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For the Quarter Ending September 2023
North America
In the North American region, there was a bearish movement in Pentaerythritol prices, with a nearly 19% decline during Q3 2023. Initially, downstream ink manufacturers and food-thickening agent producers experienced sluggish offtakes and demand due to low consumption rates from end-user consumers amid rising inflation. The Federal Reserve Bank's decision to raise bank interest rates to curb inflation negatively impacted upstream import costs and product demand, contributing to a slowdown in the economic growth of the US region. Additionally, US shipping and freight routes were affected during the mid-quarter due to declining water levels in the Mississippi and Ohio rivers, leading to supply disruptions. Towards the end of Q3, Mono Pentaerythritol faced declining offtakes from surfactants manufacturers, and demand from herbicides and insecticides manufacturers remained low, resulting in increased inventory levels. Ultimately, by the end of Q3 2023, Pentaerythritol prices in the USA dropped to USD 2300/MT.
Asia
Similar to North America, Asia experienced a bearish trend in Pentaerythritol prices, witnessing a 7% drop during the quarter. At the beginning of the quarter, there was moderate demand from buyers due to a rise in food inflation, leading to reduced orders for thickening agents in the food sector. Mid-quarter, production rates were affected by a shortage of upstream Acetic Acid, and supply remained low due to storms and typhoons like Doksuri and Saola, along with heavy rainfall. Weak activities in the construction sector led to a decreased demand for Di Pentaerythritol from plasticizer and PU coating manufacturers, who also lowered their quotations. Towards the quarter's end, offtakes remained weak from insecticides manufacturers, and buyers reduced orders ahead of the Golden Week holidays in China. By the end of Q3 2023, Pentaerythritol prices in China stood at USD 1270/MT.
Get Real Time Prices of Pentaerythritol (PENT): https://www.chemanalyst.com/Pricing-data/pentaerythritol-1147
Europe
In Europe, Pentaerythritol prices remained steady but decreased by almost 27% during Q3 2023. Low offtakes resulted from sluggish manufacturing and purchasing activities during the summer holidays. High energy prices and an increase in bank interest rates in the Eurozone contributed to a decline in demand, causing a slowdown in Eurozone growth. The Eurozone manufacturing Purchasing Manager’s Index gradually dropped, indicating contractions in manufacturing sector activities. Towards the end of the quarter, production costs fell due to a decline in feedstock Formaldehyde prices, and offtakes remained low, raising inventory levels. By the end of Q3, Pentaerythritol prices in Germany and Belgium were at USD 1750/MT and USD 1800/MT, respectively.
Middle East
In the Middle East, Pentaerythritol prices witnessed a significant 23% plunge during Q3 2023. Initially, demand was moderately low from Asian importers due to a rise in food inflation, impacting orders for thickening agents. Sluggish activities in the agriculture sector negatively affected insecticide consumption, leading to increased inventory levels, and producers reduced production rates. Mid-quarter, supply rates were moderate, but orders remained low from importers. Towards the end of the quarter, consumption rates for Di Pentaerythritol decreased in downstream Polyether and Polyurethane film industries, and offtakes remained low from insecticide manufacturers. By the end of Q3, Pentaerythritol prices in Saudi Arabia were at USD 1350/MT.
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According to the latest report by IMARC Group, titled “Pentaerythritol Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global pentaerythritol market size exhibited moderate growth during 2015-2020.
It is an organic, odorless, white, crystalline, water-soluble compound.
It exhibits physical properties such as high flash point, resistance to ignition, high thermal stability and low volatility.
Moreover, it has a synergistic effect with zinc salt stabilizers, which are being used to replace allyl chloride to stabilize PVC.Get a sample copy of this Report: https://www.imarcgroup.com/pentaerythritol-market/requestsampleWe are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries.
These observations will be integrated into the report.Global Pentaerythritol Market Trends:Pentaerythritol is used as a varnish, paint, drying oil and aviation lubricating oil.
As a result, pentaerythritol is used for producing resins, coatings, synthetic lubricants and rosin esters.
