For the Quarter Ending September 2025
North America
• In United States, the Para Tertiary Butyl Cyclohexyl Acetate (PTBCHA) Price Index remained stable quarter-over-quarter in Q3 2025, influenced by cooling consumer demand.
• PTBCHA production costs faced upward pressure from a 2.6% year-over-year increase in producer prices in August 2025.
• Industrial production's marginal 0.1% year-over-year increase in September 2025 indicated sluggish demand for chemical inputs.
• Consumer confidence declined to 94.2 in September 2025, suggesting cautious spending on discretionary items despite robust retail sales.
• PTBCHA demand outlook was supported by robust 5.42% year-over-year retail sales in September 2025 for consumer products.
• US chemical companies slowed operating rates in Q3 2025 to draw down inventories, impacting PTBCHA supply dynamics.
• Lower propane prices in August 2025, influenced by crude oil, offered some relief to general energy feedstock costs.
• The low unemployment rate of 4.3% in September 2025 supported consumer purchasing power for personal care and fragrances.
Why did the price of Para Tertiary Butyl Cyclohexyl Acetate (PTBCHA) change in September 2025 in North America?
• Rising producer input costs, with PPI up 2.6% year-over-year in August 2025, pressured PTBCHA expenses.
• Cooling consumer demand in Q3 2025 led to inventory adjustments by US chemical companies.
• Marginal 0.1% year-over-year industrial production rise in September 2025 reflected weak overall manufacturing activity.
APAC
• In China, the Para Tertiary Butyl Cyclohexyl Acetate (PTBCHA) Price Index fell quarter-over-quarter in Q3 2025, driven by deflationary pressures.
• PTBCHA production costs trended downwards in Q3 2025, influenced by sustained downward pressure on naphtha and methanol feedstock.
• Demand outlook for PTBCHA was mixed; retail sales increased 3.0% year-on-year in September 2025, supporting personal care.
• China's CPI decreased by 0.3% year-on-year in September 2025, indicating weak consumer purchasing power for finished goods.
• The Manufacturing Index was contracting in September 2025, signaling reduced industrial output impacting PTBCHA consumption.
• Industrial production expanded 6.5% year-on-year in September 2025, providing some underlying support for chemical demand.
• Overall chemical capacity expansion in China contributed to oversupply and tightening margins for PTBCHA in Q3 2025.
• Consumer confidence at 89.6 in September 2025 indicated a pessimistic outlook, tempering discretionary spending on fragrance products.
Why did the price of Para Tertiary Butyl Cyclohexyl Acetate (PTBCHA) change in September 2025 in APAC?
• Deflationary pressures, with PPI decreasing 2.3% year-on-year in September 2025, impacted PTBCHA selling prices.
• Naphtha and methanol feedstock costs experienced sustained downward pressure in Q3 2025, reducing PTBCHA production expenses.
• Contracting manufacturing activity in September 2025, despite retail sales growth, contributed to overall weak PTBCHA demand.
Europe
• In Germany, the Para Tertiary Butyl Cyclohexyl Acetate (PTBCHA) Price Index remained stable quarter-over-quarter in Q3 2025, influenced by mixed demand and varied production cost trends.
• The PTBCHA Price Forecast suggests continued stability, as ample inventories balanced specific fragrance demand growth in Q3 2025.
• PTBCHA Production Cost Trend was mixed; PPI decreased by 1.7% in September 2025, but CPI rose by 2.4% in September 2025.
• Naphtha feedstock costs eased in Q3 2025, yet overall raw material costs remained elevated for the German chemical industry.
• PTBCHA Demand Outlook faced headwinds from a contracting Manufacturing Index and 1.0% decline in September 2025 industrial production.
• Conversely, demand for fragrance products, a key PTBCHA driver, strengthened in Germany in Q3 2025.
• German chemical inventories remained ample in Q3 2025, indicating oversupply pressure despite some plant shutdowns.
• High energy costs challenged the German chemical industry throughout Q3 2025, despite softening European natural gas prices.
Why did the price of Para Tertiary Butyl Cyclohexyl Acetate (PTBCHA) change in September 2025 in Europe?
• Ample German chemical inventories in Q3 2025 exerted downward pressure on PTBCHA prices due to oversupply.
• Contracting industrial production in September 2025 dampened overall PTBCHA demand.
• Mixed cost signals, like easing naphtha and lower PPI, contributed to price stability.
