First Quarter of 2023 in Asia Pacific Beta Naphthol Prices

North America

During Q1 2023, the North American market struggled due to prolonged dullness in market activities amidst escalating inflation. Beta Naphthol Prices remained fluctuating throughout the quarter, where regular price revisions were observed owing to changing market supplies amidst slowly improving demand on the arrival of the summer season. Furthermore, under the influence of the persistent winter season in the country during early Q1 2023, the demand for Beta Naphthol was low from the insecticide market. However, demand for the product from the downstream insecticides market maintained overall stability during the second half of the quarter, and traders were optimistic about the future demand for the product as the summer season was arriving slowly.

Asia

The Asian market showcased bullish sentiments during the second half of Q1 2023, owing to an improvement in demand from the downstream industries. In March 2023, the price of a product in India increased by 10.4% due to the seasonal demand surge in downstream industries, which is typical during the summer season. The market situation is currently bullish, and the supply of the product is moderate, with uninterrupted production activities. The upward trend in prices was partly influenced by expensive imports. The demand for the product is moderate to high, with key players and traders securing cargo for future months. This positive market sentiment is expected to result in further upward trends in prices in the upcoming month.

Europe

The European market has been battling with high inflation and slow economic activities, which was dragging major economies like the UK close to recession. At the same time, demand for Beta Naphthol remained low to moderate throughout the quarter, and multiple price revisions were observed, primarily driven by other factors like imports and falling freight charges at major trade routes. However, the ongoing winter season was the prime factor behind low demand from the domestic insecticides market, which later started putting an optimistic outlook in the market during the end of the quarter. Further, demand for insecticides from the domestic agriculture sector remained low owing to the seasonal lull.

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