ChemAnalyst data shows intensifying market dynamics of 2-Ethylhexanoic Acid in future

ChemAnalyst data shows intensifying market dynamics of 2-Ethylhexanoic Acid in future

  • 26-Apr-2022 5:39 PM
  • Journalist: Gabreilla Figueroa

2-Ethylhexanoic acid has been on an uptrend for a long time across the global market under the influence of high crude oil value amidst supply disruptions. As per the ChemAnalyst data, a significant hike in the price of 2-EHA has been observed across Asia, Europe, and North America during the February-March timeframe. Furthermore, market fundamentals for the product remained firm, as seasonal offtakes improved effectively in the meantime.

As per the ChemAnalyst data, a hike of around 3.3%, 5.7%, 6%, 1%, and 3.6% was observed for Japan, Germany, USA, India and China during the February-March timeframe. These increments were primarily influenced by a rise in raw material cost amidst stable offtakes from their respective market. Furthermore, the Russia-Ukraine conflict has been a major factor affecting global market dynamics since the last week of February, which has made the global market anxious about future trade activities and their profit margins. Additionally, the pace of price increase has changed entering April, as there were numerous other factors affecting regional pricing dynamics for 2-Ethylhexanoic acid. ChemAnalyst reported earlier about maintenance turnaround by key 2-EHA manufacturers in Asia, which induced the threat of scarcity across regional markets. While depreciating currency against the dollar also affected trading activities in key economies like Japan and India.

As a consequent effect, the pace of price increase has changed entering April, owing to change in the market dynamics and rising scarcity of the product across major markets. As per the ChemAnalyst data, Japan has witnessed a huge spike of around 13%, followed by 1% - 4% in China, the USA and Germany during the first half of the month. These price hike has been supported by prolonged firmness in the crude oil value coupled with rising demand fundamentals under the influence of seasonal offtakes in summer.

As per the ChemAnalyst analysis, prices are expected to remain buoyant in forthcoming months across the global market, as the current market scenario is not going to change anytime soon. Furthermore, the Russia-Ukraine conflict is also not showing any sign of resolution, which will keep on affecting global pricing dynamics for a couple of months further.

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