their cost strategies to benefit from these favorable conditions. This period highlighted the impact of both demand resurgence and supply limitations, reinforcing a positive pricing environment across the region.

Q1 2024:

During Q1 2024, the market in Europe experienced a favorable trend due to renewed requirement from the construction and automotive industries. Economic recovery across the region stimulated growth in these sectors, thereby increasing 2-EHA usage. The automotive sector's resurgence, alongside rising demand from the construction sector, led to an upward price movement. Market dynamics remained favorable throughout the quarter, with key players like OQ Chemical adjusting costs in reaction to robust market conditions. Belgium saw notable price increases, reflecting strong market activity and ongoing industry adjustments.

Q4 2023:

The third quarter of 2023 saw minor swings in the 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

Q2 2024:

There was a significant increase in prices across the North America region on account of the high utilization in the automotive industry, especially in paints and coatings. The resurgence in the automotive sector was attributed to greater sales of pickup trucks, SUVs, and hybrid vehicles, increased 2-EHA usage. Additionally, supply restrictions because of logistical issues, trade issues, and shortages of key raw materials like propylene further tightened the market, rising prices. Key industry players like OQ Chemicals, benefitted from the scenario and focused on improving their pricing strategies, contributing to the sustained cost growth of 2-EHA in the market. This reflects the broader trend of supply-demand imbalance impacting the industry.

Q1 2024:

In North America, prices went up in the market due to high demand from the automotive and construction industries. Increased construction activities in the USA, fueled by a surge in home renovations and limited housing inventory, led to a higher demand for 2-EHA in paints and coatings. In addition, there were indications of recovery in the automotive sector due to the growing preference for electric vehicles (EVs) which is boosting the demand. In general, the market mood stayed upbeat, evident in the rising prices seen across the region.

Q4 2023:

The 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

Q2 2024:

The market in the Asia Pacific region experienced fluctuations in the second quarter of 2024. Initially, prices increased due to the rising need in the automotive sector, especially in paints and coatings. However, a drop in vehicle sales in June led to a decline in demand, causing prices to dip. The market also faced material shortages, driven by restricted accessibility of key feedstock like propylene. Despite these challenges, companies, including OQ Chemicals, strategically altered cost in reply to these conditions. The region’s mixed sentiments reflected a volatile market environment shaped by supply constraints and fluctuating demand.

Q1 2024:

In the Asia Pacific region, the market experienced a steady increase in prices. The market stayed strong, driven by steady demand from the automotive and construction sectors and an uninterrupted supply chain. Increased costs of propylene and crude oil led to increasing manufacturing expenses, causing prices to rise. The market in Japan showed significant cost fluctuations, with notable increases in contrast to the earlier quarter. The overall sentiment in the region was optimistic, owing to both consistent demand and higher production costs, leading to a positive pricing trend.

Q4 2023:

In the Asia Pacific region, 2-EHA 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

Q2 2024:

In Latin America, the market saw a notable rise in prices because of the growing need in the construction and automotive industries. Supply chain issues and logistical disruptions added to the scarcity of 2-EHA, pushing prices higher. Automotive sales in Brazil increased, thereby enhancing usage for 2-EHA used in paints and coatings. The constrained supply, compounded by raw material shortages like propylene, provided an opportunity for companies like OQ Chemicals to increase prices strategically, maintaining a positive trend in the market amidst strong demand.

Q1 2024:

In Latin America, the market saw a favorable pricing environment for 2-EHA, marked by a positive trend. This rise was largely due to increased applications in the construction and automotive sectors, both benefiting from economic recovery in the region. The automotive sector’s growth  led to the rising 2-EHA prices, supported by robust vehicle sales. Market conditions remained positive throughout the quarter, with companies like OQ Chemical responding to the thriving market environment by making strategic price adjustments, particularly in Brazil, where market sentiment remained strong and prices continued to climb.

Q4 2023:

In Latin America, the 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.

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

IMARC’s newly published report, titled “2-Ethylhexanoic Acid Prices, Trend, Chart, Demand, Market Analysis, News, Historical and Forecast Data Report 2024 Edition,” 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 industry size reached US$ 674.2 Million in 2023. By 2032​, IMARC Group expects the market to reach US$ 1,049 Million, at a projected CAGR of 5.00% during 2023-2032.

• 2-EHA 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-EHA 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 industry, 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:

• April 2023: Petronas Chemicals Group Berhad (PCG) announced plans to expand its specialty chemicals portfolio through the acquisition of Perstorp Group and the development of new facilities, including the expansion of its 2-ethylhexanoic acid plant in Gebeng, Pahang. This strategy aligned with PCG's commitment to sustainability and diversification into high-value products.
• May 2024: OQ Chemicals lifted the force majeure on its German plants, including the production of 2-ethylhexanoic acid, following successful operational resumption and process optimization. All affected products are now being produced at full capacity.

Product Description

2-ethylhexanoic acid (2-EHA) 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.

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.