Udeesha Tomar
AVP - Strategy and Solutions
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Phenol Price Trend Analysis 2026: Price Drivers, Historical Prices, Latest News, Market Insights & Supply Demand Analysis
Written ByUdeesha Tomar
Phenol Price Trend Q1 2026
| Product | Region | Incoterm Basis | Price | Last Updated Month |
|---|---|---|---|---|
| Phenol | China | FOB | USD 1,297.39/MT | April 2026 |
| Phenol | India | CIF | USD 1,347.27/MT | April 2026 |
| Phenol | USA | CIF | USD 1,384.39/MT | April 2026 |
| Phenol | Brazil | CIF | USD 1,418.49/MT | April 2026 |
| Phenol | Canada | CIF | USD 1,384.39/MT | April 2026 |
| Phenol | China | FOB | USD 1,263.80/MT | March 2026 |
| Phenol | China | FOB | USD 936.00/MT | February 2026 |
| Phenol | India | CIF | USD 2,025.15/MT | February 2026 |
| Phenol | USA | CIF | USD 998.00/MT | February 2026 |
| Phenol | Brazil | CIF | USD 999.00/MT | February 2026 |
| Phenol | Canada | CIF | USD 1,008.00/MT | February 2026 |
Stay updated with the latest Phenol prices, historical data, and tailored regional analysis
- Global phenol prices followed a strong upward trajectory in Q1 2026, supported by tightening supply and sustained cost push, though regional demand variations influenced the pace of increase.
- Feedstock pressures intensified as the Iran war disrupted crude oil markets; the effective closure of the Strait of Hormuz halted nearly 20% of global oil and LNG flows, while OPEC+ cuts of up to 11 million bpd and tanker congestion sharply increased freight and insurance costs, elevating benzene and propylene prices.
- Downstream demand remained stable to firm, with recovery in bisphenol A and resins, although elevated costs and global economic pressure restrained aggressive procurement.
Asia
During the first quarter of 2026, the phenol price curve displayed significant price increase in the Chinese region. The prices were about 6.09 CNY/kg (Spot) in January and around 8.86 CNY/kg in March, which were higher by approximately 14.4% compared to the fourth quarter of 2025. An increase of around 31.3% (from February to March) was witnessed primarily driven by rising upstream benzene and propylene costs, reduced import availability, and plant maintenance activities that tightened supply.
Along with this, declining port inventories and positive downstream demand from bisphenol A producers reinforced the upward movement in the phenol price trend. Meanwhile, in the Indian markets the prices rose from INR 76.22/kg in January and around INR 93.08/kg in March following the global cues, with higher import costs and elevated freight rates. Although the downstream demand remained stable, phenol prices rose significantly about 23.7% from February to March.
Europe
The European phenol market experienced upward pressure during the quarter, primarily influenced by elevated feedstock costs and constrained import flows. The disruption in global oil and LNG supply chains due to the Iran conflict increased production costs across the region, as benzene and propylene prices tracked crude oil movements.
Import dependency exposed the market to higher freight and insurance costs, while logistical delays limited material availability. Demand from downstream sectors such as automotive and construction-linked resins remained steady, but high input costs led to cautious purchasing behaviour, moderating the pace of price increases.
North America
In Q1’26, the phenol price graph displayed upward fluctuations in the North American markets. The phenol price trend was supported by strong cost pass-through from crude oil and feedstock markets. In the beginning of the year, the prices were stable and witnessed limited oscillations.
Downstream demand from bisphenol A and related sectors remained consistent and buyer were optimistic as the downstream sector reopened after the New Year Holidays. However, as the quarter progressed, crude oil skyrocketed driven by the Iran war disruptions. As the freight rates increased along with the insurance costs, the prices of all crude oil derived products rose in the last of the quarter.
Analyst Insight
According to Procurement Resource, phenol prices are expected to remain motivated in the near term, supported by sustained cost pressures and tight supply, though demand sensitivity may lead to short-term fluctuations.
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| Product | Category | Region | Price | Last Updated Month |
| Phenol | Chemicals | Chine | 928 USD/MT | October 2025 |
| Phenol | Chemicals | Chine | 822 USD/MT | December 2025 |
| Phenol | Chemicals | India | 949 USD/MT | October 2025 |
| Phenol | Chemicals | India | 918 USD/MT | December 2025 |
| Phenol | Chemicals | German | 848 USD/MT | October 2025 |
| Phenol | Chemicals | German | 890 USD/MT | December 2025 |
| Phenol | Chemicals | America | 1010 USD/MT | October 2025 |
| Phenol | Chemicals | America | 1127 USD/MT | December 2025 |
Asia
The Chinese phenol market experienced progressive weakness throughout the fourth quarter, with prices declining from their opening levels as supply-demand imbalances intensified. The prices were about 928 USD/MT (FOB, 99.99%) in October and around 822 USD/MT in December. The period began with modest softening that accelerated as the quarter advanced, reflecting persistent oversupply conditions and subdued downstream consumption. New capacity additions, including the completion and stable operation of a major phenol-acetone facility, increased total market supply significantly. Maintenance activities at multiple units provided temporary relief, though overall operating rates remained elevated at around seventy-five percent. Raw material costs offered limited support as benzene and propylene markets weakened simultaneously, with benzene declining notably and propylene reaching new lows. Demand from key downstream sectors remained disappointing, with bisphenol-A producers reducing procurement due to weak polycarbonate and epoxy resin markets. Operating rates in derivative sectors declined as buyers maintained cautious, need-based purchasing strategies. Import arrivals continued throughout the quarter, adding to supply pressures despite stable port inventory levels. Meanwhile, Indian phenol markets displayed initial stability during the opening phase before entering decline through the latter portion of the quarter. Downstream sectors maintained conservative buying approaches as market sentiment remained cautious during the period. The prices were about 949 USD/MT (Spot) in October and around 918 USD/MT in December.
Europe
European phenol markets, particularly in Germany, experienced steady appreciation throughout the quarter despite facing structural cost challenges. The prices were about 848 USD/MT (FD, 99.99% Min) in October and around 890 USD/MT in December. Production economics remained under pressure from elevated electricity costs, though prices advanced progressively as the period unfolded. High energy expenses continued impacting manufacturing costs, with naphtha-based feedstock adding to production burdens. The European phenolics chain faced rationalization pressures due to cost disadvantages compared to Asian and Middle Eastern producers, though pricing strengthened through the quarter. Demand from downstream applications remained moderate as end-users navigated challenging market conditions.
North America
North American phenol markets displayed consistent strengthening throughout the fourth quarter, with prices advancing steadily from opening levels. Domestic production remained stable as feedstock availability supported normal operating rates. Demand from downstream sectors including bisphenol A, phenolic resins, and various chemical intermediates maintained steady consumption patterns. The prices were about 1010 USD/MT (FOB, 99.99% Min) in October and around 1127 USD/MT in December. The appreciation reflected balanced supply-demand fundamentals and stable cost structures throughout the period.
About Phenol
Phenol is both a manufactured chemical as well as a natural substance. It belongs to aromatic group. It can be a colourless-to-white solid in its pure form. Phenol has a distinct odour which is sickeningly sweet and tarry. It is a crucial commercial commodity and is used as an intermediate to produce bisphenol A.
Phenol Product Detail
Chemical Formula
C6H6O
Cas Number
108-95-2
Molecular Weight
94.11g/mol
Industrial Uses
Abrasives, Adhesives and sealant chemicals, Finishing agents, Flame retardants, Intermediates, Ion exchange agents, Laboratory chemicals, Plasticisers
Synonyms
Carbolic acid, Hydroxybenzene, Phenic acid
Supplier Database
Shell Chemical Co, INEOS Phenol GmbH, Compañía Española de Petróleos, S.A.U., Mitsui Chemicals Inc., Kumho P&B Chemicals, Inc., LG Chem Ltd., Taiwan Prosperity Chemical Corporation, Honeywell International Inc., Solvay SA
Regional Coverage
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
CurrencyUS$ (Data can also be provided in local currency)
Supplier Database AvailabilityYes
Customization ScopeThe report can be customized as per the requirements of the customer
Post-Sale Analyst Support360-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.
Phenol Production Process
- Production of Phenol via Benzene and CG Propylene; via Cumene; via Toluene; and via Benzene
The production of phenol from toluene is basically an oxidation process. This reaction is carried out in a liquid phase and toluene is further processed to form benzoic acid as an intermediate in the production of Phenol.
Frequently Asked Questions
During Q1 2026, phenol prices increased strongly in India and China. In India, prices rose by approximately 22%, while China recorded a sharper increase of around 40%. The rise was driven by higher benzene and propylene costs, logistics disruptions affecting petrochemical supply chains, reduced import availability, and firm demand from bisphenol A, phenolic resins, and caprolactam producers. However, concerns about longer-term oversupply continued to limit stronger speculative buying in parts of Asia.
Quarter-on-quarter, phenol prices increased in both India and China during Q1 2026. In India, phenol prices recorded a ~4% increase from Q4 2025 to Q1 2026, while in China they recorded a ~15% increase over the same period. The stronger rise in China reflected tighter spot availability, higher feedstock costs, and firmer downstream buying.
The phenol outlook for 2026 remains mixed. Prices may remain supported by demand from bisphenol A, phenolic resins, caprolactam, adhesives, and engineering plastics, as well as fluctuations in benzene and propylene costs. However, significant new capacity additions in China and ongoing oversupply concerns could limit sustained price increases despite periodic supply disruptions and feedstock volatility.
The main factors affecting phenol prices in Q1 2026 were feedstock cost pressure and tighter supply. Higher benzene and cumene prices increased production costs, while reduced spot availability supported stronger offers. Demand from bisphenol A, phenolic resins, adhesives, and caprolactam remained firm, helping prices rise sharply, especially in China.
Major phenol markets include China, India, the United States, Germany, South Korea, Japan, Thailand, Saudi Arabia, Taiwan, Belgium, and the Netherlands. Key companies include INEOS, Shell, Kumho P&B Chemicals, LG Chem, Mitsubishi Chemical Group, Mitsui Chemicals, PTT Global Chemical, Formosa Chemicals, AdvanSix, Deepak Phenolics, CEPSA Chemicals and Haldia Petrochemicals.
A major recent development was Haldia Petrochemicals’ phenol-acetone project in Haldia, being developed through Adplus Polymers & Chemicals. The approximately ₹6,000 crore project includes India’s first on-purpose propylene plant and the country’s largest phenol production facility. The project moved closer to commissioning in 2026 and is expected to strengthen domestic phenol supply while reducing import dependence.
Phenol is mainly produced through the cumene process, using benzene and propylene as key feedstocks. Cumene is oxidized into cumene hydroperoxide and then cleaved into phenol and acetone. The value chain includes benzene, propylene, cumene, phenol, acetone, and downstream use in bisphenol A, phenolic resins, caprolactam, alkylphenols, pharmaceuticals, adhesives, and engineering plastics.
Phenol demand is mainly driven by bisphenol A, phenolic resins, caprolactam, epoxy resins, polycarbonates, nylon 6, adhesives, laminates, foundry binders, insulation materials, coatings, pharmaceuticals, and agrochemical intermediates. Bisphenol A remains important because it is used in polycarbonate plastics and epoxy resins, while phenolic resins support construction, automotive, electrical, and wood-product applications.
A key 2026 policy development affecting phenol was India's temporary customs-duty exemption on phenol and several petrochemical intermediates under Notification No. 12/2026-Customs. Effective from April 2 through June 30, 2026, the measure was introduced in response to supply-chain disruptions linked to the West Asia conflict. The exemption improved import economics supported domestic supply stability, and reduced cost pressure for downstream industries including plastics, packaging, pharmaceuticals, automotive components, and chemicals.
Procurement Resource employs a structured methodology combining primary research, secondary market data, analytical models, and validation processes to assess phenol prices and trends. Price evaluations incorporate supply-demand dynamics, feedstock movements, trade flows, and value chain analysis, supported by continuous market monitoring to ensure accurate and reliable insights.
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Other Related Reports
Phenol Production from Benzene via Oxidation
This report provides an extensive cost evaluation of Phenol production via the oxidation of Benzene.
Phenol Production from Toluene
This process to produce phenol consumes toluene as the main ingredient. This process is basically an oxidation process.
Phenol Production from cumene
This process to produce phenol is same as the hydroperoxidation process.
Phenol Production from Benzene and CG propylene
This process for the production of phenol consumes benzene and chemical grade propylene as the main ingredients.
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