For the Quarter Ending March 2026
M-Cresol Prices in North America
- In United States, the M-Cresol Price Index rose quarter-over-quarter in Q1 2026, driven by surging toluene feedstock costs.
- The M-Cresol Production Cost Trend increased significantly in March 2026 as producer prices rose 4.0% year-over-year.
- Consumer prices increased 3.3% year-over-year in March 2026, reflecting elevated energy markets that pushed toluene feedstock upward.
- The M-Cresol Demand Outlook strengthened in March 2026, supported by 4.0% retail sales growth and 4.3% unemployment.
- Industrial production grew 0.7% year-over-year in March 2026, aligning with expanded agrochemical demand observed in February 2026.
- The Manufacturing Index expanded in March 2026, mirroring increased construction sector demand for derivatives in February 2026.
- The M-Cresol Price Forecast trended upward in March 2026 as consumer confidence reached 91.8, sustaining downstream consumption.
- Regional supply tightened in Q1 2026 due to maintenance outages and higher freight costs from import dependency.
Why did the price of M-Cresol change in March 2026 in North America?
- Toluene feedstock costs surged in March 2026 due to severe crude oil market supply disruptions.
- Regional supply conditions tightened in Q1 2026 amid planned maintenance outages at key manufacturing facilities.
- Import dependency exposed the domestic market to higher freight and insurance costs in Q1 2026.
M-Cresol Prices in APAC
- In China, the M-Cresol Price Index rose quarter-over-quarter in Q1 2026, driven by surging toluene feedstock costs.
- The M-Cresol Production Cost Trend increased in March 2026 as the Producer Price Index rose 0.5%.
- The M-Cresol Demand Outlook strengthened in March 2026 because national industrial production grew by 5.7% year-over-year.
- Consumer-driven M-Cresol demand softened in March 2026 as national retail sales grew only 1.7% and CPI increased 1.0%.
- M-Cresol demand declined in March 2026 due to a 5.4% unemployment rate and 91.6 consumer confidence index in February 2026.
- The Manufacturing Index expanded in March 2026, which supported M-Cresol consumption in heavy industrial applications.
- Downstream Vitamin E production stabilized in Q1 2026, maintaining consistent baseline consumption for the M-Cresol Price Index.
- The M-Cresol Price Forecast remained elevated in March 2026 after global crude oil and toluene costs surged.
Why did the price of M-Cresol change in March 2026 in APAC?
- Toluene feedstock costs surged in March 2026 due to escalating global crude oil market prices.
- Regional feedstock supply tightened significantly in March 2026 because unexpected plant turnarounds restricted material availability.
- The Producer Price Index rose 0.5% in March 2026, exerting cost-push inflationary pressure on production.
M-Cresol Prices in Europe
- In Germany, the M-Cresol Price Index rose quarter-over-quarter in Q1 2026, driven by surging toluene feedstock costs.
- Consumer inflation reached 2.7% while producer prices declined 0.2% in March 2026, creating mixed M-Cresol cost pressures.
- The Manufacturing Index expanded in March 2026, though industrial production remained stagnant at 0.0% in February 2026.
- Despite 0.7% retail sales growth and 4.2% unemployment in February 2026, March 2026 consumer confidence reached -24.7.
- M-Cresol demand outlook weakened as passenger car registrations dropped in January 2026, impacting automotive resin consumption.
- M-Cresol production cost trend escalated as toluene feedstock costs surged amid supply tightening in March 2026.
- Lower-priced downstream Vitamin E imports from Asia surged into the European market during Q1 2026.
- The M-Cresol price forecast reflected sustained cost-push pressure from volatile crude and naphtha markets throughout Q1 2026.
Why did the price of M-Cresol change in March 2026 in Europe?
- Toluene feedstock costs surged during March 2026 due to upstream logistical disruptions and refinery caution.
- Energy production declined in early Q1 2026, adding inflationary pressure to chemical manufacturing operational costs.
- Vitamin E inventories accumulated heavily in Q1 2026, creating regional oversupply and dampening M-Cresol demand.
For the Quarter Ending December 2025
M-Cresol Prices in North America
- In United States, the M-Cresol Price Index rose quarter-over-quarter in Q4 2025, driven by rising production costs and sustained demand.
- M-Cresol production costs increased, with the Producer Price Index rising 3.0% year-over-year in November 2025.
- Overall input costs climbed, as the Consumer Price Index increased 2.7% year-over-year in December 2025.
- M-Cresol demand was supported by a 2.0% year-over-year rise in industrial production in December 2025.
- Toluene feedstock prices in North America rose at the start of Q4 2025 (October) due to strong demand and tight supply.
- Refinery activity declined in October 2025, impacting aromatic feedstock availability and tightening toluene supply.
- Manufacturing output contracted in October 2025, then was flat in November 2025, indicating uneven industrial demand.
- Retail sales increased 3.3% year-over-year in November 2025, boosting M-Cresol demand in consumer-facing sectors.
Why did the price of M-Cresol change in December 2025 in North America?
- Rising input costs, evidenced by the Consumer Price Index increasing 2.7% year-over-year in December 2025.
- Increased industrial activity, with industrial production rising 2.0% year-over-year in December 2025.
- Toluene feedstock prices rose in October 2025, influenced by reduced refinery activity in Q4 2025.
M-Cresol Prices in APAC
- In China, the M-Cresol Price Index fell quarter-over-quarter in Q4 2025, influenced by weak industrial demand.
- M-Cresol production costs declined in Q4 2025, as organic chemical prices significantly decreased in December 2025.
- M-Cresol demand outlook was mixed; manufacturing expanded in December 2025, but consumer confidence cooled in Q4 2025.
- China's Industrial Production rose 5.2% year-over-year in December 2025, supporting M-Cresol demand in industrial applications.
- The Manufacturing Index expanded in December 2025, indicating sector growth and increased demand for M-Cresol.
- Consumer Price Index (CPI) rose 0.8% year-over-year in December 2025, reflecting weak consumer demand for M-Cresol end products.
- Producer Price Index (PPI) declined 1.9% year-over-year in December 2025, indicating deflationary pressure on M-Cresol derivatives.
- New Energy Vehicle production sustained robust growth in December 2025, a positive demand driver for M-Cresol.
Why did the price of M-Cresol change in December 2025 in APAC?
- M-Cresol prices declined due to a 1.9% year-over-year fall in PPI in December 2025, reflecting weak industrial demand.
- Overall chemical product prices plummeted in Q4 2025, directly reducing M-Cresol production costs.
- Weak retail sales, up 0.9% year-over-year in December 2025, contributed to subdued M-Cresol demand in consumer sectors.
M-Cresol Prices in Europe
- In Germany, the M-Cresol Price Index fell quarter-over-quarter in Q4 2025, influenced by declining producer prices in December 2025.
- M-Cresol production costs declined in December 2025, primarily due to falling naphtha feedstock costs.
- M-Cresol demand outlook was challenged by 0.0% industrial production growth in October 2025.
- Consumer confidence declined to -12.0 in December 2025, dampening M-Cresol demand in consumer-driven applications.
- The chemical industry's business sentiment and price plans fell sharply in October 2025.
- Order backlogs in the chemical industry plummeted to a multi-decade low in October 2025.
- Exports remained robust in October 2025, while overall import prices declined year-on-year in December 2025.
- Automotive sector activity strengthened in November 2025, offering some support for M-Cresol demand.
- Retail sales increased by 1.8% in December 2025, indirectly supporting M-Cresol demand in related end-uses.
Why did the price of M-Cresol change in December 2025 in Europe?
- Producer prices declined by -2.5% year-on-year in December 2025, reducing M-Cresol pricing pressure.
- Naphtha feedstock costs declined in December 2025, contributing to lower M-Cresol production expenses.
- Consumer confidence fell to -12.0 in December 2025, dampening M-Cresol demand in consumer-driven sectors.
For the Quarter Ending September 2025
M-Cresol Prices in North America
- In United States, the M-Cresol Price Index rose quarter-over-quarter in Q3 2025, driven by increased production costs and tightening feedstock.
- M-Cresol production costs increased in Q3 2025, influenced by rising crude oil, naphtha values, and higher input costs.
- Industrial production grew minimally at 0.1% in September 2025, dampening M-Cresol demand in industrial applications.
- Consumer confidence declined to 94.2 in September 2025, with 4.3% unemployment, reducing M-Cresol demand.
- Retail sales increased 5.42% in September 2025, offering support for M-Cresol demand in consumer-driven end-uses.
- Toluene supply tightened in Q3 2025 due to refinery constraints, strong gasoline blending demand, and lean inventories.
- Proposed US tariffs of 25% on imports from Japan and South Korea, effective August 1, 2025, influenced aromatics trade.
- The M-Cresol Price Index reflected upward pressure in Q3 2025, with continued firmness indicated by supply and cost trends.
Why did the price of M-Cresol change in September 2025 in North America?
- Production costs rose from stronger crude oil and naphtha values in Q3 2025.
- Toluene supply tightened due to refinery constraints and increased gasoline blending.
- Consumer confidence declined, and industrial production growth remained minimal.
M-Cresol Prices in APAC
- In China, the M-Cresol Price Index fell quarter-over-quarter in Q3 2025, driven by declining producer prices and contracting manufacturing.
- M-Cresol production costs were influenced by the Producer Price Index declining -3.6% in July and -2.9% in August 2025.
- Demand for M-Cresol was subdued as the Manufacturing Index contracted in July and August 2025, indicating reduced manufacturing.
- Industrial production expanded 5.7% in July and 5.2% in August 2025, yet chemical demand remained subdued.
- The M-Cresol price forecast suggests continued downward pressure from global overcapacity and expanding production.
- Petrochemical feedstocks, including benzene, held steady in early Q3 2025, impacting M-Cresol production costs.
- Inventory pressure for MDI and TDI built in China's domestic market in September 2025, reflecting broader market oversupply.
- Retail sales grew 3.7% in July and 3.4% in August 2025, indirectly supporting demand for M-Cresol derivatives.
Why did the price of M-Cresol change in September 2025 in APAC?
- The Producer Price Index declined -2.9% in August 2025, indicating lower raw material costs for M-Cresol.
- The Manufacturing Index contracted in August 2025, signaling reduced industrial activity and chemical demand.
- Global overcapacity and expanding chemical capacity in China contributed to market supply pressure.
M-Cresol Prices in Europe
- In Germany, the M-Cresol Price Index fell quarter-over-quarter in Q3 2025, driven by contracting industrial activity and subdued chemical demand.
- M-Cresol production costs were influenced by easing European spot natural gas prices and declining toluene feedstock costs.
- The M-Cresol demand outlook was bearish due to Germany's industrial production declining 1.0% and subdued European chemical demand.
- The Manufacturing Index contracted in Q3 2025, indicating a slowdown in the broader German manufacturing sector.
- Retail sales rose 0.2% in September 2025, and unemployment was stable at 6.3%, offering mild support for consumer-facing applications.
- Producer prices decreased 1.7% in September 2025 due to lower energy, while CPI rose 2.4%, indicating mixed cost pressures.
- Global crude oil inventories remained tight in Q3 2025, with increased European toluene import volumes from Asia.
- The M-Cresol Price Index is expected to remain stable to slightly decline, reflecting persistent weak demand and some cost relief.
Why did the price of M-Cresol change in September 2025 in Europe?
- Industrial production in Germany declined 1.0% in September 2025, reducing M-Cresol demand.
- Producer prices decreased 1.7% in September 2025, driven by lower energy costs for M-Cresol production.
- The Manufacturing Index contracted in Q3 2025, signaling weaker overall demand for chemical intermediates.
