In Q1 2025, C9 Solvent prices experienced a modest increase, rising from USD807 in January to USD 820 in March, a 1.16% increase. This slight upward movement was driven by slightly improved demand as industries started to recover post-winter.
The price increase in March 2025 could be attributed to a mild recovery in the global market, along with a temporary stabilization in feedstock prices. Although the market remained relatively weak, this uptick reflected a small rebound in demand and slight adjustments in supply-demand balance.
In Q1 2025, Ex-Mumbai C9 Solvent prices saw a recovery, increasing from INR 82,677.5/ton in December 2024 to INR 86,650/ton by March 2025, reflecting a 4.77% increase. This rebound was driven by a slight uptick in demand as industries began to recover from the seasonal slowdown. Key sectors, including paints and coatings, showed signs of improved consumption, leading to higher buyer inquiries.
Additionally, feedstock prices stabilized, providing a more balanced cost structure for manufacturers. The recovery in prices reflected the shifting dynamics as demand picked up, although the market remained cautious.
According to the PriceWatch, In Q2 2025, C9 Solvent prices on an FOB Busan, South Korea basis experienced a noticeable decline over the quarter. The price drop was primarily driven by softer demand from downstream industries such as coatings, adhesives, and paints, coupled with stable to ample supply levels. Producers maintained consistent output, leading to sufficient availability in the market, while buyers adopted a cautious procurement approach amid ongoing economic uncertainties.
Freight rates remained relatively steady, indicating that the decline was mainly demand-driven rather than logistics-related. By the end of the quarter, C9 Solvent prices stood at USD 790 per ton FOB Busan, reflecting a bearish market sentiment and subdued buying activity.
According to the PriceWatch, in Q2 2025, C9 Solvent prices on a CIF India basis experienced a decline driven by weakened demand and steady supply conditions. Downstream sectors such as coatings, adhesives, and paints maintained cautious buying amid ample inventory levels and economic uncertainties. Importers faced competitive offers from key exporting regions, which added to the downward pressure on prices.
Freight rates remained relatively stable, suggesting that the price drop was primarily influenced by soft market demand rather than logistical factors. By the end of the quarter, C9 Solvent prices on a CIF India basis reflected a bearish trend, highlighting subdued buying interest and a well-supplied market environment.
According to the PriceWatch, in Q2 2025, C9 Solvent prices on an Ex-India basis experienced a decline, driven by softening demand from key domestic industries such as coatings, adhesives, and printing inks. Local suppliers maintained steady production levels, resulting in ample availability and increased competition within the market.
Buyers adopted a cautious approach to procurement amid economic uncertainties and sufficient inventory stocks, which put additional downward pressure on prices. Feedstock costs remained relatively stable, indicating that the price decrease was mainly demand-driven. Overall, the Ex-India market for C9 Solvent trended lower throughout the quarter, reflecting a bearish sentiment amid subdued consumption and balanced supply conditions.
In Q3 2025, the global C9 solvent market exhibited a mixed pricing pattern, with some regions showing minor upward adjustments while others experienced more pronounced declines, resulting in an overall downward trend. Weaker demand from key downstream sectors particularly paints, coatings, adhesives, and rubber processing across several regions including East Asia and Europe contributed to the softening prices.
Additionally, ample supply availability, reduced feedstock costs from pyrolysis gasoline (Pygas), and subdued buying sentiment in export markets like Southeast Asia and Africa further weighed on prices.
South Korea: C9 Solvent Export prices FOB Busan, South Korea, Grade- Industrial Grade Water White (Aromatic Wt. 99% min).
In Q3 2025, C9 solvent prices in South Korea declined by approximately 3%, reflecting a softening in regional demand and improved supply availability. C9 solvent price trend in South Korea decrease was primarily driven by ample inventory levels, coupled with reduced procurement activity from downstream industries such as coatings, adhesives, and rubber processing.
Additionally, stable to slightly lower feedstock prices, particularly from reformate and pyrolysis gasoline (Pygas), contributed to easing production costs for C9 solvent price in South Korea in September 2025. Competitive pricing from other Northeast Asian suppliers also pressured domestic producers to adjust prices downward.
Despite the price dip, overall market fundamentals remained balanced, with no major supply disruptions. However, if demand picks up in the coming quarter particularly from the export or construction sectors C9 solvent prices may recover moderately, depending on upstream cost trends and refinery output levels.
India: C9 Solvent import prices CIF Nhava Sheva, India, Grade- Industrial Grade Water White (Aromatic Wt. 99% min).
According to PriceWatch, in Q3 2025, C9 solvent price trend in India, particularly on a CIF Nhava Sheva and Ex-Mumbai basis remained relatively stable, despite fluctuations in global solvent markets.
A key factor supporting this C9 Solvent price in India stability was the moderation in FOB prices from key exporting countries in Asia, including South Korea and China, which helped offset cost pressures. Simultaneously, the recent stabilization of the USD/INR exchange rate reduced volatility in import costs, creating a more predictable pricing environment for Indian buyers.
While demand from downstream sectors such as paints, coatings, and resins remained steady, abundant supply and competitive offers in the regional market kept price movements limited. As a result, despite broader market softening in parts of Asia. In September 2025 C9 solvent price trend in India held firm, supported by currency stability and easing upstream FOB values.
The quarter ended with prices dropping modestly, driven by low demand in the paint, coating, and adhesive industries and steady prices for aromatics feedstocks. The market participants adopted a prudent approach to purchasing, helped by adequate stock positions, preventing further price hikes.
While December saw a slight improvement with a marginal fall in prices due to year-end stock management and restocking, the market mood is still weak, with balanced supply and demand dynamics.
South Korea: C9 Solvent Export prices FOB Busan, South Korea; Grade- Industrial Grade Water White (Aromatic Wt. 99% min)
As per the fourth quarter of 2025, the C9 solvent price in South Korea showed a fall by 4.50% on an average basis, which can be attributed largely to the lower demand from downstream applications such as coatings, paints, and adhesives, along with the stable to soft aromatics feedstocks.
In South Korea, C9 solvent price in December 2025 have witnessed a slight decline of 2.00%. The overall the C9 solvent price trend in South Korea during December shows that cautionary purchasing methods and ample supply have restrained the prices despite the bearish market sentiments.
India: C9 Solvent import prices CIF Nhava Sheva, India; Grade- Industrial Grade Water White (Aromatic Wt. 99% min)
In Q4 2025, C9 solvent price trend in India declined by 2.00% on a quarterly average, reflecting subdued demand from downstream sectors such as paints, coatings, and adhesives, along with relatively stable aromatics feedstock costs.
In India C9 solvent price in December 2025 moderated, recording a smaller decline of 1.50%, indicating slight stabilization driven by year-end inventory adjustments and limited restocking activity.
Overall, the C9 solvent price trend in India in December highlights how cautious procurement, sufficient import availability, and comfortable inventory levels helped partially limit price erosion, even as market sentiment remained soft due to weak consumption and adequate supply.