For the Quarter ending March 2022
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 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.
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.