2-Ethylhexanol Prices Trend | Pricing | Database | Index | News | Chart

North America

In the first quarter of 2024, the North American 2-Ethylhexanol (2-EH) market exhibited a bullish trend, with prices increasing by approximately 30%. This surge was driven by cost-side support, as major oxo-alcohol producers like Eastman Chemicals and OQ Chemicals implemented multiple price hikes throughout the quarter. 

Improved weather conditions from mid-February boosted the downstream construction and automotive sectors, supporting 2-EH prices. Following the Arctic Blast in January, the US construction sector showed significant improvement. Automotive sales in the US also soared, increasing by 31%, which fueled demand from the downstream plasticizer industry. The construction sector's growth, driven by upturns in residential construction, commercial building, and civil engineering activities, further bolstered the market.

As the home-buying season approached, existing inventories of 2-EH faced increasing pressure. Stable mortgage rates contributed to a positive outlook among prospective homebuyers, adding further strain on the downstream plasticizer sector. Midway through the quarter, supply conditions became uncertain when OQ Chemicals declared a force majeure at its Oberhausen site in Germany, threatening 2-EH supply dynamics. Additionally, operational disruptions at several plants in Texas, including LyondellBasell in Corpus Christi, Shell Chemical in Deer Park, Dow Chemical in Freeport, and Enterprise Product in Mount Belvieu, led to a shortage in feedstock Propylene (Refinery Grade), subsequently increasing 2-EH prices.

Get Real Time Prices for 2-Ethylhexanol (2-EH): https://www.chemanalyst.com/Pricing-data/2-ethyl-hexanol-2-eh-8

Asia

The Asian 2-EH market faced a bearish situation throughout the first quarter of 2024, primarily due to reduced demand from the downstream plasticizer industry. This decline was largely attributed to the underperformance of the Chinese construction sector, where investment sentiments remained low. The end of the peak festive season, the Chinese Lunar New Year, led to destocking activities that increased product supply, compelling prices to fall. Challenging weather conditions in Shandong further slowed product circulation.

Price hikes initiated by major oxo-alcohol producers like OQ Chemicals and Eastman Chemicals had no significant effect on Asian prices. Low demand from the crisis-stricken Chinese construction industry, where many projects were postponed or halted, prompted a 20% price drop by the end of the quarter. Midway through the quarter, supply conditions were uncertain as OQ Chemicals declared a force majeure at its Oberhausen site, impacting 2-EH supply dynamics.

Europe

In the first quarter of 2024, European 2-EH prices inflated by over 50%. This increase was largely due to the ongoing crisis in the Red Sea, which led to a shortage of feedstock Propylene. Plant shutdowns in Europe and the USA, from where Europe imports Propylene, exacerbated this shortage. On February 27, 2024, OQ Chemicals declared a force majeure at their Oberhausen site in Germany, further restricting 2-EH supply.

Feedstock Propylene prices increased by approximately 35%, driving up production costs. However, demand from the European 2-EH market remained weak, particularly in the construction sector. All segments of the construction industry—housebuilding, commercial construction, and civil engineering—experienced significant contractions. The housebuilding segment, in particular, dragged down the sector as house prices and permits continued to decline. The only support for 2-EH demand came from the secondary automotive sector, which saw substantial improvements towards the end of the quarter.

Get Real Time Prices for 2-Ethylhexanol (2-EH): https://www.chemanalyst.com/Pricing-data/2-ethyl-hexanol-2-eh-8

Contact Us:

ChemAnalyst

GmbH - S-01, 2.floor, Subbelrather Straße,

15a Cologne, 50823, Germany

Call: +49-221-6505-8833

Email: sales@chemanalyst.com

Website: https://www.chemanalyst.com