For the Quarter Ending September 2025
North America
• In USA, the Para Aminophenol Price Index fell modestly quarter-over-quarter, influenced by softer exports and stable domestic supply.
• Para Aminophenol Spot Price softened as sufficient imports and stable freight reduced landed cost pressure.
• Para Aminophenol Price Forecast indicates modest upside later as restocking gradually offsets the current subdued demand environment.
• Para Aminophenol Production Cost Trend showed slight pressure from phenol feedstock movements and logistics cost changes.
• Para Aminophenol Demand Outlook remains cautious, with steady pharmaceutical offtake offset by weaker cosmetic and specialty chemical procurement.
• Para Aminophenol Price Index volatility was moderate, driven by rising inventories and mildly softer regional export offers.
• Reliable supply from Asian and North American sources preserved market availability, while cautious buying limited immediate price momentum.
Why did the price of Para Aminophenol change in September 2025 in North America?
• Softer export offers from Asian suppliers increased supply, applying downward pressure on prices.
• Stable but elevated freight costs and efficient supply chains reduced urgency to restock, supporting inventory accumulation.
• Downstream demand from pharmaceuticals and cosmetics remained subdued, constraining offtake despite steady manufacturing activity.
APAC
• In China, the Para Aminophenol Price Index fell by 13.05% quarter-over-quarter, reflecting oversupply and weaker export demand.
• The average Para Aminophenol price for the quarter was approximately USD 2720.00/MT, based on FOB Shanghai export assessments.
• Para Aminophenol Spot Price showed volatility as feedstock Phenol and Nitrobenzene cost swings pressured margins.
• Para Aminophenol Price Forecast anticipates modest recovery into autumn supported by seasonal demand and inventory normalization.
• Para Aminophenol Production Cost Trend rose earlier from higher phenol and ammonia, maintaining elevated producer break-even levels.
• Para Aminophenol Demand Outlook remains mixed as steady domestic pharmaceutical demand offsets weaker international buying.
• Inventory builds and competitive Asian offers weighed on the Para Aminophenol Price Index through July and August.
• Plant restarts and holiday-related downtime could tighten supply, influencing near-term Para Aminophenol Price Index movements.
Why did the price of Para Aminophenol change in September 2025 in APAC?
• Feedstock cost declines, particularly phenol, reduced production expenses and pressured export pricing across APAC supply chains.
• Elevated inventories after July surplus increased seller discounting, undermining upward price momentum in September period.
• Weak international demand and trade uncertainty restrained export orders, while domestic pharmaceutical buying provided limited support.
Europe
• In Netherlands, the Para Aminophenol Price Index fell modestly quarter-over-quarter, reflecting softer export activity and steady supply.
• Para Aminophenol Spot Price softened as ample imports and stable freight rates reduced landed cost pressure.
• Para Aminophenol Price Forecast indicates modest upside later in the year as restocking gradually offsets currently subdued demand.
• Para Aminophenol Production Cost Trend showed slight pressure from feedstock movements and logistics cost changes.
• Para Aminophenol Demand Outlook remains cautious, with steady pharmaceutical procurement counterbalanced by weaker cosmetic and specialty chemical offtake.
• Para Aminophenol Price Index volatility was moderate, influenced by rising inventories and mildly softer regional export offers.
• Supply continuity from Asian and European suppliers preserved market availability, while cautious purchasing limited immediate price momentum.
Why did the price of Para Aminophenol change in September 2025 in Europe and the Netherlands?
• Softer export offers from Asia and stable imports increased supply, applying downward pressure on prices.
• Freight stability and efficient supply chains reduced urgency to restock, supporting inventory accumulation.
• Subdued downstream demand from pharmaceuticals and cosmetics constrained offtake despite consistent manufacturing activity.
MEA
• In the United Arab Emirates, the Para Aminophenol Price Index fell by 12.55% quarter-over-quarter, driven by softer exports.
• The average Para Aminophenol price for the quarter was approximately USD 2823.33/MT, per reported trade data.
• Para Aminophenol Spot Price softened as ample imports and stable freight reduced landed cost pressure.
• Para Aminophenol Price Forecast shows modest upside later as restocking offsets current soft demand conditions.
• Para Aminophenol Production Cost Trend pressured slightly by phenol feedstock movements and logistics cost changes.
• Para Aminophenol Demand Outlook remains cautious with steady pharmaceutical offtake counterbalanced by weak cosmetic procurement.
• Para Aminophenol Price Index showed volatility as inventories rose and export offers mildly softened regionally.
• Supply continuity from Asian suppliers preserved availability while cautious buying constrained immediate price momentum further.
Why did the price of Para Aminophenol change in September 2025 in MEA?
• Softer export offers from China lowered costs, prompting weaker procurement and downward pressure on prices.
• Stabilizing but elevated freight and efficient supply chains reduced urgency to restock, supporting inventory accumulation.
• Downstream demand remained subdued from pharmaceuticals and cosmetics, constraining offtake despite improved manufacturing activity recently.
For the Quarter Ending June 2025
North America
• In July 2025, Para Aminophenol prices in the US market experienced an upward trend, mirroring the firm pricing observed in Asia, driven by higher offshore procurement costs and consistent downstream demand.
• Spot Price assessments for CFR New York remained elevated as exporters from Asia, particularly China, increased their FOB quotations, impacting landed costs for US importers.
• The Price Index indicated an increase in July as suppliers adjusted offers upward due to firm global cost pressures and tighter export availability.
• Production Cost Trend also showed a rise in July, driven by higher costs of intermediates such as nitrobenzene and hydrogenation catalysts, combined with persistently strong energy prices in Asia.
• Demand Outlook remained robust in the US, supported by steady procurement from the pharmaceutical and dye manufacturing sectors. Distributors reported stable offtake, while formulators looked to replenish stocks ahead of Q3 production cycles.
• The upward price movement in July was primarily attributed to firm offshore export offers, rising freight costs, and tight inventory levels amid lean import arrivals.
• Inventory levels in July remained constrained due to slower replenishment cycles and cautious order pacing from overseas suppliers, pushing buyers to accept higher spot rates.
• Supply-demand dynamics stayed tight as import arrivals from Asia were delayed, and US-based stockists prioritized allocation to high-volume consumers.
• Regional cues such as moderate expansion in US manufacturing PMI and sustained input cost inflation supported the price uptrend during July 2025.
• Why did the price change in July 2025?
• The Para Aminophenol price in the US increased due to elevated export offers from Asian suppliers, higher global input costs, and tight regional inventory levels driven by cautious offshore shipments.
Europe
• In July 2025, Para Aminophenol prices in Germany increased, following the upward pricing trend seen in the US, as tight international supply and elevated production costs exerted upward pressure across the European market.
• The Price Index for Para Aminophenol in Europe reflected a noticeable rise as local importers faced higher cost burdens from Asian-origin cargoes and sluggish intra-regional availability.
• Spot Price levels rose in Germany as suppliers adjusted quotations upward in response to stronger offshore procurement costs and rising feedstock valuations, particularly for nitrobenzene.
• The Production Cost Trend remained firm throughout July due to persistently high raw material prices in global markets and increased freight expenses impacting landed costs into European ports.
• Demand Outlook remained steady in Germany, with consistent inquiries from the pharmaceutical, dyes, and fine chemicals sectors, prompting traders to secure higher-priced volumes to avoid supply disruptions.
• The price change in July 2025 was primarily driven by tightened supply conditions globally, limited availability from key Asian exporters, and rising feedstock and logistics costs.
• Inventory levels in Germany were moderate but began tightening in the second half of the month due to delayed incoming shipments and cautious stock release by domestic distributors.
• Supply-demand dynamics in the German market were slightly imbalanced as demand stayed firm while replenishment cycles were slower due to logistical hurdles and longer lead times from Asia.
• Regional cues, including the rise in European chemical producer input prices and higher port handling costs, contributed to the bullish pricing sentiment during July.
• Why did the price change in July 2025?
• Para Aminophenol prices in Germany rose due to constrained global supply, rising production and freight costs, and steady downstream demand that limited the scope for price negotiation.
APAC
• In APAC (China), the Price Index for Para Aminophenol increased in July 2025, extending the firming trend observed since May due to persistent supply limitations and cost-led price support.
• The Spot Price of Para Aminophenol FOB Shanghai rose to USD 3,145/MT in July, reflecting constrained inventories, strong offtake from downstream pharmaceutical and personal care sectors, and higher feedstock values.
• Why did the price of Para Aminophenol change in July 2025?
• The price increase was primarily driven by higher production costs linked to Nitrobenzene and Phenol, export-oriented supply tightening, and firm restocking demand across APAC and Western Europe.
• The Production Cost Trend for Para Aminophenol remained bullish in July due to rising feedstock prices, increased freight costs, and summer energy rate hikes impacting operating expenses for Chinese manufacturers.
• The Demand Outlook for Para Aminophenol remained strong, supported by consistent purchasing from end-users in pharmaceuticals and intermediates, along with restocking activity ahead of potential August shipping delays.
• The Price Forecast for Para Aminophenol in August 2025 suggests continued firmness, underpinned by low inventories, elevated input costs, and sustained overseas demand from Southeast Asia and the EU.
• Inventory levels of Para Aminophenol in China remained tight in July, with manufacturers prioritizing higher-margin export orders over local supply, limiting spot availability for immediate domestic delivery.
• Supply-demand dynamics were tilted toward a sellers’ market in July, as procurement activities were brisk while output remained constrained due to raw material availability and production run limitations.
• Regional cues such as robust inquiries from Vietnam and Indonesia, combined with ongoing logistical congestion in northern Chinese ports, further supported the upward pricing movement.
• Despite high freight costs, market participants in APAC continued to secure volumes of Para Aminophenol aggressively, contributing to the overall bullish tone across the region in July 2025.
MEA
• The Price Index for Para Aminophenol in the UAE showed a noticeable increase in July 2025, extending the upward trend observed in June.
• The Spot Price for Para Aminophenol CFR Jebel Ali stood at USD 3240 per MT by the end of June, and prices increased further in July due to firm import costs and tight market conditions.
• The Price Forecast for August 2025 indicates further upward movement, driven by persistent strength in Chinese export offers and continued freight disruptions across key maritime routes. Market players anticipate sustained firm pricing through the coming month as buyers remain active despite high input costs.
• The Production Cost Trend remained elevated in July as upstream prices in China held strong, particularly for raw materials like nitrobenzene and hydrogen. These elevated feedstock prices, along with higher energy costs in Asia, translated into increased export quotations, raising the landed cost for UAE importers.
• From a Demand Outlook perspective, UAE witnessed steady to firm consumption trends across pharmaceutical and cosmetic sectors in July. End users exhibited consistent procurement to hedge against anticipated price hikes, reinforcing import demand and maintaining low inventory levels in the domestic market.
• Why did the price change in July 2025?
• The upward price trend in July was primarily due to higher Chinese export offers, a firm cost base in producing countries, and limited regional inventories in the UAE. Additionally, prolonged freight delays due to rerouting away from the Red Sea sustained longer lead times, pressuring buyers to secure material at higher prices. Stable demand and strong restocking activity from downstream users added to the overall bullish sentiment.
For the Quarter Ending March 2025
North America
The North American market mirrored the European pricing pattern, showing a stable and steady increase in Para Aminophenol prices across the first quarter of 2025. Early in the quarter, buyers benefited from softened global PAP prices driven by oversupply conditions in China and cautious sentiment among exporters. However, this short-lived window of affordability closed as February approached.
Import prices into the U.S. and Canada began to climb steadily in February, driven by tightening supply from Asia following the Lunar New Year shutdown and a rebound in pharmaceutical demand within China. North American importers, many of whom rely on China and India for bulk procurement, saw increased lead times and reduced availability, pushing up spot market offers. Further compounding the price rise was a spike in energy and input costs globally, which impacted the cost structures of upstream producers in Asia.
By March, the situation was exacerbated by continued logistical bottlenecks and rising freight rates, along with limited re-export availability from intermediary hubs such as the UAE, which itself had experienced inventory drawdowns and a March price correction. Despite relatively stable domestic demand conditions in North America, import cost inflation and global supply-side disruptions ensured that PAP prices moved upward throughout Q1 2025.
Asia Pacific
In Q1 2025, the pricing trend for Para Aminophenol in China showed a significant shift from early-quarter weakness to a strong upward momentum by the end of March. January began with sluggish demand, high inventory levels, and cautious buying activity, particularly from the pharmaceutical, healthcare, and food sectors. Surplus supply and subdued market confidence, amplified by concerns over potential U.S. tariffs and ongoing deflationary pressures, led to a downward pricing trend.
However, the market dynamics changed notably in February. The Lunar New Year holiday caused temporary factory closures, creating a short-term supply gap. As operations resumed post-holiday, demand from the pharmaceutical sector rebounded strongly, while global export activity increased, tightening domestic supply. Additionally, rising energy costs pushed up production expenses, further supporting the price increase.
By March, the market experienced continued price growth due to the depletion of pre-holiday inventories, higher input costs, and logistical challenges such as port congestion. Export orders remained strong, diverting volumes from the domestic market, while domestic demand surged in the recovering food processing and pharmaceutical industries. The manufacturing PMI improved to 50.5, reflecting stronger industrial activity and order volumes. Overall, Q1 2025 marked a clear transition from oversupply and weak sentiment to a tightening market with rising prices, driven by seasonal disruptions, improved demand, and constrained supply conditions.
Europe
In the first quarter of 2025, the European market for Para Aminophenol (PAP) witnessed a gradual and stable upward trajectory in prices, primarily driven by supply-side constraints and rising import costs from major exporting countries in Asia. During January, European buyers capitalized on relatively favorable prices resulting from oversupply and weak demand in the Chinese market. However, the region’s dependence on imports from Asia meant that price movements in China directly influenced local trends.
As February unfolded, the temporary factory shutdowns in China due to the Lunar New Year, coupled with a rebound in Chinese domestic demand and tighter export availability, began exerting upward pressure on European import prices. This was further aggravated by increased production costs in Asia and elevated freight charges. Pharmaceutical and healthcare manufacturers in Europe, reliant on stable PAP supplies for paracetamol and other formulations, started experiencing cost pass-throughs by mid-quarter.
By March, pricing momentum further strengthened due to a tightening of global supply chains, notably caused by port congestion in China and a continued shift in focus by Asian suppliers toward fulfilling robust export orders in more profitable markets. Additionally, input cost inflation and rising energy prices in the upstream market amplified cost burdens on European importers. As a result, despite some resistance from downstream sectors facing moderate demand growth, PAP prices in Europe closed Q1 2025 on a firmer note, following a consistent month-over-month increase.
MEA
In the first quarter of 2025, Para Aminophenol (PAP) prices in the UAE demonstrated a fluctuating trend, beginning with notable increases in January and February, followed by a moderate decline in March. In January, prices surged as pharmaceutical manufacturers and industrial buyers ramped up procurement ahead of the Lunar New Year in Asia, aiming to avoid potential disruptions. Despite heightened purchasing activity, stable production from key Asian suppliers and sufficient domestic inventories helped prevent excessive volatility.
The UAE’s role as a strategic re-export hub further supported the strong demand observed during the month. The upward momentum continued into February, driven by increased import costs from India and China due to rising phenol and energy prices. Elevated freight charges and shipping delays further intensified the cost burden on the UAE market. Strong demand from the pharmaceutical sector, particularly for paracetamol production, sustained price growth.
However, the trend shifted in March as the market faced softening prices amid ample inventories and subdued downstream consumption. Lower freight rates and easing inflationary pressures, with Dubai’s Consumer Price Index declining to 2.8%, contributed to price stability and buyer caution. Overall, the UAE PAP market in Q1 2025 followed an inverted-V pattern. While demand fundamentals remained robust, the market correction in March reflected buyers’ preference to draw down inventories amid economic uncertainty. Prices remained sensitive to global cost trends and regional consumption patterns.
For the Quarter Ending December 2024
North America
The U.S. Para Aminophenol market saw a significant decline in prices throughout Q4 2024, but signs of recovery emerged by December. In Q4 2024, the U.S. Para Aminophenol market faced considerable price drops, primarily due to oversupply, low demand, and aggressive pricing strategies from suppliers. With raw material costs remaining stable and production costs dropping, manufacturers were able to push prices lower. External disruptions, including hurricanes and port strikes, added further downward pressure, while cautious purchasing behavior from end-users dominated the market.
By November, the market’s decline was further fueled by reduced inventories, lower export prices, and holiday-driven discounts from suppliers. However, supply chain improvements—such as better inventory control and increased port activity—helped bring some stability. Despite a modest rebound in Manufacturing PMI, the index still indicated weak manufacturing activity.
In December, the market shifted direction with rising prices, driven by tightening supply chains, higher production costs, and businesses preparing for the holiday season. Concerns over potential trade tariffs on Chinese imports led to preemptive inventory actions, though political uncertainty caused the Manufacturing PMI to fall to 49.4, signaling continued hesitation in business confidence.
Asia Pacific
The Para Aminophenol market in Q4 2024 displayed a predominantly bearish trend, with supply-demand imbalances and geopolitical factors dominating price dynamics. In October, prices spiked due to tight supply, logistical disruptions from typhoon-induced port delays, and robust demand, particularly from the pharmaceutical sector. Low inventories and heightened procurement activity ahead of the festive and winter seasons solidified the price hike. However, November saw a modest decline as manufacturers reduced inventories before the holidays, creating an advantageous scenario for buyers. Despite the price drop, demand remained strong, stabilizing market activity.
By December, geopolitical factors like tariff threats and Chinese currency manipulation exacerbated market weakness. Aggressive destocking and persistently high inventory levels turned the Para Aminophenol market into a buyer’s haven, with price pressures expected to persist until demand improves or production scales down.
Meanwhile, the Chinese Nitrobenzene market remained oversupplied, affected by sluggish MDI demand, weak construction activity, and declining automotive sales. Producers curtailed output to manage stocks, while moderate export demand offered limited relief. A slight market recovery is anticipated in early 2025, driven by pre-Lunar New Year stocking and potential benzene tightening.
Europe
The overall trend in Germany's Paracetamol market for Q4 2024 was marked by significant volatility, shifting from a bearish to a bullish phase as the quarter progressed. October and November saw weak demand, lower production costs, and oversupply, resulting in price discounts to clear excess inventories. Importers took a cautious approach due to financial constraints, while competitive freight rates and a stronger euro added downward pressure. A stagnant PMI of 43 reflected subdued industrial activity.
However, in December, tight supply conditions, rising raw material costs, and logistics disruptions reversed the price decline. With inflation at 2.6%, German buyers faced increased procurement costs, despite weak downstream demand. Inventory reductions and supply constraints led to a price increase, ending the quarter at USD 3,450/MT CFR Hamburg. The average quarterly decline was 1.79%.
This shift highlights ongoing supply chain challenges and the need for strategic procurement amid inflationary pressures and market volatility. The market's resilience underscores the complexity of navigating these disruptions in a competitive environment.
MEA
Overall Trend in Q4 2024: The Para Aminophenol market in the UAE experienced a pronounced bearish trend throughout the quarter, marked by declining prices and weak demand. In Q4 2024, the UAE Para Aminophenol market saw consistent price drops due to oversupply, weak downstream demand, and intensified competition from Asian imports. Despite an initial surge in demand driven by seasonal inventory replenishment in October, the trend shifted as November and December brought sluggish business activity, reduced demand, and lower production costs.
Elevated inventories across the UAE and exporting regions exacerbated the price decline, forcing manufacturers to adopt aggressive destocking strategies and offer significant discounts. Stable production levels, coupled with weak demand from key sectors such as pharmaceuticals, food, and cleaning products, created a challenging market environment. Domestic suppliers and traders faced intensified competition, while buyer enthusiasm remained subdued due to ample supply and high port inventories.
By December, pessimism dominated the market, with limited trading activity and downward price adjustments reflecting ongoing challenges. Overall, Q4 highlighted persistent oversupply, competitive pressures, and a lackluster demand outlook, reinforcing the bearish sentiment in the UAE market.
