Outlook for 2024: Limited demand and cautious planning

The ICIS forecast underlines that average prices of Asia oxo-alcohols are expected to decline by 25-28% in 2024, largely caused because of new supply from the China capacity expansion plans in 2024. Demand recovery is expected to face some challenges because of the weak global economy and geopolitical instabilities.

• Tight import supply lends support to Asia, Panama Canal logistics issues compound snug supply
• Demand recovery for oxo-alcohols and plasticisers in 2024 to remain sluggish in Asia, Europe
• European contract discussions commence; market participants cautious

In this podcast, ICIS editors Nicole Simpson and Julia Tan discuss the 2024 outlook for oxo-alcohols and plasticisers in Asia and Europe.