2-Ethylhexanol Price Movement Switch in India
- 24-May-2022 2:51 PM
- Journalist: Jai Sen
Previously, the price movement of 2-Ethylhexanol seen sloping downward in India for the past two months, and the demand for materials was stagnant in the downstream industries. But last week, the trend changed, and the prices are observed to be inclining upward in the Indian market. The price of 2- Ethylhexanol rose by almost 2% from the previous week’s values, with an ascension of INR 5900/MT in the numbers as per Chemanalyst data. The values climbed primarily due to the escalated feed Propylene prices in the domestic market, which boosted the production cost of 2-Ethylhexanol.
At the end of March, after the announcement of the US strategic oil reserves, upstream propylene prices were decreasing continuously, causing a decrement in the manufacturing cost of 2- Ethylhexanol and its overall market prices. However, the present inflationary pressure on Crude oil boosted the upstream values owing to the war between Russia and Ukraine. It also increased fuel prices, increasing the cost of material transportation.
The demand for oxo alcohols is consistently increasing in the market, and the demand for 2- Ethylhexanol rose from the beginning of the 2nd quarter of the year. Construction activity increased demand for materials in the plasticizer and paint industries. Consistent demand for plasticizer products in the automotive sector is raising the overall demand for materials in downstream manufacturing industries. The values of downstream phthalate, i.e., Dioctyl Phthalate or DOP values manufactured using 2- Ethylhexanol, increased in the domestic market.
Chemanalyst experts say, "The price trend of 2-Ethylhexanol is likely to escalate in the upward direction in the coming weeks due to the increasing feed Propylene prices caused by inflation in Crude oil values along with rising fuel prices. The demand for 2- Ethylhexanol materials will likely increase in the downstream plasticizer and paint industries in the 2nd quarter of this year.”