For the Quarter Ending September 2025
North America
• In the USA, the Para-Phenylene Diamine Price Index fell by 11.24% quarter-over-quarter, driven by imports.
• The average Para-Phenylene Diamine price for the quarter was approximately USD 2316.67/MT on CFR-Texas basis.
• Para-Phenylene Diamine Spot Price stayed weak as Asian exporters lowered offers and freight eased further.
• Para-Phenylene Diamine Price Forecast signals modest declines as destocking continues, and downstream buying remains cautious.
• Para-Phenylene Diamine Production Cost Trend softened with volatile aniline and nitrobenzene reducing manufacturer margins further.
• Para-Phenylene Diamine Demand Outlook remains subdued as textile buyers prioritize inventory management over speculative purchasing.
• Para-Phenylene Diamine Price Index volatility increased due to lowered import quotations and weakening domestic consumption.
• Ample inventories and cautious procurement led suppliers to restrict production while closely monitoring tariff developments.
Why did the price of Para-Phenylene Diamine change in September 2025 in North America?
• Lower import costs from Asia and Chinese exports increased availability, compressing domestic Para-Phenylene Diamine pricing.
• High inventories and cautious textile procurement reduced offtake and sustained downward pressure on domestic pricing levels.
• Tariff uncertainty, lower freight costs, and softer feedstock trends weakened producer margins and constrained pricing.
APAC
• In South Korea, the Para-Phenylene Diamine Price Index fell by 1.82% quarter-over-quarter amid inventory weakness.
• The average Para-Phenylene Diamine price for the quarter was approximately USD 2516.67/MT on FOB-Busan basis.
• Para-Phenylene Diamine Spot Price weakened as Won appreciation reduced export competitiveness and overseas inquiries slowed.
• Para-Phenylene Diamine Price Forecast expects modest volatility near term owing to destocking and typhoon risks.
• Para-Phenylene Diamine Production Cost Trend remained mixed as aniline eased while nitrobenzene costs climbed slightly.
• Para-Phenylene Diamine Demand Outlook subdued with textile buyers prioritizing destocking and limiting new procurement volumes.
• High inventory levels pressured the Para-Phenylene Diamine Price Index, capping gains despite buyer restocking signals.
• Producer outages were limited; ample supply persisted, keeping Para-Phenylene Diamine Spot Price under pressure regionally.
Why did the price of Para-Phenylene Diamine change in September 2025 in APAC?
• Sustained high inventories constrained prices, while weak exports and sluggish textile demand reduced buying activity.
• Feedstock volatility created mixed production-cost signals, with aniline easing but nitrobenzene increases, further pressuring margins.
• Logistics risks including typhoon threats and currency appreciation weakened export competitiveness and discouraged aggressive replenishment.
Europe
• The Para-Phenylene Diamine (PPD) Price Index in Germany trended firm through Q3 2025, supported by steady downstream demand from hair dyes, textile dyes, and rubber chemicals.
• The average Para-Phenylene Diamine Spot Price for the quarter reflected moderate increases, with cosmetics and textile intermediates driving consumption.
• Spot Price resilience was underpinned by cosmetics restocking and consistent textile dye demand, offsetting seasonal slowdowns.
• The Para-Phenylene Diamine Price Forecast points to stable-to-firm levels, with upside risk from tighter feedstock availability and regulatory compliance costs.
• The Para-Phenylene Diamine Production Cost Trend remained elevated due to high energy costs in Germany and constrained supply of para-nitro chlorobenzene, a critical input.
• The Price Index stayed firm as sellers maintained offers amid cautious procurement and limited import relief from Asia.
• The Para-Phenylene Diamine Demand Outlook in Germany remained constructive, anchored by growth in hair dye formulations, textile dyes, and synthetic rubber additives.
Why did the price of Para-Phenylene Diamine change in September 2025 in Europe?
• Prices increased modestly in September 2025 as cosmetics manufacturers restocked ahead of seasonal demand.
• Tight supply of feedstock para-nitro chlorobenzene and elevated energy costs added upward pressure on the Price Index.
• Import costs and logistics frictions limited supply-side relief, sustaining firm Spot Prices despite selective buyer caution.
For the Quarter Ending June 2025
North America
• The Para-Phenylene Diamine (PPD) Spot Price in North America decreased by 2.49% quarter-over-quarter in Q2 2025, reflected in a bearish Price Index.
• The PPD market in the US exhibited a volatile Price Index during the second quarter of 2025, marked by alternating bearish and bullish trends.
• In April, the Price Index declined due to lower import costs, subdued demand from the downstream textile and polymer sectors, and uncertainty in global trade dynamics.
• May witnessed a sharp rebound in the Price Index, supported by improved trade sentiment following a temporary easing of tariffs and a rise in import and freight costs from Asian suppliers.
• Demand from the textile industry strengthened in May, prompting bulk buying and a temporary shift away from cautious procurement practices.
• By June, the Price Index dropped again as buyers reverted to conservative purchasing strategies amid sufficient inventory, lower import costs, and growing concerns over the conclusion of tariff relief measures.
• Overall, the quarter was defined by fluctuating confidence, mixed demand dynamics, and persistent trade-related uncertainty that shaped the PPD market's trajectory in the U.S.
Why did the price of Para-Phenylene Diamine (PPD) change in July 2025 in North America?
• Market uncertainty continues to influence buyer sentiment, leading to cautious procurement and putting downward pressure on the price of PPD.
• Despite anticipated growth in the domestic textile sector demand, buyers remain conservative, limiting aggressive purchasing behavior.
• Inventory levels remain adequate, reducing the urgency for restocking and contributing to a softer pricing environment.
• Overall, market confidence is restrained due to external economic and trade-related uncertainties, further impacting pricing dynamics.
APAC
• The Para-Phenylene Diamine (PPD) Spot Price in APAC decreased by 2.73% quarter-over-quarter in Q2 2025, reflected in a bearish Price Index.
• The Para-Phenylene Diamine (PPD) market in South Korea exhibited fluctuating sentiment across Q2 2025, with alternating bearish and bullish movements in the Price Index.
• In April, the Price Index declined amid weak downstream demand, reduced production costs, and heightened macroeconomic uncertainty, including trade disputes and cautious buyer activity.
• May witnessed a sharp recovery in the Price Index, supported by tightening supply, increased export demand, improved business sentiment, and political stabilization following domestic leadership changes.
• Optimism surrounding trade developments, seasonal demand from textile sectors, and stronger consumer confidence contributed to firmer market sentiment in May.
• However, in June, the Price Index reversed again due to high inventory levels, mixed cost dynamics from feedstock volatility, and subdued procurement activity.
• Business confidence weakened amid lingering economic concerns and muted overseas interest, while buyers focused on depleting existing stocks.
• Overall, Q2 reflected a volatile trend shaped by alternating demand cycles, policy shifts, and inventory-led supply dynamics within the APAC region, particularly in South Korea.
Why did the price of Para-Phenylene Diamine (PPD) change in July 2025 in APAC?
• The price of Para-Phenylene Diamine (PPD) in APAC declined in July 2025 due to uncertainty in overall market sentiment, which discouraged aggressive procurement and investment.
• Buyers prioritized inventory control and refrained from placing fresh orders, leading to a slowdown in overall trade activity.
• The combination of cautious market behavior and limited downstream consumption contributed to a bearish price trend during the month.
Europe
• In April 2025, the PPD market remained steady as supply chains normalized. Demand from downstream sectors like textiles and rubber was moderate, keeping the Price Index mostly stable.
• Moving into May, prices faced mild upward pressure due to a short-term uptick in domestic demand, especially from the textile sector during seasonal restocking. However, gains were limited by adequate inventory levels and stable imports.
• By June, the Price Index softened slightly as demand cooled off. Buyers showed restraint due to broader economic uncertainty in the Eurozone, and downstream consumption weakened, especially in the tire manufacturing and dye sectors.
• Overall, Q2 saw mild fluctuations: a steady start, a modest rise in the middle, and a slight decline toward the end, reflecting typical seasonal behavior and cautious sentiment in the industrial and manufacturing segments.
Why did the price of Para-Phenylene Diamine (PPD) change in July 2025 in Europe?
• Uncertainty in market sentiment led to weaker buying interest, contributing to a softer Price Index for PPD during the month.
• Stable supply levels and no major disruptions in feedstock availability meant suppliers had limited leverage to maintain higher prices.
• Cautious purchasing behavior persisted among European buyers, who delayed bulk purchases in anticipation of potential further price corrections.
For the Quarter Ending March 2025
North America
The Para-Phenylenediamine (PPD) market in North America displayed highly mixed sentiments throughout Q1 2025, shaped by shifting demand trends, evolving trade dynamics, and fluctuating import costs. January opened on a bearish note, with market activity subdued due to persistently weak demand across key downstream sectors such as polymers and automotive, compounded by declining import costs and rising trade pressures. Inventory levels remained sufficient, and buyers exercised caution, limiting procurement to essential needs.
However, February marked a significant shift as the market turned bullish amid rising import costs and renewed trade uncertainties, prompting a wave of preemptive buying. The end of the Lunar New Year in China further contributed to a surge in orders, particularly from the recovering automotive sector, driving heightened trading activity and upward pricing pressure.
Yet, this momentum did not sustain into March. Weakened demand from the polymer segment, an influx of cheaper imports, and ample inventories caused a sharp correction, reinstating bearish sentiment. Despite some resilience from the automotive sector, overall market confidence faltered due to oversupply and cautious buyer behavior. These varying factors—oscillating demand, price volatility, and policy uncertainty—collectively drove the uneven and unpredictable PPD market performance across the quarter.
APAC
The Para-Phenylenediamine (PPD) market in the APAC region displayed fluctuating market sentiments throughout Q1 2025, shaped by inconsistent demand, unstable economic conditions, and shifting trade dynamics. In January, the market remained bearish as weak domestic consumption and limited international orders persisted despite the Lunar New Year, with buyers prioritizing only essential procurement. A mixed trend in feedstock pricing further clouded cost structures, while a stronger dollar and political uncertainty weakened the won, discouraging broader market activity. February marked a sharp turnaround, driven by a resurgence in demand from both domestic and global markets, especially in the automotive sector. This surge, combined with low inventory levels and improved business confidence, prompted increased production and pricing adjustments by suppliers, setting a bullish tone. However, this momentum waned in March as the market returned to a bearish trajectory. A rapid buildup of inventory following post-holiday production restarts, weak export volumes, and persistent economic headwinds dampened trading activity. Regulatory constraints, tight credit conditions, and financial strain among smaller enterprises compounded the downturn. As a result, the quarter was marked by volatile sentiment swings—beginning with caution, peaking with optimism, and ending on a subdued note—reflecting the fragile balance between supply-demand fundamentals and broader economic pressures.
Europe
The Para-Phenylenediamine (PPD) market in the European region displayed fluctuating market sentiments throughout Q1 2025, shaped by inconsistent demand, unstable economic conditions, and shifting trade dynamics. The quarter started with bearish market sentiments amid the limited demand for the commodity from the domestic as well as the overseas markets. Limited orders were witnessed from the Asian markets despite the Lunar New Year, with buyers prioritizing only essential procurement. However, in February, the PPD market experienced a notable shift towards bullish sentiment, fueled by a robust resurgence in demand across both domestic and international markets. The existing inventory levels proved insufficient to meet the growing influx of new orders, prompting manufacturers to ramp up production. This surge in demand led suppliers to revise their pricing strategies upward in response to market optimism. Improved business confidence following the Lunar New Year further energized trading activity, as market participants anticipated continued growth and actively sought to capitalize on the positive momentum, reinforcing the strong uptrend in the market. Yet, this momentum did not sustain into March. Limited demand from end-users, and ample inventories caused a sharp correction, reinstating bearish sentiment. Despite some resilience from the automotive sector, overall market confidence faltered due to oversupply and cautious buyer behavior. These varying factors—oscillating demand, price volatility, and policy uncertainty—collectively drove the uneven and unpredictable PPD market performance across the quarter.
For the Quarter Ending December 2024
North America
In Q4 2024, the Para-Phenylene Diamine (PPD) market in the North American region experienced a consistent bearish trend driven by weak demand, excess inventory, and cautious market behavior. Despite declining feedstock costs, including reductions in Nitrobenzene and Aniline prices, market participants faced limited new orders and a slowdown in production. The automotive sector showed some improvement, but this was insufficient to offset the broader market weakness, particularly from the tire sector.
The uncertainty surrounding the upcoming presidential election, along with concerns over trade policies, further dampened market sentiment, leading to a cautious wait-and-see approach among buyers. Export prices from key suppliers like China and South Korea also declined, contributing to the downward pressure on prices. Additionally, destocking activities during year-end further suppressed demand.
Throughout the quarter, ample inventory levels and weak downstream demand, especially from the automotive and tire sectors, reinforced the bearish market sentiment. By December, market players lowered their price expectations in response to ongoing economic uncertainties, reduced new order intake, and fluctuating import costs, keeping the overall market environment subdued.
APAC
In Q4 2024, the Para-Phenylene Diamine (PPD) market in the APAC region experienced consistent bearish trends driven by weak demand, excess inventory, and declining production costs. Despite a reduction in feedstock prices, including Nitrobenzene and Aniline, the market witnessed limited demand both domestically and from international markets. The downstream automotive sector showed some signs of stabilization, but sluggish demand from heavily indebted consumers overshadowed any positive momentum. The Bank of Korea's interest rate cuts aimed at boosting consumption did not significantly alleviate market concerns. Additionally, geopolitical factors, such as political turmoil and weakening consumer confidence due to the martial law decree, contributed to pessimism in the market. The weakening of the South Korean Won further compounded these challenges. With inventory levels sufficient to meet subdued demand, new orders continued to decline, and business confidence remained low. Manufacturers adjusted production rates in response to the prevailing market conditions, which included reduced exports to key markets like the US. These factors led to a continued bearish outlook for the PPD market in South Korea, with cautious market behavior and a downward price trajectory.
Europe
In Q4 2024, the Para-Phenylene Diamine (PPD) market in Europe was marked by persistent bearish trends, driven by weak demand, surplus inventory, and fluctuating feedstock costs such as Nitrobenzene and Aniline. Despite some volatility in production costs, demand for the commodity remained limited both in domestic and international markets. The European market faced additional pressure from a record-high 21% interest rate, which raised concerns about borrowing costs and hindered business investment. At the end of the quarter, while the downstream automotive sector showed some improvement, it was not enough to offset the broader decline in market activity. The approach to year-end destocking further exacerbated the weak demand, as buyers remained cautious in their procurement decisions. A broader decline in employment and business confidence compounded the situation, signaling an overall lack of optimism in the market. The combination of economic uncertainty, high borrowing costs, and cautious market behavior contributed to a sustained bearish sentiment in the PPD market throughout the quarter, with limited prospects for recovery.
