For the Quarter Ending June 2023
North America:
In the North American region, the trend observed in the Beta Naphthol market displayed an upward trajectory in the initial month of the second quarter of 2023, followed by a consistent downturn in the subsequent months. The product experienced an ongoing surge in demand during April, which consequently triggered an increase in prices. The price escalation can be attributed to a temporary supply shortage, which presented a decisive factor in the market dynamics. However, in the following month, local market prices began to exhibit a downward trend. As May unfolded, the price of beta-naphthol in North American markets experienced a decline. This decline was driven by lower raw material costs for caustic soda, sulfuric acid, and naphthalene, ultimately resulting in reduced production costs for beta-naphthol in the domestic market. While demand across the food, preservatives, and textile industries remained moderate, the affordability of beta-naphthol played a vital role in reducing overall expenses. Moreover, the availability of cheaper imports and the decline in commodity prices contributed to the decrease in beta-naphthol prices throughout June. Although demand from the food and beverage as well as the textile industries remained relatively modest, the restricted availability of raw materials exerted substantial downward pressure on prices.
APAC:
In the Asia-Pacific region, the trend in the Beta Naphthol Market saw an initial increase during the first month of Q2 2023, followed by a consistent decline for the remaining quarters. During April, there was a continuous growth in demand for the product leading to an increment in its prices. This price surge was primarily due to a temporary shortage in spot availability. However, prices began to decline in regional markets early in the subsequent month. In May, the cost of Beta Naphthol decreased in the Asian market, primarily driven by the availability of lower-priced imports from China. Furthermore, the decline in prices was also influenced by reduced costs of raw materials such as caustic soda, sulfuric acid, and naphthalene, ultimately resulting in reduced manufacturing costs for Beta Naphthol in the domestic market. Despite moderate demand from the food, preservatives, and textile industries, the availability of Beta Naphthol at a lower cost played a significant role in mitigating overall expenses. Additionally, the price of Beta Naphthol declined in June due to the impact of inexpensive imports and declining feedstock prices. Consequently, despite moderate demand from the food and beverage as well as the textile industries, the availability of raw material at a reduced cost led to a substantial decrease in prices.
Get Real Time Prices of Beta Naphthol: https://www.chemanalyst.com/Pricing-data/beta-naphthol-1451
Europe:
In Europe, the Beta Naphthol market trend exhibited an initial increase in the first month followed by a consistent decline in the subsequent months during the second quarter of 2023. In April, there was a further surge in product demand which led to a subsequent rise in prices. The price escalation was primarily driven by short-term spot supply shortages. Subsequently, local market prices commenced a downward trajectory later in the quarter. In May, European markets experienced a decline in prices. The reduction in prices was attributed to the availability of cheaper imports and a decrease in feedstock costs. In June, prices saw further decrease due to reduced costs of caustic soda, sulfuric acid, and naphthalene. Lower production costs in the domestic market contributed to an overall decrease in costs. Demand from the food and beverages and textile industries was moderate. However, the availability of the product at low-cost played a significant role in the reduction of overall expenses. Although demand from the textile industry was modest, the scarcity of raw materials significantly impacted the overall cost reduction of the product.
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