In Q1 2023, maleic acid prices in Asia witnessed an increase, driven by rising costs of maleic anhydride feedstock and disruptions in the supply chain. The upward trend was further bolstered by the Lunar New Year holiday and growing demand on an international scale. However, during Q2, there was a significant price decline, attributed to economic fluctuations and a decrease in end-user demand, combined with supply constraints.
In Europe, both Q1 and Q2 saw a consistent decline in maleic acid prices, primarily due to reduced feedstock costs, increasing inflation, and rising energy expenses affecting the industrial outlook. Labor strikes and logistical disruptions also played a role in contributing to the price dip.
Similarly, in North America, maleic acid prices dropped in both quarters due to weak operational rates, supply chain interruptions, financial crises, and insufficient support in the upstream sector.
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Definition
Maleic acid is a dicarboxylic organic compound with the chemical formula C4H4O4. It exists as white crystals, readily soluble in water. Maleic acid exhibits geometric isomerism with its cis and trans forms. It possesses a sharp, sour taste and is commonly used in the production of other chemicals and materials due to its ability to undergo various reactions. Its applications span industries like chemicals, polymers, coatings, and pharmaceuticals, where its properties contribute to diverse chemical processes and product formulations.
Key Details About the Maleic Acid Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on Maleic Acid in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as Excel files that can be used offline.
The Maleic Acid Price trends, including India Maleic Acid price, USA Maleic Acid price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
Industrial Uses Impacting the Maleic Acid Price Trend:
Maleic acid boasts versatile properties, rendering it indispensable in a range of industrial applications. Within the chemical sector, it assumes a pivotal role as a crucial intermediary in the synthesis of compounds such as fumaric acid, widely employed in the realms of both food and pharmaceuticals. Moreover, its incorporation into polymers and resins imparts enhanced mechanical attributes and adhesion, thus bestowing significant value in the automotive and construction industries, particularly in coatings, adhesives, and composite materials.
Maleic acid also serves a critical function in water treatment procedures, facilitating pH control and the prevention of scale formation. In the textile industry, it assumes the role of a potent dye-fixing agent, while in the production of personal care products, it excels in adjusting pH levels and bolstering formulation stability.
Key Players:
- Bartek Ingredients Inc
- Fuso Chemical Co Ltd
- Thirumalai Chemicals Ltd
- Yongsan Chemicals
- Prinova Group LLC
- Guangzhou ZIO Chemical Co Ltd
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