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Heavy Aromatic Naphtha Solvent

Heavy Aromatic Naphtha Solvent Price Trend and Forecast

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Heavy Aromatic Naphtha Solvent Price Trend and Forecast

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Market Overview

For the Quarter Ending June 2021

North America

Supplies improved in the North American region as manufacturing units sensed recovery from the devastating impact of the winter storm Uri in Q1. Several refiners were heard operating at optimum rates after downstream players resumed production in the US Gulf region. Offtakes from several downstream industries picked up due to the production hinderance incurred in the previous quarter, while some were seen actively stockpiling the material due to the upcoming hurricane season in USA. sentiment for the procurement of large volumes strengthened among the spot buyers. As a ripple effect, the pricing trend remained buoyed throughout the quarter in the North American region.

Asia Pacific

Due to surge in COVID cases in India, petrochemicals demand in Southeast Asia remained dull for a larger part of Q2 2021. Despite slowness in market activities, Heavy Aromatic Naphtha prices witnessed marginal gains on the back of firm values of upstream crude oil. China imposed consumption taxes on the imported heavy aromatic commodities which further curtailed the margins of the local manufacturers. High demand from the octane blend stock market was reported in China due to sharp economic rebound. Demand from the solvent sector was reportedly firm in India. The average quarterly price of Heavy Aromatic Naphtha Ex-Works pricing in June settled at USD 3806 per tonne.

Europe

During the second quarter of 2021, Heavy Aromatic Naphtha solvent supplies in the European region were tight due to high consumption by petrochemical and gasoline blending users in the regional market. Supply conditions were improved over the last quarter as several producers in the Middle East restarted production and import volumes from the US improved in the second quarter. Mass vaccine rollout improved the material movement in the European region. As a result, offtakes from the downstream petrochemical manufacturing units and gasoline blending sector surged.

For the Quarter Ending March 2021

North America

Naphtha supplies in the region were constrained throughout the first quarter, due to shut down of several refineries in the region as the rigorous freeze weather in the USA Gulf region forced production units to shut for indefinite period. The demand slump in the mid-quarter due to curtailed refinery operations while export volumes dropped significantly to the Asian and European region as the refineries run rate slumped by 28% within Q1. Soaring crude maintained upwards pressure over the price curve. The slump in refinery operating rates subsequently surged the prices of Heavy Aromatic Naphtha and other downstream products in the North American region.

Asia-Pacific (APAC)

The supplies of Heavy Aromatic Naphtha remained tight during Q1 due to multiple throughput cuts impended by OPEC+ nations in crude oil processing. Asian refiners proportionally surged the prices of Heavy Aromatic Naphtha in the Asian Markets. The demand outlook remained uncertain due to some planned and unplanned plant turnarounds including the shutdown of ENEOS olefins plant in Japan due to earthquake in February. Towards the end of the quarter, the market outlook showed improvement due to the addition of new crackers in China and sturdy offtakes for aromatics production. Due to the high transportation freights and supply chain uncertainties, the prices of Heavy Aromatic Naphtha in India witnessed slightly uptrend with the quarterly average standing around USD 3729/ton.

Europe

Demand for Heavy Aromatic Naphtha solvent was sluggish during the first quarter of 2021, as the refineries in the Northwest European region were operating at the reduced operating capacities due to severe cold weather, followed by reduced imports from the USA. Some relief was observed as a major supplier to the region reduced the offered prices to the downstream converters. Demand was ample in the European region as the consumption from the downstream sector improved, however supplies seemed balanced with limited commercial and industrial activities.

For the Quarter Ending December 2020

Asia

Demand for Heavy Aromatic Naphtha solvent was weak in the Asian region during Q4 2020. This led to oversupply of heavy naphtha and the prices faced downward trend. Due to lower than anticipated prices and weak margins, the production units lowered their production levels and started running around only 70% of their original capacities. Although export supply was kept short due to container shortages between Asia and Europe, the demand saw a staggering rise. Despite of healthy COVID-19 recovery in several Asian countries like China and India, the demand was low but improved compared to the prior quarter. Prices for heavy naphtha prices also improved from the record lows observed in Q2 to touch normalcy in Q4.

Europe

Amid the second wave of COVID 19 in the European region, the demand of heavy naphtha kept on bottom line. Re-imposition of COVID-19 restrictions reduced the domestic oil consumption in the European countries like Russia, Germany, Italy etc. New coronavirus strain and full lockdown in UK pushed the prices and consumption to the surface. Even in December 2020, due to low demand, the prices of crude oil were seen going down every week e.g., brent crude prices in late December reduced by around 1.7% and settled at USD 50/bbl. The crude rates significantly drove the rates of Heavy Aromatic Naphtha. Meanwhile rolling out of vaccines enhanced the market sentiments, and manufacturers anticipated healthy recovery in industrial and domestic activities in the upcoming quarter.

North America

The crude oil industry remained highly affected by low consumption of heavy naphtha solvent amid moderate recovery from the pandemic related uncertainities. Many refineries in the US were kept shut and many of them were running on lower capacities due to weather related challenges. Storms across the gulf region also affected the running status of major production units. Later during December, when demand from the Asian countries and from domestic market started rising, the prices started reporting healthy figure. Manufacturers started cutting production to increase the prices and improve margins. In addition, Shell announced in November the closure of its refinery located in Baton Rouge and New Orleans. This shut will reduce the supply of crude derivatives in upcoming years across the region.

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Services

Market Analysis

Company-wise installed capacity, production volume and plant operating efficiency is captured directly from manufacturers. Import and Export volume is captured from government sources and demand for Heavy Aromatic Naphtha Solvent is calculated considering the production, import, export and inventory-levels on the country and regional level markets.

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Pricing Analysis

The product price is correlated with the price trend of crude oil, demand-supply gap, fluctuations in the feedstock and with the market movement of the downstream sectors.

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Company Profile

Basic details and information on financial performance of leading global players in the Heavy Aromatic Naphtha Solvent market is presented in a visually captivating manner. Expansion plans and the company’s strategy is also captured to understand the vision and mission of the company to help understand the areas where companies need to focus more.

News & Deals

Daily updates on industry-specific and product-specific news, exclusive primary-based news capturing plant shutdowns/outages/closures, capacity expansions, operating rates, insights on demand-supply situation, awarding of technology licenses, new product launch and deals specifying mergers and acquisitions, strategic investments and disinvestments, to help players capitalize on market opportunity.

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Methodology

ChemAnalyst gathers information through primary research surveys conducted with various Heavy Aromatic Naphtha solvent manufacturers, spread across the domestic and international market, suppliers and dealers/distributors to gain insights into value-chains and demand-supply scenario to assess the market situation. Thorough study of company’s annual reports and secondary sources such as exhaustive search on credible paid databases, including our internal database is done to verify the information. All the collected information is analyzed, evaluated and presented in chronological order to depict a meaningful and clear picture of the concerned market.

Our dedicated team of industry experts comprehensively monitors and analyzes various aspects of the Global Heavy Aromatic Naphtha solvent market. The team analyzes various industrial segments, strategic viewpoints and provides an analysis of the industry’s performance in the long run. This would enable our clients in efficiently plan their future investments, mitigate risk, understand the cost dynamics and strike out a balance amidst market volatility.

Critical examination of the impact of COVID-19 pandemic on the global supply chains and shift in demand patterns with change in buying behavior of consumers across the globe.

Several ongoing development projects across industries are tracked, followed by the details of major projects in the development stage, which can positively or negatively influence Global Heavy Aromatic Naphtha solvent market.

Pricing is captured through exhaustive primary interviews with domestic and international manufacturers, traders and importers and customers on monthly and yearly basis.

Finally, region-specific markets for Heavy Aromatic Naphtha solvent are analyzed and region-wise demand pattern is tracked.

About

Heavy Aromatic Naphtha solvent is a complex mixture of hydrocarbons. It is produced during the distillation of Crude oil. This product has many synonyms like High Flash Aromatic Naphtha, Solvent Naphtha (Petroleum), wash oil, Garosol 200 etc. Despite of its high complexity it has a wide range of uses, like it is used as lubricant, grease, Motor oil lubricants, as a liquid in hydraulic breaks. Apart from lubrications it also has applications in making waxes, polishes, coatings etc. In addition, it can also be used as an anti-freeze, as a cooling liquid, in electric heaters etc. Some of other applications include- as processing aids for both indoor and outdoor processes. Despite of its wide applications, it is very hazardous in nature, it can be proved fatal if consumed, it is highly toxic and very dangerous for aquatic life also. Fumes can cause eyes irritation and skin irritation and can cause long term bad effect on repeated exposures.

Product Specific Details

CAS No: 8030-30-6; HS Code: 27101222; Grades: Classified on the basis of boiling points-Low, medium and high BP; Packaging Size: Drum; Import Terms: CFR, FOB, Ex-Work, Bulk Contracted, Spot

Countries Covered:

APAC – China, Japan, India, South Korea, Singapore

Europe – Germany, France, Belgium

America – USA, Brazil

MEA – Saudi Arabia, UAE, South Africa

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Heavy Aromatic Naphtha Solvent Price Trend and Forecast