In 2024, the 11-Aminoundecanoic Acid market showed a fluctuating price trend, mainly driven by changes in its key feedstock, castor oil. Since 11-Aminoundecanoic Acid is produced from castor oil and castor seed derivatives, the availability and pricing of castor oil played an important role in shaping the overall market. During the first quarter, stable to slightly weak castor oil prices in India, supported by higher castor seed production and low international demand, kept the cost of production steady and limited strong price movement for 11-Aminoundecanoic Acid. The market remained calm with balanced supply and demand conditions.
In the second quarter of 2024, the prices reflected a volatile pattern. Castor seed acreage increased in the second quarter, which led to improved supply. This caused prices to dip in the short term. However, farmers started to regulate the supply to ensure prices remained stable. International castor oil supply also remained stable in the second quarter. This led to a slightly unstable pattern in the prices of 11-Aminoundecanoic Acid.
During the third quarter, reduced castor seed production in key Indian regions and supply chain issues led to tighter supply, which helped to support prices. Demand from industries like nylon, lubricants, and specialty chemicals helped to keep the market active.
During the fourth quarter, prices declined slightly, with stable demand from industries like cosmetics and pharmaceuticals, which did not increase prices. Weather-related damage to the crop, reduced seed availability, and supply issues caused some fluctuation in prices, but the overall trend remained stable.
Analyst Insight
According to Procurement Resource, the 11-Aminoundecanoic Acid market is expected to remain stable with mild fluctuations, depending on castor oil supply and demand from nylon and specialty chemical industries.