Hexene Prices In Saudi Arabia
- Saudi Arabia: $1661 /MT
In December 2023, the price of hexene in Saudi Arabia rose to $1,661 per metric ton during the fourth quarter.
The latest report by IMARC, titled "Hexene Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data," delivers a comprehensive analysis of Hexene prices on a global and regional scale, highlighting the pivotal factors contributing to price changes. This detailed examination includes spot price evaluations at key ports and an analysis of pricing structures, such as Ex Works, FOB, and CIF, across North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Hexene Prices December 2023:
- Saudi Arabia: $1661 /MT
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The study delves into the factors affecting Hexene price variations, including alterations in the cost of raw materials, the balance of supply and demand, geopolitical influences, and sector-specific developments.
The report also incorporates the most recent updates from the market, equipping stakeholders with the latest information on market fluctuations, regulatory modifications, and technological progress. It serves as an exhaustive resource for stakeholders, enhancing strategic planning and forecast capabilities.
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Hexene Price Trend- Q4 2023
The hexene market is primarily driven by several factors across different regions, particularly in North America, Asia Pacific, and Europe. In North America, the hexene market is driven by increased demand from various downstream industries. The region's growing petrochemical sector, coupled with advancements in polymer production technologies, is propelling the demand for hexene, particularly in applications such as polyethylene production. Additionally, North America's focus on sustainability and the shift toward eco-friendly materials further augments the demand for hexene-based products, driving market expansion. Moreover, the Asia Pacific market is experiencing significant growth driven by rapid industrialization, urbanization, and infrastructure development. Emerging economies such as China and India are witnessing a surge in construction activities, automotive production, and packaging industries, all of which rely heavily on hexene-based products. Furthermore, Europe's hexene market is influenced by stringent environmental regulations, evolving consumer preferences, and technological advancements in the manufacturing sector. While demand remains steady, market growth is moderated by factors such as market saturation in certain industries and the transition towards sustainable alternatives. Overall, the hexene market in these regions is driven by a combination of industrial demand, consumer behavior, and regulatory dynamics, shaping its growth trajectory in the coming years.
Hexene Market Analysis
The global hexene market size reached 2027.7 thousand tonnes in 2023. By 2032, IMARC Group expects the market to reach 3640.9 thousand tonnes, at a projected CAGR of 6.70% during 2023-2032. In North America, hexene prices experienced a trend during the last quarter of FY2023. This downward movement was influenced by severa0l factors, including the bearish sentiment in feedstock ethylene and energy prices, which were impacted by robust crude oil and gas production in the United States. Oversupply sentiments prevailed in the domestic market, contributing to the downward pressure on hexene prices. Additionally, weak demand from downstream Polyethylene (PE) grades was observed due to subdued consumption triggered by rising interest rates set by the US Federal Reserve, resulting in high inventory levels across the PE product value chain. Furthermore, the demand for hexene was further dampened by late winter conditions and concerns about inflation, prompting major suppliers to reduce their inventory stocks despite resilient retail consumption.
Besides this, the Asia Pacific region is experiencing a bearish trend in the fourth quarter of FY2023, with a notable 8% decline by December 29, 2023. Although feedstock ethylene prices showed mixed signals, stabilizing in October and November before decreasing in December, the demand for downstream polyethylene, including hexene/ethylene copolymers, remained subdued in China. This was attributed to lower demand sentiment in construction and conventional passenger vehicle sectors, influenced by higher fuel prices in the APAC region. Despite this, China continued to expand hexene production, notably with PetroChina's 500,000 tons/year plant contributing to global output.
Consequently, Europe hexene prices also exhibited a bearish sentiment in the fourth quarter of FY2023. Negative feedstock pressures persisted, driven by overproduction in the US and China, which contributed to ample hexene supply. Additionally, oligomers operated by companies such as INEOS and LyondellBasell ran at lower capacities due to sluggish demand for hexene/ethylene copolymers, particularly in sectors such as automobiles and construction. The European construction market experienced a contraction, reflected in indices such as the HCOB Germany construction PMI, as major Eurozone countries reduced subsidies for energy-efficient construction. Moreover, the Suez Canal crisis and logistical challenges further tightened supply chains, impacting hexene demand and pricing. With reduced subsidies for energy-efficient transitions and mild winter temperatures until December, the subdued demand for hexene in Europe was anticipated to persist into the first half of FY24.
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Key Points Covered in the Hexene Pricing Report:
The report delivers the following key findings, alongside a comprehensive breakdown of prices by region:
- Hexene Price Chart
- Hexene Price Trend
- Hexene Demand & Supply
- Hexene Market Analysis
- Demand Supply Analysis by Type
- Demand Supply Analysis by Application
- Demand Supply Analysis of Raw Materials
- Hexene Price Analysis
- Hexene Industry Drivers, Restraints, and Opportunities
- Hexene News and Recent developments
- Global Event Analysis
- List of Key Players
Regional Price Analysis:
- Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand
- Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece
- North America: United States and Canada
- Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru
- Middle East & Africa: Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco
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Note: The current country list is selective, detailed insights into additional countries can be obtained for clients upon request.
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