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Written by Allen » Updated on: October 26th, 2024
In December 2023, adipic acid in the United States was priced at 2485 USD/MT for Q4. This report discusses recent developments, updates, and the trend influencing the global adipic acid market, providing stakeholders with timely insights.
The latest report by IMARC, titled "Adipic Acid Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data," delivers a comprehensive analysis of adipic Acid prices on a global and regional scale, highlighting the pivotal factors contributing to price changes. This detailed examination includes spot price evaluations at key ports and an analysis of pricing structures, such as Ex Works, FOB, and CIF, across North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Adipic Acid Prices December 2023:
Report Offering:
The study delves into the factors affecting Adipic Acid price variations, including alterations in the cost of raw materials, the balance of supply and demand, geopolitical influences, and sector-specific developments.
The report also incorporates the most recent updates from the market, equipping stakeholders with the latest information on market fluctuations, regulatory modifications, and technological progress. It serves as an exhaustive resource for stakeholders, enhancing strategic planning and forecast capabilities.
Request For a Sample Copy of the Report: https://www.imarcgroup.com/adipic-acid-pricing-report/requestsample
Adipic Acid Price Trend- Q4 2023
The adipic acid market is primarily propelled by its essential role in the production of nylon 6,6, alongside a growing array of applications in polyurethane production, plasticizers, and the food industry. As a key dicarboxylic acid, adipic acid's demand is closely tied to the automotive and electronics industries, where nylon 6,6's attributes of strength, thermal stability, and wear resistance are highly valued. The push towards lightweight vehicles for better fuel efficiency and lower emissions has particularly bolstered the use of nylon 6,6, thus driving adipic acid demand.
Additionally, the material's application in carpeting and textiles further supplements this growth. In the realm of polyurethanes, used in foams, elastomers, and coatings, adipic acid contributes to the production of flexible foams for furniture, bedding, and automotive interiors, highlighting its versatility. The compound's role as a food additive, albeit smaller in volume compared to its industrial applications, diversifies its demand profile, being used as a flavorant and acidity regulator in food and beverages.
Environmental concerns and the pursuit of sustainable processes have spurred advancements in bio-based adipic acid, aiming to reduce reliance on petrochemical sources and minimize environmental impact. This shift towards sustainability, alongside the continuous expansion in its traditional and innovative applications, underscores the dynamic growth within the adipic acid market.
Adipic Acid Market Analysis
The global adipic acid market size reached US$ 6.2 Billion in 2023. By 2032, IMARC Group expects the market to reach US$ 10.2 Billion, at a projected CAGR of 5.50% during 2023-2032. In the last quarter of 2023, the global adipic acid market exhibited varying trend across North America, the Asia-Pacific (APAC) region, and Europe, with each region facing its unique set of challenges and market dynamics.
In North America, the market experienced a slight improvement despite a backdrop of reduced buying activities and moderate overall demand. This paradoxical situation arose primarily due to high interest rates, which instilled a sense of caution among buyers, leading to a slowdown in purchasing activities. The adipic acid market in this region managed to maintain pricing stability, attributed to moderate supply levels and the weak performance of benzene, a key raw material, which contributed to a slower pace of cost increases.
Manufacturers also pointed to elevated prices of oil and oil-derived materials as factors contributing to higher operating expenses. However, the abundance of supply and the absence of significant plant shutdowns during the period ensured that the demand remained lacklustre, preventing any substantial price hikes.
Conversely, the APAC region, particularly in South Korea, witnessed a notable decline in adipic acid prices during the quarter. This trend was primarily driven by low-cost pressure from the raw material benzene in the Chinese market, an abundant supply, and subdued demand. The year-end and potential decrease in demand led to destocking activities, further exacerbating the price decline.
Similarly, in Europe, the market dynamics were characterized by moderate supply and low demand, with the Netherlands experiencing significant price fluctuations. The lack of demand, coupled with an abundant supply, forced downstream industries into a cautious procurement strategy, only purchasing adipic acid on an as-needed basis. This cautious approach, along with the weak correlation between price and demand, indicates that factors other than demand, such as raw material costs and economic policies, played a more significant role in influencing the market.
Browse Full Report: https://www.imarcgroup.com/adipic-acid-pricing-report
Key Points Covered in the Adipic Acid Pricing Report:
The report delivers the following key findings, alongside a comprehensive breakdown of prices by region:
Regional Price Analysis:
Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand.
Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece.
North America: United States and Canada.
Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru.
Middle East & Africa: Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco.
Browse More Pricing Reports by IMARC Group:
Note: The current country list is selective, detailed insights into additional countries can be obtained for clients upon request.
About Us:
IMARC is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
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