Australia
Belgium
Brazil
Canada
China
Finland
Germany
India
Indonesia
Japan
Malaysia
Mexico
Netherlands
Singapore
Thailand
United States
South KoreaIn Q1 2025, the Phenol (Industrial Grade Purity: >99.5%) market recorded a mild reduction in prices with South Korea FOB Busan at $1015/MT, a drop of -2.40% compared to the previous quarter. The drop came due to a marginal fall in demand after the holiday season, mostly from the Packaging and Construction segments.
Though tight supply did exist, the high cost of production as well as overall global economic instability saw a drop in price. Also, logistical issues in major production areas kept impacting the supply chain, causing inefficiencies in distribution and production, which prevented prices from increasing any further.
Nevertheless, the market was quite stable as demand from necessary industries such as Medical and Consumer Goods kept offering some support.
According to the PriceWatch, In Q2 2025, the Phenol market in South Korea was under strong bearish pressure, and the price fell to USD 870 per metric ton, which was down by -13.9% Q-o-Q due to oversupply and lacklustre downstream demand. The Phenolic resin market saw muted trading during high inventories and risk-averse procurement practices, with large consuming sectors such as construction and auto industries witnessing sluggish recovery trends.
Even while lower-cost feedstock prices on Benzene softened some of the production strain, this was not sufficient to spark buying momentum over bearish sentiment. Export markets softened as Southeast Asian and Chinese markets showed superior local availability alongside strong price resistance from overseas buyers. Domestic use stayed soft with domestic manufacturing units retaining high stock levels, causing guarded buying choices and tardy procurement activity.
Transportation expense was flat with some decline but was not enough to counteract overall bearish sentiment in the market to influence trade volume. Traders used a just-in-time buying strategy, diminishing order frequency and volume, while warehouses regionally saw increased levels of use translating to inventory buildup in the supply chain. Competitive forces were increased as suppliers were more concerned with cash flow rather than margins, allowing for price negotiation to become buyer more favourable.
The quarter closed with persistent oversupply conditions and unsatisfactory downstream consumption to absorb incumbent inventories, resulting in a persistent bearish environment where economic uncertainty and volatile raw material markets remained in control of decision-making but had little price support as participants were struggling with unfavourable demand conditions and rolling over excess supply positions.
During Q1 2024, the Phenol market across the world experienced mixed trends in different regions. In South Korea FOB Busan, Phenol (Industrial Grade Purity: >99.5%) prices were $965/MT, registering a sharp fall of -11.55% compared to the last quarter.
The fall was primarily influenced by softening demand from major industry sectors such as Automotive and Electronics, which usually consume Phenol in huge quantities to manufacture Plastics and Resins. Furthermore, supply chain problems and decreased feedstock prices were also responsible for the price decline.
Nevertheless, in the USA, Thailand, and Singapore, the market was quite stable, thanks to moderate demand from the Construction and Packaging industries, which stabilized prices in these areas.
During Q2 2024, the downward price trend in South Korea FOB Busan persisted, with Phenol (Industrial Grade Purity: >99.5%) prices dropping to $954/MT, a marginal decline of -1.14% compared to Q1. The continued weakness in demand from the Automotive and Electronics sectors, coupled with ongoing supply chain disruptions, was the reason for this price drop.
Rising production capacities in Thailand and Singapore also contributed to the competitive market environment, exerting downward pressure on prices.
Conversely, in North America, the Medical and Consumer Goods sectors had very strong demand that kept any significant price falls from occurring. Moderate fluctuations in Europe were mostly a result of domestic supply constraints and issues related to new regulations.
By Q3 2024 early, South Korea FOB Busan Phenol (Industrial Grade Purity: >99.5%) prices started to recover, hitting $1013/MT in July, up by 6.14% from the month before. This increase in price was mainly attributed to a recovery in demand from the Automotive and Electronics industries as economic conditions improved globally, and consumer demand picked up.
Moreover, global tightness in supply was caused by maintenance shutdowns in principle producing areas, which, together with increasing crude oil prices, placed pressure on Phenol production costs in the upward direction. APAC freight rates were also high and contributed to overall price increases.
South Korea FOB Busan (Industrial Grade Purity: >99.5%) Phenol prices were still appreciated in Q4 2024 to reach $1040/MT, an increase of 2.71% over Q3. Demand from Packaging and Construction grew even stronger during the period as consumers prepared to purchase more just ahead of festive holidays. An appreciation in the costs of feedstock, and particularly benzene, which is key for Phenol manufacture, only exacerbated supply tightening.
Stricter environmental regulations in major countries such as the USA and South Korea also contributed to increased costs of production and lower output. These, coupled with increasing energy prices, are factors that contributed to the ongoing upward pressure on prices.
In Q1 2025, India Ex-Kandla Phenol (Industrial Grade Purity: >99.5%) prices dipped again to $960/MT, a –11.93% drop from Q4 2024. The market remained subdued with low demand from major sectors since most industries tend to move slowly in the first quarter of the year.
Elevated inventory levels and nervous buyer sentiment because of recent price volatilities also led to the price decline. Most buyers waited and watched, further suppressing prices.Â
According to the PriceWatch, India (Ex-Kandla) Phenol prices, increased to USD 987.7 per metric ton for Q2 2025, a quarterly increase of +2.07%. This minor increase was brought about by relentless demand from India’s local resin and laminates business. While the world was presented with the economic test and lacklustre export demand, India’s downstream markets were quite strong.
The construction industry and furniture industry held firm buying levels due to pre-monsoon project activity. Pre-monsoon restocking in anticipation of the monsoon improved strong offtake in certain markets. Finally, Q2 concluded on a soft price rally fueled by strong downstream demand from building, automotive, and electronic industries.
Also, foreign crude volatility influenced foreign phenol prices, and Indian dependency on imports during off-season domestic capacity times even led to the degree of pinching foreign supply, particularly from Southeast Asia and the Middle East. The Indian economy also benefited from improved logistics infrastructure as well as well-disciplined port operations that facilitated smoother import flows even in episodes of periodic supply chain breakdown.
Domestic wholesalers had smooth inventory turnovers, which reflected strong demand absorption at major industrial hubs such as Mumbai, Delhi, and Chennai. INR-USD exchange rate volatility made it difficult to estimate the exchange rate for importers, and they used hedging to hedge exchange rate risk.
Besides, the shift in environmental policy regarding compliance encouraged some downstream manufacturers to re-orient their patterns of using phenol, and quarter demand patterns become healthier, therefore. The overall sentiment in the market was optimistic but cautious, since market specialists felt that the stability would be transferred to following months. Â
In Q1 2024, the Indian Phenol (Industrial Grade Purity: >99.5%) market (Ex-Kandla) registered a minor decline with prices at $1090/MT, registering a –0.46% decrease compared to the last quarter. The fall was primarily caused by demand stabilization from downstream industries such as laminates, resins, and pharmaceuticals.
Most producers were running with adequate inventory inherited from the fourth quarter of 2023, lowering the urgency of immediate buying. Moreover, demand normally dips in the post-festival season, which supports the moderate market activity.Â
In Q2 2024, Ex-Kandla Phenol (Industrial Grade Purity: >99.5%) prices went up to $1170/MT, representing a +7.34% increase from Q1. The price rise was underpinned by robust seasonal demand in the manufacturing and construction industries, especially in commodities such as plywood, coatings, and industrial resins.
Increase in infrastructure activity, coupled with imbalanced vessel schedules and increasing port congestion, drove up the cost. Overall domestic demand was robust, and it helped support the bullish trend.Â
During Q3 2024, Ex-Kandla Phenol (Industrial Grade Purity: >99.5%) prices went up to $1180/MT, demonstrating a +0.85% growth compared to the last quarter. Healthy domestic consumption, particularly in the laminate and real estate-related industries, continued to pick up after the monsoons.
Despite the moderate growth in demand, limited vessel arrival and minor delay at Kandla port caused a contained supply scenario. This supported the market and did not allow prices to plummet drastically.Â
By Q4 2024, Ex-Kandla Phenol (Industrial Grade Purity: >99.5%) prices fell to $1090/MT, down –7.63% from Q3. Even though there were high hopes of high demand during the festive season, actual buying failed to live up to earlier estimates.
Most downstream participants had already stocked up in Q3, resulting in a surplus situation. Coupled with year-end slowdowns and less industrial activity, this resulted in a weakening in the market.Â
Molecular Weight[g/mol]
CAS No
HS Code
Molecular Formula
Phenol is a versatile organic compound, widely used as a precursor in the production of plastics, resins, and adhesives. It serves as a key raw material in the manufacture of Bisphenol A, Caprolactam, and other industrial chemicals. Phenol is also employed in pharmaceuticals, disinfectants, and dyes due to its antiseptic properties. Known for its strong aromatic odor, it is primarily derived from petroleum feedstocks like benzene.
Packaging Type
Phenol Grades Covered
Incoterms Used
Synonym
PriceWatch Quotation Terms:
Ex-Location: This incoterm refers to a shipping agreement where the seller makes the goods available at their premises, and the buyer is responsible for all transportation costs, including shipping, insurance, and any other fees.
CIF: CIF refers to the Cost, Insurance, and Freight (CIF) terms for goods. Under CIF terms, the seller is responsible for the cost of goods, insurance, and freight charges until the goods reach the port of destination.
FD: FD stands for Free Delivered where the seller takes full responsibility for delivering goods to the location/port. This ensures the buyer receives the goods at the designated port with all necessary costs, except import duties, covered.
FOB: FOB refers to the Free On-Board shipping term, where the seller is responsible for the cost and risk of delivering the goods to the port. Once the goods are on board the vessel, the responsibility shifts to the buyer for all costs, including shipping and insurance.
| Property  | Specifications |
| Appearance (Molten State) | Clear water white liquid |
| Appearance (Solid State) | White crystalline mass |
| Color, APHA (Molten) | 20 Max. |
| Purity, Wt. % | 99.6 Min. |
| Water, Wt. %Â | 0.03 Max. (at loading) 0.1 Max. (at receipt)Â |
| Solidification Point, ºC | 40.6 Min. |
Phenol Applications
Phenol is primarily used as a key raw material to produce various chemicals, including BisPhenol A (used in plastics), Caprolactam (for nylon production), and Phenolic resins (found in adhesives and coatings). It is also used to make pharmaceuticals, disinfectants, and herbicides. Phenol plays an important role in industries like automotive, construction, and healthcare due to its versatility and wide range of applications.
These events highlight the Phenol market’s sensitivity to global disruptions, especially related to energy and supply chain dynamics. Constant monitoring of these factors is crucial for anticipating price movements.
PriceWatch is your trusted resource for tracking global phenol price trends. Our platform delivers real-time data and expert analysis, offering deep insights into the key factors driving price fluctuations in the phenol market. By monitoring critical events such as geopolitical tensions, supply chain disruptions, and economic shifts, PriceWatch keeps you fully informed of market dynamics.
In addition, PriceWatch provides detailed forecasts and updates on production capacities, enabling you to anticipate market changes and make well-informed decisions. With PriceWatch, you gain a competitive edge in understanding all the elements that influence phenol prices worldwide. Stay ahead of the curve with PriceWatch’s reliable, accurate, and timely phenol market data.
Track PriceWatch's phenol price assessment on a weekly basis since 2015 onwards, along with short-term forecasts, and get access to the detailed report in a downloadable format.
This research methodology ensures that PriceWatch delivers the most accurate, timely, and actionable Phenol pricing assessments, helping our clients stay ahead of market trends and make well-informed business decisions.
Molecular Weight[g/mol]
CAS No
HS Code
Molecular Formula
Phenol is a versatile organic compound, widely used as a precursor in the production of plastics, resins, and adhesives. It serves as a key raw material in the manufacture of Bisphenol A, Caprolactam, and other industrial chemicals. Phenol is also employed in pharmaceuticals, disinfectants, and dyes due to its antiseptic properties. Known for its strong aromatic odor, it is primarily derived from petroleum feedstocks like benzene.
Packaging Type
Grades Covered
Incoterms Used
Synonym
PriceWatch Quotation Terms:
Ex-Location: This incoterm refers to a shipping agreement where the seller makes the goods available at their premises, and the buyer is responsible for all transportation costs, including shipping, insurance, and any other fees.
CIF: CIF refers to the Cost, Insurance, and Freight (CIF) terms for goods. Under CIF terms, the seller is responsible for the cost of goods, insurance, and freight charges until the goods reach the port of destination.
FD: FD stands for Free Delivered where the seller takes full responsibility for delivering goods to the location/port. This ensures the buyer receives the goods at the designated port with all necessary costs, except import duties, covered.
FOB: FOB refers to the Free On-Board shipping term, where the seller is responsible for the cost and risk of delivering the goods to the port. Once the goods are on board the vessel, the responsibility shifts to the buyer for all costs, including shipping and insurance.
| Property  | Specifications |
| Appearance (Molten State) | Clear water white liquid |
| Appearance (Solid State) | White crystalline mass |
| Color, APHA (Molten) | 20 Max. |
| Purity, Wt. % | 99.6 Min. |
| Water, Wt. %Â | 0.03 Max. (at loading) 0.1 Max. (at receipt)Â |
| Solidification Point, ºC | 40.6 Min. |
Applications
Phenol is primarily used as a key raw material to produce various chemicals, including BisPhenol A (used in plastics), Caprolactam (for nylon production), and Phenolic resins (found in adhesives and coatings). It is also used to make pharmaceuticals, disinfectants, and herbicides. Phenol plays an important role in industries like automotive, construction, and healthcare due to its versatility and wide range of applications.
The pricing of phenol is influenced by several key factors, including the cost of feedstocks such as benzene and propylene, fluctuations in crude oil prices, and demand from downstream industries like plastics, resins, and pharmaceuticals. Environmental regulations and production capacity constraints can also impact availability and pricing. Additionally, geopolitical events and supply chain disruptions may lead to price volatility, making it crucial for procurement heads to stay informed about market trends and developments.
Raw material costs, particularly for benzene, play a significant role in determining phenol prices. When the prices of benzene and propylene rise due to increased demand or supply chain issues, phenol prices typically follow suit. Conversely, if raw material costs decrease or if there is an oversupply, phenol prices may decline. Procurement teams should closely monitor raw material markets and establish strong supplier relationships to negotiate better pricing and ensure stable supply.
Phenol prices can vary by region due to differences in raw material availability, production capabilities, and local demand conditions. For example, regions with robust petrochemical industries, like North America and Asia, may have different pricing structures compared to Europe, where regulations can increase production costs. Understanding these regional variations enables procurement heads to optimize sourcing strategies by identifying cost-effective suppliers and potentially leveraging lower-priced markets to improve overall procurement efficiency.
The future pricing of phenol is likely to be influenced by ongoing trends in raw material costs, regulatory changes, and global economic conditions. Procurement heads should anticipate fluctuations caused by changes in crude oil prices, shifts in demand from key industries, and sustainability initiatives affecting production methods. To prepare, procurement teams should actively monitor market reports, consider securing long-term contracts with suppliers, and diversify their sourcing strategies to mitigate risks associated with sudden price increases.