For the Quarter Ending March 2025
North America
In North America, the Resorcinol market followed a firm and steady trend during the first quarter of 2025. Prices in the region registered a modest upward movement reflected a steady and slightly firm market trend. This trend aligned with the overall global market situation, especially influenced by developments in the Asia Pacific region.
India’s decision to impose an anti-dumping probe created uncertainty in global supply chains indirectly affecting North American markets. Buyers in the region responded by securing inventories early and adopting a cautious procurement approach. This helped maintain consistent availability in the market. Seasonal transitions from winter to early summer improved logistics and trade activities, supporting smooth supply operations.
Downstream demand from pharmaceuticals, personal care, and food sectors stayed steady, offering reliable consumption. Although tariff discussions surfaced during the quarter, no major disruption occurred. Market participants remained attentive to international supply risks and adjusted stock positions accordingly. By the end of the first quarter of 2025, the Resorcinol market in North America maintained a steady to firm position, supported by balanced demand and secure inventory levels.
Asia Pacific
The Resorcinol market in the Asia Pacific region recorded a notable increase in prices during the first quarter of 2025. The quarterly average price rose by 14.21%, driven by multiple market factors. One of the key reasons behind this sharp incline was India’s decision to launch an anti-dumping investigation on Resorcinol imports. This move created concerns among exporting countries within the region and resulted in changes in supply chain activity.
Procurement strategies became cautious with many buyers trying to secure stocks in advance. As a result, demand from downstream industries such as pharmaceuticals, personal care and food sectors remained firm. The seasonal transition from winter to early summer also encouraged a steady movement of goods.
Additionally, the Chinese Lunar New Year fell in the first quarter which temporarily affected the supply patterns and adding to market pressure. Smooth logistics resumed after the holidays, but prices stayed high due to tight inventories. Overall, the Asia Pacific market remained active and bullish throughout the first quarter of 2025.
Europe
The Resorcinol market in Europe followed a steady to firm pricing trend throughout the first quarter of 2025. Prices remained largely stable during the period, with a slight upward movement observed in certain parts of the market. This trend was influenced by global market movements, particularly the price surge observed in the Asia Pacific region.
India’s anti-dumping probe on Resorcinol affected the wider global market and raised concerns about future supply volumes. European buyers adopted careful procurement strategies and avoided overstocking but ensured enough inventory to manage regular demand. Downstream sectors- including pharmaceuticals, nutraceuticals, personal care and food industries maintained steady consumption levels and provided consistent offtake for suppliers.
Seasonal transition during the first quarter contributed to smooth logistics and uninterrupted trade flows. Though no major price shocks occurred, the market sentiment stayed firm due to anticipation of potential supply tightening in upcoming months. Procurement activities remained strategic throughout the quarter. By the end of the first quarter of 2025, the European Resorcinol market demonstrated stability with a cautiously firm undertone driven by balanced demand and careful inventory management.
For the Quarter Ending December 2024
North America
In Q4 2024, the U.S. Resorcinol market saw a steady rise in prices, fueled by high demand and severe supply chain challenges. In October, strong demand from the food and beverage sector, along with rising import costs from Asia, pushed prices higher. Supply constraints worsened due to increased fuel prices, port congestion, labor strikes, and limited domestic production. Traders' stockpiling in anticipation of winter demand further tightened supply, while higher Sulfuric acid costs raised production expenses.
November continued the upward trend, as skyrocketing Chinese export prices, fluctuating currency rates, and ongoing shipping disruptions added pressure. With limited shipping capacity and rising freight costs, importers faced mounting procurement expenses. Despite strong export demand for U.S.-made Resorcinol, domestic supply shortages left traders with little bargaining power.
These combined factors point to a structural shift in the market, with prices likely to remain elevated unless domestic production ramps up or import sources diversify. Overall, Q4 2024 was characterized by a consistent upward price trend, driven by supply chain disruptions and strong demand.
Asia
The overall trend in Q4 2024 for Resorcinol prices in Japan was a significant upward trajectory, marked by a strong seller's market and supply chain disruptions. In October, limited availability, high demand from the pharmaceutical sector, and rising costs of key raw materials like Sulfuric Acid caused Resorcinol prices to surge.
By November, the market remained bullish, driven by strong demand from Western markets and tight supply, exacerbated by logistical challenges. December saw a critical market shift, with manufacturers leveraging low inventories and post-holiday demand to reset pricing mechanisms, positioning the market for sustained volatility.
Sulfuric Acid prices also rose, supported by increased demand from the agrochemical sector during the plantation season and higher feedstock costs. Despite stable Benzene prices, the overall market sentiment was bullish, reflecting tightening supply conditions. As Japan navigates transportation bottlenecks and strategic production throttling, the Q4 market dynamics signal a broader transformation, with long-term implications for global trade and pricing structures. Market participants must brace for ongoing price volatility in the months ahead.
Europe
In Q4 2024, the European Resorcinol market was marked by significant volatility, driven by rising prices and a series of challenges. The growing reliance on Chinese imports, escalating freight costs, and shifting energy prices created a turbulent market environment. These conditions required traders to adopt more sophisticated inventory and procurement strategies.
Despite these pressures, the food additives and pharmaceuticals sectors showed steady growth, managing increasing operational costs amid uncertain demand. Mid-quarter, opportunities arose as Chinese suppliers cleared their inventories with competitive pricing, which traders were quick to leverage. However, tight regulatory standards and quality control demands added further complexity, making it essential for businesses to stay proactive and adaptable.
The quarter emphasized the need for strategic planning, as European traders balanced cost management with fluctuating demand. It also showcased the market's ability to adapt, utilizing both resilience and forward-thinking strategies to navigate volatility while capitalizing on short-term pricing opportunities.
For the Quarter Ending September 2024
North America
The US Resorcinol market in Q3 2024 showed similar patterns to Europe but with distinct regional dynamics. July started with favorable import conditions as US buyers capitalized on lower Japanese export prices. The strong US dollar against the yen partially offset increased freight rates, helping maintain competitive import costs despite global shipping challenges.
August brought a shift in market dynamics as US importers faced stiffer competition for Japanese material. Domestic demand strengthened, particularly from rubber products manufacturers and wood adhesives producers. US buyers increased their purchasing activities in response to rising benzene prices and growing concerns about supply chain reliability. The market also saw increased stockpiling ahead of the hurricane season, which traditionally affects logistics operations.
September continued the upward price trajectory in the US market. American importers faced additional pressure from strong competition with European buyers for Japanese material. The pharmaceutical and personal care sectors increased their procurement activities, anticipating higher demand in the coming winter months. Logistics bottlenecks at major US ports, particularly on the West Coast, contributed to longer lead times and higher handling costs, further supporting the price increase trend in the domestic market.
Asia
In the third quarter of 2024, Japan’s Resorcinol market experienced a fluctuating trend, with prices ultimately rising due to a mix of economic, seasonal, and geopolitical influences. In July, prices, largely due to an oversupply situation in the domestic market, reduced global competitiveness from a stronger yen, and increased freight costs from ongoing geopolitical tensions. Seasonal plant shutdowns also contributed to inventory liquidation, keeping prices under pressure.
However, in August, prices rebounded as demand surged both domestically and in export markets, bolstered by Japan’s stable production and cost advantages. The Japanese yen's appreciation, along with limited shipping capacity, allowed exporters to secure higher rates. The market also saw intensified procurement ahead of the Zhongyen Festival and anticipated October market closures, alongside price increases for benzene, a key feedstock, and higher crude oil prices tied to Middle Eastern tensions.
In September, prices continued to rise stably, as supply constraints and strong demand sustained market pressure. Anticipatory buying before production restarts heightened competition, with companies strategically building inventories to mitigate potential supply risks in the holiday and winter months, particularly for food and pharmaceutical sectors. Meanwhile, logistical challenges and a stronger yen added upward momentum, benefiting Japanese exporters. A bullish trend in the sulfuric acid market due to rising sulfur feedstock costs also impacted Resorcinol pricing. Overall, Q3 2024 saw Resorcinol prices in Japan decrease steadily.
Europe
In the third quarter of 2024, Europe's Resorcinol market showed an upward trend, primarily influenced by its dependency on Japanese imports and regional market dynamics. In July, prices remained relatively stable despite Japan's oversupply situation, as European importers faced higher freight costs and currency exchange challenges with the stronger yen. Local inventory levels were maintained through consistent import volumes, though logistics constraints from major shipping routes created some supply chain pressure.
In August, European prices saw a sharp increase as import costs rose due to Japan's strengthening market position and the yen's appreciation. European buyers faced intensified competition for available Japanese material, particularly as regional demand increased from pharmaceutical and industrial sectors. Pre-winter stockpiling activities and limited regional storage capacity contributed to price pressures, while higher benzene prices in the European market added to the cost structure.
In September, the market continued its bullish trend with prices climbing further. European importers accelerated their procurement activities to secure supplies before Japanese plant maintenance periods. The pharmaceutical sector's growing demand and strategic inventory building for winter months created additional market pressure. The stronger yen and persistent logistical challenges further elevated import costs, while rising sulfuric acid prices in Europe's domestic market contributed to overall cost increases.
For the Quarter Ending June 2024
North America
In Q2 2024, the North American Resorcinol market experienced significant price fluctuations driven by complex supply and demand dynamics. Initially, the United States saw a substantial drop in Resorcinol prices in April, paralleling trends in Chinese provinces. This decrease was largely due to the U.S.'s position as a major importer, with easing geopolitical tensions leading to reduced freight charges and lower shipment costs. Additionally, large inventories from earlier bulk purchases, made in anticipation of higher demand, further softened the market as decreased purchasing activity and weakened consumer confidence due to inflation dampened demand.
Supply-side factors also played a crucial role in the market dynamics. The appreciation of the U.S. dollar contributed to the downward pressure on prices, creating challenges for producers and suppliers. Global supply chain disruptions, ongoing geopolitical tensions, and logistical issues such as drought-induced bottlenecks and prolonged vessel delays further impacted the market. The General Rate Increase (GRI) imposed by shipping carriers raised costs, prompting industry participants to adopt bulk buying strategies to mitigate future supply uncertainties and take advantage of existing arbitrage opportunities.
Despite these challenges, the U.S. market witnessed significant price changes influenced by the early onset of the peak shipping season, strong local purchasing, and robust downstream demand. Seasonal factors, particularly the anticipated higher demand during the summer months, amplified the price increases. The combination of these elements created a dynamic and volatile market environment for Resorcinol in North America during Q2 2024.
Asia
In the second quarter of 2024, Resorcinol prices in the APAC region exhibited significant fluctuations driven by several key factors. April marked a notable downturn in the Japanese market, primarily due to an oversupply from domestic suppliers. This surplus led market participants to strategically lower prices to manage inventory levels. The pessimistic demand outlook, coupled with a stable purchasing pattern, further pressured prices. Additionally, the appreciation of the US dollar and the bearish trend in raw material costs, such as Sulphuric Acid, contributed to the price decline. The economic downturn in Japan, reflected by the depreciation of the Yen and reduced consumption rates, exacerbated these trends.
However, may witness a rebound in Resorcinol prices driven by robust demand that outpaced the constrained supply. The limited availability of Resorcinol, coupled with rising energy and raw material costs, including benzene and sulfuric acid, significantly increased production expenses. Logistical challenges and elevated freight costs, fueled by higher crude oil prices, further intensified the cost pressures. The depreciation of regional currencies against the USD also heightened import expenses, adding to the overall financial burden on suppliers and manufacturers. These factors collectively pushed prices upward.
Japan experienced the most significant price changes in the APAC region, with a consistent rise in Resorcinol prices due to substantial seasonal fluctuations and strategic inventory management. The second quarter showcased a 0.24% average quarterly price increase, with the latest quarter-ending price for Resorcinol (≥ 99.5%) FOB Tokyo at USD 4540/MT. Despite the absence of major disruptions or plant shutdowns, the market dynamics were largely influenced by demand-supply imbalances and economic conditions. Overall, the pricing environment in Q2 2024 was favorable, characterized by heightened demand and constrained supply, fostering an upward price trend across the APAC region.
Europe
In Q2 2024, the European Resorcinol market saw a substantial price increase due to rising production costs, geopolitical disruptions, and supply chain constraints. Germany, a key importer, experienced a notable price decline in April, mirroring a broader downturn in exporting regions. This decrease was attributed to substantial inventories from prior bulk purchases, resulting in oversupply and dampening market sentiment. Reduced purchasing activities and weakened consumer confidence, compounded by inflation, further suppressed demand.
The easing of geopolitical tensions contributed to a reduction in freight charges, impacting transportation costs and overall pricing in the German market. Supply dynamics played a crucial role, with the US Dollar's appreciation against the Euro adding challenges for producers and suppliers. Escalating feedstock prices, particularly for Sulphuric acid, significantly increased production costs. Logistical disruptions from the Panama Canal drought and reduced vessel traffic exacerbated supply issues, creating bottlenecks and market strain. Additionally, the ongoing conflict in Israel and Gaza caused sporadic shipping delays, particularly affecting routes through the Red Sea and Cape of Good Hope, intensifying market volatility.
Germany faced a confluence of factors, including a weakened Euro and heightened inflationary pressures, driving prices upward. Seasonal demand fluctuations led to increased procurement activities early in the quarter. However, as inventories built up, the market experienced a slowdown. Overall, the European Resorcinol market in Q2 2024 was characterized by significant price volatility driven by complex interplays of supply chain challenges, geopolitical events, and macroeconomic factors.
