For the Quarter Ending June 2025
North America
• The MIPA Price Index in the U.S. declined by 1.0% quarter-on-quarter in Q2 2025, reaching USD 1610/MT FOB Houston, indicating slight downward movement in an otherwise balanced market.
• Why did the price change in July 2025? The decline was driven by stable production and high inventory levels, which slightly outweighed steady agrochemical and pharmaceutical demand.
• The MIPA Production Cost Trend was mixed as reflected by declining ammonia prices, easing upstream cost burden, while isopropanol (IPA) prices increased, narrowing producer margins.
• Domestic supply remained uninterrupted due to well-scheduled plant operations and consistent access to feedstocks, with no significant outages reported.
• The MIPA Demand Outlook remained stable to firm, supported by robust agrochemical offtake amid increased corn acreage and sustained pharmaceutical usage in respiratory formulations.
• The MIPA Price Forecast suggests pricing may remain flat to mildly bullish if input costs rise or regulatory tightening impacts formulation activity.
Europe
• The MIPA Price Index in Europe (Turkey as proxy) slipped 0.4% quarter-on-quarter in Q2 2025, assessed at USD 1250/MT CFR Haydarpasa, marking a modest correction after strong imports.
• Why did the price change in July 2025? The marginal decline was due to steady cost-effective imports from China meeting a stable demand base, keeping the market well-balanced.
• The MIPA Production Cost Trend remained favourable for exporters, driven by declines in ammonia and IPA prices, which allowed for competitive Asian cargoes.
• Supply flows to Turkey remained consistent, with no major port disruptions or inventory pressure reported during the quarter.
• The MIPA Demand Outlook showed slight positivity. Agrochemical blending increased for summer crops, while pharmaceutical consumption remained consistent in the generics segment.
• The MIPA Price Forecast remains stable unless energy cost fluctuations or logistics issues disrupt inbound flows.
Asia-Pacific (APAC)
• The MIPA Price Index in China declined by 5.3% quarter-on-quarter in Q2 2025, reaching USD 1050/MT FOB Shanghai, driven by aggressive cost reductions, and balanced domestic consumption.
• Why did the price change in July 2025? Prices fell due to declining feedstock costs, elevated domestic production, and softening overseas demand amid trade tensions.
• The MIPA Production Cost Trend sharply decreased, with both ammonia and IPA prices falling significantly, improving supplier margins, and encouraging competitive offers.
• Manufacturers operated at high capacity, with uninterrupted production and sufficient raw material access, contributing to a cost-efficient and well-supplied market.
• The MIPA Demand Outlook was mixed as the agrochemical sector demand surged on the back of glyphosate output jump, while pharmaceutical demand stayed cautious due to geopolitical uncertainty and cautious procurement strategies by CMOs.
• The MIPA Price Forecast suggests stability in Q3 unless glyphosate exports accelerate sharply, or global trade negotiations shift sentiment significantly.
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.
Frequently Asked Questions (FAQs)
What is the current MIPA Price Index in China?
As of Q2 2025, MIPA was priced at USD 1050/MT FOB Shanghai, marking a 5.3% quarter-on-quarter decline.
Who are the top MIPA producers in the United States?
Leading producers include Dow Chemical, Huntsman, and BASF North America, with integrated supply chains and broad downstream networks.
Why did MIPA prices fall in China during Q2 2025?
A combination of high run rates, low feedstock costs, and moderate export interest led to excess supply and pressured pricing.
What is the MIPA Price Forecast for North America?
MIPA prices in the U.S. are expected to remain flat to slightly firm in Q3, supported by balanced demand and feedstock-driven cost adjustments.
