O-Xylene Prices

O-Xylene Prices June 2024

The o-xylene prices in the United States for Q2 2024 reached 1,050 USD/MT in June. The country faced mixed pricing trends during the quarter. The United States saw a rebound in new residential construction, with housing starts increasing after a substantial drop in March. However, building permits continued to decrease, signaling potential future slowdowns.

The price trend for o-xylene in South Korea for Q2 2024 was 1,165 USD/MT in June. The market observed an upward trend regardless of a drop in feedstock naphtha prices. The country witnessed stable demand for o-xylene from the downstream phthalic anhydride industry on account of the steady consumption from the domestic construction industry.

Germany’s o-xylene prices for Q2 2024 reached 1,435 USD/MT in June. The market showcased downward pricing dynamics driven by a significant drop in the prices of feedstock naphtha, which decreased domestic manufacturing costs. Despite import delays, the domestic market supply was sufficient to meet the existing weak demand, contributing to continued price reductions.

O-Xylene Prices December 2023

The o-xylene prices in the USA for Q4 2023 reached 977 USD/MT in December. The market struggled due to falling feedstock costs and macroeconomic pressures, which included inflation and high interest rates. The reduced production costs and weak demand from the phthalic anhydride sector led to lower prices. Despite global supply disruptions, local inventory remained adequate, pushing producers to reduce prices further.

The price trend for o-xylene in South Korea for Q4 2023, reached 960 USD/MT in December. The market faced declining prices amid economic slowdowns, lowered demand, and oversupply issues. Fluctuating feedstock costs and weak downstream need from construction activities pressured the market, leading manufacturers to sell out existing inventories at lower prices. Small-scale transactions and subdued inquiries from China also contributed to the challenging market conditions.

The price trend for o-xylene in Germany for Q4 2023, reached 1275 USD/MT in December. The market saw prices drop because of a weak economy and reduced demand in the chemical sector. Geopolitical tensions and fluctuating raw material costs created instability, while a lack of need from the construction sector pushed prices down. Ample supply and reduced industrial activity led manufacturers to clear stocks at competitive rates.

Regional Coverage

The report provides a detailed analysis of the o-xylene 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 o-xylene price trend.

Global O-Xylene Price

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

The report also delves into o-xylene 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 o-xylene 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 O-Xylene Price

Q2 2024:

In the European region, the o-xylene market exhibited a downward trend during the second quarter of 2024, influenced by several market factors. This decrease was supported by a significant reduction in feedstock naphtha prices, which lowered domestic manufacturing costs. Production rates remained low as the downstream demand from the phthalic anhydride industry did not show substantial recovery within the domestic market. Apart from this, heavy rainfall and flooding in Bavaria and Baden-Württemberg had minimal impact on trading activity, which remained subdued.   

Q4 2023:

In Q4 of 2023, the market saw a price decline, driven by a sluggish economy and weakened demand across the chemical sector. Geopolitical tensions, particularly in the Middle East and Eastern Europe, caused significant variations in raw material costs, affecting broader market stability. The construction sector's reduced activity further slowed need for downstream products like Phthalic anhydride, adding to price pressure. Competitive proposals from Asia, combined with a steady supply of o-xylene, encouraged manufacturers to reduce prices to clear inventories. With minimal enhancements in industrial manufacturing and high inventory levels, the market sentiment remained bearish, showcasing the broader challenges facing Europe’s chemical industry.

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

North America O-Xylene Price

Q2 2024:

During the second quarter of 2024, o-xylene prices in the North American region displayed mixed sentiments. O-xylene prices saw a significant increase in the domestic market by mid-Q2, regardless of low feedstock naphtha prices. This upward trend was driven by robust demand from the downstream phthalic anhydride industry. In addition, the construction sector, a key end-user of phthalic anhydride, indicated improvement, sustaining higher o-xylene prices. This occurred despite challenges such as elevated mortgage rates. Furthermore, market activity remained subdued as buyers refrained from large-scale purchases.

Q4 2023:

The o-xylene market in the USA faced a bearish trend due to falling feedstock costs and economic challenges. Lower mixed xylene prices reduced o-xylene production expenses, driving down prices in the local market. Inflation and high rates of interest weakened consumer purchasing power, while the Federal Reserve’s inflation target seemed distant, despite plans to halt rate hikes. Demand from the downstream phthalic anhydride sector remained weak, with purchasers hesitant to invest amid uncertainties. Global market demand was similarly restrained, further applying coercion on prices. O-xylene availability stayed adequate despite the supply chain disruptions in the Red Sea and Panama Canal, encouraging producers to offload excess inventory at reduced rates.

Specific o-xylene historical data within the United States and Canada can also be provided.

Middle East and Africa O-Xylene Price

The report explores the o-xylene 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 o-xylene prices for countries can also be provided.

Asia Pacific O-Xylene Price

Q2 2024:

In Q2 of 2024, the Asia-Pacific o-xylene market experienced significant price movements. The market showed an overall upward trend throughout the quarter. This was despite a decline in feedstock naphtha prices, which had a minimal effect on o-xylene pricing. Apart from this, demand for o-xylene from the downstream phthalic anhydride industry remained stable, supported by steady consumption from the domestic construction sector. Additionally, there was a noticeable increase in inquiries from the United States and European markets, driven by restocking efforts, which further supported the price elevation.

Q4 2023:

The o-xylene market in South Korean in Q4 2023 saw continuous price drops amid economic challenges, lowered need, and extra supply of products. The downturn in feedstock mixed xylene costs, despite fluctuating crude oil markets, led to minimal price support for o-xylene production. The sluggish demand from the phthalic anhydride sector and weak construction activity further dampened the market. The domestic market was mostly portrayed by small-scale transactions, with Chinese market inquiries also dwindling due to economic uncertainties. Meanwhile, steady manufacturing situations failed to increase o-xylene demand, prompting firms to clear catalogues at lower costs. While the purchasing manager index indicated slight stability, market conditions remained pressured.

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

Latin America O-Xylene Price

The analysis of o-xylene 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.

O-Xylene Price Trend, Market Analysis, and News

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

The report examines the elements influencing o-xylene 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.

O-Xylene Market Analysis

The global o-xylene market size reached US$ 4 Billion in 2023. By 2032, IMARC Group expects the market to reach US$ 5.8 Billion, at a projected CAGR of 4.00% during 2023-2032.

• The growing awareness about environmental sustainability drives the demand for eco-friendly alternatives, stimulating the development of bio-based o-xylene derivatives with low volatile organic compound (VOC) emissions.
• The rise in industrial activities, especially in manufacturing and automotive sectors, escalates the need for o-xylene-based products such as paints, coatings, and adhesives.
• The rising stringent regulations promoting the use of o-xylene in environmentally friendly formulations and the implementation of safety standards in industrial cleaning products bolster market expansion.
• Rapid expansion of the electronics and packaging industries fuels the need for polyester fibers, wherein o-xylene plays a crucial role in their production.
• Continual advancements in chemical manufacturing technologies enhance o-xylene production efficiency, contributing to market growth.
• The growing popularity of consumer goods, such as perfumes, cosmetics, and household cleaning products, drives the need for o-xylene as a raw material in their formulation.
• The growing trend of urbanization and infrastructure development drives the demand for construction materials, such as plastics, coatings, and adhesives, further boosting the o-xylene market.
• Expanding pharmaceutical industry, which relies on o-xylene for the synthesis of various active pharmaceutical ingredients (APIs) and intermediates.
• The shifting trend of urban gardening and landscaping augmenting the demand for o-xylene-derived products such as fertilizers, pesticides, and herbicides, supporting agricultural applications.
• The rise in research and development activities for novel applications of o-xylene in emerging sectors such as nanotechnology and biotechnology present new growth opportunities for market players.
• The emergence of new applications in the energy storage sector, such as lithium-ion batteries, drives the demand for o-xylene-derived materials for electrode coatings and electrolytes.
• The increasing emphasis on infrastructure development and smart city initiatives worldwide creates opportunities for o-xylene-based products in construction materials, telecommunications equipment, and urban utilities.
• Growing emergence of new technologies, such as 3D printing and additive manufacturing, presents opportunities for o-xylene-based materials in prototyping and production processes.

O-Xylene News

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

Latest developments in the o-xylene industry:

• On February 19, 2024, LOTTE Chemical began the commercial production of Hydroxy Ethyl Cellulose (HEC) at its new Yeosu plant has a strong EO (Ethylene Oxide) supply source and commits to the diversification of the specialty products segment. In addition, their tie-up with LOTTE Fine Chemical helps the secure supply of EO, enables them to produce around 10,000 tons of HEC per year, and strengthens their position in the specialty materials market. HEC, a kind of additive that is widely used in many industries, paves the way for the LOTTE Group's advancement both in high-value business growth and industrial leadership.
• On February 29, 2024, Honeywell (Nasdaq: HON) and Hisense teamed to deliver the Solstice® 454B refrigerant, a sustainable option with low global warming potential (GWP), for Hisense's residential air conditioners. The partnership conforms to a universal trend of phasing out HFCs, accompanied by regulatory and legislative measures and the U.S. EPA's decision to cut HFC production from January 1, 2024.
• In November 13, 2023, Exxon Mobil Corporation (NYSE: XOM) has initiated the first phase of lithium production in southwest Arkansas, aiming to become a leading lithium producer for EV batteries, with the product branded as Mobil™ Lithium.

Product Description

O-xylene is a colorless, aromatic liquid with a sweet smell that contains strictly hydrocarbon compounds. Its main purpose is to be used as a precursor in the production of phthalic anhydride, which is further applied in the synthesis of plasticizers, resins, and polyester fibers. The oil and products of reforming crude oil are the most utilized production methods, albeit the xylene separation through fractional distillation is also common. Among the three items that make up xylene, that is, the m-xylene, the p-xylene, and the o-xylene, the latter holds preference in some industries, notably the ones that are related to making polymers and coatings. It is important in play of its role in solvent capacity when it comes to paints and adhesives, and it is also a raw material for making dyes and perfumes by synthetic means.

O-xylene is a strong solvent and a good alternative to chlorinated solvents. It has chemical stability and less toxicity than most of the existing products. In addition, the applications of this widespread technology cover the development of pesticides, pharmaceuticals, and rubber products. Xylene hence also forms isophthalic acid, the critical material in the manufacture of PET (polyethylene terephthalate) bottles and fibers. It is significant to note that these two chemicals should be produced sustainably to achieve the much-desired slowdown trend. Therefore, o-xylene's versatility and the scope of its use in the modern sector of industry and product development is a strong argument to list o-xylene as a key chemical compound in manufacturing and developing new products.

Report Coverage

Key Benefits for Stakeholders:

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