Petroleum Resins Prices In China
- China: 1360 USD/MT
In China, the price for petroleum resins has been rising in the recent period despite the prevalence of economic slowness and the correlated increasing demand.
The latest report by IMARC, titled " Petroleum Resins Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data “delivers a comprehensive analysis of Petroleum Resins 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.
Petroleum Resins Prices December 2023:
- China: 1360 USD/MT
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The study delves into the factors affecting Petroleum Resins 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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Petroleum Resins Price Trend- Q4 2023
The petroleum resins market is driven by diverse applications across multiple industries, including adhesives, paints, printing inks, and rubber compounding. The primary factor behind this surge is the increasing demand for adhesives and sealants in the construction and automotive sectors where petroleum resins are favored for their superior adhesive properties, thermal stability, and chemical resistance. The rapid urbanization and industrialization in emerging economies are escalating the construction of residential and commercial buildings, subsequently boosting the demand for adhesives and coatings that incorporate petroleum resins. Additionally, the automotive industry utilizes these resins in tire manufacturing and various bonding applications, contributing further to their market growth. The versatility and effectiveness of petroleum resins in enhancing product performance in terms of durability and strength also make them indispensable in various manufacturing processes, driving their demand in a wide array of applications.
Petroleum Resins Market Analysis
The global Petroleum Resins market size reached US$ 4.3 Billion in 2023. By 2032, IMARC Group expects the market to reach US$ 6.2 Billion, at a projected CAGR of 3.90% during 2023-2032.In the last quarter, petroleum resin prices have been significantly influenced by fluctuations in raw material costs and supply chain disruptions. Throughout the fourth quarter of 2023, the US market witnessed a bullish trend, particularly evident in the initial two months with consecutive increases of 2.5% and 1.2% in petroleum resin prices. This upward trajectory in product prices was primarily driven by heightened production costs, closely tied to the fluctuating price of the raw material, which increased during this period and elevated the production cost. Besides, Q4 2023 marked a pivotal period for the petroleum resin market in the APAC region, characterized by notable developments and influences on market dynamics. One key factor was the substantial increase in demand from the downstream construction industry, both domestically and internationally, creating a bullish market scenario. Despite the overall economic slowdown in the region, the construction sector demonstrated resilience, contributing to the sustained demand for petroleum resin.
Moreover, in the final quarter of 2023, the European market experienced a bullish trend in the region due to the volatility in feedstock crude oil prices, which increased the production cost of the product in the country and resulted in a market situation. Moreover, that quarter observed a disruption in the supply chain across the region. The supply shortage was intricately linked to the elevated spot prices of refined products on the US West Coast, a trend anticipated ahead of the impending Hurricane Hilary. These factors combined have created a complex pricing environment for petroleum resins in the last quarter, marked by both volatility and a general upward trend in prices.
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Key Points Covered in the Petroleum Resins Pricing Report:
The report delivers the following key findings, alongside a comprehensive breakdown of prices by region:
- Petroleum Resins Price Index
- Petroleum Resins Price Trend
- Petroleum Resins Demand & Supply
- Petroleum Resins Market Analysis
- Demand Supply Analysis by Type
- Demand Supply Analysis by Application
- Demand Supply Analysis of Raw Materials
- Petroleum Resins Price Analysis
- Petroleum Resins Industry Drivers, Restraints, and Opportunities
- Petroleum Resins 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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