Raffinate Price Trend

Raffinate Prices December 2023

The price of raffinate in the United States for Q4 2023 reached 693 USD/MT in December. The market in the United States experienced an increase compared to the same quarter in the previous year. In addition to this, the prices of raffinate in the USA decreased slightly compared to the previous quarter, driven by declining crude oil prices and weak demand from the downstream industries.

The price trend for raffinate in China witnesses significant changes, with a relatively stable market situation. However, the demand from downstream industries like MTBE and MEK was moderate, contributing to the overall stability of the market. The prices of raffinate in China experienced a slight decrease in the second half of the quarter compared to the first half. Besides this, fluctuations in the prices in China remained relatively steady throughout the quarter, concluding at 760 USD/MT.

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 further 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 Raffinate 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 current price of raffinate 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 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

The European region has experienced a highly dynamic and contrasting performance with significant price variations. The quarter began with a downward trend influenced by weak demand in key downstream industries like MTBE production, ample inventory reserves, and fluctuating naphtha prices. Concurrently, in the mid-quarter, the market experienced volatility due to regional variations, geopolitical uncertainties in Eastern Europe, and short-term supply disruptions causing temporary price spikes.

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

North America Raffinate Price

In North America, the raffinate market has witnessed a moderate supply due to the steady operating capacity of plants and higher inventories. This led to a saturated market with excess stock, resulting in discounted prices. Alongside, the demand for raffinate was low to moderate, with the purchasing managers' index (PMI) indicating contraction in the manufacturing sector. However, there was robust domestic demand from downstream industries such as MTBE and MEK.

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

The raffinate pricing in the Asia Pacific region experienced high inventories in the market and reduced demand from downstream industries such as MTBE and MEK. Furthermore, the prices of feedstock crude oil experienced fluctuations, with a general trend of increase throughout the quarter. In addition to this, the rise in crude oil prices led to an increase in the upstream raffinate prices. Apart from this, the demand from international markets remained suppressed, except for stable demand from Singapore.

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.