Adipic Acid Price Trend

Adipic Acid Prices December 2023

The price of adipic acid in the United States for Q4 2023 reached 2485 USD/MT in December. Throughout the Q4 of 2023, the North American Adipic Acid market witnessed a modest upturn despite decreased purchasing activities and moderate demand. The prevalence of high interest rates had a significant influence, prompting buyers to exercise caution and reduce their buying activities. Despite this cautious approach, the market maintained moderate supply levels, as traders managed steady inventory levels and offered the product at competitive prices within the domestic market.

The price trend for adipic acid in South Korea decreased compared to the same in Q4 2022, reaching 1386 USD/MT in December 2023. The region witnessed a negative change in adipic acid prices in December.

In the Netherlands, adipic acid prices declined compared to the same quarter of previous year. The price range increased as compared to the previous quarter of 2023, reaching 3429 USD/MT in December. The drastic decrease in demand can be attributed to the abundant supply present in the market, due to which downstream industries adopted a cautious procurement approach.

Adipic Acid Price Trend, Market Analysis, and News

IMARC’s newly published report, titled “Adipic Acid Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” offers an in-depth analysis of adipic acid pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

It encompasses an in-depth review of spot price of adipic acid at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of adipic acid price trend across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

The report examines the elements influencing adipic acid price fluctuations, such as changes in raw material costs, supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.

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.

• The exponentially increasing demand for nylon is positively driving the demand for adipic acid. This product is highly adopted for the production procedure of nylon, nylon 6,6 in specific. The rising demand for nylon can be attributed to its wide utilization in numerous applications, including apparel, automotive components, and industrial materials. Additionally, a significant rise in the disposable income levels of developing nations has been registered, leading to a considerable rise in the demand for nylon-based products.
• In the present times, increasing environmental concerns, such as climate change and global warming are on a rise. For instance, according to NATIONAL AERONAUTICS AND SPACE ADMINISTRATION (NASA) the average surface temperature in 2023 was the warmest on record, since 1880. In consideration of these concerning statistics, government organizations across the globe are issuing stringent rules and regulations with the aim of minimizing carbon footprints. On account of the aforementioned factor, there is a significant rise in the adoption of eco-friendly alternatives across industries. Furthermore, key players in the industry are extensively investing in research and development (R&D) activities to improve the production efficiency and cost-effectiveness of bio-based adipic acid, in order to meet the government laid rules and regulations.
• The rapid expansion of end-use industries including textiles, automotive, and packaging is a major factor propelling the adipic acid market. For instance, according to the IMARC Group, the global textile market size is expected to grow at a CAGR of 3.8% during 2023-2032. Additionally, continuous advancements in technology and manufacturing procedures are leading to the development of novel products with better performance characteristics, thereby positively driving the adipic acid market outlook. Other than this, with the rapid evolution and diversification of numerous industries, the demand for adipic acid is growing at a considerable rate.

Adipic Acid News

The report covers the latest developments, updates, and trends impacting the global adipic acid market, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, advancements in adipic acid production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the adipic acid price trend.

Latest developments in the adipic acid industry:

• In August 2022, Toray Industries Inc., presented its production of the global first 100% bio-based adipic acid, a raw material for nylon 66, from inedible biomass sugars.
• In May 2022, Lanxess and Advent announced the acquisition of Engineering Materials business from DSM for approximately EUR 3.7 billion.

Product Description

Adipic acid is a dicarboxylic acid with the chemical formula C6H10O4. It is a crystalline solid white in color, which is soluble in water and acidic in taste.

Adipic acid is primarily produced with the oxidation of cyclohexane or cyclohexanol, both of which are procured from petroleum. It is also extracted from a renewable source, through the fermentation of glucose, thus providing a more sustainable and eco-friendlier alternative to petroleum-derived adipic acid.

Adipic acid is highly adopted in nylon production acitivties. Other than this, it is also used in the production of numerous other products such as plasticizers, polyurethane resins, and food additives. It usually finds application in the food industry as a flavorant and acidity regulator, especially in beverages and gelatin desserts.

Regional Coverage

The report provides a detailed analysis of the adipic acid market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the adipic acid price trend.

Global Adipic Acid Price

The report offers a holistic view of the global adipic acid pricing trends in the form of adipic acid price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights current price of adipic acid but also provides insights into historical price trends, enabling stakeholders to understand past fluctuations and their underlying causes. 

The report also delves into price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed adipic acid demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.

Europe Adipic Acid Price

The key factors influencing the adipic acid market in Europe during the fourth quarter of 2023 were a balanced supply and muted demand. The abundant supply of the market is to be accredited for the low demand, which has caused downstream sectors to purchase sparsely and only when absolutely essential. Significant price swings were noted in the Netherlands, exhibiting a pattern of mild oscillations and regular seasonal trends. Price and demand did not seem to be correlated well, indicating that other factors influenced market dynamics more.

This analysis can be extended to include detailed adipic acid price information for a comprehensive list of countries.

North America Adipic Acid Price

In North America, the adipic acid market was offered at reasonable prices in domestic market by traders who kept consistent inventory levels, resulting in a market with moderate supply levels. Pricing stability was also influenced by the poor performance of raw material Benzene.

Manufacturers stated that greater operating expenses were partly caused by increasing prices for oil and commodities generated from oil. However, the lack in demand of the commodity and the absence of any large-scale plant closures during this time frame are the main causes of the reducing demand of the product.

Specific adipic acid historical data within the United States and Canada can also be provided.

Middle East and Africa Adipic Acid Price

The report explores the adipic acid pricing trends in the Middle East and Africa, considering factors like regional industrial growth, the availability of natural resources, and geopolitical tensions that uniquely influence market prices.

In addition to region-wise data, information on adipic acid prices for countries can also be provided.

Asia Pacific Adipic Acid Price

The adipic acid market in the APAC region witnessed a stable to declining trend in the fourth quarter of 2023. The market was mostly impacted by the low-cost pressure brought on by the abundant supply of benzene in the Chinese market and weak demand. The biggest shifts in the price of adipic acid throughout the quarter were observed in South Korea. The market showcased a steady trend, with a moderate supply and modest demand. In South Korea, the cost of adipic acid FOB Busan decreased by 1% from the previous quarter. The price changed by -9% year over year, and it changed by -6% when comparing the first and second halves of the quarter.

This adipic acid price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America Adipic Acid Price

The analysis of adipic acid prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, industrial growth, and trade frameworks.

This comprehensive review can be extended to include specific countries within the region.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of adipic acid pricing, covering global and regional trends, spot prices at key ports, and a breakdown of Ex Works, FOB, and CIF prices.
• The study examines factors affecting adipic acid price trend, including raw material costs, supply-demand shifts, geopolitical impacts, and industry developments, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The adipic acid price charts ensure our clients remain at the forefront of the industry.