Succinic Acid Price in USA
- United States: 1745 USD/MT
As Q4 approached its end in the USA, increased freight activity through the Panama Canal resulted in higher prices for imported goods. By the conclusion of Q4 2023, the import quotation for succinic acid CFR Texas in the USA was approximately $1745/MT.
The latest report by IMARC Group, titled "Succinic Acid Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data," provides a thorough examination of succinic acid price trend. This report delves into the price of succinic acid globally, presenting a detailed analysis, along with informative succinic acid price chart. Through comprehensive succinic acid price analysis, the report sheds light on the key factors influencing these trends. Additionally, it includes historical data to offer context and depth to the current pricing landscape. The report also explores the succinic acid demand, analyzing how it impacts market dynamics. To aid in strategic planning, the price forecast section provides insights into price forecast, making this report an invaluable resource for industry stakeholders.
Succinic Acid Prices December 2023:
- United States: 1745 USD/MT
- China: 1585 USD/MT
- South Korea: 1615 USD/MT
- Germany: 1765 USD/MT
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The study delves into the factors affecting succinic 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.
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Succinic Acid Price Trend- Q4 2023
The succinic acid market is primarily driven by its diverse applications across various industries such as pharmaceuticals, food and beverage, and chemicals. A key factor propelling this market is the shift toward bio-based succinic acid, prompted by growing environmental concerns and the need for sustainable solutions. This bio-derived variant of succinic acid is gaining traction due to its reduced carbon footprint and compatibility with green manufacturing practices. Additionally, advancements in biotechnology are enhancing the efficiency and cost-effectiveness of bio-succinic acid production, making it a more attractive option for industry stakeholders. In the last quarter of 2023, succinic acid prices were influenced by various regional dynamics in the Asia Pacific, Europe, and North America. In the North America market, the price of succinic acid saw a significant decline, influenced by diminished demand and purchasing from the end-user industries, prompting exporters to reduce their prices.
Succinic Acid Market Analysis
The global succinic acid market size reached US$ 176.2 Million in 2023. By 2032, IMARC Group expects the market to reach US$ 315.8 Million, at a projected CAGR of 6.70% during 2023-2032. In North America, the market conditions were somewhat similar, with steady demand met by adequate supply levels. The demand for succinic acid remained low throughout the quarter, particularly impacted by reduced consumption in the food industry. The textile sector also saw a downturn in orders due to decreased demand for polyester fiber as the winter season approached. Conversely, the pharmaceutical sector maintained steady order levels. By quarter’s end, an increase in freight costs through the Panama Canal contributed to higher import prices for products, including Succinic Acid. Lower water levels in the Panama Canal and the Mississippi River further disrupted supply chains, affecting regional supplies.
Besides this, Europe price trend for succinic acid fluctuated throughout the fourth quarter of 2023, with a notable decrease in prices compared to the previous quarter. This price drop was primarily attributed to diminished demand and procurement by end-user industries, prompting exporters to reduce their price quotes. The demand for succinic acid ranged from low to moderate, experiencing a decline in orders from the textile sector due to reduced demand for polyester fibers during the winter season. Mid-quarter, the consumption from the food industry also fell following a decrease in the food sales index. Additionally, reduced purchasing and procurement activities led to increased inventory levels, although supply rates were stable during this period. At the end of the quarter, supply availability tightened regionally due to disruptions in the supply chain. The overall economic slowdown and the impact of energy costs on production have led to cautious purchasing behaviors among key industry players, moderating price increases.
The Asia Pacific region, particularly in economies such as China experienced fluctuations within the region. The decline in demand from buyers, coupled with changes in production levels and supply availability, significantly influenced the market dynamics. Initially, the market saw a downward trend as orders from the textile industry decreased with the onset of winter and reduced demand for Polyester fiber. Concurrently, the prices of benzene, a key raw material, dropped due to lower crude oil prices, reflecting the economic slowdown in the US and Europe, thus lowering production costs. Additionally, there was a slight reduction in demand from the food sector during the winter months. Nevertheless, the market recovered somewhat due to increased activity in the regional clothing fiber industries and rising retail sales towards the end of 2023.
Key Points Covered in the Succinic Acid Pricing Report:
The report delivers the following key findings, alongside a comprehensive breakdown of prices by region:
- Succinic Acid Prices
- Succinic Acid Price Trend
- Succinic Acid Demand & Supply
- Succinic Acid Market Analysis
- Demand Supply Analysis by Type
- Demand Supply Analysis by Application
- Demand Supply Analysis of Raw Materials
- Succinic Acid Price Analysis
- Succinic Acid Industry Drivers, Restraints, and Opportunities
- Succinic Acid News and Recent developments
- Global Event Analysis
- List of Key Players
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.
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