In October 2025, prices for the C9 and C10 solvent witnessed a bearish trend across the key global markets. This is mainly influenced by the significant supply-demand imbalances, seasonal shift across market and the insufficient cost support from the upstream. During the month, C9 and C10 prices remained weak in the Asian-Pacific, European and MEA regions. Early-month bearish crude supported lower production costs, due to global geopolitical tensions and US–China trade uncertainties maintained cautious market sentiment ahead of OPEC+’s December output guidance. EIA reported WTI price reached USD 58.30 per barrel on October 17, 2025, from USD 61.65 per barrel on October 3. Though the upstream crude oil prices recovered in the late month.
In the European market, prices for the C9 solvent remained bearish with Germany prices declining by 5.8% FOB Hamburg, reflecting high domestic availability and limited demand. Limited cost support from the upstream, competitive importing pricing from the overseas market weighs on the C9 solvent prices. This was further extended due to the interplay of the downstream industries. Though the data revealed the improvement in the monthly automotive sales, supporting the C9 solvent consumption while the construction sector contracted sharply, limiting solvent demand in coatings for residential and infrastructure applications.
Asian Pacific market witnessed a significant decline during the month. In South Korea’s C9 solvent market saw prices decline by 3.78% FOB Busan, and the prices for the C10 solvent remained steady and witnessed a marginal declination of 0.5% only, reflecting weak domestic demand and ample inventory. Reduced consumption in the downstream paints and coatings, coupled with low export demand, weighed on market sentiment.
End-use automotive demand declined sharply, with new vehicle sales dropping 17.7% to 102,364 units, lowering requirements for the additives, and solvent-based components. Similarly, the housing sector was constrained, with government-imposed mortgage caps and tighter lending rules dampening speculative and premium residential purchases, limiting C9 solvent-based application in paints and coating industries. Export demand also softened, with petrochemical shipments falling 22% YoY to $31 billion due to partial plant shutdowns and oversupply in global markets, reflecting the weakness of the Petro-products in export markets including C9 and C10 solvents. Additionally, Asian port logistics remained constrained, key ports faced persistent congestion and delay, influencing the supply chain and helped to accumulate the inventory in the domestic market.
In Singapore, C9 solvent price declined by 2.98% and C10 solvent price declined by 1% m-o-m basis, FOB Jurong.
In the MEA market, C9 and C10 solvent prices mirrored the same trend observed in the remaining regions. GCC port operations faced persistent disruptions, maintaining supply-side pressure. Downstream paints & coatings and industrial solvent consumption remained steady, supported by robust automotive activity and a strong construction sector. Dubai’s real estate market surged, sustaining coatings and solvent demand for residential and commercial projects. High inventories and cautious buying limited significant price movement, keeping the market under mild downward pressure.
