For the Quarter Ending September 2023
In the third quarter of 2023, Glycol Ether prices experienced fluctuations in the North American region. Initially, producers lowered quotations due to a subdued demand for paint, influenced by sluggish activities in the construction sector. Concurrently, logistical challenges arose with prolonged shipping durations caused by disruptions in US shipping and freight routes, stemming from reduced water levels in the Mississippi and Ohio rivers and delayed shipping activities through the Panama Canal. Midway through the quarter, tight supply rates persisted as upstream Ethylene supplies dwindled, linked to a global decline in Crude oil inventories. Consequently, regional market prices showed an upward trend. The Federal Reserve Bank’s decision to raise bank interest rates to counter rising inflation led to decreased buyer demand, contributing to a slowdown in the region’s economic growth. Offtakes from the Pharma sector remained moderate. The occurrence of Hurricane Idalia on August 30, 2023, further impeded supply rates, causing prices to rise again toward the quarter’s end.
In the Asian region, Glycol Ether prices underwent shifts in the third quarter of 2023. Initially, prices decreased due to available stocks and reduced demand from cleaning agents and daily care product manufacturers. Concurrently, lower energy costs contributed to a decline in variable production costs. Midway through the quarter, prices saw a marginal increase as demand picked up from cleaning agents and paint manufacturers, coupled with disruptions in the supply chain. Regional storms and typhoons such as Doksuri, Saola, and Khanun, along with heavy rainfall, extended logistics durations, leading to inadequate supply rates. Weak availability of upstream Ethylene and Propylene supplies, coupled with OPEC+ and Russia’s production cuts in Crude oil, resulted in moderate product supply rates. Prices rose slightly toward the quarter’s end as buyers engaged in firm procurement activities before regional festivals and holidays.
Get Real Time Prices of Glycol Ether: https://www.chemanalyst.com/Pricing-data/glycol-ether-49
Similar to the Asian region, Glycol Ether prices underwent changes in Europe during the third quarter of 2023. At the quarter’s start, prices declined due to surplus stock availability, driven by slow consumption rates from paint manufacturers amid moderate construction sector activities. Elevated energy prices and European banks’ interest rate hikes led to decreased buyer demand, causing a slowdown in Eurozone growth. Consequently, consumption rates remained moderately low during summer holidays in the region, with stable orders from the Pharma sector. Mid-quarter, prices saw a marginal increase amid limited supply rates in the market. Crude oil production cuts by OPEC+ and Russia impacted feedstock availability, stressing production rates. Glycol Ether prices remained firm in the final month of Q3. The European Central Bank’s decision to raise interest rates contributed to declined demand from buyers toward the quarter’s end.
ChemAnalyst is an online platform offering a comprehensive range of market analysis and pricing services, as well as up-to-date news and deals from the chemical and petrochemical industry, globally.
Being awarded ‘The Product Innovator of the Year, 2023’, ChemAnalyst is an indispensable tool for navigating the risks of today’s ever-changing chemicals market.
The platform helps companies strategize and formulate their chemical procurement by tracking real time prices of more than 400 chemicals in more than 25 countries.
ChemAnalyst also provides market analysis for more than 1000 chemical commodities covering multifaceted parameters including Production, Demand, Supply, Plant Operating Rate, Imports, Exports, and much more. The users will not only be able to analyse historical data but will also get to inspect detailed forecasts for upto 10 years. With access to local field teams, the company provides high-quality, reliable market analysis data for more than 40 countries.
GmbH – S-01, 2.floor, Subbelrather Straße,
15a Cologne, 50823, Germany