2-propenenitrile Price Trend and Forecast

2-propenenitrile Regional Price Overview

Get the latest insights on price movement and trend analysis of 2-propenenitrile in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

2-Propenenitrile Price Trend for the First Half of 2023

Asia

In Asia, the prices of 2-Propenenitrile followed a downward trajectory as the demand from the acrylates, rubber, and elastomer sectors decreased significantly, and as a result, the level of inventories rose in the first half of the first quarter. In the subsequent months of the first quarter and throughout the second quarter, the market of 2-Propenenitrile struggled to maintain its momentum.
 

2-Propenenitrile Price Chart

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The mid-phase of the first quarter saw a slight rise in demand for 2-Propenenitrile from retail industries and limited availability of the product, but soon enough, production countered this problem, and the prices again began to decline. In addition to this, the support from the feedstock materials was also feeble, and with the oscillating trend in crude oil prices, the 2-Propenenitrile market plummeted in H1’23.

Europe

A fluctuating trend in the prices of 2-Propenenitrile was observed in the European region. The prices suffered from the shaky demand from the acrylates and rubber industries and gradually falling feedstock prices. In addition to this, the fertilizers sector and the reduction in natural gas prices led to a reduction in the costs of production.

However, in the middle months of the first quarter, the prices surged significantly because of the restricted supply of feedstock propylene from Russia. In certain areas, the manufacturing plants underwent temporary shutdown, which again had a negative impact on the product’s availability in the market and supported the stable movement of prices in the second quarter too.

North America

In the initial phase of the first quarter, the prices declined in the North American region. The factor which majorly affected this trend was the steep decline in the demand for the commodity from the downstream industries such as rubber and elastomers.

In the latter half of the first quarter of 2023 and throughout the second quarter, the prices struggled to maintain their momentum amid stagnant suppl-demand statistics and increasing volatility of crude oil prices, which finally resulted in the stability in the 2-Propenenitrile market at the end of the second quarter.

Analyst Insight

According to Procurement Resource, the price of 2-propenenitrile is estimated to showcase an oscillating trend in the upcoming quarter as the global market is still recovering from the low demand from the downstream industries and volatility in the feedstock market.
 

2-Propenenitrile Price Trend for the Second Half of 2022

Asia

2-Propenenitrile (acrylonitrile) performed very poorly in the Asian market in H2 2022. The declining feedstock ammonia and propylene prices decline amidst feeble demand from the downstream ABS rubber industries further aided this price. Export resumption from China was the major reason for supply opulence, especially in Asia. Inventory stocks were already full and downstream demands stayed at record lows. So ample supply amid bad purchasing activities led to the declining price trend for 2-Propenenitrile.

Europe

For Europe, H2 2022 started with high-riding price trend of 2-Propenenitrile. The economic crisis unveiled by Russia-Ukraine gave rise to runaway inflation. These high values deeply impacted the petrochemical industries. The acrylonitrile prices increased given the high demand amid already constricted supplies. But as Q4 approached, though ammonia and propylene availability were still not sufficient, the market demand dropped drastically. Bearish demands started pulling the price curve down, so the year ended with lowered prices for 2-Propenenitrile.

North America

The US domestic market closely mimicked the price trend of the Asian market. The diminished offtakes from the market remained the major driving factor for 2-Propenenitrile prices. The reduced inquiries from the downstream rubber and polymer industries amid sufficient supplies caused the prices to decline.

Analyst Insight

According to Procurement Resource, the price trend for 2-Propenenitrile are expected to remain fluctuating in the coming quarter. As the supply chains are being normalised, consumer demand amid rising inflation will remain the crucial determining factor.
 

2-propenenitrile Price Trend For the First Half of 2022

Asia

During the first quarter, the price trend for 2-Propenenitrile registered an oscillating pattern. Due to the heightened oil and freight charges, feedstock propylene and ammonia prices soared. The cost of feedstock propylene averaged 1027-1073 FOB Busan. However, due to the supply-demand mismatch, the market prices kept fluctuating.

However, the prices weakened in the second quarter for several reasons. After the upliftment of covid restrictions, the run rate of refineries increased; thus, the production of naphtha as a by-product increased, leading to the prices dropping. Amidst the lowered upstream costs and the rising freight charges, the prices of 2-Propenenitrile kept stable and averaged 1780 USD/MT CFR Qingdao.

Europe

Owing to the robust downstream demand for Acrylonitrile butadiene styrene (ABS) in the European market and the supply-side shortages, the prices of 2-Propenenitrile remained strong throughout the first quarter. The feedstock ammonia and propylene prices averaged 919-988 US/MT (Baltic) and 1370 USD/MT FOB Germany, respectively. In the second quarter, the prices began to decrease as the supply-side constraints relaxed. The price of 2-Propenenitrile averaged 1985 USD/MT FD Rotterdam towards the end of the second quarter.

North America

The US domestic market registered the same global price trend for 2-Propenenitrile. The prices soared during the first quarter but stabilized during the second. In the second quarter, the great production and stockpiles of feedstock ammonia increased, which decreased the upstream costs, whose effects were also felt in the downstream sectors.

Procurement Resource provides latest prices of 2-Propenenitrile. 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.