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Liquid Paraffin Pricing, Demand and Supply Overview
Liquid paraffin is a highly refined mineral oil derived from petroleum through vacuum distillation and hydrotreatment of naphthenic and paraffinic base stocks. The largest demand pull comes from pharmaceutical excipient and laxative applications, followed by personal care and cosmetic formulations, and plastics and rubber processing lubricant use. Crude oil feedstock costs, pharmaceutical and personal care sector demand, and regional refining capacity all feed into the price.
Global liquid paraffin prices tracked close to the USD 0.96 to USD 1.10 per KG range projected for 2026, as crude firming and pharma demand supported the tone. US prices averaged USD 1.05 per KG in Q1 2026, up 9.4 percent from Q4 2025, as Middle East Hormuz disruptions raised crude oil and base oil feedstock costs sharply while pharmaceutical and personal care sector procurement maintained consistent buying. China's large refining capacity kept it the most affordable source, while Germany remained the highest-cost reporting region.
What is Liquid Paraffin Price in August 2026?
Liquid paraffin prices held a firm tone through August 2026, tracking close to the Q1 2026 levels across all tracked regions, as elevated crude oil and base oil feedstock costs and steady pharmaceutical and personal care demand continued to support the market.
- North America (US): US liquid paraffin prices held near USD 1.02 to USD 1.08 per KG, close to the USD 1.05 per KG recorded in Q1 2026, as Middle East Hormuz disruptions raised crude oil and naphthenic distillate costs while pharmaceutical excipient and personal care formulation procurement continued to support the level.
- APAC (China): Chinese liquid paraffin prices held near USD 0.78 to USD 0.84 per KG, close to the USD 0.81 per KG recorded in Q1 2026, as the country's large refining capacity continued to keep it the most affordable sourcing region globally.
- Europe (Germany): German liquid paraffin prices held near USD 1.29 to USD 1.35 per KG, close to the USD 1.32 per KG recorded in Q1 2026 and the highest among tracked markets, as high processing and energy costs continued to keep Germany the most expensive market.
Liquid Paraffin Price Forecast for 2026
The balance of supply and demand for liquid paraffin through the rest of 2026 leans cautiously firm. Crude oil benchmarks and refining margins recovered in Q1 2026 from Middle East Hormuz supply disruptions. Pharmaceutical and personal care sector demand is growing consistently with expanding generic medicine and skincare markets.
The main upside risk is a sustained crude oil cost recovery alongside accelerating pharmaceutical and personal care market growth in emerging economies. The main downside risk is continued crude oil softness and competition from bio-based emollient alternatives in the personal care sector.
| Region | 2026 Price Range (USD/KG) | Outlook |
| Global Average | 0.96 - 1.10 | Crude firming and pharma demand support the tone |
| United States | 0.98 - 1.12 | Steady pharmaceutical and personal care demand holds firm |
| China | 0.72 - 0.86 | Large refining capacity keeps it the most affordable |
| Germany | 1.22 - 1.36 | High processing and energy costs keep it the most expensive |
| India | 0.94 - 1.08 | Growing pharma and personal care demand holds a firm middle |
For the Quarter Ending March 2026
Liquid Paraffin Prices Q1 2026:
- United States: USD 1.05/KG
- China: USD 0.81/KG
- Germany: USD 1.32/KG
- India: USD 1.03/KG
Liquid Paraffin Prices in the United States
US liquid paraffin prices averaged USD 1.05/KG in Q1 2026, up 9.4% from USD 0.96/KG in Q4 2025. Middle East Hormuz disruptions raised crude oil and base oil feedstock costs sharply. Pharmaceutical and personal care sector procurement maintained consistent buying through the quarter.
Why did the price of Liquid Paraffin change in Q1 2026 in the United States?
Middle East Hormuz disruptions raised crude oil and naphthenic distillate costs sharply, elevating the production cost floor. Pharmaceutical excipient and personal care formulation procurement lifted buying. Plastics and rubber processing sector demand provided additional consistent buying support.
Liquid Paraffin Prices in China
Chinese liquid paraffin prices averaged USD 0.81/KG in Q1 2026, up 8.0% from USD 0.75/KG in Q4 2025, the lowest among the tracked markets. Post-Lunar New Year pharmaceutical and personal care restocking lifted procurement. Firmer domestic crude and base oil costs raised the production floor despite large domestic refining capacity.
Why did the price of Liquid Paraffin change in Q1 2026 in China?
Post-holiday pharmaceutical and personal care restocking lifted procurement. Firmer domestic crude and naphthenic distillate costs raised the production cost floor. Large domestic refining capacity kept China the most affordable source despite the quarterly recovery.
Liquid Paraffin Prices in Germany
German liquid paraffin prices averaged USD 1.32/KG in Q1 2026, up 10.0% from USD 1.20/KG in Q4 2025, the highest among the tracked markets. Higher crude and energy costs elevated European refining and hydrofinishing expenses. Steady pharmaceutical, personal care, and food processing sector demand maintained consistent buying.
Why did the price of Liquid Paraffin change in Q1 2026 in Germany?
Higher crude and energy costs elevated European hydrofinishing and dewaxing production expenses. Middle East Hormuz disruptions added import cost premiums to crude feedstock. Steady pharmaceutical, personal care, and food processing sector demand maintained consistent procurement from European distributors.
Liquid Paraffin Prices in India
Indian liquid paraffin prices averaged USD 1.03/KG in Q1 2026, up 8.4% from USD 0.95/KG in Q4 2025. Growing pharmaceutical and personal care demand supported buying. Firmer import-linked crude and base oil costs raised the production and landed cost floor through the quarter.
Why did the price of Liquid Paraffin change in Q1 2026 in India?
Growing pharmaceutical excipient and personal care formulation demand lifted procurement. Firmer import-linked crude and base oil feedstock costs raised the production floor. Strait of Hormuz freight premiums elevated the landed cost of imported liquid paraffin and base oil feedstock.
For the Quarter Ending December 2025
Liquid Paraffin Prices Q4 2025:
- United States: USD 0.96/KG
- China: USD 0.75/KG
- Germany: USD 1.20/KG
- India: USD 0.95/KG
Liquid Paraffin Prices in the United States
US liquid paraffin prices averaged USD 0.96/KG in Q4 2025, declining further on the quarter. Continued crude oil softness and year-end procurement moderation maintained downward pressure. The market eased near USD 0.96/KG into year-end.
Why did the price of Liquid Paraffin change in Q4 2025 in the United States?
Continued crude oil softness maintained downward pressure on naphthenic distillate refining margins. Year-end pharmaceutical and personal care procurement moderation reduced buying urgency. Adequate domestic supply held the market near USD 0.96/KG.
Liquid Paraffin Prices in China
Chinese prices averaged USD 0.75/KG in Q4 2025, recovering on the quarter. Growing pharmaceutical and personal care demand and stable crude costs held the market near USD 0.75/KG.
Why did the price of Liquid Paraffin change in Q4 2025 in China?
Growing pharmaceutical and personal care demand maintained consistent buying. Stable crude feedstock costs held the production floor. Large domestic refining capacity maintained supply balance near USD 0.75/KG.
Liquid Paraffin Prices in Germany
German prices averaged USD 1.20/KG in Q4 2025, declining on the quarter. Soft crude and energy costs and reduced year-end procurement weighed on the market near USD 1.20/KG.
Why did the price of Liquid Paraffin change in Q4 2025 in Germany?
Soft crude and energy costs reduced the European hydrofinishing production cost floor. Year-end pharmaceutical and personal care procurement moderation reduced buying urgency. Adequate import availability maintained supply balance near USD 1.20/KG.
Liquid Paraffin Prices in India
Indian prices averaged USD 0.95/KG in Q4 2025, recovering on the quarter. Growing pharmaceutical and personal care demand and stable crude import costs supported the market near USD 0.95/KG.
Why did the price of Liquid Paraffin change in Q4 2025 in India?
Growing pharmaceutical and personal care demand maintained buying. Stable crude import costs held the production floor. Consistent procurement held the market near USD 0.95/KG into year-end.
Quarterly Liquid Paraffin Price Trends
Global liquid paraffin prices rose briefly in Q2 2025 before declining through Q3 and Q4 as crude oil softened, then surging sharply in Q1 2026. The average rose from USD 0.985/KG in Q1 2025 to USD 1.000/KG in Q2, fell to USD 0.978/KG in Q3 and USD 0.960/KG in Q4, then surged to USD 1.048/KG in Q1 2026, a net gain of about 6.4% over the window. Crude oil benchmark cycles and pharmaceutical and personal care sector demand drove the pattern.
| Quarter | Price (USD/KG) | QoQ Change | Direction |
| Q1 2026 | 1.048 | +9.2% | ↑ Rising |
| Q4 2025 | 0.960 | -1.8% | ↓ Falling |
| Q3 2025 | 0.978 | -2.2% | ↓ Falling |
| Q2 2025 | 1.000 | +1.5% | ↑ Rising |
| Q1 2025 | 0.985 | - | - Stable |
| Q2 2026 | In Progress | - | - In Progress |
What was Liquid Paraffin Price in 2025?
Liquid paraffin prices showed a brief Q2 crude oil uptick followed by a consistent H2 decline through 2025. The global average opened at USD 0.985/KG in Q1 and closed near USD 0.960/KG in Q4, a full-year decline of about 2.5%. Crude oil softness maintained consistent downward pressure through H2 before the sharp Q1 2026 Hormuz-driven rebound.
Liquid Paraffin Prices in the United States in 2025
US prices fell from about USD 1.02/KG in Q1 2025 to USD 0.96/KG by Q4, a decline of 5.9%. Crude oil softness and lower naphthenic refining margins drove the H2 decline despite the brief Q2 crude uptick.
Liquid Paraffin Prices in China in 2025
Chinese prices firmed from roughly USD 0.72/KG in Q1 2025 to USD 0.75/KG by Q4, a gain of 4.2%. Growing domestic pharmaceutical and personal care demand drove the firming. China held the lowest price level throughout.
Liquid Paraffin Prices in Germany in 2025
German prices fell from about USD 1.28/KG in Q1 2025 to USD 1.20/KG by Q4, a decline of 6.3%, the steepest in the dataset. Crude oil softness and lower European hydrofinishing margins weighed on the market. Germany maintained the highest price level.
Liquid Paraffin Prices in India in 2025
Indian prices firmed from roughly USD 0.92/KG in Q1 2025 to USD 0.95/KG by Q4, a gain of 3.3%. Growing pharmaceutical and personal care demand supported the consistent firming through the year.
How We Can Help
Expert Market Research: Your Source for Real-Time Liquid Paraffin Price Intelligence
Expert Market Research tracks liquid paraffin prices continuously across every major producing and consuming region. The team traces causation through crude oil and base oil feedstock economics, pharmaceutical and personal care sector demand cycles, and regional hydrofinishing capacity. Contact Expert Market Research today for liquid paraffin pricing data, bespoke market analysis, and strategic procurement advisory.
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Frequently Asked Questions About This Report
Pharmaceutical laxative, medical device lubricant, and topical ointment excipient use takes the largest share. Personal care emollient formulations, food contact and food processing lubricants, plastics and rubber processing, and textile fibre lubrication also consume significant volumes.
The Q1 2026 average was USD 1.05/KG in the United States, USD 0.81/KG in China, USD 1.32/KG in Germany, and USD 1.03/KG in India. Germany remains the highest-priced market.
The global average fell from USD 0.985/KG in Q1 2025 to about USD 0.960/KG in Q4, a full-year decline of around 2.5%. A brief Q2 crude uptick gave way to consistent H2 softness before the sharp Q1 2026 Hormuz-driven rebound.
Crude oil benchmark softness reduced naphthenic distillate refining margins. Year-end pharmaceutical and personal care procurement moderation reduced buying urgency. Adequate supply from domestic and imported sources maintained comfortable availability.
The global average is expected in the USD 0.96 to 1.10/KG range for the rest of 2026, with recovery on firmer crude benchmarks and growing pharmaceutical and personal care sector demand in emerging markets.
Germany sits highest on crude and hydrofinishing energy costs, the United States and India hold a firm middle on pharmaceutical and personal care demand, and China prices lowest on large domestic refining capacity.
This report is updated monthly. For real-time pricing intelligence, contact the Expert Market Research team directly.
Prices respond mainly to crude oil and base oil feedstock benchmarks, pharmaceutical and personal care sector demand, and hydrofinishing refinery capacity utilisation. Middle East crude supply events and emerging market pharmaceutical growth are key signals.
Asia Pacific, North America, and Europe host the largest hydrofinishing capacity tied to petroleum refining. Any crude oil or naphthenic distillate cost shift ripples across liquid paraffin markets within one to two quarters.
Buyers can use quarterly trends and forecasts to time pharmaceutical and personal care formulation contracts, build cover when crude oil signals tightening, and monitor naphthenic distillate refining margins as the primary production cost signal.
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