In November 2025, prices for US 2-ethylhexyl nitrate (2EHN) declined because of low freight activity, weak industrial demand, and reduced domestic production, thereby increasing the need to import cheaper European products that were being sold based on the weakened euro. Low volumes of shipments as well as soft demand for items such as manufacturing and housing contributed to lower usage of 2EHN. Energy price trends and a downturn in automobile sales also contributed to lower levels of demand for this chemical. There are positive signs for December, as tight inventory levels are expected to increase demand for 2EHN and diesel, increased imports are expected, and La Niña related issues caused by increased costs associated with trucking will further contribute to the price increases. Strong early holiday sales can likely boost demand for diesel fuel, thus creating higher demand for 2EHN. Expect December's prices to be higher making a more favourable end to 2025.
The US market for 2-ethylhexyl nitrate (2EHN) experienced a noticeable drop in prices in the month of November 2025. This happened because of the low freight traffic, low industrial demand, and stable but not enough domestic production. According to market sources, Gulf Coast facilities continued to have a trouble-free operation; in other words, they supplied the domestic demand in the US only in part. Consequently, the domestic market continued to rely primarily on imported product from Europe, where a low value of the euro led to a decrease in FOB prices. Such a low import cost directly impacted the reduction in the US 2EHN price.
Freight market conditions also impacted the pricing trends in November. The number of shipments decreased in November, with the multimodal shipments index declining on a year-over-year basis. Despite an increase in freight prices, freight expenditures touched levels like those in the previous year. However, lower shipment volume was a manifestation of weaker manufacturing and housing markets, which are two critical end-users for diesel additive 2EHN. Along with a decrease in truckload volume from the pre-tariff build-up in Q3, lower fuel additive sales impacted 2EHN prices, keeping them on a downward trajectory.
Energy markets contributed additional pressure in the 2EHN market. Motor gasoline prices edged lower from October levels, although diesel prices, although higher from last year, were not high enough to encourage the use of performance additives. However, US automotive sales continued being slow, registering lower sales for November compared with last year. Slowing automotive sales, combined with declining market share for BEVs, indicated that the transportation market was cooling down, thus limiting the use of performance additives such as 2EHN.
The overall 2EHN market sentiment for the month of December 2025 seems to be quite bullish. With the month ending, analysts are observing that inventory levels in the additive industry are becoming quite tight. There have been inconsistent levels of imported inventory and La Niña-related spot trucking capacity issues causing freight costs to rise. This has in turn hindered inventory rebuilds. This has led to some distributors holding lower-than-anticipated inventory in the 2EHN market.
On the flip side, the early holiday expenditure has turned out to be stronger than expected, indicating a possible revival in freight activity. This will likely lead to an increase in the consumption of diesel and subsequently boost the requirement for cetane improvers such as 2EHN. Hence, the December pricing is likely to advance from the current levels.
As per ChemAnalyst, industry sources warn that the magnitude of the jump in December will depend on the prevailing weather, transportation capacity, and the level of end-of-the-year industrial activity. But it is expected that after a relatively soft November, the US market for 2EHN is geared for a strong close to the year 2025.
