For the Quarter Ending June 2025
North America
• C10 solvent prices in North America remained largely stable on a quarterly basis in Q2 2025, underpinned by steady downstream demand and offsetting supply-side factors.
• Port logistics trends were mixed, with improved freight movement in April and June, while May experienced renewed West Coast congestion due to labor disputes and increased import volumes from Asia.
• In June, demand improved, supported by better performance in key end-use sectors such as automotive and construction.
• U.S.–China trade negotiations and Canadian production outages continued to shape market sentiment, influencing procurement strategies and regional demand alignment.
Why did the price of C10 solvent change in July 2025 in the US?
• In July 2025, the C10 solvent Price Index in the US trended downward, primarily impacted by weak demand expectations from the automotive sector, as highlighted by projections from the National Automobile Dealers Association (NADA).
• The C10 solvent Production Cost Trend showed limited upward pressure from feedstock and upstream markets, contributing to a softer pricing environment.
• The C10 solvent Price Forecast remains bearish, with rising inventory levels and tepid end-use sector performance likely to suppress any significant price recovery.
Europe
• C10 solvent prices in the European market registered a net quarterly decline in Q2 2025, with Germany recording a 1.17% decrease, closing at USD 1,440/MT FOB Hamburg in June.
• The quarter started with a 2.97% price increase in April, driven by tight supply, tariff-induced uncertainties, and severe logistics disruptions, but May month saw a 2.2% decline due to oversupply and weak demand before rebounding 1.05% in June amid firm automotive and coatings demand.
• Supply remained stable to ample, supported by consistent domestic production and import flows. Feedstock naphtha and crude prices stayed soft, containing production costs throughout the quarter.
• Logistics were strained in April and May due to port congestion, vessel diversions, adverse weather, and labor strikes, though June showed relative stability despite underlying risks from labor shortages and rail closures.
• Downstream demand fluctuated: the coatings and industrial segments showed gradual recovery by June, while automotive sector growth in late Q2 helped support price gains.
Why did the price of C10 solvent change in July 2025 in Europe?
• In July 2025, the C10 Solvent Price Index in Europe remained under pressure due to persistent demand weakness and elevated inventory levels across the region.
• The C10 Solvent Production Cost Trend showed limited support from the feedstock side, as upstream crude oil market weakness curtailed any upward cost momentum.
• The C10 Solvent Price Forecast suggests continued bearish sentiment, with oversupply and sluggish downstream consumption likely to restrain price recovery.
APAC
• C10 solvent prices in the Asian market posted a marginal increase of 0.35% in Q2 2025, with prices in Singapore closing at USD 1,154/MT FOB Jurong in June.
• Q2 started with a 1.23% rise due to firm overseas demand and pre-summer stocking activity, followed by a marginal decline in May amid cautious downstream sentiment and soft feedstock prices. June closed with a 1.23% rebound, driven by constrained supply and stronger retail/export demand.
• Supply conditions remained moderately stable throughout the quarter, though June faced tightening availability due to rising crude prices and geopolitical tensions.
• Logistics were challenged by mounting global port congestion, with Singapore experiencing increasing vessel queues and cargo delays, peaking in June.
• Demand showed steady growth, with June marking a significant rebound due to higher motor vehicle sales, retail growth, and a jump in exports.
Why did the price of C10 solvent change in July 2025 in the APAC?
• In July 2025, the C10 Solvent Price Index in the APAC region remained bearish due to persistent demand weakness, particularly from the coatings and adhesives sector, which was impacted by the onset of the monsoon season.
• The C10 Solvent Inventory Trend showed elevated stock levels across the region, further pressuring prices amid limited buying activity.
• The C10 Solvent Price Forecast indicates continued downward momentum, with seasonal demand slowdown and oversupply expected to weigh on market sentiment.
For the Quarter Ending March 2025
North America
In Q1 2025, the price trend of C10 Solvent in North America reflected a mixed market sentiment, shaped by fluctuating crude oil costs, uneven downstream demand from the paints and coatings sector, and shifting dynamics in the automotive industry.
In January, prices remained largely stable, supported by a slight rise in crude oil prices which increased upstream production costs. However, this was counterbalanced by weak automotive sales, which saw a 25% month-on-month decline, limiting fresh demand for paints and coatings, a key application of C10 Solvent. Additionally, winter storms disrupted logistics, but ample inventory levels prevented supply-side price pressures.
By February, the market turned bullish amid a rebound in automotive production and increased restocking by buyers, supported by fears of impending tariff changes affecting vehicle imports. Rising crude oil prices further contributed to increased solvent manufacturing costs. However, in March, the market corrected with a price decline, as crude prices softened slightly, and end-user demand tapered off due to sufficient inventory levels and cautious procurement.
Europe
The European C10 solvent market witnessed a mixed price trajectory throughout Q1 2025, marked by distinct shifts in supply-demand dynamics and macroeconomic conditions. January opened with a bullish momentum, driven by tight supply stemming from limited inventories and elevated production costs linked to surging naphtha and global crude oil prices. Robust demand from the paints and coatings industry and strong restocking activity—amplified by a rebound in automotive production, particularly in electric vehicles—further supported price gains. However, February witnessed the reversed price trend. The market saw improved supply conditions backed by ample inventory and lower feedstock costs due to a 3.8% drop in crude oil prices. Although domestic manufacturing showed mild improvement, demand faltered amid weak seasonal consumption. Despite growth in the EV segment, muted export demand and widespread port congestion—especially at Hamburg, Rotterdam, and Le Havre—disrupted logistics and limited arbitrage opportunities. March saw a sharp rebound, with prices surging 7.36%, especially in Germany and prices reached to USD 1415/MT FOB Hamburg, driven by tightening inventories, reduced Asian imports, and ongoing operational bottlenecks due to labor strikes across major ports. Meanwhile, modest recovery in downstream demand from the coatings and civil engineering sectors contributed to anticipatory buying. Overall, Q1 closed with a net bullish tone, driven by constrained supply and sector-specific demand resilience amid fluctuating economic indicators.
APAC
In Q1 2025, the C10 solvent market in the Asia-Pacific (APAC) region, exhibited an overall bullish price trend, underpinned by a complex interplay of supply constraints, volatile feedstock costs, and fluctuating downstream demand. In January, prices surged due to tight inventory levels and elevated production costs, driven by a sharp increase in Naphtha prices—up 4.31%, amid rising global crude oil benchmarks. The global crude rally was propelled by renewed sanctions on Russian and Iranian oil exports and severe weather disruptions in North America. Additionally, regional port congestion, heightened by pre-Lunar New Year shipping volumes and adverse weather, further strained supply chains despite steady freight charges. Although demand from paints and coatings remained stable, subdued automotive sales due to the Lunar New Year slowdown in limited consumption growth. In February, in C10 solvent prices trend remained bullish rose by 1% especially in South Korea and reached at USD 1115/MT FOB Busan. Lower naphtha costs spurred production, ensuring supply stability, while robust downstream demand, especially from the automotive sector, supported price resilience. Notably, car sales jumped, fueled by increased operational days and strong performance from both domestic and foreign automakers. Additionally, intensified procurement activity from neighboring Asian markets sustained upward pressure on prices. By March, the market stabilized at elevated levels, as tight inventories and lower import volumes offset softened upstream costs and marginal freight rate declines. Steady demand from the paints and coatings industry, coupled with resilient automotive performance, anchored prices.
For the Quarter Ending December 2024
North America
In Q4 2024, the North American C10 solvent market experienced a mixed price trend, driven by fluctuating global crude oil prices and downstream demand from the paints and coatings industry. Early in the quarter, C10 solvent prices remained stable, supported by consistent demand from the paints and coatings sector, which was buoyed by seasonal factors and increased activity in the construction and automotive industries. Demand from these key sectors contributed to maintaining a balanced supply-demand scenario, keeping prices steady.
The mid-quarters, however, saw a brief uptick in C10 solvent prices due to tighter supply conditions. The volatility in global crude oil prices put upward pressure on production costs, which, combined with logistical disruptions, resulted in price increases across the region. These disruptions included delays in shipping and distribution, further straining the solvent supply chain.
By the end of the quarter, C10 solvent prices began to soften as crude oil prices eased and supply constraints loosened. The paints and coatings sector maintained moderate demand, stabilizing the overall market. This helped bring prices down slightly, marking the end of the quarter with fluctuating price dynamics.
EUROPE
In Q4 2024, the European C10 solvent market experienced a mixed trend due to fluctuating demand and supply-side challenges. Early in the quarter, prices remained steady, supported by consistent demand from downstream sectors such as paints and coatings, particularly in the automotive industry. However, supply was slightly constrained by logistical issues, including shipping delays. By mid-quarter, prices began to decrease, primarily due to a reduction in global crude oil and energy prices, which lowered production costs. Despite this, demand from the paints and coatings sector remained weak, and the automotive industry showed sluggish growth, contributing to the bearish trend. Logistic disruptions, including port congestion and delays in key hubs like Rotterdam and Hamburg, further affected the market. By the end of the quarter, the market continued to soften, driven by ongoing subdued demand in the automotive sector and the broader paint industry. In Germany, C10 solvent prices dropped to USD 1,320/MT FOB Hamburg, reflecting a 2.0% decrease compared to the previous quarter, underscoring the impact of weak demand and logistical challenges.
APAC
In Q4 2024, the APAC region experienced a mixed trend in C10 solvent prices, largely driven by regional supply-demand dynamics and economic factors. Early in the quarter, prices in South Korea remained stable due to ample inventory levels. Subdued demand from key sectors, including paints, coatings, and automotive manufacturing, kept any significant price fluctuations at bay. The decline in crude oil prices exerted downward pressure on C10 solvent prices, contributing to price stability despite rising freight charges and geopolitical tensions. Mid-quarter, the market saw further challenges, with weak domestic demand in South Korea, particularly from the paints and coatings industry and sluggish automotive manufacturing activity. The global decline in crude oil prices helped to lower production costs, resulting in balanced supply and stable inventory levels. By the end of the quarter, C10 solvent prices in South Korea rebounded. This price increase was driven by rising demand from the paint and coatings sector, along with the recovery in automotive sales. The upward trend in crude oil prices also played a role in boosting market sentiment, with prices rising by 2.15% to USD 1092/MT FOB Busan in December 2024.
For the Quarter Ending September 2024
North America
In Q3 2024, the North American market for C10 Solvent experienced a notable decline in prices, primarily driven by limited demand across key end-user industries. The sluggish activity in sectors such as paints, coatings, and adhesives significantly impacted consumption levels. This reduction in demand created a challenging environment for manufacturers, leading to increased competition among suppliers eager to maintain market share.
Compounding the situation was the ample inventory of C10 Solvent available in the market. Many producers had built up stock in anticipation of higher demand, but the expected consumption failed to materialize. As a result, the surplus inventory contributed to downward pressure on prices, as suppliers were compelled to offer more competitive pricing to move excess stock. This oversupply situation further exacerbated the already weak market conditions.
By the end of the quarter, the prevailing sentiment in the North American C10 Solvent market reflected ongoing concerns about demand sustainability. The combination of limited consumption and high inventory levels not only facilitated a decline in prices but also underscored the need for manufacturers to reassess their production strategies in light of the shifting market dynamics.
APAC
In Q3 2024, the APAC region faced significant challenges in the C10 Solvent market, marked by a downward trend in pricing. This decline was driven by a confluence of factors, including bearish market sentiment, subdued demand from downstream sectors, and stable feedstock prices. These elements collectively pressured market prices lower, with Singapore experiencing the most pronounced fluctuations. Throughout the quarter, the offtake for C10 Solvent remained particularly low, especially within the paints and coatings industries, which are major consumers of the product. This weak demand resulted in a 2.5% decrease in prices compared to the previous quarter, further reflecting the broader market dynamics at play. Year-on-year comparisons painted an even more concerning picture, with prices for C10 Solvent dropping by 13% relative to the same quarter in the previous year. By the end of the quarter, C10 Solvent prices FOB Jurong in Singapore were recorded at USD 1010/MT, underscoring the prevailing negative sentiment in the market and highlighting the ongoing challenges faced by producers and suppliers in the region.
Europe
In Q3 2024, the European market for C10 Solvent encountered significant challenges, marked by a persistent decline in prices. This downward trend was primarily influenced by reduced demand from essential industries, with the paints and coatings sector experiencing notable slowdowns. The combination of weakening consumption and high production rates led to an excess supply situation, where efficient supply chains further facilitated the accumulation of stock. Anticipatory stocking in expectation of seasonal maintenance shutdowns added to this oversupply, resulting in intensified downward pressure on prices. Germany emerged as a key player within this landscape, experiencing the most pronounced price fluctuations, which reflected broader trends across Europe. Interestingly, despite the overall decline in C10 Solvent prices throughout the quarter, Germany saw a slight increase of 2% compared to the previous quarter. Year-on-year comparisons revealed a striking 35% increase in prices, illustrating the volatility within the market. By the quarter's end, C10 Solvent prices were recorded at USD 1362/MT FOB Hamburg, highlighting the complexities of the prevailing pricing environment and the factors contributing to the downward trajectory.
FAQs
1. Why did C10 solvent prices decline in Europe in Q2 2025?
• Germany recorded a quarterly drop, mainly due to oversupply and weak demand in May.
• Feedstock costs remained soft, limiting any production cost-driven increases.
2. What led to bearish pricing of C10 solvents in APAC in July 2025?
• Monsoon season slowed demand, especially in coatings and adhesives.
• Oversupply and elevated inventories further dragged prices down.
3. Which industries are driving C10 solvent demand in Q2 2025?
Major consuming sectors include:
- Automotive
- Paints & coatings
- Construction
- Industrial cleaning
4. What is the short-term outlook for C10 solvent prices globally?
• The market shows a bearish outlook across all regions.
• Demand concerns, high inventories, and muted cost support suggest further pressure on prices in Q3 2025.
