For the Quarter Ending March 2025
North America
In Q1 2025, the U.S. chloroform market exhibited strong price stability, underpinned by balanced supply-demand fundamentals and steady feedstock costs. The quarter opened with prices holding firm in early January, supported by consistent production levels and moderate demand from key sectors, particularly pharmaceuticals. Despite a brief dip of approximately 0.8% in mid-January due to weakened agrochemical demand and high inventory levels, the market quickly stabilized, returning to pre-dip levels by the end of the month.
Through February and March, chloroform prices remained largely unchanged, reflecting a resilient market environment. Methanol, the primary feedstock, experienced a 3.6% decline during the quarter, yet this cost reduction had minimal impact on chloroform pricing due to strong demand fundamentals and stable production. Notably, demand from the pharmaceutical sector remained robust, bolstered by major investments in domestic drug manufacturing and the continued expansion of drug development activities. Meanwhile, the agrochemical sector saw fluctuations in demand due to seasonal trends and agricultural output variations, but these shifts were not sufficient to disrupt overall market equilibrium.
By quarter’s end, chloroform prices had decreased by only about 1.7% compared to early January, indicating remarkable market resilience. Stable procurement patterns and adequate inventories helped maintain price consistency, with no significant disruptions anticipated in the near term.
APAC
In Q1 2025, the South Korean chloroform market demonstrated remarkable stability, with prices experiencing only a brief 2.6% increase in early January due to a rise in upstream methanol and natural gas costs. This early surge was short-lived, as stable demand from the pharmaceutical and agrochemical sectors, coupled with consistent domestic production, brought the market back to equilibrium for the remainder of the quarter.
During February, market fundamentals remained steady. Methanol, a key feedstock, held firm in pricing, helping to stabilize chloroform production costs. Downstream demand was supported by strategic procurement, particularly in the agrochemical sector following K-REACH regulatory changes. Meanwhile, the pharmaceutical sector showed cautious demand amid political uncertainty and restrained industrial activity, contributing to a largely unchanged market environment.
By the end of March, chloroform pricing had settled and remained unchanged from mid-January levels. The market closed the quarter with a well-balanced supply and demand scenario, reflecting efficient supply chain management and steady export volumes. Despite subdued domestic industrial sentiment and political instability, chloroform demand remained moderate, allowing the sector to avoid volatility and maintain consistent performance through Q1 2025.
Europe
In Q1 2025, the Chloroform market in Germany showed relatively stable price trends, with minor fluctuations observed. Early in the quarter, prices experienced a moderate increase of around 2-3%, supported by steady demand from the pharmaceutical sector and balanced supply dynamics. This stability persisted through January, as the equilibrium between supply and demand prevented significant market volatility.
However, February saw a slight dip in prices, reflecting a 2.5% decrease, driven by a drop in production costs linked to lower methanol prices. Demand from the agrochemical sector remained steady, although regulatory challenges and external factors like weather conditions limited growth. Despite these challenges, the overall market dynamics remained stable, with no substantial disruptions in supply or demand.
By the end of the quarter, Chloroform prices experienced a notable 6.4% increase, attributed to tight supply conditions caused by production slowdowns and logistical challenges such as port congestion. The pharmaceutical and refrigerant sectors continued to drive steady demand, supporting the upward price trend. Overall, the Q1 2025 market saw a 4-5% increase, primarily influenced by supply-side constraints and stable consumption from key industrial sectors.
For the Quarter Ending December 2024
North America
In Q4 2024, the North American chloroform market experienced a quarter-on-quarter incline of 3.2%, driven by fluctuations in feedstock methanol prices, rising production costs, and moderate but stable demand from key downstream sectors. Methanol prices surged due to production outages in the U.S. and Europe, tightening global supply and raising production costs for chloroform.
Despite these challenges, effective inventory management by market players prevented significant price volatility, and supply levels remained sufficient to meet demand. The pharmaceutical sector maintained consistent demand, supported by increased production activities and regulatory changes under the new U.S. administration, which fostered optimism for growth in biopharmaceutical mergers and acquisitions. The agrochemical sector also contributed to demand, bolstered by strong fertilizer consumption driven by favourable growing conditions and soil nutrient replenishment following a reduced Q3.
However, EPA-proposed mitigation measures targeting pesticides, particularly atrazine, could impact chloroform demand in the long term as companies adjust to stricter compliance requirements. Additionally, geopolitical factors, including strengthened U.S. dollar dynamics and delayed OPEC+ oil production, influenced market sentiment. Overall, the quarter reflected a balanced interplay of supply and demand dynamics, with rising production costs being offset by stable downstream sector performance and effective inventory strategies, resulting in a modestly bullish market trend.
APAC
In Q4 2024, the chloroform market in APAC region specifically Japan experienced a significant quarter-on-quarter decline of 10.4%, driven by weakening downstream demand and a reduction in upstream costs. The overall market was influenced by several factors, including a decrease in global crude oil prices and stable methanol prices. The drop in crude oil prices put downward pressure on production costs, leading to lower chloroform prices. At the same time, the stability in methanol prices failed to support an increase in chloroform prices, resulting in a bearish sentiment in the market. Demand from key downstream sectors, particularly in chemicals, pharmaceuticals, and agrochemicals, showed a noticeable slowdown. This decline in procurement activity was a direct response to the weaker demand for chloroform, which reflected the overall subdued industrial activity in the region. The prices in major exporting countries also followed a downward trend, exacerbating the situation in Japan. With reduced production costs and a lack of robust demand, the Japanese chloroform market struggled to maintain any upward momentum. Consequently, the market outlook for chloroform in Japan remained pessimistic as both domestic and international demand continued to show signs of stagnation, further contributing to the market's negative sentiment.
Europe
In Q4 2024, the chloroform market in Europe especially Germany saw a quarter-on-quarter incline of 1.9%, reflecting a modest upward trend despite a range of market dynamics. The market was supported by steady demand from key sectors, particularly the pharmaceutical and chemical industries, which helped maintain price stability and moderate growth. A significant contributing factor to this positive trend was the European Central Bank's second consecutive interest rate cut, which bolstered economic sentiment and further stimulated demand across various industries. This monetary easing fuelled optimism in the German market, encouraging industrial growth and, in turn, driving demand for chemicals like chloroform. The feedstock market also played a pivotal role in the price movement, as methanol prices saw an uptick, pushing production costs higher. Despite the relatively stable demand, fluctuations in the upstream market, particularly related to methanol, contributed to the moderate price increase. However, the impact of higher production costs was somewhat mitigated by efficient supply chain management and consistent demand from the pharmaceutical sector. This combination of factors resulted in a cautious yet positive outlook for chloroform in Germany, with continued steady demand supporting the modest price increase observed during the quarter.
For the Quarter Ending September 2024
North America
In Q3 2024, the Chloroform market in North America witnessed a significant uptrend in prices, with the USA experiencing the most notable fluctuations. Various factors contributed to the bullish market sentiment, including a surge in feedstock costs, logistical challenges, and increased demand from the pharmaceutical sector. These elements collectively pushed prices upwards, reflecting a positive market environment. The quarter's overall trend indicated a steady increase in Chloroform prices, aligning with seasonal patterns and market dynamics.
Comparing to the same quarter last year, prices have surged by 8%, showcasing the market's growth and resilience. Additionally, the quarter recorded a 3% increase from the previous quarter in 2024, highlighting the continuous upward trajectory. Notably, the second half of the quarter saw a 2% price hike compared to the first half, emphasizing the strengthening market conditions.
The quarter concluded with Chloroform priced at USD 600/MT FOB Los Angeles in the USA, reinforcing the prevailing positive pricing environment and indicating a promising outlook for the Chloroform market in North America.
APAC
In Q3 2024, Chloroform prices in the APAC region experienced a notable decline, influenced by several key factors. Weak demand from downstream industries, particularly in the pharmaceutical and chemical sectors, played a significant role in the decreased market prices. Additionally, stable feedstock prices and ample supply further contributed to the downward trend in Chloroform pricing. In Japan, the market saw the most substantial price changes, reflecting overall trends of muted demand and supply dynamics. The quarter saw a significant decrease in Chloroform prices compared to the same period last year, with a notable -15% decline. Furthermore, the quarter-on-quarter change in 2024 recorded a -5% decrease, indicating a continued negative trend. The price comparison between the first and second half of the quarter also showed a decline of -7%. The quarter-ending price of USD 440/MT of Chloroform CFR Nagoya in Japan further solidified the decreasing sentiment in the pricing environment, highlighting a challenging period for Chloroform markets in the region.
Europe
In Q3 2024, Chloroform prices in Europe experienced a notable uptrend, particularly in Germany, where the market saw the most significant price fluctuations. Several key factors influenced this price surge. Firstly, the increase in feedstock prices, particularly Methanol, played a crucial role in driving up production costs and subsequently pushing Chloroform prices higher. Additionally, geopolitical tensions and potential supply disruptions in major producing regions contributed to supply constraints, further bolstering prices. The overall market sentiment was bullish, with moderate to low supply levels and moderate demand. Germany, in particular, witnessed the maximum price changes within the region. The quarter showed a consistent upward trend, with prices increasing by 1% from the first half to the second half. Compared to the same quarter last year, prices were down by 5%, reflecting the current upward momentum. The quarter-on-quarter change from the previous quarter in 2024 was recorded at -2%, indicating a significant turnaround towards positive price growth. The quarter ended with Chloroform prices at USD 780/MT FOB Hamburg in Germany, marking a substantial increase from the beginning of the quarter.
For the Quarter Ending June 2024
North America
In Q2 2024, the Chloroform market in North America experienced a stable compared to previous quarter. Primarily, a combination of ample supply and subdued demand from the downstream refrigerant and pharmaceutical sectors played a crucial role. The glut in supply was exacerbated by higher inventory levels and a reduction in new orders, leading to a competitive environment where sellers were compelled to cut prices to move stock. Additionally, the stabilization of feedstock methanol prices contributed to the overall decline in production costs, further enabling price reductions for Chloroform.
Seasonality effects, such as reduced demand from the refrigerant sector during the warmer months, also contributed to the downward pressure on prices. Compared to the same quarter last year, Chloroform prices in the USA dropped by 2%, reflecting a negative pricing sentiment. From the previous quarter in 2024, prices declined by 1%, underscoring the ongoing softness in market conditions.
The latest quarter-ending price for Chloroform in the USA settled at USD 580/MT FOB Los Angeles. This ongoing decrease highlights a negative pricing environment, driven by oversupply, weak demand, and competitive pressures, painting a challenging picture for market participants in Q2 2024.
APAC
The second quarter of 2024 for Chloroform in the APAC region has witnessed a noticeable upward trend in pricing, driven by several critical factors. Among the primary reasons is a robust increase in demand from downstream refrigerant and pharmaceutical industries. This heightened demand was further amplified by supply chain disruptions, including a severe shortage of containers and vessel space, which led to skyrocketing freight rates. Rising production costs, influenced by increased energy prices and feedstock methanol, have also exerted upward pressure on Chloroform prices. Moreover, the strategic reduction of production rates by manufacturers to prevent market oversupply has contributed to the firming of prices.
Focusing on Japan, which experienced the most significant price changes, the Chloroform market has been notably dynamic. The overall trend has been characterized by strong seasonal demand from air conditioning maintenance and refrigerant sectors during the warmer months, pushing prices higher. Correlating with robust trading fundamentals and increased buyer interest in bulk purchases, this quarter's prices saw a 3% increase from the previous quarter of 2024, despite a -3% decline compared to the same quarter last year. The price escalation was more pronounced in the latter half of the quarter, with a 2% rise, reflecting intensified purchasing activities and supply constraints. The quarter concluded on a positive note, with the latest price reaching USD 510/MT CFR Nagoya, underscoring a stable yet progressively increasing pricing environment. Overall, the pricing sentiment for Chloroform in Japan during Q2 2024 has been positively influenced by seasonal demand and strategic supply management, maintaining a firm upward trajectory.
Europe
In Q2 2024, the European chloroform market experienced a notable downturn, driven by a confluence of factors. The quarter saw ample supply, sluggish trading activity, and declining demand from downstream industries, particularly the R-22 refrigerant sector. The market's bearish sentiment was exacerbated by stockpiling pressures, leading local manufacturers to cut production to clear existing inventories. These challenges were compounded by weak spot discussions in the methanol market, further diminishing market purchases and contributing to a pervasive negative atmosphere. Despite attempts by regional suppliers to maintain prices through rollovers, the market conditions necessitated decreases to align with the overall trading environment.
Focusing on Germany, which observed the most significant price changes, the overall trend highlighted a consistent decline. Seasonality played a role, with the typical second-quarter uptick in demand for coolants failing to materialize. This resulted in a -12% price change compared to the same quarter last year, underscoring a substantial year-over-year drop. The price change from the previous quarter in 2024 remained stagnant at 0%, reflecting a stable yet negative sentiment. Additionally, the price comparison between the first and second half of the quarter showed a further -1% decline, indicating persistent downward pressure throughout the period.
Concluding the quarter, the price of Chloroform in Germany stabilized at USD 760/MT FOB Hamburg. The overall pricing environment has been decidedly negative, driven by weak demand, ample supply, and an inability to stimulate significant purchasing activity, marking a challenging quarter for the chloroform market in Germany and the wider European region.
