Paraxylene Price In Belgium
- Belgium: 1091 USD/MT
During the last quarter of 2023, the price of paraxylene in Belgium decreased, reaching 1091 USD/MT by the end of December. This decline was driven by low demand from downstream industries such as bottling and packing. Additionally, low feedstock prices and an oversupply of the product contributed to this downward trend.
The latest report by IMARC Group, titled " Paraxylene Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data," delivers a comprehensive analysis of paraxylene prices on a global and regional scale, highlighting the pivotal factors contributing to price changes. This detailed examination includes spot price evaluations at key ports and an analysis of pricing structures, such as Ex Works, FOB, and CIF, across North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Paraxylene Prices December 2023:
- Belgium: 1091 USD/MT
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The study delves into the factors affecting paraxylene price variations, including alterations in the cost of raw materials, the balance of supply and demand, geopolitical influences, and sector-specific developments.
The report also incorporates the most recent updates from the market, equipping stakeholders with the latest information on market fluctuations, regulatory modifications, and technological progress. It serves as an exhaustive resource for stakeholders, enhancing strategic planning and forecast capabilities.
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Paraxylene Price Trend- Q4 2023
The Paraxylene market is being propelled by a confluence of factors, driving its growth trajectory. The burgeoning demand for PET (polyethylene terephthalate) resin, primarily utilized in the production of bottles and packaging materials, continues to surge globally, fostering an increased requirement for Paraxylene, a key precursor in PET manufacturing. Furthermore, the expanding textile industry, particularly in emerging economies, fuels the demand for polyester fibers, further augmenting the need for Paraxylene as a raw material. Additionally, the growing disposable income levels and urbanization in developing regions are escalating the consumption of polyester products, thereby bolstering the Paraxylene market. Technological advancements in Paraxylene production processes, such as catalytic reforming and crystallization, are also enhancing efficiency and driving market growth.
Paraxylene Market Analysis
The global paraxylene market size reached US$ 49.7 Billion in 2023. By 2032, IMARC Group expects the market to reach US$ 78.6 Billion, at a projected CAGR of 5.10% during 2023-2032. The fourth quarter of 2023 marked a bearish trend for Paraxylene in the North American region. With supply levels ranging from moderate to high, prices experienced a decline attributed to reduced demand from downstream industries like PET Bottle and PTA. October witnessed a sluggish demand, influenced by the decrease in crude oil prices in the US, coupled with ample inventories adequately meeting domestic demand throughout October and November. Concurrently, the manufacturing sector in the United States faced deeper contraction in December, primarily driven by declining new orders, reflecting weakened client demand amidst increased global economic uncertainty. External demand conditions also weakened, with new export orders contracting, albeit at a fractional pace of decline.
The Paraxylene market in the APAC region experienced a bearish trend during the fourth quarter of 2023, predominantly influenced by uncertain naphtha prices in the Asia market. While the downstream market remained relatively stable with moderate supply and demand, market sentiment varied across regions. The Japanese market saw sustained decline in new orders, attributed to domestic economic weaknesses and slower overseas demand. Despite this, manufacturers increased employment levels and purchasing activities, indicating preparations for increased output.
The European Paraxylene market encountered weak demand in the fourth quarter of 2023, primarily due to decreased demand from downstream bottling and packaging industries. Low-cost import offers from the Asian market further impacted the market, alongside sluggish conditions and declining crude oil prices. The decline in Paraxylene prices was mainly attributed to weak feedstock prices and subdued downstream demand. Manufacturers in the Eurozone reduced workforce numbers in December as they adjusted to lower capacity utilization, while surplus availability of the product and reduced demand extended delivery schedules. Despite slower declines in new work from abroad, subdued demand across European markets contributed to the overall bearish trend in Paraxylene prices in Europe during the fourth quarter of 2023.
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Key Points Covered in the Paraxylene Pricing Report:
The report delivers the following key findings, alongside a comprehensive breakdown of prices by region:
- Paraxylene Prices
- Paraxylene Price Trend
- Paraxylene Demand & Supply
- Paraxylene Market Analysis
- Demand Supply Analysis by Type
- Demand Supply Analysis by Application
- Demand Supply Analysis of Raw Materials
- Paraxylene Price Analysis
- Paraxylene Industry Drivers, Restraints, and Opportunities
- Paraxylene News and Recent developments
- Global Event Analysis
- List of Key Players
Regional Price Analysis:
- Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand
- Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece
- North America: United States and Canada
- Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru
- Middle East & Africa: Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco
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Note: The current country list is selective, detailed insights into additional countries can be obtained for clients upon request.
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