ChemAnalyst is a reference for pricing and analyzing the purchase information of petrochemical products. This institute collects purchasing information through primary research polls with different paraffin producers in local and international markets, suppliers, sellers and distributors. This leads to conclusions about value chains and demand-supply scenario for evaluating the situation of the market. A thorough study of the annual reports of paraffin supply and production companies and secondary resources such as a comprehensive search at reliable monetary databases are performed for certifying the information. All the collected information is analyzed, evaluated and presented in chronological order to show a clear picture of purchasing and selling market of solid paraffin.
The price of paraffin increased in the first quarter of 2022 in the marker of North America. Demand remained stable from the downstream industries of paper and agriculture. However, a severe fall due to consecutive demand from the cosmetics and pharmaceuticals sections, increased the value of this product till the end of the quarter. The price of solid paraffin fell to 2,250 USD per ton, at the end of the first quarter of 2022 in North America.
The price of paraffin remained high in the market of Asia during the first quarter of 2022. In the first quarter, especially in March, during the tensions between Russia and Ukraine, the high value of upstream petroleum, effected on the cost of solid paraffin production. Disorder in the supply chain and increase in the price of petroleum, caused a shortage of supply to countries that import from China. The value of solid paraffin in China reached 1650 USD per ton.
In the market of Europe, the price of paraffin, remained high during the first quarter of 2022. Due to the consecutive increase in freight rate in the European region and the increase in production cost in China, the value of this product increased continuously during this period. The supply remained strong and the demand for paraffin wax from the downstream cosmetics industry, remained steady, during the winter. However, the demand from food industries was low. In March, the price of solid paraffin, increased significantly in the second half of the first quarter, for more than 7%, due to uncertainty in supply of materials during the crisis in the Eastern European region.
Analysis of determining the price of paraffin in the global market
Information regarding three criteria of the production capacity of a factory, production volume, and operational efficiency, is obtained directly from manufacturers. The information regarding the volume of import and export of solid paraffin, is also taken from governmental resources and the demand for paraffin is calculated upon considering the level of production, import, export and inventory in the markets of different countries and regions. The price of product is correlated with the flow of the price of petroleum, demand-supply gap, fluctuations of raw material and the movement of downstream market.
The initial details and information regarding the financial performance of global leading companies in the solid paraffin market are provided to economic analysts. The development plans and strategies of the companies are also considered to understand the outlook, and the economic mission of the company for the future for pricing solid paraffin.