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.
For the Quarter Ending September 2024
North America
The United States Para Aminophenol market during Q3 2024 demonstrated similar trends to Europe but exhibited distinct characteristics unique to the region. The quarter began with U.S. importers facing significant challenges stemming from global supply chain disruptions coupled with robust domestic demand. Despite initial price declines in China, the U.S. market experienced upward price pressure in July, primarily due to tight inventory levels across major distribution hubs throughout the country.
American buyers grappled with increasingly extended lead times for Chinese shipments, particularly during the Chinese plant maintenance period, leading to heightened spot market activity and price volatility. While the depreciation of the Chinese yuan initially suggested the possibility of more favorable import prices, these potential benefits were quickly offset by soaring freight costs and persistent port congestion issues, especially at major West Coast terminals. The situation became more complex as Chinese domestic prices began to rise later in the quarter, compelling U.S. importers to adopt more aggressive purchasing strategies to secure necessary volumes.
The market faced additional pressure from increased competition with European buyers for limited Chinese export volumes. These factors, in combination with domestic logistical challenges and sustained demand from pharmaceutical manufacturers, contributed to a steady upward price trajectory. This price point reflected the cumulative impact of global supply chain disruptions, regional demand patterns, and the complex interplay of international trade dynamics affecting both European and American markets throughout the quarter.
Asia Pacific
In the third quarter of 2024, the APAC region experienced a notable increase in Para Aminophenol prices, influenced by various market dynamics. Initially, the quarter began on a downturn, particularly in July, when prices in China declined due to a combination of economic, geopolitical, and seasonal factors. The appreciation of the Chinese yuan against the US dollar limited arbitrage opportunities for exporters, resulting in increased domestic supply and diminished global competitiveness. Geopolitical tensions disrupted trade flows and raised freight costs, complicating supply chain logistics. Reduced demand both domestically and internationally led to an oversupply situation, alleviating upward price pressure.
Seasonal factors, including scheduled manufacturing plant shutdowns from late June to July, prompted market participants to expedite inventory liquidation, particularly for heat-sensitive products like Para Aminophenol. Additionally, lower cargo availability and shipment delays compounded the challenges. A decline in raw material costs, particularly for Phenol, significantly impacted the prices of Para Aminophenol, reinforcing the bearish sentiment within the market.
However, prices later surged dramatically due to supply-demand imbalances, geopolitical tensions, and seasonal influences. Scheduled plant shutdowns further affected production levels and contributed to price volatility. Notably, China experienced significant price changes, with an increase in Para Aminophenol prices. The market showed resilience despite economic challenges, as the depreciation of the Chinese yuan against the US dollar enhanced domestic supply and competitiveness. Seasonal factors, including maintenance and limited cargo availability, also played a role in shaping pricing trends. By the end of the quarter, the price of Para Aminophenol reached USD 3,425/MT FOB Shanghai, indicating a sustained upward trend.
Europe
The European Para Aminophenol market witnessed substantial price variations throughout the third quarter of 2024, with market dynamics heavily influenced by its dependence on Chinese imports. As the quarter began in July, European importers adopted a cautious approach to purchasing amid global economic uncertainties.
While the strengthening Euro against the USD initially offered some relief on import costs, this advantage was largely neutralized by escalating freight rates and ongoing logistical challenges in the global supply chain. The European market encountered significant supply constraints when Chinese manufacturing facilities underwent their scheduled shutdowns in July. This disruption led to temporary inventory shortages throughout European distribution networks, triggering sharp increases in spot prices.
The situation was exacerbated by rising energy costs across Europe, which added substantial pressure to local processing and distribution expenses. European buyers found themselves in an increasingly competitive position for Chinese imports, particularly as Chinese domestic prices began to climb. This competitive landscape, combined with extended delivery timeframes and heightened shipping costs, forced many European buyers to accept higher prices to maintain their supply security.
MEA
In Q3 2024, the Para Aminophenol market in the MEA region saw a significant price increase due to various factors. Demand surged from key sectors, particularly pharmaceuticals and retail, leading to a tighter supply-demand balance. This heightened demand was bolstered by elevated procurement activities and low inventory levels, alongside supply chain disruptions caused by plant maintenance shutdowns. Additionally, rising raw material costs and currency fluctuations contributed to the upward price trend.
The United Arab Emirates experienced the most substantial price changes in the region, reflecting an overall positive market outlook. Initially, prices decreased at the beginning of Q3, which, combined with reduced domestic and international demand, resulted in an oversupply situation that alleviated upward price pressure.
Seasonal factors also influenced the market, as manufacturing plants approached scheduled shutdowns from late June to July, prompting market participants to expedite inventory liquidation, particularly for heat-sensitive products like Para Aminophenol. By the end of the quarter, Para Aminophenol prices reached USD 3,610/MT CFR Jebel Ali, marking a consistent upward trajectory, with second-half prices significantly higher than those in the first half.
FAQ’s
• Why did the price of Para Aminophenol increase in Germany in July 2025?
The price rose due to tighter supply from Asian exporters, higher feedstock costs (notably nitrobenzene), and increasing freight and port handling charges. Domestic inventories also declined slightly, further supporting the upward trend.
• What is driving the Para Aminophenol price trend in the US in Q3 2025?
In North America, Para Aminophenol prices remained elevated owing to sustained pharmaceutical sector demand, delays in containerized imports from Asia, and higher domestic production costs linked to energy and compliance overheads.
• Why are Para Aminophenol prices in India showing a steady to bullish trend?
In APAC, particularly India, prices trended higher due to strong domestic consumption, export commitments limiting internal availability, and upward raw material price pressures.
• Is the Para Aminophenol price trend expected to remain firm across regions in August 2025?
Yes, prices are likely to stay firm globally as feedstock inflation, transportation challenges, and healthy downstream demand continue to constrain market flexibility.
• How are supply-demand dynamics influencing Para Aminophenol prices across global regions?
Global supply remains tight due to logistical disruptions and lower output in key producing countries, while steady demand from pharmaceutical and dye sectors in Germany, the US, and India is supporting higher price levels across all three regions.
