Price increase nominations introduced in US IPA market

Author: Deniz Koray

2021/03/03

HOUSTON (ICIS)--Three separate isopropanol (IPA) price increase nominations have emerged  in the first half of March 2021 according to market participants.

Company Product Nominated Increase Targeted Date
DOW IPA 6 cents/lb 15-Mar
ExxonMobil IPA 7 cents/lb 5-Mar
LyondellBasell IPA 7 cents/lb 15-Mar

These nominations come as propylene, an important feedstock, had its  largest month-on-month change in February, increasing 28 cents/lb.

IPA was already facing pressure from higher upstream costs before the winter storm impacted Texas in mid-February, leading to significant power outages and plant shutdowns, including at LyondellBasell and Monument Chemical.

There were already price increase nominations sought for late February and early March.

IPA is a solvent principally used in industrial and consumer products including cosmetics and personal-care products, paints and resins, pharmaceuticals, food, inks and adhesives. It is also used in de-icers in the winter.

US IPA suppliers include ExxonMobil, Dow Chemical, LyondellBasell, Monument Chemical and Shell Chemical.