Cumene Prices

Cumene Prices June 2024

Cumene prices in the United States for Q2 2024 reached 370 USD/MT in June. The market faced a steady decline in prices, impacted by weak demand in downstream sectors like acetone and phenol production. Crude oil prices, seasonal slowdowns in construction, and hurricane related disruptions in petrochemical production intensified these pressures, causing a challenging pricing environment across the quarter.

The price trend for cumene in China for Q2 2024 settled at 1,070 USD/MT in June. The market experienced stable pricing, supported by a balanced alignment of supply and demand consistent inventory levels and moderate imports help the market avoid major fluctuations, even during global uncertainties. Minimal seasonal impact and steady requirement from acetone and phenol sectors contributed to this equilibrium, creating a well-maintained pricing stability.

In Belgium, cumene prices for Q2 2024 reached 1,250 USD/MT in June. The market saw a notable price decline on account of subdued demand in solvent related sectors and low production expenses linked to weak naphtha prices. Economic sluggishness and limited construction activity compounded the pressure on prices, while seasonal factors further reduced market activity in the latter half of the quarter.

Cumene Prices December 2023

The cumene prices in the United States for Q4 2023 reached 1453 USD/MT in December. The market saw reduced prices due to a combination of oversupply and diminished demand from key sectors like polycarbonate and coatings. Lower crude oil costs and a decrease in chemical prices globally further affected production costs, leading to a decline in market prices.

The price trend for cumene in China for Q4 2023, reached 1074 USD/MT in December. The market remained steady with stable supply levels and steady demand from sectors, including acetone and phenol. While prices were stable in early October due to the golden week, later in the quarter, prices eased as destocking activities took place, aligning with a broader market trend.

The price trend for cumene in Belgium for Q4 2023, reached 1325 USD/MT in December. The market was characterized by weak demand from sectors such as bisphenol, phenol, and solvents, contributing to lower prices. Amidst a tight labor market, Belgium prepared for its EU Council presidency by emphasizing the need to prevent subsidy competitions that could disrupt the internal market.

Regional Coverage

The report provides a detailed analysis of the cumene 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 cumene price trend.

Global Cumene Price

The report offers a holistic view of the global cumene pricing trends in the form of cumene 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 cumene historical price trends, enabling stakeholders to understand past fluctuations and their underlying causes.

The report also delves into cumene 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 cumene 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 Cumene Price

Q2 2024:

The European cumene market in Q2 2024 witnessed a marked decline in prices, mainly due to weak demand from downstream industries like paints and coatings, coupled with lower production costs driven by falling naphtha prices. This decrease was influenced by abundant local supplies and geopolitical issues that continued to pressure raw material costs. The Eurozone’s manufacturing sector, although slowing its decline, continued to underperform, further straining demand for cumene. Belgium recorded the most pronounced price reductions due to reduced construction activity, regulatory constraints, and broader economic sluggishness. Seasonality also impacted market dynamics, with lower activity in the latter part of the quarter, contributing to a persistently bearish pricing environment.

Q4 2023:

In Europe, the market prices declined in the fourth quarter of 2023 due to reduced crude oil costs and falling prices of upstream benzene as well as downstream phenol and acetone. The region's petrochemical industry faced a mix of weak demand alongside oversupply, prompting some companies to halt production. The cumene market for industries like bisphenol, phenol, and solvents also softened, causing additional price drops. As Belgium prepared for its role as the EU Council president, it resisted easing state aid regulations to prevent a subsidy race that could disrupt the internal market.

This analysis can be extended to include detailed cumene price information for a comprehensive list of countries.

North America Cumene Price

Q2 2024:

During the second quarter of 2024, the market in North America faced a downward trend in pricing because of weak demand across key end user sectors like acetone and phenol production. This subdued requirement, combined with volatile feedstock costs especially crude oil and naphtha, significantly impacted the market sentiment. Additionally, seasonal influences, such as reduced construction activity and the onset of winter, further dampened the market. Hurricanes disrupted petrochemical production and logistics, particularly in offshore areas, tightening the crude oil supply chain. The United States experienced the steepest declines in prices due to these compounded factors, highlighting the sector’s sensitivity to both raw material fluctuations and weather related disruptions.

Q4 2023:

The North America market in Q4 2023, reflected a downward trend, mainly due to an oversupply as well as stable demand from downstream industries. This excess supply, coupled with lower consumption from sectors, such as coatings, paints and polycarbonate caused prices to drop. The seasonal change further contributed to the reduced demand. Freight costs decreased as well, reflecting the overall decline in market activity. Reduced demand across industries, such as agrochemicals, construction, coatings, adhesives, fuel, and lubricants, also played a role in reducing sales volumes.

Specific cumene historical data within the United States and Canada can also be provided.

Middle East and Africa Cumene Price

The report explores the cumene 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 cumene prices for countries can also be provided.

Asia Pacific Cumene Price

Q2 2024:

In the second quarter of 2024, the Asia Pacific market maintained a relatively stable pricing landscape. This stability was largely due to a well-managed balance between supply and need by both retailers and end-use manufacturers, coupled with consistent demand from acetone and phenol sectors. Stable crude oil prices also contributed to the equilibrium by keeping naphtha production costs steady. Minimal seasonal impact during the quarter further supported price stability, enabling the region to avoid the volatility seen in other markets. Overall, the Asia Pacific region showcased a balanced market environment with limited fluctuations.

Q4 2023:

During Q4 2023, the Asia Pacific market faced a downward trend, mainly due to reduced demand from industries, including aromatics, styrene, as well as solvents. Supply remained stable as domestic refineries continued to operate efficiently, but production rates reduced as demand weakened over time. In China, the market remained consistent with a uniform supply, and demand from across numerous sectors, such as phenol and acetone. During October, the prices were unchanged coinciding with the golden week holidays. The second half of the quarter saw significant destocking, which eased price levels.

This cumene price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America Cumene Price

The analysis of cumene prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, industrial growth, and trade frameworks.

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

Cumene Price Trend, Market Analysis, and News

IMARC’s newly published report, titled “Cumene Prices, Trend, Chart, Demand, Market Analysis, News, Historical and Forecast Data Report 2024 Edition,” offers an in-depth analysis of cumene 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 cumene at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of cumene price trend across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

The report examines the elements influencing cumene 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.

Cumene Market Analysis

The global cumene market size reached US$ 21.24 Billion in 2023. By 2032, IMARC Group expects the market to reach US$ 30.8 Billion, at a projected CAGR of 4.10% during 2023-2032.

• The global cumene market growth is driven primarily by increasing demand for phenol and its derivatives, including bisphenol-A and phenolic resins. This is because cumene is an essential intermediate used in the production of phenol.
• In addition, the global cumene market is driven by the wide use of phenolic products in various industries, such as automotive, electronics, construction, or healthcare.
• Another rapidly developing aspect is the global plastics industry, especially in emerging markets, which is bolstering the market growth as cumene is used in the production of polycarbonates and epoxy resins.
• Furthermore, the increased focus on renewable and sustainable chemicals. As a result, advances have been made in the development of bio-based cumene.
• Moreover, the escalating use of cumene by-product in the manufacturing of acetone is providing a considerable thrust to the market growth.
• The production by-product acetone is used in various industries, such as solvents, coatings, and pharmaceuticals.
• Currently, the major consumer of cumene is the Asia-Pacific region. This is due to rapid industrial development, urbanization, and rapid infrastructure in China and India.
• Additionally, significant investments in the petrochemical industry and capacity development also affect the global cumene market.
• Environmental protection also plays a key role in driving the market, as regulations aimed at reducing emissions and creating an environmentally friendly bio-based production contribute to development.
• In line with this, activities such as acquisition, merging, as well as the buying of raw materials by key market players, are facilitating the market growth.
• Apart from this, the emergence of various applications for cumene derivatives, such as pharmaceutical intermediates or specialty chemicals, is positively contributing to the market growth.
• In addition, burgeoning investments in research and development (R&D) activities and investment in new technologies are fueling the market growth.

Cumene News

The report covers the latest developments, updates, and trends impacting the global cumene 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 cumene production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the cumene price trend.

Latest developments in the cumene industry:

• In 2021, Celanese announced its plan to expand its cumene production from recycled carbon dioxide to meet its environmental targets.
• In 2023, BASF SE partnered with Linde Engineering to develop a new process that will use renewable energy sources to produce cumene from carbon dioxide.
• In March 2022, Mitsubishi Gas Chemicals, along with JFE Engineering Corporation, successfully produced cumene from municipal solid waste.

Product Description

Cumene, a vital chemical compound in industrial processes, merits recognition for its versatile applications and contributions across various sectors. Its utilization extends to the synthesis of valuable chemicals like phenolic resins, polycarbonates, and epoxy resins, which find extensive use in construction, automotive, electronics, and healthcare industries. The commendable aspect of cumene lies in its ability to facilitate the production of these essential materials, thereby underpinning the functionality and advancement of numerous products we encounter daily. Additionally, cumene's importance transcends mere industrial applications; it embodies a cornerstone of innovation and sustainability.

With increasing focus on renewable resources and eco-friendly practices, the exploration of bio-based cumene emerges as a promising avenue, aligning with the global shift towards greener chemistry solutions. Furthermore, cumene's role in driving technological advancements cannot be understated. Continuous improvements in production processes enhance efficiency, reduce environmental impact, and contribute to overall market competitiveness. However, it is imperative to acknowledge the challenges associated with cumene, including price volatility of raw materials and regulatory complexities.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of cumene 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 cumene 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 cumene price charts ensure our clients remain at the forefront of the industry.