In November 2025, Asian prices for N-methyl aniline dipped due to weak energy fundamentals, large inventories, and poor downstream demand within the market. India saw an increase in overall fuel consumption via increases in diesel demand, which contributed to a month-over-month increase, but lower naphtha consumption dampened the overall sentiment for petrochemical products. Due to its dependence on discounted Russian crude oil, Indian refiners have had plenty of crude oil to process, which created additional cost pressure on this commodity. The increase in OPEC+ production and the decrease in LNG imports into China (which dropped by 16%) contributed to a further decline in the overall energy markets within Asia. Likewise, Japan's increase in nuclear and renewable power production has reduced the number of gas-fired generation units required. Overall, N-methyl aniline demand has been weak across all sectors including agrochemicals, textiles and rubber, which reinforces the overall bearish trend in this commodity.
Asian N-methyl Aniline Prices declined for November 2025, bearing the effects of lower energy fundamentals, well-supplied markets, and weaker downstream demand. The N-methyl Aniline, also used for dyes, agrochemicals, and rubber, came under pressure due to the shift in the regional energy markets.
India's fuel demand rose to a six-month high in November, growing 5.5% month-on-month to 21.27 million metric tons, as per the oil ministry. Even though the growth depicted India's continued demand for transport fuels, it also indicated the trend of India pursuing Russian imports at reduced prices. Being the third-largest oil consumer globally, India continued to access Russian supplies at reduced prices, keeping their refineries well-stocked. The easy availability of cheaper feedstock had a pressure impact on the price of N-methyl Aniline.
Overall, the demand for fuel in India grew 3% on a year-on-year basis, with the demand for diesel rising 12.2% on a month-to-month basis to 8.55 million tons. Regarding N-methyl Aniline, given that it is a petrochemical that needs constant supply, this lower demand for naphtha affects the market sentiment.
To add supply-side pressure, the OPEC+ producers stepped up their November crude output, although total supply still fell marginally short of targets. Production increases were led by Saudi Arabia and the UAE, with Kazakhstan once again operating above its assigned quota. This slight rise in global crude availability, combined with India’s pursuit of discounted Russian barrels to meet its fuel demand, further reinforced a cost-effective feedstock environment. As a result, N-methyl Aniline prices remained constrained, with the broader supply situation continuing to exert downward pressure on N-methyl Aniline in the Indian market.
However, the Asian demand for LNG dropped sharply on a year-over-year basis. This was led by China, which reduced its LNG demand sharply following the tensions with the United States, leading it to shift towards indigenous sources of energy, including coal. The demand for LNG by India also fell by 8%, with Thailand and Pakistan recording a double-digit decline. This sent the energy prices lower, reducing the floor for the costs of producers of N-methyl Aniline.
In the Japanese markets, the increase in nuclear and renewable-based generation led to lower demand for gas-fired electricity, and the Southeast Asian markets encountered project cancellations and delays in the development of LNG-to-Power. Overall, these indicators hinted that the energy environment in the Asian markets will soften, reducing the price support that drives the price of N-methyl Aniline.
The demand dynamics for N-methyl Aniline continued to remain cautious. As per ChemAnalyst, the producers of agrochemicals in India and the Southeast Asian markets are expected to operate in line with the usual level of demand, though the textile and dye industry may generate less demand for exports. The rubber processing units in China and Thailand also expected to continue to operate with steady, but unspectacular, intake impacting N-methyl Aniline price trend.
