As of July 2024, refined naphthalene prices are fluctuating, reflecting a 5% increase from the previous month. The Asia Pacific region is the largest consumer of Refined Naphthalene, with China leading the market due to high consumer demand and a strong presence of end-use industries.
In Q1, 2024, the naphthalene market in Asia Pacific saw a slight decrease in prices, with a fall of 2%. This is driven by the key factors driving influence increased demand from downstream sectors, especially within the dyes and pigment industries.
However, in Q2,2024, the refined naphthalene market in Asia Pacific saw a sustainable decrease in prices, with a decrease of 4 %. This is due to the various economy and market specific factors which also includes feedstock market.
InQ3, 2024, in this quarter the overall positive market environment played a role in driving up prices, as the shipping sector experienced rising demand and equipment challenges. This resulted in higher spot rates and surcharges, further affecting naphthalene prices.
In Q4, 2024, the price trend for Refined Naphthalene will be shaped by variations in both production levels and demand. These fluctuations will play a key role in determining how refined naphthalene prices move during this period.