Phenol Price Trend and Forecast 2026-2027

Phenol prices in China reversed sharply in Q2 2026, falling 15.4% to USD 770.00/MT from a spike of USD 910.00/MT in Q1, as import availability and port inventories recovered from the acute tightness that had driven the earlier surge. Germany moved in the opposite direction, rising a further 4.2% to USD 1,120.00/MT, the highest of any region tracked here. Globally, the average fell from USD 982.00/MT in Q1 to USD 947.50/MT in Q2, a 3.5% retreat, the first quarterly decline recorded anywhere in this report's history for this commodity. For H2 2026, a global average of USD 900.00-1,050.00/MT is expected, with China's correction likely to stabilize even as Western markets stay comparatively firm.

Phenol is an aromatic compound produced almost entirely through the cumene process, in which benzene and propylene are combined to form cumene, which is then oxidized and cleaved to yield phenol alongside acetone as a co-product. It serves as the essential feedstock for bisphenol A, itself the building block for polycarbonate plastics and epoxy resins, as well as phenolic resins used in construction, automotive, and electrical applications. Benzene and propylene feedstock costs, bisphenol A and phenolic resin sector demand, and regional import and export flow conditions are what drive prices in this market.

Phenol Price Forecast for 2026

The outlook for Phenol through H2 2026 points to stabilization following the sharp Q1-to-Q2 swing in China. As import cargoes continue arriving and port inventories normalize further, Chinese prices should settle into a steadier range, while Germany and the broader European market, still working through elevated energy and feedstock costs, look likely to stay comparatively firm.

The main upside risk is a renewed tightening of benzene or propylene feedstock costs, which could reignite the kind of sharp move seen in China during Q1. The main downside risk is a further recovery in import availability combined with softening bisphenol A demand, which would extend the current Chinese correction and pressure the broader Asian market lower.

For the Quarter Ending June 2026

Phenol Prices Q2 2026:

• China: USD 770.00/MT
• India: USD 920.00/MT
• United States: USD 1,080.00/MT
• Germany: USD 1,120.00/MT

Phenol Prices in China

Chinese Phenol prices averaged USD 770.00/MT in Q2 2026, down 15.4% from a Q1 spike of USD 910.00/MT, as import cargoes from Asia and the Middle East continued arriving and eased the acute tightness seen earlier in the year.

Why did the price of Phenol change in Q2 2026 in China?

The continuous availability of competitively priced import shipments from Asia and the Middle East put sustained downward pressure on prices, while declining port inventories from the Q1 squeeze gave way to comfortable restocking. Softer downstream demand from bisphenol A producers added to the reversal.

Phenol Prices in India

Indian prices averaged USD 920.00/MT in Q2 2026, down 6.1% from USD 980.00/MT in Q1, tracking the broader Asian correction as import costs and freight rates eased somewhat.

Why did the price of Phenol change in Q2 2026 in India?

Global cues from the broader Asian market, combined with easing import costs and freight rates, pulled Indian prices down from their sharp Q1 peak even as underlying downstream demand stayed relatively stable.

Phenol Prices in the United States

US Phenol prices averaged USD 1,080.00/MT in Q2 2026, up 6.9% from USD 1,010.00/MT in Q1, as steady demand from bisphenol A and phenolic resin manufacturers kept this market firm even as Asian prices reversed.

Why did the price of Phenol change in Q2 2026 in the United States?

Domestic production capacity from cumene-based plants continued cushioning the broader impact of feedstock cost pressures, while steady downstream demand from resin and chemical manufacturing sectors kept this market on a firm upward path.

Phenol Prices in Germany

German prices averaged USD 1,120.00/MT in Q2 2026, the highest of any region tracked here, up 4.2% from USD 1,075.00/MT in Q1, as elevated energy costs continued supporting the European market.

Why did the price of Phenol change in Q2 2026 in Germany?

The dual burden of already-elevated European energy costs, compounded by continued geopolitical instability affecting crude oil and feedstock markets, kept German prices climbing even as the Asian market reversed sharply.

For the Quarter Ending March 2026

Phenol Prices Q1 2026:

• China: USD 910.00/MT
• India: USD 980.00/MT
• United States: USD 1,010.00/MT
• Germany: USD 1,075.00/MT

Phenol Prices in China

Chinese prices surged 18.2% in Q1 2026 to USD 910.00/MT from USD 770.00/MT in Q4 2025, with the sharpest gains concentrated in March as feedstock costs, reduced import availability, and plant maintenance combined to tighten the market.

Why did the price of Phenol change in Q1 2026 in China?

Rising upstream benzene and propylene costs, reduced import availability, and plant maintenance activities combined to tighten supply sharply through the quarter, with declining port inventories and positive downstream demand from bisphenol A producers reinforcing the upward movement, particularly in the final weeks of the quarter.

Phenol Prices in India

Indian prices jumped 15.3% in Q1 2026 to USD 980.00/MT from USD 850.00/MT in Q4 2025, following global cues with higher import costs and elevated freight rates.

Why did the price of Phenol change in Q1 2026 in India?

Prices followed global cues closely, with higher import costs and elevated freight rates driving a sharp increase even as downstream demand remained comparatively stable through the quarter.

Phenol Prices in the United States

US prices rose 7.4% in Q1 2026 to USD 1,010.00/MT from USD 940.00/MT in Q4 2025, as crude oil prices climbed sharply late in the quarter on Middle East-related disruptions.

Why did the price of Phenol change in Q1 2026 in the United States?

Downstream demand from bisphenol A and related sectors remained consistent as the sector reopened after the New Year holidays, but as the quarter progressed, crude oil prices climbed sharply on Iran-related conflict disruptions, and rising freight and insurance costs pushed prices of crude-derived products higher in the final weeks.

Phenol Prices in Germany

German prices rose 8.0% in Q1 2026 to USD 1,075.00/MT from USD 995.00/MT in Q4 2025, as geopolitical instability compounded already-elevated European energy costs.

Why did the price of Phenol change in Q1 2026 in Germany?

European markets were shaped by the dual burden of pre-existing elevated energy costs, further compounded by geopolitical instability stemming from Middle East tensions, sustaining production cost pressures across the regional chemical complex throughout the quarter.

Quarterly Phenol Price Trends

Global Phenol prices dipped modestly in Q2 2025 before climbing steadily through the following three quarters, then diverged sharply in 2026: China spiked to a peak in Q1 before reversing hard in Q2, while the United States and Germany continued climbing steadily through both quarters, leaving the global average essentially flat over the two-quarter span.

What was Phenol Price in 2025?

Phenol firmed across every market covered in this report through 2025, with China posting the strongest annual gain even before its sharp Q1 2026 spike and subsequent Q2 correction, while the United States and Germany saw steadier, more measured increases through the year.

Phenol Prices in China in 2025

Chinese prices firmed from about USD 680.00/MT in Q1 2025 to USD 770.00/MT by Q4, a gain of roughly 13.2%, the strongest annual increase of the four regions, well before the dramatic Q1 2026 spike and Q2 reversal that followed.

Phenol Prices in India in 2025

Indian prices firmed from about USD 780.00/MT in Q1 2025 to USD 850.00/MT by Q4, up roughly 9.0%, tracking the broader Asian market before the sharper 2026 swings.

Phenol Prices in the United States in 2025

US prices firmed from about USD 900.00/MT in Q1 2025 to USD 940.00/MT by Q4, a gain of roughly 4.4%, a comparatively steady annual path reflecting domestic production capacity that partially cushioned broader cost pressures.

Phenol Prices in Germany in 2025

German prices firmed from about USD 950.00/MT in Q1 2025 to USD 995.00/MT by Q4, up roughly 4.7%, the smallest annual gain of the four regions before energy and geopolitical cost pressures intensified further into 2026.

How We Can Help

Expert Market Research: Your Source for Real-Time Phenol Price Intelligence

Expert Market Research tracks Phenol prices continuously across every major producing and consuming region, combining benzene and propylene feedstock cost data, port inventory and import flow trends, and bisphenol A and phenolic resin demand signals into a single, regularly updated view of the market. Our team can help your procurement function benchmark current offers, plan purchases around the sharp regional swings covered in this report, and build a defensible view of where this essential aromatic chemical is headed next. Reach out to our team for a tailored briefing or a deeper look at any of the regional markets covered here.