ICIS - chemical podcasts
Episode 1266: Europe oxo-alcohols, derivatives endure weak demand amid economic woes, geopolitical tensions
Oct 29, 2024
Nicole Simpson, a Markets Reporter for Oxalcohols, shares insights into the stagnant demand in the European oxo-alcohol market, driven by economic woes and geopolitical tensions. Cameron Birch discusses the glycoether market's struggles, highlighting persistent price pressures. Mathew Jolin-Beech analyzes trends in acrylic esters, noting significant price declines and the automotive sector's impact on demand. Together, they explore the implications of these challenges on the broader chemical market.
09:46
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Quick takeaways
- The European oxo-alcohols market is currently facing weak demand driven by economic uncertainties and geopolitical tensions, impacting order volumes significantly.
- Supply levels in the glycoethers and acrylate esters markets remain stable, but declining prices reflect ongoing weak activity and cautious purchasing behavior.
Deep dives
Weak Demand in the Oxalcohols Market
The oxalcohols market is experiencing significant downward pressure due to weak demand, which has persisted throughout 2024 and worsened after the summer. Buyers have been taking fewer volumes than anticipated, with many even canceling or postponing orders, influenced by economic concerns and geopolitical tensions, particularly the violence in the Middle East. Although supply levels appear stable, with some producers redirecting efforts towards other derivatives, the primary focus remains on the alarming low demand. Additionally, there are worries about future imports as new capacity in Asia is expected to enter the market, potentially affecting Europe's position in sourcing oxalcohols.
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