During Q1 2023, maleic acid prices surged in Asia due to higher costs of its feedstock, maleic anhydride, and supply chain disruptions. The Lunar New Year break and escalating global demand further bolstered this uptrend. However, in Q2, prices sharply declined due to economic fluctuations, reduced demand from consumers, and constrained supply. Meanwhile, both Q1 and Q2 in Europe saw consistent drops in maleic acid prices owing to reduced costs of raw materials, escalating inflation, and increased energy expenses impacting the industrial landscape. Labor strikes and logistical issues also played a role in driving prices down. Similarly, North America witnessed a decline in maleic acid prices across both quarters due to low operational rates, disrupted supply chains, financial crises, and insufficient support in the upstream sector.
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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 is a multi-purpose asset across industries, valued for its adaptability. In chemistry, it acts as a pivotal building block for creating compounds like fumaric acid, pivotal in food and pharmaceutical realms. When integrated into polymers and resins, it bolsters their strength and bonding, proving invaluable in automotive and construction coatings, adhesives, and composite materials. Additionally, it plays a crucial role in water treatment by regulating pH levels and preventing scale build-up. Its significance extends to the textile industry, where it serves as a dye stabilizer, and in the realm of personal care product manufacturing, leveraging its pH-modifying abilities and formulation stabilizing attributes.
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