Get the latest insights on price movement and trend analysis of Paraffin in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).
For the First Half of 2022
The price of paraffin surged globally owing to inflated crude oil, coal, and shale oil prices. With the western sanctions against Russian exports, the prices of oil rose to unprecedented levels. Thus, the petrochemical industry suffered, and the prices of paraffin surged. The price of paraffin averaged 1650 USD/MT in the Chinese market whereas it averaged 156380 INR/MT Ex Delhi NCR in the Indian domestic market. However, during the second quarter, the price trends for paraffin stabilized as the upstream crude oil prices relaxed.
The political struggle which unleashed in the East-European region tremendously impacted the economic conditions worldwide giving way to runaway inflation. With the European embargo on Russian oil, petrochemical prices surged throughout the region. The paraffin prices recorded an average hike of 7.5% in its prices. However, these raised prices soon caused the market demand to dwindle thereby causing the prices to stabilize slightly.
During the first quarter, the paraffin prices averaged 2250 USD/MT in the US domestic market. The inflated crude oil prices, complex logistics and lack of skilled labour contributed to these high prices. However, the price trends for paraffin staggered in the second quarter owing to the phenomenon of demand destruction amid high-cost inflation and contractionary policies announced by the central bank.
Procurement Resource provides latest prices of Paraffin. 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.
Paraffin, composed of a mixture of hydrocarbon molecules, is a soft colorless solid, obtained from petroleum, coal or shale oil. At room temperature, the substance is solid, but begins to melt above approximately 37 °C (99 °F). Its boiling point is over 370 °C (698 °F).
|Industrial Uses||Lubrication and hot melt adhesives, Agriculture, Electrical insulation, Food, Candles, Rubber and plastic processing aids|
|Synonyms||Paraffin wax, Petroleum wax|
|Supplier Database||Paraffinwaxco, Inc., Sinopec, PetroChina Company Limited, Chennai Petroleum Corporation Limited, Numaligarh Refinery Limited, UNICORN PETROLEUM INDUSTRIES PVT. LTD.|
|Region/Countries Covered||Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea, Iraq, Saudi Arabia, Malaysia, Nepal, Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore, Oman, Kuwait, Qatar, 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
Africa: South Africa, Nigeria, Egypt, Algeria, Morocco
|Currency||US$ (Data can also be provided in local currency)|
|Supplier Database Availability||Yes|
|Customization Scope||The report can be customized as per the requirements of the customer|
|Post-Sale Analyst Support||360-degree analyst support after report delivery|
Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
Slack wax, a mixture of oil and wax, is a byproduct from the refining of lubricating oil. While preparing Paraffin from slack wax, the oil is removed (de-oiling or de-waxing) from the slack wax and it is further crystallised and then filtered to produce Paraffin.
The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e. government agencies, external trade bodies, and industry publications).
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