According to the ChemAnalyst, “In the fourth quarter of 2023, the North American region experienced a notable decline in Heavy Liquid Paraffin prices, attributed to various factors. Firstly, the market faced instability and subdued demand, particularly from end-users in the nutraceutical and pharmaceutical sectors.”
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Liquid paraffin, also known as mineral oil, is a versatile and widely used substance with various applications across industries. Its prices fluctuate based on several factors, including global demand, supply chain dynamics, crude oil prices, and regulatory changes. The cost of liquid paraffin is heavily influenced by the fluctuations in crude oil prices since it is derived from petroleum. Additionally, geopolitical tensions, natural disasters, and economic conditions in major oil-producing regions can impact the supply and pricing of liquid paraffin.
Furthermore, regulatory policies regarding environmental standards and production processes can also affect its pricing by adding compliance costs. Market trends, such as shifts in consumer preferences towards natural or organic products, can also influence the demand for liquid paraffin and consequently its prices. Moreover, technological advancements and innovations in the extraction and refining processes may affect production costs and subsequently impact pricing. In recent years, there has been a growing emphasis on sustainable and eco-friendly alternatives to traditional petroleum-based products, which could further influence the pricing dynamics of liquid paraffin. Overall, the pricing of liquid paraffin is a complex interplay of various factors, making it subject to fluctuations and volatility in the global market.
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