Heavy Aromatic Naphtha Solvent Prices

Heavy Aromatic Naphtha Solvent Prices June 2024

In India, the heavy aromatic naphtha solvent prices for Q2 2024 reached 830 USD/MT in June. The quarter was characterized by an excess of supply, as production persisted while inventory management remained cautious. This, along with economic uncertainties, impacted industrial activity and purchasing behavior. Factors related to the change in seasons like the recovery period after the monsoon, also had an impact on the market. Even though there was some improvement in the automotive and coatings industries towards the end of the quarter, the pricing trend continued to be negative because of ongoing supply-demand imbalances.

Heavy Aromatic Naphtha Solvent Prices March 2024

The product's price in India rose in the first quarter of 2024. This is linked to the country's strong industrial sector growth. Furthermore, the jump in production levels, combined with an increase in the number of new orders and good market conditions, pushed the price higher. Overall, the price of heavy aromatic naphtha solvent in India in the first quarter of 2024 settled at 846 USD/MT.

Regional Coverage

The report provides a detailed analysis of the heavy aromatic naphtha solvent 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 heavy aromatic naphtha solvent price trend.

Global Heavy Aromatic Naphtha Solvent Price

The report offers a holistic view of the global heavy aromatic naphtha solvent pricing trends in the form of heavy aromatic naphtha solvent 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 heavy aromatic naphtha solvent 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 heavy aromatic naphtha solvent 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 Heavy Aromatic Naphtha Solvent Price

Q2 2024:

The European market faced a marked decline in prices during the second quarter of 2024. Key factors included economic challenges and weakened demand from the industrial cleaning and petrochemical industries. Lower crude oil costs translated into reduced manufacturing expenses, amplifying the downward pressure on market prices. Logistical disruptions, particularly from public holidays affecting transportation and collection, contributed to oversupply issues. Germany experienced notable price drops because of oversupply and declining demand in key industries. The trend was further intensified by seasonal patterns, as industrial operations slowed down during the summer.

Q1 2024:

Heavy aromatic naphtha solvent prices in Europe rose during the first quarter of 2024, despite a drop in demand. Economic uncertainty, lower construction activity, and a shift in customer tastes all contributed to the decline in demand. It also represents low activity in the paints, sealants, and coatings sectors throughout the region.

This analysis can be extended to include detailed heavy aromatic naphtha solvent price information for a comprehensive list of countries.

North America Heavy Aromatic Naphtha Solvent Price

Q2 2024:

During the Q2 of 2024, market in the North America region witnessed a steady reduction in prices. The main reason for this decline was the lower production expenses associated with the fall in crude oil prices. The petrochemical and industrial cleaning industries experienced reduced growth and saw lower demand, causing a more pronounced decline in prices. The United States saw the most marked price changes, influenced by high inventory levels and subdued usage. Although the US manufacturing index rose slightly, signaling positive production prospects, it was insufficient to counteract the oversupply and stagnant demand.

Q1 2024:

Prices in the North American market for the product increased during the first quarter of 2024. This was principally caused by a rise in feedstock prices, which increased pressure on overall production costs. In addition, downstream industry demand for the product remained stable, supporting the price increase.

Specific heavy aromatic naphtha solvent historical data within the United States and Canada can also be provided.

Middle East and Africa Heavy Aromatic Naphtha Solvent Price

The report explores the heavy aromatic naphtha solvent 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 heavy aromatic naphtha solvent prices for countries can also be provided.

Asia Pacific Heavy Aromatic Naphtha Solvent Price

Q2 2024:

In the second quarter of 2024, the heavy aromatic naphtha solvent market in Asia Pacific experienced a significant decrease in prices. One major factor was the surplus, with production continuing despite high inventory levels, leading suppliers to lessen prices in order to stay competitive. Market pressures increased as the need from end-user sectors like coatings, paints, and agrochemicals stayed low. Economic uncertainties and worries about inflation continued to weaken manufacturing activity and purchasing trends. India experienced major cos fluctuations in the area, impacted by post-monsoon recovery and strategic inventory control. In comparison to the earlier quarter, prices dropped considerably, indicating strong unfavorable sentiment. Despite potential improvement from the paints and automotive sectors towards the end of the quarter, the overall market conditions stayed bearish, because of imbalances in supply and demand alongside broader economic challenges.

Q1 2024:

In the Q1 of 2024, the product’s prices displayed an upward trajectory in the Asia Pacific region. This trend was driven by considerable cost pressure from naphtha and crude oil prices. Also, the robust product demand from the downstream paint & coating, sealant, and adhesive industries further supported the price hike in the region.

This heavy aromatic naphtha solvent price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America Heavy Aromatic Naphtha Solvent Price

The analysis of heavy aromatic naphtha solvent 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.

Heavy Aromatic Naphtha Solvent Price Trend, Market Analysis, and News

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

The report examines the elements influencing heavy aromatic naphtha solvent 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.

Heavy Aromatic Naphtha Solvent Market Analysis

The global heavy aromatic naphtha solvent market size reached 133.2 million tonnes in 2023. By 2032, IMARC Group expects the market to reach 190.4 million tonnes, at a projected CAGR of 4.10% during 2023-2032.

• Heavy aromatic naphtha solvents are in high demand in the paints and coatings sector as thinners and solvents, are driving the market growth. This sector is expanding rapidly, with a 3.1% growth rate. The Asia-Pacific paint and coatings business is expected to be worth USD 63 billion in 2022, which is also expanding market reach. China was the largest market in this region, accounting for USD 45 billion in sales.
• The printing industry relies extensively on these solvents, particularly for quick-drying inks. Furthermore, the commercial packaging sector is forecast to develop at a 1% annual rate, reaching USD 841.9 billion by 2032, resulting in increased need for printing inks and related solvents. This is further encouraged by the rising printed label market, which is growing at a rate of 3.8 percent per year and is expected to reach US$ 66.1 billion by 2032.
• The automobile industry recognizes the importance of solvents in car paints and coatings for manufacturing and body repair. These solvents allow a smooth application and long-lasting finishes. In 2022, 85.4 million motor cars were produced worldwide, up 5.7% from 2021, with China accounting for 27,222 thousand units, followed by Europe with 16,480 thousand units and North America with 13,596 thousand units. In addition, China exported 2.1 million vehicles between January and September 2022, a 55% increase over the previous year.
• These solvents play an important role in chemical manufacturing. They have high solvency power, which is critical for the integrity and effectiveness of chemical reactions. In 2022, global chemical sales were Euro 5,434 billion, with Europe coming in second with Euro 760 billion. The chemistry sector in the United States generates $639 billion in revenue annually. This industry also accounts for more than 25% of the US GDP.
• Global infrastructure development drives up demand for paints, adhesives, coatings, and solvents, boosting their market share. In the United States, more than $350 billion in funding has been announced under the Bipartisan Infrastructure Law (BIL) through October 2023. Among these, $9.8 billion has been budgeted to passenger and freight rail, $7.8 billion to airports, $174.7 billion to roads, bridges, and major projects, $34.1 billion to public transportation, and $5.9 billion to ports and waterways, all of which will increase demand for solvents.

Heavy Aromatic Naphtha Solvent News

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

Latest developments in the heavy aromatic naphtha solvent industry:

• In April 2024, INEOS acquired Total Energies’ 50% share of Appryl (300 ktpa polypropylene business), Gexaro (270 ktpa aromatic business), Naphthachimie (720 ktpa steam cracker), and 3TC (naphtha storage).

Product Description

Heavy aromatic naphtha solvent is a complex combination of hydrocarbons derived from petroleum. It typically consists of carbon numbers in the range of C9 through C16. This feedstock chemical has boiling point in the range of 165°C to 290°C (330°F to 554°F) and possesses several properties like high flash point, excellent solubility in organic solvents, low viscosity, relatively high vapor pressure, and density (0.8 to 0.9 g/cubic centimeters).

It is produced in the refinery from crude oil using multiple processes like fractional distillation, reforming, and treatment. It is used in binders, pigments, printing inks, chemical synthesis, automotive paints, cleaning formulations, adhesives, sealants, rubber processing, degreasing agents, agricultural chemicals, and personal care. This feedstock chemical offers excellent solvency, fast drying, compatibility, high boiling point, low freezing point, cost-effectiveness, versatility, and safety in handling.

Report Coverage

Key Benefits for Stakeholders:

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