For the Quarter Ending September 2025
North America
• The Cyclopentane Price Index fell quarter-over-quarter in Q3, reflecting weak demand and steady supply.
• Demand from refrigeration systems, polyurethane foam insulation, and chemical solvent applications remained soft across key U.S. markets.
• The Cyclopentane Price Forecast suggests limited upside in Q4 amid cautious downstream restocking and muted construction activity.
• Stable crude oil and naphtha prices moderated the Cyclopentane Production Cost Trend, helping producers maintain margin stability.
• The n-Propanol Demand Outlook remained conservative, indirectly affecting solvent blending and intermediate consumption trends.
• Weekly movements in the Price Index were neutral to soft, supported by balanced supply and consistent plant operations.
• High inventories and limited export pull weighed on domestic offers, keeping the market soft throughout the quarter.
Why did the price of Cyclopentane change in September 2025 in North America?
• Prices decreased due to low offtake from insulation and appliance manufacturers, despite expectations of seasonal demand recovery.
• Stable feedstock costs and uninterrupted production maintained supply, limiting upward price momentum.
• Sufficient spot availability and cautious procurement behavior kept sellers from raising offers, sustaining a soft market tone.
APAC
• In China, the Cyclopentane Price Index fell by 7.0% quarter-over-quarter, reflecting oversupply and muted downstream demand.
• The average Cyclopentane price for the quarter was approximately USD 1558/MT, reflecting mixed regional demand and oversupply dynamics.
• Cyclopentane Spot Price trended lower amid port congestion and ample inventories, sustaining a soft Price Index narrative.
• Cyclopentane Price Forecast remains within narrow ranges as current supply-demand dynamics in APAC indicate balanced market conditions.
• Cyclopentane Production Cost Trend shows limited pressure, as upstream benzene and energy costs stay comparatively stable.
• Cyclopentane Demand Outlook highlights steady refrigeration and insulation sectors, though overall domestic demand softened modestly so far.
• Cyclopentane Price Index remains at range-bound levels, reflecting balanced supply chains and modest import activity in practice.
• Logistics and port delays continue to influence shipments; however, domestic supply remains sufficiently stocked to prevent acute spikes these days.
Why did the price of Cyclopentane change in September 2025 in APAC?
• September price movements reflected improved domestic supply conditions and steady regional demand amid seasonal insulation activity.
• Logistics bottlenecks at major ports tempered outbound shipments, contributing to inventory buildup and price stabilization.
• Lower upstream benzene costs and balanced production rates limited upward pressure on Cyclopentane prices in September.
Europe
• The Cyclopentane Price Index fell quarter-over-quarter in Q3, reflecting bearish sentiment across insulation and refrigeration sectors.
• Weak demand from polyurethane foam insulation, refrigeration systems, and chemical solvent applications kept market fundamentals subdued.
• The Cyclopentane Price Forecast suggests limited upside in Q4 amid cautious restocking and muted construction activity.
• Stable naphtha and crude oil prices moderated the Cyclopentane Production Cost Trend, helping producers maintain margin stability.
• The n-Propanol Demand Outlook remained conservative, indirectly affecting solvent blending and chemical intermediate consumption trends.
• Weekly movements in the Price Index were neutral to soft, supported by balanced supply and consistent plant operations.
• High inventories and limited export pull weighed on domestic offers, keeping the market soft throughout the quarter.
Why did the price of Cyclopentane change in September 2025 in Europe?
• Prices decreased due to low offtake from insulation and appliance manufacturers, despite expectations of seasonal demand recovery.
• Stable feedstock costs and uninterrupted production maintained supply, limiting upward price momentum.
• Sufficient spot availability and cautious procurement behavior kept sellers from raising offers, sustaining a soft market tone.
For the Quarter Ending June 2025
North America
• The Cyclopentane spot market in North America remained largely stable throughout Q2 2025, underpinned by a balanced supply-demand dynamic and limited volatility in feedstock pricing.
• Feedstock trends, including fluctuations in benzene and crude oil costs, influenced production economics during the early to mid-quarter period but did not lead to significant price disruptions.
• Trade-related factors, notably tariffs and regulatory measures affecting imports—particularly from Canada and other feeder markets—introduced procurement challenges, prompting a shift toward regional sourcing strategies.
• As the summer season advanced, demand from core end-use sectors such as industrial refrigeration and insulation materials strengthened, leading to increased purchasing activity in the foam-blowing and cooling segments.
• Logistical challenges, including port congestion and limited capacity along the Gulf and East Coasts, created operational bottlenecks. However, these constraints were managed without causing severe supply imbalances.
• Meanwhile, environmental policy drivers—notably revisions to the U.S. Clean Air Act and ongoing implementation of Montreal Protocol and Kigali Amendment commitments—continued to support structural demand for Cyclopentane as a low GWP alternative to traditional blowing agents.
Why did the price of Cyclopentane evolve in North America in Q2 2025?
• Feedstock dynamics initially lowered production cost pressures, but later in the quarter, tightening of imports due to tariffs and trade frictions reduced external supply, nudging procurement dynamics.
• Seasonally strong demand from refrigeration and foam-blowing industries provided upward momentum in late Q2, offsetting earlier softness.
• Despite stable internal output, cost headwinds emerged from logistical inflation and trade-related sourcing shifts, supporting price resilience across the region.
• The Demand Outlook remained moderately positive, bolstered by strong appliance production cycles and insulation demand under sustainability policies.
• Price forecasts for H2 2025 suggest continuation of a steady trend, with modest upside if appliance and construction activity accelerate further.
APAC
• The Cyclopentane Spot Price in the APAC region, particularly China, fell by 6.20% quarter-over-quarter in Q2 2025, moving from CNY 1743/MT in April to CNY 1635/MT in June. This decline reflects a persistent softness in the Price Index driven by inventory accumulation and subdued downstream activity.
• Supply remained stable, supported by steady domestic production and unimpeded feedstock availability. However, widespread port congestion across major coastal hubs such as Shanghai, Ningbo, and Qingdao led to a buildup in domestic inventories, creating temporary oversupply conditions.
• On the demand side, key consuming sectors—refrigeration, insulation, and chemicals—exhibited mixed performance, with a brief seasonal uptick in April offset by weakening trends in May and June.
• Despite solid year-on-year growth in China's refrigerator production in June, overall demand for Cyclopentane remained modest due to global economic uncertainties and muted international procurement.
• Macroeconomic indicators pointed to cautious sentiment, with declining export orders and patchy domestic consumption growth shaping procurement behavior throughout the quarter.
Why did the price of Cyclopentane change in July 2025 in Asia?
• In July 2025, Cyclopentane prices in the Chinese domestic market registered a marginal decline, reversing the previous week’s stability as the Price Index softened further.
• The Cyclopentane Production Cost Trend remained stable amid consistent feedstock supply and steady manufacturing rates, but logistical inefficiencies and high inventory levels offset any potential cost-driven price support.
• The Cyclopentane Demand Outlook remained muted due to softened downstream activity in insulation and refrigeration, combined with weak international demand, further exacerbated by global economic headwinds.
• The Cyclopentane Price Forecast signals a continued bearish tone unless export momentum recovers or domestic procurement strengthens, particularly from the appliance and construction sectors.
Europe
• The Cyclopentane spot market in Europe opened Q2 2025 under downward pressure, primarily influenced by a decline in benzene feedstock costs—a key determinant of production economics.
• However, as the quarter progressed, logistical and supply-side disruptions—including port strikes, labor shortages, and political uncertainty across certain regions—introduced localized constraints. These factors helped reverse the initial price weakness and contributed to a phase of price stabilization.
• On the demand front, seasonal growth in refrigeration and foam-blowing applications gained momentum by mid-quarter, offsetting earlier market softness and lending support to overall market resilience.
• Furthermore, ongoing regulatory initiatives—notably the EU-led phase-down of high-GWP substances under environmental mandates—continued to drive structural demand for Cyclopentane, particularly in appliance manufacturing and building insulation sectors.
Why did Cyclopentane prices evolve in Europe in Q2 2025?
• Cyclopentane production costs experienced some relief at the beginning of Q2 2025, largely driven by a decline in benzene prices. However, this advantage was gradually offset by escalating logistical challenges, including port congestion and labor disruptions, which placed pressure on regional supply availability.
• The demand environment improved steadily over the quarter, supported by seasonal growth in key downstream sectors such as refrigeration and insulation. This resurgence in industrial activity led to increased offtake and more consistent procurement from end users.
• While manufacturing output remained stable, mid-quarter supply chain disruptions played a pivotal role in regulating inventory levels. These bottlenecks curtailed the risk of material oversupply and contributed to relatively balanced market conditions.
• Overall market sentiment transitioned toward cautious optimism by the end of Q2. This shift was underpinned by recovering seasonal demand and constrained supply flows. Nevertheless, uncertainty surrounding feedstock pricing and evolving regulatory requirements continued to temper confidence in the short-term outlook.
For the Quarter Ending March 2025
North America
The North American Cyclopentane market experienced notable fluctuations during the first quarter of 2025, shaped by shifting feedstock costs, demand variability, and evolving geopolitical conditions. In the early part of the quarter, Cyclopentane prices in the U.S. trended downward, primarily due to the declining prices of its key feedstock, Benzene. The reduced feedstock costs translated into lower production expenses, thereby exerting downward pressure on Cyclopentane pricing.
However, as the quarter progressed, several market-altering developments unfolded. The imposition of tariffs and emerging trade disruptions affected import flows from key exporting countries such as Canada, leading to constrained supply and a subsequent increase in procurement costs.
Additionally, the onset of the summer season contributed to a resurgence in domestic demand, particularly from the refrigerant and foam-blowing sectors, which are significant consumers of Cyclopentane. These combined factors, tightening supply due to trade limitations and seasonal demand escalation—contributed to a reversal in the price trend, marking a recovery in Cyclopentane prices towards the latter half of the quarter.
APAC
The Asia-Pacific Cyclopentane market witnessed notable volatility during Q1 2025, with India and China emerging as the most affected regions. Prices declined slightly in the early part of the quarter, primarily due to surplus material availability and a continuous drop in the prices of Benzene, a key feedstock. This resulted in reduced production costs, exerting downward pressure on Cyclopentane prices. However, as the quarter progressed, the market rebounded and maintained an upward trajectory. Domestically, the seasonal onset of warmer temperatures in the region spurred increased demand from the refrigerant and foam-blowing sectors, which are key end-users of Cyclopentane. This seasonal demand uptick was particularly evident in insulation and cooling applications. On the international front, China's continued shift towards low-global warming potential (GWP) blowing agents, in alignment with its environmental regulatory framework and sustainability objectives, significantly bolstered demand for Cyclopentane. These combined factors of seasonal domestic demand and strong international momentum contributed to the price recovery observed during the latter half of the quarter.
Europe
The European Cyclopentane market underwent notable fluctuations during the first quarter of 2025, influenced by varying feedstock costs, dynamic demand patterns, and regional geopolitical developments. At the start of the quarter, Cyclopentane prices in Europe trended downward, driven largely by a decline in Benzene prices, the primary feedstock. The resulting decrease in production costs placed downward pressure on Cyclopentane prices across the region. However, market conditions shifted as the quarter progressed. Persistent port strikes, labor shortages, and political uncertainties linked to upcoming elections moderately disrupted regional supply chains, leading to localized material shortages. These supply-side constraints began exerting upward pressure on prices. Simultaneously, the seasonal transition towards summer spurred increased demand from the refrigerant and foam-blowing industries, which are key consumers of Cyclopentane. The convergence of constrained supply and rising demand reversed the initial price trend, resulting in a steady recovery in Cyclopentane prices during the latter half of the quarter. This interplay of factors underscored the market’s sensitivity to both logistical challenges and seasonal consumption trends.
For the Quarter Ending December 2024
North America
In Q4 2024, the North American Cyclopentane market displayed fluctuating dynamics, influenced by supply shortages early in the quarter and robust international demand, particularly from India during its festive season. This initial optimism was tempered by declining prices in November, driven by reduced raw material costs such as Benzene and Crude Oil, alongside decreased production and lower energy expenses.
Elevated Cyclopentane inventories in the region further pressured prices. Persistent port tensions disrupted trade flows, causing rerouted shipments and longer tonne-miles, adding complexity to the supply chain. These disruptions led to inventory surpluses at ports, further amplifying bearish market sentiment.
Domestically, the refrigerant sector witnessed diminished demand as the seasonal peak had passed, narrowing the supply-demand gap. The combined effect of reduced production costs, rising inventories, and subdued local demand contributed to the overall downward price trend. Meanwhile, trade disruptions and logistical challenges underscored the intricate market conditions during the quarter. Despite these pressures, international demand provided partial support, preventing a sharper downturn.
Asia – Pacific
The Cyclopentane market in Asia experienced mixed price dynamics during Q4 2024, with significant developments observed in China. After a period of stability, prices declined due to a closely balanced supply-demand situation in the refrigerant sector. Although feedstock Benzene prices rose, their impact on Cyclopentane pricing was limited, given ample inventories and consistent domestic production. Seasonal year-end discounts offered by traders further contributed to the downward trend. Manufacturing activity remained strong, with sufficient stockpiles ensuring uninterrupted supply to domestic markets. Logistical challenges emerged due to Typhoon Kong-Rey, which disrupted operations at key Chinese ports such as Shanghai and Ningbo, leading to delays in distribution. Despite these setbacks, export volumes moderately recovered, driven by robust demand from India's refrigeration industry ahead of its festive season. Domestically, steady procurement activity from the refrigerant and insulation industries supported market stability. Festive-driven consumption bolstered demand, adding a degree of optimism despite logistical bottlenecks. Overall, the Cyclopentane market in Asia during Q4 2024 reflected the interplay of steady production, seasonal demand fluctuations, and external disruptions, underscoring the region’s ability to adapt to challenges while maintaining stable industrial performance. The recovery of export volumes highlighted the resilience of regional supply chains despite adverse conditions.
Europe
In the final quarter of 2024, the European Cyclopentane market experienced bearish trends, peaking in December. A combination of subdued demand from domestic and international refrigerant markets and a prolonged decline in crude oil prices contributed to the downturn. The fluctuating costs of essential raw materials, such as Benzene and Crude Oil, prompted reduced production rates, exerting downward pressure on Cyclopentane pricing. Elevated inventories in the region further amplified the bearish sentiment. Trade flow disruptions caused by intermittent labor shortages and strikes at major European ports, including Hamburg and Antwerp, compounded market challenges. These events led to rerouted shipments, longer tonne-miles, and inventory buildups at ports, adding complexity to the supply chain. This disrupted logistics strained the balance between supply and demand, causing price corrections. Overall, the market's dynamics in Q4 reflected a narrowing gap between supply and demand, with seasonal refrigerant demand tapering off and logistical constraints heightening uncertainties. These factors collectively solidified a bearish outlook for Cyclopentane in the European market by the year’s end.
