Hexene Price Trend

Hexene Prices December 2023

The price of hexene in Saudi Arabia for Q4 2023 reached $1661 /MT in December. Saudi Arabia displayed continuous change in price with a significant overall decline. The market was bearish in nature and showcased low to moderate supply levels. The major cause for the decline in price was oversupply, weak economic recovery in China, deglobalization in Europe and America, steady inflationary pressure and lower festival demand sentiments in India. Moreover, the Israel-Hamas conflict contributed to weaker demand sentiments for 1-hexene, with expectations for muted demand as companies await Q4 estimates.

Hexene Price Trend, Market Analysis, and News

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

The report examines the elements influencing hexene 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.

Hexene Market Analysis

The global hexene market size reached 2027.7 thousand tonnes in 2023. By 2032, IMARC Group expects the market to reach 3640.9 thousand tonnes, at a projected CAGR of 6.70% during 2023-2032.

• The increasing demand for linear low-density polyethylene (LLDPE), and high-density polyethylene (HDPE), particularly in the packaging and agricultural sectors, serves as the prime factor bolstering the market growth. The shift towards lightweight and durable packaging solutions, coupled with the rising agricultural film usage for crop protection is fueling market demand.
• Ongoing advancements in chemical research leading to the development of innovative hexene-based applications are providing an impetus to the market growth.
• In line with this, the automotive industry's pursuit of fuel-efficient and lightweight materials like hexene, particularly in manufacturing components that reduce vehicle weight and enhance performance, is aiding in market expansion.
• Additionally, the flourishing expansion of the construction sector, marked by the growing need for durable and resilient building materials, is contributing to the increasing demand and consumption of hexene-based products.
• Another critical factor influencing market growth is the growing focus on sustainability and the circular economy, prompting the exploration of bio-based hexene feedstocks as alternatives to traditional fossil fuel sources. This shift is further supported by regulatory pressures and environmental concerns, pushing industries towards greener alternatives.
• Concurrently, substantial improvements in recycling technologies, particularly those enabling the closed-loop recycling of hexene-based materials, are fostering market expansion by improving resource efficiency and reducing waste.
• In confluence with this, the energy sector's evolution, especially in exploring unconventional oil and gas resources, is acting as another significant growth-inducing factor.
• Furthermore, continuous technological innovations, especially in catalyst and process technologies, have enhanced hexene production's efficiency and yield and made it more cost-effective and appealing to various industries, thus creating a positive outlook for market expansion.
• Apart from this, strategic collaborations and investments in the chemical sector facilitating capacity expansions and the exploration of new markets are presenting lucrative growth opportunities for the market.

Hexene News

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

Latest developments in the hexene industry:

• In February 2023, LyondellBasell and KIRKBI A/S signed a partnership agreement to invest in APK, a company specializing in solvent-based recycling technology of LDPE. The investment emphasizes both the business’s dedication towards the environment and advancements in a sustainable future and aligns with growing interest in circular economy initiatives around the world.
• In April 2022, ExxonMobil launched its new Exceed™ S performance polyethylene (PE) resins, which deliver industry-leading combinations of stiffness and toughness while being easy to process. It utilizes the company's latest innovations in polymer science to reduce the complexity of film formulations and designs while improving its performance, conversion efficiency, and packaging durability.
• In August 2021, Braskem launched a new high density polyethylene – HD1954M that combines great stiffness, outstanding impact resistance and resistance to environmental stress cracking (ESCR), which helps boost packaging productivity and efficiency.

Product Description

Hexene refers to a group of alkanes and olefins known for the presence of double-bond carbon atoms. It serves as a major raw material in the production of various polymer products, such as polyethylene, in the petrochemical industry.

Hexene is a widely utilized plastic, with its applications spanning across packaging, construction, consumer goods, automotive, and other sectors. It is used as a comonomer in the production of HDPE and LLDPE, two major types of polyethylene.

Hexene contributes to the toughness, flexibility, and processability of LLDPE, making it appropriate for applications requiring the formulation of films, such as flexible packaging and agricultural films. Besides this, it also gives HDPE better stress crack resistance and impact strength, making it appropriate for use in blow molding and pipe extrusions.

Regional Coverage

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

Global Hexene Price

The report offers a holistic view of the global hexene pricing trends in the form of hexene 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 hexene 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 hexene 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 Hexene Price

The European region has witnessed a bearish market in Q4 FY2023 due to oversupply from US and Chinese production. Downstream demand dropped, affecting INEOS and LyondellBasell's operating capacities. The construction and automobile sectors' reduced demand, along with high hexene/ethylene copolymer inventories and decreased energy-efficient construction renovations due to subsidy cuts in the Eurozone, further pressured the market. Additionally, the natural gas oversupply and maintenance of major crackers adjusted for falling demand, while logistics challenges at year-end slowed capacities.

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

North America Hexene Price

In Q4 of 2023, hexene prices dropped due to oversupply and bearish ethylene and energy markets, influenced by strong US crude and gas production. Higher interest rates led to muted polyethylene demand, increasing inventory stocks despite retail resilience. The construction market showed recovery signs, but hexene demand weakened due to the Suez Crisis and economic uncertainties, prompting polyethylene producers to cut operations.

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

Middle East and Africa Hexene Price

The hexene market in the Middle East and Africa (MEA) region witnessed a bearish trend due to oversupply and weak demand sentiments in the global market, leading to price drops. Saudi Arabia, in particular, saw a notable price fall due to low to moderate supply levels, setting the price at USD 1661/MT. The main reasons for the decline in prices were oversupply, weak economic recovery of China, deglobalization in Europe and America, steady inflationary pressure, and lower festive demand sentiments in India.

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

Asia Pacific Hexene Price

In Q4 FY2023, hexene prices dropped, influenced by stable then falling ethylene prices and lower demand in China for downstream polyethylene, impacting hexene/ethylene copolymers. Despite PetroChina boosting hexene production, demand in APAC, especially from the automotive sector, remained weak. However, APAC North America trade for hexene showed marginal improvements largely driven by improved sales of automobiles in the US as fuel prices deflated significantly in North America.

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

Latin America Hexene Price

The analysis of hexene 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.

Report Coverage

Key Benefits for Stakeholders:

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