For the Quarter Ending September 2025
North America
• In United States, the Ketoconazole Price Index rose quarter-over-quarter in Q3 2025, driven by increasing production costs and supply constraints.
• Ketoconazole production costs increased in Q3 2025, influenced by a 2.6% year-over-year PPI rise in August 2025.
• General inflation, with CPI up 3.0% year-over-year in September 2025, raised operational costs for manufacturers.
• Pharmaceutical sector demand for Ketoconazole experienced a resurgence in Q3 2025.
• Energy costs, including Henry Hub natural gas and industrial electricity, rose in September 2025, increasing manufacturing expenses.
• US chemical production declined in Q3 2025, exacerbated by 0.1% year-over-year industrial production growth.
• Manufacturers' inventories contracted in Q3 2025 due to accelerating destocking, affecting Ketoconazole availability.
• Strong retail sales, up 5.42% year-over-year in September 2025, supported demand for over-the-counter Ketoconazole products.
• Consumer confidence declined to 94.2 in September 2025, tempering discretionary spending on health products.
Why did the price of Ketoconazole change in September 2025 in North America?
• Rising production costs, evidenced by a 2.6% PPI increase in August 2025, directly impacted Ketoconazole pricing.
• Supply constraints from declining US chemical production and contracting inventories tightened Ketoconazole availability.
• Increased energy costs in September 2025, alongside a 3.0% CPI rise, elevated manufacturing and operational expenses.
APAC
• In China, the Ketoconazole Price Index remained stable quarter-over-quarter in Q3 2025, despite a -0.3% CPI YoY in September 2025.
• Ketoconazole production costs trended lower in Q3 2025, supported by a -2.3% PPI YoY in September 2025.
• Demand for over-the-counter Ketoconazole was supported by 3.0% retail sales growth in September 2025.
• China's pharmaceutical market demand strengthened in Q3 2025, driven by rising healthcare needs.
• Raw material inventories for manufacturing declined in July and August 2025, tightening supply.
• A contracting Manufacturing Index in September 2025 indicated a slowdown in overall economic activity.
• Industrial production increased by 6.5% year-on-year in September 2025, supporting economic stability.
• The Ketoconazole Price Forecast suggests stability, balancing lower production costs against trade tensions.
Why did the price of Ketoconazole change in September 2025 in APAC?
• Production costs decreased in Q3 2025, driven by declining natural gas prices and a -2.3% PPI YoY.
• Retail sales grew 3.0% in September 2025, supporting demand for over-the-counter Ketoconazole products.
• New US tariffs on pharmaceutical imports from August 2025 influenced trade dynamics and import costs.
Europe
• In Germany, the Ketoconazole Price Index remained stable quarter-over-quarter, influenced by mixed macroeconomic signals in Q3 2025.
• Ketoconazole production costs faced upward pressure from elevated natural gas and overall raw material costs throughout Q3 2025.
• The Producer Price Index declined 1.7% year-over-year in September 2025, slightly easing overall manufacturing expenses.
• Demand for Ketoconazole was supported by a surge in German pharmaceutical production in July 2025 and European market expansion.
• The Consumer Price Index rose 2.4% year-over-year in September 2025, indicating inflationary pressures impacting consumer purchasing power.
• The Manufacturing Index showed a contracting trend in September 2025, signaling a slowdown in the broader German manufacturing sector.
• Industrial production contracted 1.0% year-over-year in September 2025, reflecting weaker industrial demand for chemical inputs.
• Ketoconazole price forecast suggests stability, balancing easing producer costs with persistent energy and raw material expenses.
Why did the price of Ketoconazole change in September 2025 in Europe?
• The Producer Price Index declined 1.7% year-over-year in September 2025, reducing manufacturing input costs.
• Natural gas and overall raw material costs remained elevated in Q3 2025, maintaining upward pressure on production.
• German pharmaceutical production surged in July 2025, boosting demand for Ketoconazole active pharmaceutical ingredient.
For the Quarter Ending December 2022
North America
The market trend for Ketoconazole experienced a fluctuating trajectory in the Fourth quarter of 2022, with CFR Houston values falling from $144850/mt to $144250/mt from Oct to Dec. In the fourth quarter of 2022, there were fluctuations in the North American Ketoconazole market.
Prices began to climb in Q4 2022 and continued to do so throughout the second month of the fourth quarter due to high manufacturing costs, numerous logistical issues, and rising inflation. Additionally contributing to the market's stability were rising transportation costs and port congestion at the major ports.
Additionally, the market benefited from confusion and a halt in API production as a result of higher energy prices. Later in December, prices started to fall as a result of declining inflation and dwindling end-user sector demand as the holiday season drew near.
Asia
The market trend for Ketoconazole in the Asia Pacific region showed a favorable trend in China, where FOB Shanghai values accessed at $ 132250/mt FOB Shanghai. The Asia Pacific region experienced generally unchanged market sentiments for the Ketoconazole API during the fourth quarter of 2022. Due to strong demand from downstream pharmaceutical businesses, prices started to rise steadily at the beginning of the fourth quarter. Zero-covid policies and the installation of lockdowns both had an impact on the market environment. Later, in the second month, the ketoconazole prices got underway. Lower production costs, sufficient stockpiles, and a strong supply caused the Ketoconazole API price trajectory to exhibit a stable trend. The domestic market was also sustained by steady end-user demand.
Europe
The CFR Hamburg negotiations for Ketoconazole API in Germany decreased from $146410/mt to $145820/mt between Oct and Dec 2022, continuing a Stable trend that began in the Fourth quarter. During the fourth quarter of 2022, market sentiment for the Ketoconazole API in the European region remained largely stable. At the beginning of the fourth quarter, prices started to rise steadily as a result of the robust demand from downstream pharmaceutical businesses. The implementation of lockdown and zero-covid policies both had an effect on the European market environment. Later, beginning of the second month, ketoconazole prices started to get stabilized. The Ketoconazole API price trajectory showed a consistent trend due to lower production costs, ample inventories, and a robust supply. Consistent consumer demand also supported the local market.
For the Quarter Ending September 2022
North America
The market trend for Ketoconazole experienced a decreasing trajectory in the third quarter of 2022, with CFR Houston values falling from $143630/mt to $142200/mt from July to September. Ketoconazole was among the Active Pharmaceutical Ingredients (API) whose imports into the US got severely constrained as a result of China's zero-covid policy. Numerous Chinese production facilities were forced to shut down in the second half of Q3 due to the heat wave and a power constraint, which had a negative effect on US commerce. Several industries and economists ascribed the nation's diminishing demand to a number of problems, including inflation, supply shortages, and the nation's exorbitant interest rates.
Asia
The market trend for Ketoconazole in the Asia Pacific region showed a favorable trend in China, where FOB Shanghai values increased from $129730/mt to $130150/mt from July to September. The robust demand from the pharmaceutical end-user business has had an impact on this pricing pattern. Big suppliers put off placing sizable orders because of the second half's slow offtakes and the weak downstream demand, which was impacted by weather and power outages. Several production plants underwent maintenance after the shutdown when the markets reopened in the final week of July. Throughout the second half of the quarter, this had an impact on the product supply from both domestic and foreign suppliers. The market dynamics in China over the last weeks of the quarter have also been badly influenced by extreme weather and economic issues.
Europe
The CFR Hamburg negotiations in Germany decreased from $147340/mt to $144750/mt between July and September 2022, continuing a downward trend that began in the third quarter. The already difficult economic climate in Europe was made even more difficult by the unrest in Russia and Ukraine as well as the lockdown and port restrictions in China (a major supplier). Additionally, this quarter experienced weak demand from the food and feed industries as end-user industry intakes ranged from low to stable.
