Petroleum Resins Prices In China
- China: 1360 USD/MT
In China, the price of petroleum resins has been rising recently despite the prevailing economic slowdown and the corresponding increase in demand.
The latest report by IMARC Group, titled “Petroleum Resins Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” provides a thorough examination of the Prices. This report delves into the price of Petroleum Resins globally, presenting a detailed analysis, along with informative Petroleum Resins Price Chart. Through comprehensive Price analysis, the report sheds light on the key factors influencing these trend. Additionally, it includes historical data to offer context and depth to the current pricing landscape. The report also explores the Demand, analyzing how it impacts Industry dynamics. To aid in strategic planning, the price forecast section provides insights into price forecast, making this report an invaluable resource for industry stakeholders.
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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 Industry, equipping stakeholders with the latest information on Industry 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 their extensive use in adhesives, coatings, and sealants, especially in the construction and automotive industries. The rising demand for high-performance materials that enhance product durability and performance fuels market growth. Additionally, the packaging industry’s expansion, requiring strong adhesive properties, contributes significantly. The growing emphasis on infrastructure development and renovation projects worldwide has augmented product demand.
Besides this, ongoing technological advancements in production processes and the increasing adoption of petroleum resins in tire manufacturing and road marking paints further propel the market. Furthermore, the shift toward sustainable and eco-friendly resin variants supports continued market expansion.
Petroleum Resins Industry Analysis
The North American petroleum resin market saw a complicated interaction of factors affecting pricing trends in the first quarter of 2024. Primarily, costs were noticeably higher, mostly due to expensive imports from China, where local prices had skyrocketed. The US was particularly affected due to its heavy reliance on imports.
Geopolitical conflicts, particularly the Red Sea crises, which disrupted shipping routes and increased freight costs, made supply limitations worse. The APAC petroleum resin market witnessed a combination of stability and volatility in Q1 2024. In general, market prices showed only slight variations that were impacted by a few variables. Prices for petroleum resin witnessed notable fluctuations from the previous quarter in China, the country with the largest petroleum resin market.
Seasonal variations and unfavorable weather conditions drove down demand from the construction sector, which dominated the Chinese market. The price of petroleum resin showed erratic tendencies in the first quarter of 2024, beginning the year on the upward in January and February.
The Red Sea crisis-related supply worries and growing costs for crude oil feedstock were the main causes of these price increases. The protracted crisis caused supply chain disruptions, which resulted in a delay in import arrivals and a shortage of raw materials. The European market saw an increase in Petroleum Resin prices due to a shortage and strong demand from Asia and the United States.
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
Note: The current country list is selective, detailed insights into additional countries can be obtained for clients upon request.
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