Raffinate Price Trend

Raffinate Prices December 2023

The raffinate prices in the USA for Q4 2023 reached 693 USD/MT in December. The market experienced declining prices due to oversupply and weak demand. Steady plant operations led to increased inventories, saturating the market. Additionally, weak requirements from end-user sectors and falling crude oil prices further pressured prices. Despite these challenges, no major plant shutdowns were reported during the quarter.

The price trend for raffinate in China for Q4 2023 reached 760 USD/MT in December. The market stayed stable, with moderate demand and steady supply from factories working at full capacity. High inventory levels in the region and moderate consumption across sectors such as MTBE and MEK prevented significant cost hikes. Despite frequent variations in crude oil rates, China’s Raffinate market ended the quarter with only slight changes in pricing.

Raffinate Price Trend, Market Analysis, and News

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

The report examines the elements influencing raffinate 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.

Raffinate Market Analysis

The global raffinate market size reached 3124.8 Thousand Tonnes in 2023. By 2032, IMARC Group expects the market to reach 4509.5 Thousand Tonnes, at a projected CAGR of 4.20% during 2023-2032.

• The rising demand for petrochemicals drives the production of raffinate as a byproduct. This is creating a positive outlook for market expansion, as raffinate is used as a secondary raw material or as fuel in manufacturing plastics, synthetic rubbers, and other derivatives.
• Additionally, ongoing improvements in solvent extraction technologies enable more efficient separations of desired chemicals from mixtures, leading to higher yields of primary products, which is further contributing to the market growth.
• Stricter environmental regulations requiring industries to minimize waste by maximizing resource utilization via processing waste products for further use is impelling the market growth as raffinate is obtained as a byproduct of petrochemicals.
• Moreover, industries are consistently striving to minimize production expenses by repurposing raffinate in diverse applications like feedstock or fuel, thereby presenting lucrative opportunities for market expansion.
• The growth of the rubber industry, particularly synthetic rubber production, wherein raffinate is used as a feedstock in creating less critical rubber compounds used in various products is acting as another significant growth-inducing factor.
• With the rise in demand for plastics, especially in packaging and non-critical applications, there is an increasing use of raffinate in producing lower-grade plastics, which is creating a positive outlook for market expansion.
• Besides this, raffinate is increasingly employed in the production of biofuels. As the demand for sustainable energy sources grows, the use of raffinate as a feedstock in biofuel production becomes more viable and economically attractive, thus strengthening the market growth.
• As global production of polymers and resins expands, so does the production of raffinate, which is reintegrated into less sensitive manufacturing processes, thereby optimizing the use of materials across the chemical industry.
• Furthermore, the global shift towards a circular economy encouraging the reuse of materials, including raffinate to support sustainability is influencing the market growth.
• Apart from this, changes in global energy preferences, such as a move away from coal to cleaner alternatives, have spurred the use of raffinate as a low-cost input for energy production, especially in energy-intensive industries, thereby propelling the market forward.

Raffinate News

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

Latest developments in the raffinate industry:

• In July 2018, Rompetrol Rafinare and OMV Petrom revealed their plans to expand investments in the petrochemical sector. This decision reflects their commitment to further developing refining and distribution activities. Such strategic investments can bolster their competitiveness and ensure sustained growth within the downstream segment.

Product Description

Raffinate is a by-product resulting from the chemical extraction process where a desired component is removed from a mixture using a solvent. It is employed in industries, such as petrochemical refining and processing. The specific composition of raffinate varies widely based on the original mixture and the extraction technique employed.

It is often processed to extract any remaining valuable elements or utilized in applications where high purity is not essential, thereby minimizing waste and enhancing overall process efficiency. Alongside, raffinate may be used as fuel in industrial processes or as a feedstock in the production of less sensitive chemicals, where the efficiency of the process heavily depends on the purity of the materials.

Regional Coverage

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

Global Raffinate Price

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

The report also delves into raffinate 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 raffinate 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 Raffinate Price

Europe's market experienced a dynamic mix of influences resulting in varied price movements. Early in the quarter, low requirements from sectors such as MTBE and sufficient inventories caused downward price pressure. Market instability set in mid-quarter due to geopolitical factors and interim supply concerns, leading to a temporary rise in price. By quarter's end, a surge in fuel consumption demand, along with increased transportation and energy rates, pushed prices upwards. Western and Central Europe experienced hiked product costs owing to stronger demand and elevated transport costs, while Eastern Europe benefited from lower transport expenses and proximity to production hubs, reflecting regional disparities.

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

North America Raffinate Price

In the North American raffinate market during Q4 2023, pricing trends were shaped by several factors. Market saturation became evident owing to constant plant operations, leading to increased inventories and reduced prices. Additionally, consumption remained subdued, reflecting a decline in the manufacturing industry, as indicated by economic indicators. Moreover, local demand from end-user sectors like MTBE and MEK persisted. Despite a stable supply and no significant factory closures, falling crude oil prices contributed to further price declines. While prices dropped compared to the last quarter, they showed a noticeable increase in comparison to the last year, illustrating the fluctuating market conditions induced by weak demand and lower energy prices.

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

Middle East and Africa Raffinate Price

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

Asia Pacific Raffinate Price

In the Asia-Pacific region in Q4 2023, the market saw various influences shaping its trajectory. High stocks created a challenging market environment in the region, keeping growth prospects under pressure. Limited need from downstream sectors, particularly MTBE and MEK, further compounded the issue. Despite stable supply conditions, price fluctuations in crude oil contributed to general market volatility. China, a major player, remained relatively constant with moderate requirements from key sectors. Although the market in China witnessed a minor fall in prices towards the end of the quarter, it largely maintained equilibrium. Subdued demand from international markets contrasted with steady requirements from Singapore, contributing to a mixed regional market performance.

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

Latin America Raffinate Price

The analysis of raffinate 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 raffinate 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 raffinate 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 raffinate price charts ensure our clients remain at the forefront of the industry.