In Q1 2024, Monoisopropylamine (MIPA) prices in the USA fluctuated around a 2% increase compared to Q4 2023, with major exporting countries from the USA being India and Brazil. In the APAC region, MIPA prices saw a larger increase of approximately 8% compared to Q4 2023, with China being a major exporter to India and Turkey. These price changes reflect ongoing demand and supply dynamics in both regions.
In Q2 2024, MIPA prices in the USA saw a slight increase of around 0.24% compared to Q1 2024. The increase was largely driven by higher demand for automotive chemicals, particularly as electric vehicle production ramped up. In the APAC region, MIPA prices decreased by about 1% compared to Q1 2024. Economic factors such as inflation, interest rates, and shifts in consumer spending patterns in the APAC region contributed to the lower prices.
In Q3 2024, MIPA prices in both the USA and APAC are expected to be influenced by continued growth in the automotive industry, especially with electric vehicle advancements. The demand for MIPA is expected to remain strong due to sustained production activity in these sectors. Any improvements or disruptions in supply chains will impact availability and pricing. In the USA, if production stabilizes, prices may level out or see modest fluctuations. In the APAC region, continued demand from infrastructure projects and automotive sectors may support steady consumption.
In Q4 2024, if supply chains in the USA have stabilized following previous disruptions, MIPA availability may improve, potentially moderating price increases. However, unexpected disruptions like natural disasters or geopolitical tensions could lead to price fluctuations. Economic factors such as inflation and interest rates will continue to impact consumer and industrial demand, affecting pricing strategies in the USA. In the APAC region, economic indicators such as inflation, interest rates, and overall economic growth will influence market dynamics. A stable economic environment in the region may support steady pricing. Increased competition among suppliers could also lead to price adjustments, potentially benefiting consumers by lowering prices.