O-Xylene Price Trend and Forecast

Regional Market Overview

Get the latest insights on price movement and trend analysis of O-Xylene in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

O-xylene Price Trend for the October - December of 2023

Asia

The O-xylene market only showed slight improvements in the last quarter of 2023 and thus failed to stand up to the traders’ anticipation. In China, several plants which underwent maintenance shutdowns in the last quarter resumed their production, but the domestic appetite of the consumers seemed to be crippled by the inflationary setback. However, a rise in exports to overseas industries, particularly in the US, helped the O-xylene Price trend to sustain in the market.

O-Xylene Price Chart

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Europe

After a slight bullish run, O-xylene prices in the European market fell due to factors such as increasing supply, lower manufacturing costs, and ongoing sluggish demand. Another prime divergence of the market was the decreased feedstock naphtha prices brought on by poor domestic procurement and lower manufacturing expenses.

Additionally, the exports routed from the European countries were disrupted by the Israel-Hamas war, which in turn raised the level of inventories of the market and caused the O-xylene prices to move southwards.

North America

The bearish outlook of the O-xylene Price trend during Q4 of 2023 was the reflection of the entire xylene market in the US. The prices of raw materials required for the synthesis of O-xylene, such as benzene, nosedived in view of poor demand from direct consumers and low rates of procurement from the downstream industries. The market also seemed to have adhered to the fluctuations in the petrochemical industries and challenging economic indicators.

Analyst Insight

According to Procurement Resource, the price trend of O-xylene are estimated to be dependent on the harvest of raw materials and the effect of inflation on the food and beverage markets as this, in turn, dictates the O-xylene demand dynamics.

O-xylene Price Trend for the July-September of 2023

Asia

The O-xylene Price trend benefitted from the surge in the cost of xylene in the third quarter. The third quarter also favored the rise in prices of upstream products as well as demand from the downstream industries, which led to the upward movement of the o-xylene price graph.

In addition to this, the surge in the cost of crude oil raised the production prices and gave the o-xylene market its required momentum. However, the persistent downward pull of soaring inflation and the weak economic recovery of China proved to be a challenge for the traders.

Europe

The European countries experienced a significant incline in the O-xylene Price trend during the first two months of the third quarter. This phase witnessed a surge in the cost of feedstock materials amid the rising pressure of inflation and consistent hikes in bank interest rates.

Despite the adverse functioning of the European economy, the improvement in the raw materials sector and slight growth in o-xylene demand supported the inclination in the o-xylene price graph. However, the daunted market conditions soon caught up with the recovery rates and pushed the o-xylene prices into a downward spiral.

North America

The worldwide slowing down of economic growth had a negative effect on O-xylene Price trend in North America, too. The market thus failed to produce appropriate demand for o-xylene, and thus, in view of poor rates of procurement, the O-xylene Price trend had no support and fell gradually throughout the third quarter of 2023. The market of o-xylene also lost momentum as the cost of production rose by several folds on account of rising crude oil prices.

Analyst Insight

According to Procurement Resource, the price trend of O-Xylene are estimated to trace an oscillating trajectory as the demand for o-xylene and support from the feedstock sector is expected to remain weak in the upcoming quarters.

O-xylene Price Trend for the First Half of 2023

Asia

In Asia, the price trend of o-Xylene fluctuated in the first two quarters of 2023. In the initial phase, the prices declined due to the weak demand from the downstream sectors and ample availability of the product in the region.

But in the subsequent phase, the prices started to improve as the market regained its momentum after a long stretch of lunar new year holidays, especially in China. However, the trend stabilized and eventually declined in Q2 as the supply-demand dynamics normalized, given the over-supply of products in the market amid bearish demands.

Europe

In Europe, the prices of o-Xylene were stable throughout the first and second quarters of 2023. In this region, the major influencing factors were the stagnant purchasing potential of buyers and consistent demand from the end-user industries. The improving market sentiments, gradually increasing demand, slow production activities, and thus the depletion in the level of inventories further supported the o-Xylene market.

North America

A mixed trend in the prices of o-Xylene was observed in the North American region. The prices struggled to maintain stability in the initial months of the first quarter of 2023 but were supported by the positive demand outlook from the end-user sector and ample product availability to counter this demand. But soon enough, in the middle of the first quarter and throughout the second quarter, the price trend declined as manufacturers were forced to reduce their operation rates due to the weak demand from the downstream sectors.

Analyst Insight

According to Procurement Resource, the price trend of o-Xylene is expected to showcase a mixed trend. The demand from the downstream industries for o-Xylene seems uncertain, and the fluctuating market dynamics will likely affect the o-Xylene market.

Procurement Resource provides latest prices of O Xylene. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.