For the Quarter Ending September 2025
North America
• In the USA, Dimethyl Sulphate Price Index fell by 0.52% quarter-over-quarter, driven by weaker methanol
• The average Dimethyl Sulphate price for the quarter was approximately USD 1920.00/MT, DEL Los Angeles
• Dimethyl Sulphate Spot Price softened on West Coast amid inventory overhang and cautious purchasing activity
• Dimethyl Sulphate Price Forecast signals limited near-term upside, with seasonal restocking offsetting weak immediate demand
• Dimethyl Sulphate Production Cost Trend eased as methanol costs declined, pressuring producer margins, export competitiveness
• Dimethyl Sulphate Demand Outlook remains cautious as pharmaceutical stockpiling contrasts with subdued specialty chemical procurement
• Dimethyl Sulphate Price Index supported by export interest yet constrained by West Coast inventory overhang
• Major U.S. producers-maintained operations while logistics normalization eased freight pressure on delivered Dimethyl Sulphate
Why did the price of Dimethyl Sulphate change in September 2025 in North America?
• Methanol feedstock eased, reducing production costs transmitted as downward pressure on Dimethyl Sulphate delivered offers
• Cautious pharmaceutical and specialty chemical procurement limited domestic demand, prompting sellers to adjust offers lower
• Easing freight and improved logistics increased spot availability, reducing urgency and removing short-term price support
APAC
• In India, the Dimethyl Sulphate Price Index fell by 0.58% quarter-over-quarter, from weaker pharma demand.
• The average Dimethyl Sulphate price for the quarter was approximately USD 626.06/MT, reflecting subdued demand.
• Dimethyl Sulphate Spot Price eased as lower methanol reduced production costs, softening the Price Index.
• Dimethyl Sulphate Price Forecast suggests near-term rangebound movement, contingent on export recovery and shipping schedules.
• Dimethyl Sulphate Production Cost Trend improved as methanol prices eased, relieving margin pressure for producers.
• Dimethyl Sulphate Demand Outlook remains cautious, pharmaceutical and dye sectors delaying bulk procurement amid uncertainty.
• Dimethyl Sulphate Price Index reflected limited downside as inventories remained workable despite softer export interest.
• Operational uptime at domestic units stayed high, constraining volatility despite mixed export inquiries and buying.
• Trader offers were competitive while selective bulk procurement resumed, providing intermittent support to spot levels.
Why did the price of Dimethyl Sulphate change in September 2025 in APAC?
• Lower methanol feedstock prices reduced production expenses, transmitting cost relief to Dimethyl Sulphate CFR offers.
• Subdued pharmaceutical and chemicals demand curtailed offtake, prompting sellers to soften spot and contract terms.
• Stable supply and steady imports kept inventories ample, limiting upward pressure on domestic price levels.
Europe
• In Germany, the Dimethyl Sulphate (DMS) Price Index fell quarter-over-quarter, reflecting softer methanol feedstock values and moderated industrial demand.
• The average DMS price for the quarter was influenced by stable production activity and subdued export movements across Western Europe.
• DMS Spot Price eased slightly mid-quarter as downstream pharmaceutical and dye manufacturers deferred purchases amid comfortable inventories.
• DMS Production Cost Trend declined marginally due to weaker methanol prices, which eased overall production expenses for regional suppliers.
• DMS Demand Outlook remained steady, supported by pharmaceuticals and intermediates but capped by slow specialty chemical consumption.
• DMS Price Forecast suggests limited short-term volatility, with stable feedstock costs and balanced supply likely to maintain narrow trading ranges.
• European producers maintained consistent operating rates, preventing shortages and stabilizing depot-level offers despite sluggish buying.
• Freight and logistics conditions remained stable across intra-EU routes, supporting steady distribution and limiting cost escalation.
Why did the price of Dimethyl Sulphate change in September 2025 in Europe?
• Lower methanol input costs and cautious downstream demand kept DMS prices on a slightly weaker trajectory across the region.
For the Quarter Ending June 2025
North America (USA)
• The Di Methyl Sulphate Price Index in Los Angeles averaged USD 1,963/MT DEL for Q2 2025, starting at USD 1,880 in April, rising to USD 1,960 in May, then easing to USD 1,920 in June, a 2.9% increase from Q1 driven by methanol volatility and shifting pharma sector strategies.
• The DMS Spot Price softened in June as methanol fell 4.6%, with stable logistics allowing producers to pass savings forward while maintaining competitiveness.
• Why did the price change entering Q3 2025?
Pharma’s current focus on finished drug stockpiling and onshoring projects, rather than raw material intake, tempered short-term demand, prompting slight price reductions.
• The DMS Price Forecast for Q3 expects range-bound pricing (USD 1,900–1,950/MT), with recovery potential if methanol rebounds or pharma production ramps as domestic capacity expands.
• The DMS Demand Outlook stays cautious, with near-term muted volumes despite a longer-term bullish view tied to tariffs, R&D incentives, and new facility buildouts.
Europe (Germany)
• The Di Methyl Sulphate market in Europe stayed stable-to-slightly positive through Q2 2025, supported by steady downstream pharmaceutical and personal care demand despite softer EU industrial sentiment.
• The DMS Spot Price was steady, as balanced methanol and sulphuric acid costs and smooth logistics kept the production cost trend moderate, allowing sellers to sustain margins.
• Why did the price hold entering Q3 2025?
A balanced supply-demand setup, resilient end-use consumption, and manageable feedstock costs prevented any major pricing swings.
• The DMS Price Forecast for Q3 suggests flat-to-modest upside, supported by pharmaceuticals and specialty chemicals unless methanol costs surge or broader industrial weakness deepens.
• The DMS Demand Outlook remains anchored by pharma and personal care, with agrochemicals and niche chemical segments adding moderate support while general industrial demand remains neutral.
Asia-Pacific (India)
• The Di Methyl Sulphate Price Index in India averaged USD 602/MT Ex Mumbai during Q2 2025, rising from April to USD 636/MT in May before slipping in June, a 2.3% quarterly decline on softer methanol costs and weak pharma pull.
• The DMS Spot Price eased as steady supply, stable logistics, and reduced methanol-driven conversion costs led to competitive CFR Hazira offers despite adequate inventories.
• Why did the price change entering Q3 2025?
The pharma sector’s underperformance (Nifty Pharma down 6% in H1) and bearish buyer sentiment drove sellers to reduce prices to sustain movement.
• The DMS Price Forecast for Q3 points to further softening toward USD 578/MT, barring a methanol recovery or improved pharma export sentiment tied to US tariff clarity.
• The DMS Demand Outlook is subdued, with pharmaceuticals cutting bulk intake while personal care and specialty chemicals provide only minor offsetting demand.
For the Quarter Ending March 2025
North America
In Q1 2025, Dimethyl Sulphate (DMS) prices in North America experienced a mixed trend, driven by both cost factors and steady demand from key sectors. Early in the quarter, DMS prices rose due to a sharp increase in methanol prices, which saw an 11% rise in the US. This price hike was further supported by strong demand from industries such as pharmaceuticals, agrochemicals, and personal care, along with supply-side constraints including rising input costs and logistical challenges. The robust performance of the pharmaceutical sector and continued consumer spending in personal care helped maintain steady demand, driving prices higher.
In February, the upward momentum continued as methanol prices remained elevated, maintaining upward pressure on DMS prices. Despite these increased raw material costs, supply conditions remained stable, and demand from the pharmaceutical and personal care industries remained strong.
However, by March, DMS prices saw a modest decline, aligning with a drop in methanol prices. The price adjustment was primarily driven by reduced input costs, but demand from the pharmaceutical and personal care sectors remained firm, balancing the market.
Overall, while prices rose early in Q1 2025, they experienced a slight correction in March. The market outlook moving forward will largely depend on methanol price fluctuations and ongoing demand from the pharmaceutical and personal care industries.
APAC
In Q1 2025, the Dimethyl Sulphate (DMS) market in the APAC region, with a focus on India, exhibited a mixed pricing trend influenced by shifts in downstream demand, feedstock dynamics, and market competition. The quarter began with a price increase in January, supported by strong consumption from pharmaceutical, agrochemical, and personal care industries. Rising methanol prices and supply-side tightness further contributed to the upward momentum. Pharmaceutical demand remained robust, with consistent growth across major therapeutic areas such as cardiac and anti-diabetic treatments, reinforcing the role of DMS as a critical intermediate in drug production. The beauty and personal care sector also performed steadily, driven by rising consumer spending and inflation easing.
In February, DMS prices experienced a slight increase, even though methanol costs declined and freight rates softened. This indicated that manufacturers prioritized stable pricing strategies in response to steady downstream demand, particularly from pharmaceutical and personal care industries. Production remained uninterrupted, raw material supply was consistent, and logistics faced no major disruptions, contributing to a generally stable market environment.
However, March marked a notable shift in the trend, with DMS prices declining by approximately 8.9%. This downward correction occurred despite higher methanol feedstock costs, underscoring a reduction in procurement momentum across key sectors. Increased competition among domestic manufacturers, elevated inventory levels, and a lack of extraordinary demand from downstream sectors prompted price adjustments. The pharmaceutical sector maintained healthy output, but cost optimization in procurement strategies likely influenced the softer price trend. Meanwhile, the beauty and personal care market continued its growth, fuelled by social media trends and demand for organic products, though not enough to counterbalance the broader price dip.
Europe
In Q1 2025, the Dimethyl Sulphate (DMS) market in Europe demonstrated a relatively stable to slightly positive price trend, marking a more balanced performance compared to the mixed volatility seen in Q4 2024. While the previous quarter was shaped by an initial decline due to weak industrial demand followed by a recovery driven by seasonal upticks and supply constraints, Q1 2025 showed greater consistency, underpinned by steady demand from the pharmaceutical and personal care sectors.
The beauty and personal care industry in Europe continued to display resilience, particularly in the UK, where consumer spending in beauty retail increased, supported by a strong appetite for fragrances, dermatological products, and premium cosmetics. This maintained a stable downstream pull for DMS, often used as a chemical intermediate in product formulations. Despite moderate inflation across the eurozone, spending in non-food categories such as health and beauty remained one of the top-performing segments.
Although the luxury beauty segment showed slower growth, ongoing retail innovation and consumer engagement strategies helped sustain product turnover. Unlike Q4 2024, Q1 2025 was not significantly impacted by supply-side disruptions or seasonal slowdowns, enabling more stable pricing. Looking forward, the European DMS market is likely to remain supported by consistent demand from the personal care and pharmaceutical industries.
For the Quarter Ending December 2024
North America
The North American Dimethyl Sulphate (DMS) market experienced a mixed price trend in Q4 2024, marked by an initial decline followed by a subsequent incline. Early in the quarter, DMS prices fell by 2.7% due to weakened demand from the agricultural sector, as farmers faced financial constraints amid low crop prices and shifted to cheaper generic agrochemicals.
This trend of cost-saving impacted the demand for premium specialty chemicals, including DMS. The increasing market penetration of off-patent chemicals and trait-specific seeds that favor generic alternatives further pressured demand. While supply levels remained stable, producers faced competition from lower-cost alternatives, intensifying price pressures.
In the latter half of the quarter, the market saw a recovery with a 4% price increase. Rising feedstock costs, particularly in sulfur-based production, coupled with global supply chain challenges, drove production costs higher. The pharmaceutical sector's expansion, bolstered by robust domestic and international demand, significantly contributed to the price rebound. Additionally, strong export volumes from India, a key supplier, strained global availability, further supporting the upward trend in North America. Overall, Q4 2024 reflected a demand-driven decline in the first half and a supply-constrained incline in the second, resulting in a net mixed trend for the region.
APAC
The Dimethyl Sulphate (DMS) market in the APAC region exhibited a mixed trend during Q4 2024, with a notable decline in the first half, followed by a recovery and incline in the latter half. The early part of the quarter faced downward pressure as prices declined by 4.8%, driven by challenges in the agrochemical sector, weak global demand, and the impact of Chinese oversupply. Factors such as destocking, delayed customer purchases, and subdued export activity further exacerbated the market slowdown. Weak rainfall patterns and strained agrochemical demand in India, a key regional player, also contributed to the price dip.
However, the second half of the quarter witnessed a reversal in this trend. The robust growth in India's pharmaceutical sector, coupled with increased export volumes and rising demand from downstream industries, spurred a 2.1% price increase. Stable sulphuric acid prices and rising production costs supported this upward trajectory. Additionally, the delayed sowing season bolstered procurement activity from the agrochemical sector, providing further support to DMS prices.
Overall, the APAC DMS market in Q4 2024 was characterized by initial weakness followed by a steady recovery, driven by demand resurgence in key end-use sectors.
Europe
The European Dimethyl Sulphate (DMS) market exhibited a mixed price trend in Q4 2024, characterized by an initial decline followed by a recovery in the latter half. Early in the quarter, DMS prices faced downward pressure due to subdued demand from key industrial sectors, including agrochemicals and dyes, amidst seasonal fluctuations and inventory destocking. Additionally, increased competition among suppliers led to temporary price stabilization and reductions, while stable production levels and sufficient supply eased market pressures. Transportation and logistical challenges were minimal during this phase, further contributing to the decline in prices.
In the latter half of the quarter, the market experienced a rebound driven by renewed demand from the pharmaceutical and agrochemical industries. Seasonal production upticks in downstream sectors spurred consumption of DMS, while production constraints at select manufacturing facilities due to maintenance and raw material shortages limited supply, creating upward price momentum. Rising feedstock costs, coupled with transportation delays, compounded the recovery trend.
Overall, Q4 2024 showcased a demand-driven decline in the first half, followed by supply-side challenges and robust industrial activity leading to an incline, resulting in a mixed price trajectory for DMS in Europe.
