Get the latest insights on price movement and trend analysis of Aspirin in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).
Aspirin Price Trends for the July-September of 2023
Aspirin witnessed fluctuating market dynamics in the Asian region during the third quarter of the year 2023. Demands from the pharmaceutical industry primarily influenced the changes in aspirin’s price graph. The supplies in the Chinese market were still struggling because of the incapacitation in production in recent years.
This void gave the price trends a good start at the beginning of the third quarter in July’23. However, the sliding cost support from the upstream situations because of constantly easing freight and processing rates pushed the aspirin prices back for some time in the middle of the quarter. It was stable demands that shifted the aspirin price momentum upwards by the end of the discussed period. Conclusively, a mixed-price behavior was observed in the said quarter for aspirin.
The European aspirin market trends closely followed the price analysis for the Asian region. The consumption from downstream food, beverage, agrochemical, and pharma industries drove these market trends. The regional prices first rose at the beginning of the quarter, then fell, and then again rose at the end of the quarter. Along with the downstream demands from the consuming sectors, economic inflation, and freight costs also guided these price trends.
The American regional market could not behave any differently than the global aspirin market, and prices wavered throughout the said period. Dependency on Chinese manufacturing was also a big swaying factor. Overall, fluctuating price trends were observed.
According to Procurement Resource, the aspirin price trends are likely to continue fluctuating, given the current volatility in the market demands.
Aspirin Price Trends for First Half of 2023
The feedstock of aspirin faced a sharp fall in the first quarter of 2023, which depreciated the aspirin price trend. This reduction in price trend was a consequence of declining demand from the food, pharmaceutical, and healthcare industries.
China also struggled with weak rates of exports and struggling market activities after the pandemic. In addition to this, the slowdown of the global economy and strict monetary policy adopted by the governments to keep the market activities afloat had a negative impact on the aspirin price trend.
The price trend of aspirin suffered from low demand and the feeble condition of European aspirin markets. The rates of imports from the Asian countries also declined amid low demand, resulting in weak trading activities in the region. In addition to the overall fall in consumption of aspirin in the first and second quarters of 2023, the market also faced the adverse effects of high inflation and interest rates along with falling costs of energy, resulting in a consistent decline in aspirin prices.
In the domestic market, the demand for aspirin declined in the first quarter of 2023, and with ample availability of aspirin in the region, the price trend of aspirin declined in North America. Additionally, the trading sentiments were also negatively affected by weak imports. Reduction in imports was also caused by the weak performance of the US dollar with respect to the Euro, and thus, aspirin prices faced southwards in the first two quarters of 2023.
According to Procurement Resource, the price trend of Aspirin is expected to fall in the upcoming quarters as the demand from end-users is declining along with weak global trading sentiments.
Procurement Resource provides latest prices of Aspirin. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.
The scientific name of aspirin is acetylsalicylic acid that is widely used as an anti-pyretic. In addition to its anti-pyretic properties, aspiring also helps in reduction inflammation and in providing pain relief. It inhibits the production of prostaglandins, producing enzymes that cause inflammation. Aspirin also has blood thinning effects that help in preventing blood clots and thus aids in reducing risk of heart attacks and strokes. It is available in several formulations such as tablets, capsules, etc.
|Industrial Uses||Food and beverage industries, Pharmaceuticals and agrochemicals, Chemical synthesis, Analytical chemistry|
|Molecular weight||180.158 g/mol|
|Supplier Database||Bayer, Novacap, Shiono Chemical Co, Chemische Fabrik Weyl Gmbh, Eli Lily and Co, Jqc Huayin Pharmaceutical Co Ltd|
|Region/Countries Covered||Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea, Iraq, Saudi Arabia, Malaysia, Nepal, Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore, Oman, Kuwait, Qatar, 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
Africa: South Africa, Nigeria, Egypt, Algeria, Morocco
|Currency||US$ (Data can also be provided in local currency)|
|Supplier Database Availability||Yes|
|Customization Scope||The report can be customized as per the requirements of the customer|
|Post-Sale Analyst Support||360-degree analyst support after report delivery|
Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
The production of aspirin is carried out using acetylation of salicylic acid using acetic anhydride in glass-lined vessels. The product of this reaction is a liquid which is crystallized and cooled. In subsequent steps, acetic acid and other solvents are removed and recycled. The final crystals are then washed, filtered, and dried to produce final aspirin.
The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e. government agencies, external trade bodies, and industry publications).
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