For the Quarter Ending March 2023
North America
The price of Sodium Methylparaben in the North American region was generally declining in the first quarter of 2023. Prices were much lower at the beginning of the quarter due to weak domestic demand in Q1 2023. The high amount of inventory that domestic retailers held among themselves had a negative impact on the market situation. The decrease in production costs, which was brought on by weak demand from the downstream industry and an exporter excess, also influenced the prices of Sodium Methylparaben. With the demand also stabilizing, prices in the month of February stabilized on the positive side. Sodium Methylparaben values were found at USD 8290/MT CFR New York at the end of the first quarter, with an average quarterly decline of 0.38%.
APAC
In the first quarter of 2023, the Sodium Methylparaben market in the APAC region showed a generally steady increasing trend. Due to weak domestic demand during Q1 2023, prices were slightly lower at the start of the quarter. The market scenario was adversely affected by the large amount of inventory that domestic retailers held among themselves. At the conclusion of the first quarter of 2023, Sodium Methylparaben values were discovered to be USD 5780/MT FOB Shanghai, with an average quarterly increase of 1.01%. Due to heightened demand from both domestic and foreign markets later in the month of February, prices rose dramatically. Also, increased production rates further added to the optimistic trend.
Europe
In the first quarter of 2023, the Sodium Methylparaben market in Europe had a general downward price trend. Due to weak domestic demand during Q1 2023, prices were significantly lower at the start of the quarter. The market scenario was adversely affected by the large amount of inventory that domestic retailers held among themselves. The prices of Sodium Methylparaben were also impacted by the decline in production cost, which was a result of weak demand from the downstream industry and an exporter surplus. The prices in the month of February stabilized on the positive end, backed by stabilization in the demand outlook. Sodium Methylparaben values were found at USD 7920/MT CFR Hamburg at the end of the first quarter, with an average quarterly decline of 0.18%.
For the Quarter Ending December 2022
North America
The US domestic market for Sodium Methyl Paraben had a drop in the fourth quarter of 2022. Due to declining demand from downstream businesses like the food additives sectors, prices decrease throughout the first half of the quarter, particularly during the first month. In addition, prices started to drop after the second month got underway due to a drop in demand and a sufficient amount of market inventory. Prices continued to fall in the second half, second month, and final month of the quarter because of traders' sustained demand and low stock levels. Towards the end of the quarter, the prices for Sodium Methyl Paraben were assessed at around USD 8390/MT for CFR New York in December.
APAC
In the fourth quarter of 2022, the cost of Sodium Methyl Paraben in the Asia Pacific area showed a fluctuating pattern. The price of sodium methylparaben dropped in the domestic Chinese market as demand from the end-user food and beverage sectors was weak during the first half of the quarter but then stabilized during the second half. Due to the continually falling prices, the stock level on the domestic market fell even more in the second half of the quarter, particularly in the last month. Toward the end of the quarter, the prices for Sodium Methyl Paraben were assessed at around USD 5610/MT for FOB Shanghai in December.
Europe
In the fourth quarter of 2022, the domestic market for Sodium Methyl Paraben in Europe displayed an inconsistent pattern. Prices declined throughout the first month of the quarter and during the first half of the quarter as a result of decreased demand from downstream industries like the food additives sectors. Additionally, prices began to decline following the start of the second month as a result of a decline in demand and an adequate supply of market inventory. Due to traders' persistent demand and low stock levels, prices fell for the remainder of the quarter, including the second and final months. Towards the end of the quarter, the prices for Sodium Methyl Paraben were assessed at around USD 7965/MT for CFR Hamburg in December.
For the Quarter Ending September 2022
North America
The US's Sodium Methyl Paraben market showed an erratic pattern in the third quarter of 2022. Prices grew throughout the first half of the quarter, especially during the first month, because of increasing demand from downstream industries, such as the food additives sector. Additionally, once the second month began, prices began to decline because of a decline in demand and an adequate supply of inventories in the market. Due to persistent demand from traders and low stocks, prices were raised again in the second half, second month, and final month of the quarter. Towards the end of the quarter, the prices for Sodium Methyl Paraben were assessed at around USD 8860/MT for CFR New York in September.
APAC
The price of Sodium Methyl Paraben in the Asia Pacific region showed a varying tendency in the third quarter of 2022. As demand for the product from the end-user food and beverage sectors was low during the first half of the quarter but later steadied during the second half in China, the price of sodium methylparaben decreased in the domestic Chinese market. The stock level in the domestic market further declined in the second half of the quarter, especially in the last month, as a result of the prices consistently declining. Towards the end of the quarter, the prices for Sodium Methyl Paraben were assessed at around USD 5690/MT for FOB Shanghai in September.
Europe
In the third quarter of 2022, Europe's domestic market for Sodium Methyl Paraben displayed an inconsistent pattern. Due to rising demand from downstream businesses like the food additives sectors, prices increased during the first half of the quarter, particularly in the first month. In addition, prices started to drop after the second month got underway due to a drop in demand and enough market inventory. Prices increased once more in the second half, second, and final month of the quarter because of traders' sustained demand and low stock levels. Towards the end of the quarter, the prices for Sodium Methyl Paraben were assessed at around USD 8170/MT for CFR Hamburg in September.
For the Quarter Ending June 2022
North America
The US domestic market for Sodium Methylparaben showcased a positive trend during the second quarter of 2022. The import of Sodium Methyl Paraben into the US, which was already experiencing significant port congestion, was drastically made worse by the reappearance of COVID in China's commercial areas. Domestic traders and customers continued to express concerns about the high cost of food chemicals throughout the quarter due to various issues, such as the US's soaring inflation, the geopolitical unrest in Russia and Ukraine, and the wildly fluctuating nature of oil prices. The region's downstream food and confectionary industries continued to experience strong demand over time.
APAC
In the second quarter of 2022, the price of Sodium Methylparaben in the Asia Pacific region showcased a declining tendency. In the domestic Chinese market, the cost of sodium methylparaben dropped by 2.83 percent from April to June, while it dropped by 5.13 percent in the Indian market. Demand for the product from the end-user food and beverage sectors was low during the first half of the quarter but later stabilized during the second half in China. The supply of Sodium Methylparaben into and out of the country was significantly affected by an increase in COVID cases in China's major provinces, and the country's zero-COVID policy forced the ports to close causing port bottlenecks. Throughout the quarter, the tolerance policy persisted in disrupting supply and production. Additionally, the limitations made it incredibly challenging for goods to travel across the country and to crucial ports for international trade.
Europe
In the European region, the market for Sodium Methylparaben showcased a positive trend during the 2nd half of the quarter. Demand-wise, Offtakes in the end-user food and beverage industries remained firm over the quarter. Local merchants in the European market had abundant inventory to meet downstream demand. The conflict between Russia and Ukraine continued to drive up shipping costs and slow the flow of products into Europe, but it also made it more challenging for exporting nations to conduct business. A shortage of empty cargo containers and Russia's invasion of Ukraine severely disrupted global trade, further surging the cost of shipping goods from China to Europe.
For the Quarter Ending March 2022
North America
Prices of Sodium Methyl Paraben dropped in the North American Market during the 1st quarter of 2022, on the back of weak downstream demand. Due to rising awareness over hazardous effects of Paraben on human health and skin, people were heard avoiding products containing Paraben in them, which consequently led to the decreased demand of Paraben from various end-user industries. Furthermore, owing to lower number of enquiries, the inventories remained full throughout the quarter, which resulted in price drop of Sodium Methyl Paraben. In USA, the prices of Sodium Methyl Paraben settled at USD 5080/MT CFR New York in the month of January, which continued the fall till March.
Asia Pacific
Asia-Pacific region witnessed a downfall in the prices of Sodium Methyl Paraben during the quarter 1 of 2022, backed by the fall in downstream demand. As the concerns regarding Paraben consumption increased during the considered period, offtakes of Sodium Methyl Paraben fell from the consumer end. Meanwhile, because of enhanced prevalence of Paraben-free products, more and more brands started manufacturing cosmetics without Paraben, which further decreased its consumption in end-user industries. Conclusively, the evaluated prices of Sodium Methyl Paraben IP at FOB JNPT were USD 6474/MT during the month of January, which showcased continuous fall till March.
Europe
In line with the trend of North America and Asia-Pacific region, prices of Sodium methyl Paraben fell in the European market during the 1st quarter of 2022, on account of decreased demand from end-user industries. As the consumer preferences grew in favor of Paraben-free products, the consumption of Sodium Methyl Paraben dropped in the downstream industries. Besides, insufficient offtake kept the inventories overflowing with supplies, which further declined the prices of Sodium Methyl Paraben throughout the quarter in Europe. In Germany, the prices of Sodium Methyl Paraben assembled at USD 4330/MT FD Hamburg in the month of January, which decreased continuously till March.
