For the Quarter Ending March 2025
North America
In Q1 2025, the North American Monoisopropylamine (MIPA) market experienced a largely stable to slightly bearish pricing trajectory, marked by alternating trends across the three months.
January kicked off with a price drop of 1.2% due to logistical challenges from winter storms and industry restructuring, which disrupted supply chains and dampened confidence. Despite these hurdles, the pharmaceutical sector remained a bright spot, buoyed by record investments in drug development. February saw a mild price rebound of 0.6%, driven by stable supply, steady ammonia prices, and strong agrochemical demand spurred by rising crop acreage.
However, escalating trade tensions with China, including reciprocal tariffs on MIPA, introduced uncertainty into export channels. March closed the quarter with another 1.2% price decline, as subdued buying sentiment and proposed pharmaceutical tariffs offset stable domestic supply and agrochemical demand. Compared to Q4 2024, where a modest 0.3% price increase was recorded amid tight supply and regulatory pressure on atrazine, Q1 2025 reflected a more balanced yet cautious market, with external policy shifts and fluctuating sectoral demand shaping overall pricing sentiment.
APAC
In Q1 2025, the Monoisopropylamine (MIPA) market in the APAC region, particularly Indonesia, demonstrated a more optimistic trajectory compared to Q4 2024. Prices shifted from the bearish sentiment of the previous quarter to a broadly stable-to-bullish pattern, with a cumulative increase of around 3%, underpinned by steady pharmaceutical and agrochemical demand. January began with slight gains as Indonesia faced supply uncertainties from China due to the Lunar New Year, although demand held firm. February saw the strongest upward momentum with a 3.4% price jump, driven by rising isopropanol costs and strengthened agricultural and pharmaceutical consumption. By March, prices softened slightly (down 0.8%) amid stable imports and competitive pressures in the herbicide market, though overall demand remained intact.
Compared to Q4 2024, where China led a regional price slump due to off-season agrochemical demand and restrained export appetite, Q1 2025 reflected more robust fundamentals in Indonesia. Resilient pharmaceutical demand and government-backed agrochemical initiatives countered potential supply disruptions. While Q4 2024 struggled with muted demand, Q1 2025 benefitted from seasonal demand recovery and a more balanced supply-demand landscape, supporting modest price stability and cautious optimism going forward.
Europe
In Q1 2025, the Monoisopropylamine (MIPA) market in Turkey, representing the European region, showed signs of gradual recovery and stabilization following a sharp downturn in Q4 2024. The quarter commenced with a bullish trend in January, driven by higher import costs and global trade uncertainties, which elevated prices by 1.6%. Supply constraints from China ahead of the Lunar New Year and Turkey's widening trade deficit further amplified the upward pressure. In February, prices edged up marginally by 0.4%, supported by stable imports from China and India, though rising feedstock costs and intermittent production halts in China briefly strained supply. However, March saw a mild correction, with prices dipping by 0.8% due to softened export offers from China amid high operating rates and easing inventories.
Throughout the quarter, MIPA demand remained steady across pharmaceuticals and agrochemicals, supported by robust domestic drug manufacturing and seasonal agrochemical demand. Compared to Q4 2024, which saw an 11.4% drop due to weak demand and oversupply, Q1 2025 reflected a cautiously optimistic sentiment. Stabilized supply chains, policy support, and improved seasonal demand collectively contributed to a more balanced and less volatile market landscape.
For the Quarter Ending December 2024
North America
In Q4 2024, the Monoisopropylamine (MIPA) market in North America experienced a mixed trend, with a slight quarter-on-quarter increase of 0.3%. The market saw initial downward pressure in October and November due to reduced demand from key downstream sectors, including agriculture and pharmaceuticals.
The agriculture sector faced a decline in demand for MIPA due to the U.S. Environmental Protection Agency’s (EPA) updated mitigation measures for the pesticide atrazine, a key product derived from MIPA. These regulatory changes, aimed at reducing environmental impacts, restricted the production of atrazine, which in turn led to a decrease in MIPA production. However, as the quarter progressed, the market saw some recovery in December, driven by a constrained supply situation.
The supply shortage stemmed from both the reduced production of atrazine and a slight increase in ammonia prices, which put upward pressure on manufacturing costs. Despite moderate demand from the pharmaceutical sector and a sluggish agrochemical market, the limited supply of MIPA exerted upward pressure on prices in December. While demand remained subdued overall, the combination of regulatory impacts and tighter supply led to a slight price increase, ending the quarter with cautious optimism for the future.
APAC
In Q4 2024, the Monoisopropylamine (MIPA) market in the China region of APAC experienced a significant quarter-on-quarter decline of 6.5%, driven primarily by subdued demand from key downstream sectors and steady supply levels. The agrochemical sector, a major consumer of MIPA, saw a sharp drop in demand as the off-season for fertilizer procurement set in and domestic winter reserve demand remained cautious. Export volumes of glyphosate increased due to its low prices, but overseas demand was projected to remain limited in the upcoming months, particularly as North American demand neared its seasonal peak. These factors combined to create a bearish outlook for the agrochemical sector, contributing to weak MIPA demand. The pharmaceutical sector provided a moderate level of support, bolstered by increased foreign investment and policy shifts aimed at fostering innovation and collaboration. However, this was insufficient to offset the overall market decline. Manufacturing and supply levels remained stable, with reduced feedstock costs lowering production expenses. Despite these cost reductions, producers faced challenges in stimulating demand, especially with trading activity slowing ahead of the Lunar New Year. The combination of weak demand, stable supply, and seasonal market dynamics weighed heavily on the MIPA market in China during the quarter.
Europe
In Q4 2024, the Monoisopropylamine (MIPA) market in Turkey, part of the European region, experienced a sharp quarter-on-quarter decline of 11.4%, driven by a combination of subdued domestic demand, external pressures from major exporting countries, and a challenging macroeconomic environment. The Turkish market remained heavily influenced by global market dynamics, particularly from China, the primary supplier of MIPA to Turkey.
Weaker demand and steady production in China created a supply-demand imbalance, leading to oversupply and exerting downward pressure on prices globally, which was reflected in Turkey. Locally, reduced consumption in key downstream sectors, including agrochemicals and pharmaceuticals, further amplified the declining trend.
The agrochemical sector faced lower demand due to the off-season for fertilizers and fluctuations in crop production, while the pharmaceutical sector grappled with slower market activities despite government support and advancements in healthcare infrastructure. Supply chain pressures persisted, with increased freight charges from Asia to Europe adding to the challenges. Although export markets for agrochemical products showed resilience, domestic market activity remained weak. Overall, the Turkish MIPA market struggled to recover amidst subdued demand, oversupply, and interconnected global market conditions.
For the Quarter Ending September 2024
North America
In Q3 2024, Monoisopropylamine (MIPA) prices in North America experienced a notable upward trajectory, driven by various compelling factors. Market dynamics were influenced by increased production costs, supply chain challenges stemming from logistical issues, and heightened demand from the agriculture sector.
These factors collectively contributed to a bullish pricing environment, reflecting a positive trend in the market sentiment. The USA, in particular, witnessed significant price fluctuations, with prices surging by 2% from the previous quarter, showcasing a robust pricing landscape. Seasonal factors, such as the peak hurricane season, further exacerbated supply chain disruptions, putting upward pressure on prices.
Despite these challenges, the market demonstrated resilience, with prices steadily climbing throughout the quarter. Notable disruptions during this period included [Add names of disruptions/plant shutdowns]. The quarter culminated in a price of USD 1673/MT for Monoisopropylamine (MIPA) 70% FOB Houston in the USA, underscoring the prevailing positive pricing trend in the region.
APAC
In Q3 2024, the Monoisopropylamine (MIPA) pricing in the APAC Region witnessed a notable increase, with China experiencing the most significant price fluctuations. Various factors influenced the market prices, including heightened demand in the agrochemical sector and supply chain disruptions due to severe weather events. The surge in production costs, coupled with increased feedstock prices, contributed to the overall bullish market sentiment. Despite facing challenges such as logistical issues and plant shutdowns, the market remained resilient.
China, in particular, saw dynamic price changes, reflecting the volatile nature of the MIPA market. Seasonal trends and correlation in price changes were evident, with the quarter recording a -4% decrease from the previous quarter but a 3% increase between the first and second half of the quarter. This fluctuation showcased the market's responsiveness to external factors. The quarter-ending price of USD 1200/MT of Monoisopropylamine (MIPA) 70% FOB Shanghai in China highlighted the positive pricing environment, emphasizing the ongoing upward trajectory in prices.
Europe
In Q3 2024, the Monoisopropylamine (MIPA) market in Europe experienced several key trends. Prices saw a slight increase due to higher feedstock costs and logistical challenges. The cost-effective production helped maintain stable prices despite international market tensions. The demand for MIPA remained strong, driven by its use in the agrochemical and pharmaceutical industries. The consistent yet cautious demand from these downstream sectors contributed to the overall market stability. The supply chain faced challenges, including disruptions in the supply of upstream raw materials and logistical issues. However, production levels were maintained by key producers in the region. There was an increased focus on environmental regulations, with manufacturers investing in more sustainable production processes to reduce emissions and waste. The market is expected to continue its steady growth, supported by ongoing demand from the agrochemical and pharmaceutical sectors. However, stringent environmental regulations and potential geopolitical tensions may pose challenges to the market's expansion.
For the Quarter Ending June 2024
North America
The second quarter of 2024 has seen a marked surge in the pricing of Monoisopropylamine (MIPA) in North America, driven by several pivotal factors. The most significant contributors to this upward trend have been the escalating costs of key feedstocks, namely Ammonia and Isopropyl Alcohol (IPA). These feedstock price increases have directly influenced the cost structure of MIPA, necessitating higher selling prices to maintain profitability within the market. Additionally, robust demand from downstream sectors such as agrochemicals and pharmaceuticals has exacerbated the price rise. This heightened demand, coupled with constrained supply due to limited production and logistical challenges, has created a tight market environment. Notably, there were no reported plant shutdowns or significant disruptions during the quarter, which suggests that the price increases were primarily demand-driven rather than due to supply bottlenecks.
In the USA, the MIPA market has experienced the most pronounced price changes. The overall trend in the US market has been notably bullish, with a strong correlation between rising feedstock costs and increased MIPA prices. Seasonal factors have also played a role, with the second quarter typically seeing heightened activity in the agricultural sector, further pushing demand. The price change from the previous quarter in 2024 was recorded at 2%, indicating a steady escalation.
As the quarter concluded, the price of Monoisopropylamine (MIPA) 70% FOB Houston in the USA reached USD 1660/MT. Overall, the pricing environment in Q2 2024 has been decidedly positive, reflecting a consistent increase driven by fundamental market forces and robust demand dynamics.
APAC
During the first half of the second quarter, the Monoisopropylamine (MIPA) across the APAC region witnessed bullishness in their market scenario. In the Chinese market, Monoisopropylamine (MIPA) prices have continued their upward trajectory, reflecting the trend seen in key raw materials such as Ammonia and Isopropyl Alcohol (IPA) over the past few months. This anomaly can be attributed to an increase in demand from downstream markets, which continued to drive up MIPA prices irrespective of the lower raw material costs. Manufacturers absorbed some of these increased costs, which prevents them from passing the full extent of these expenses onto end consumers in the form of higher product prices. Simultaneously, in the downstream textile sector, demand for MIPA is significantly exceeding supply. This mismatch between supply and demand is driving the prices of MIPA upward. However, during the second half of the second quarter, the Monoisopropylamine (MIPA) market experienced a steep decline in their trend. Decreased prices of key raw materials such as Ammonia and Isopropyl Alcohol (IPA) have played a crucial role in the price reduction of MIPA. This downward trend was further influenced by macroeconomic factors, including lower industrial activity and subdued demand from major sectors such as agrochemicals and pharmaceuticals. The overall market sentiment remained bearish, as manufacturers engaged in aggressive destocking due to lower-than-expected orders from importing countries, exacerbating the decline in prices. Specifically focusing on China, the market witnessed significant fluctuations. Despite seasonal demand spikes related to agricultural applications, the overall trend for MIPA prices exhibited a marked decline. The correlation between seasonal trends and price changes became evident, as prices fell sharply in the first half of the quarter and continued to decline, recording a 7% decrease by the second half. No major plant disruptions or shutdowns were reported during the quarter, which might have otherwise cushioned the price fall. Compared to the previous quarter of 2024, prices increased by 5%. This quarter concluded with MIPA prices at USD 1150/MT FOB Shanghai, reflecting the ongoing downward pressure in the Chinese market and underscoring a challenging pricing environment for manufacturers and traders.
Europe
During the second quarter of 2024, Monoisopropylamine (MIPA) prices showcased an upward trajectory in comparison with the first quarter of 2024. A significant factor in this price trend is the pharmaceutical industry's robust acquisition of MIPA, which has played a pivotal role in influencing market dynamics. The increased consumption of MIPA in downstream sectors has been spurred by favorable trading conditions provided by merchants, contributing to positive market sentiments. Traders within the regional Turkish market have reported ease in procuring MIPA, further enhancing the overall market outlook and supporting sustained demand. This ease of procurement indicates a well-supplied market, which might be contributing to the downward pressure on prices. Due to low supplies in storage units, trade activities between the Chinese and Turkish markets have seen an uptick. In response to these market conditions, traders have adjusted their ex-quotations by marginally increasing prices to enhance profit margins, particularly with the inclining demand from downstream sectors. Furthermore, terminals in North Europe have faced line-up congestion due to adverse weather conditions, port closures during holidays, and scheduling conflicts between services. Despite these challenges, key ports like Bremerhaven and Rotterdam have maintained healthy yard density and operational efficiency, ensuring smooth operations amidst logistical hurdles. This fluctuating export landscape has contributed to the increased need for MIPA, leading to higher prices for this chemical crucial in various textile processing applications. The price change from the previous quarter in 2024 was recorded at 11%, indicating a steady escalation. As the quarter concluded, the price of Monoisopropylamine (MIPA) 70% CFR Haydarpasa in Turkey reached USD 1455/MT. Overall, the pricing environment in Q2 2024 has been decidedly positive, reflecting a consistent increase driven by fundamental market forces and robust demand dynamics.
