Fumaric Acid Price Trend and Forecast

Fumaric Acid Regional Price Overview

Get the latest insights on price movement and trend analysis of Fumaric Acid in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

 

Fumaric Acid Price Trend for the Q1 of 2024

Product Category Region Price Time Period
Fumaric Acid Chemicals USA USD 1450/MT March 2024
Fumaric Acid Chemicals Europe USD 1400/MT March 2024


Stay updated with the latest Fumaric Acid prices, historical data, and tailored regional analysis
 

Asia

In the first quarter of 2024, China, a significant producer and exporter of fumaric acid, saw prices on an upward trajectory driven by various factors. The bulk orders and significant procurements from both regional and international markets propelled this trend. Following the Lunar New Year and Spring Festival, production plants resumed operations at a large scale after maintenance, boosting market confidence. Additionally, decreased fumaric acid inventories within China added further upward pressure, prompting market participants to replenish stocks.
 

Fumaric Acid Price Chart

Fumaric Acid Price Trends and Forecast

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The traders witnessed an increased demand for food products that primarily use fumaric acid as both an acidulant and preservative during spring and early summer months, alongside heightened consumption of packaged foods, further fueling this upward trend of fumaric acid price trend. Additionally, the depreciation of the Chinese yuan against the USD in February elevated overall costs of production and transportation. As the Chinese market reopened post-holiday, demand surged, continuing the upward momentum in prices.

Europe

Due to expanding fundamentals driven by the uptick in the cost of feedstock maleic anhydride, fumaric acid prices climbed upwards in Europe. In the initial phase of the quarter, the market experienced a mismatch in fumaric acid demand and supply, resulting in the oscillating journey of its price trend. However, rising crude oil prices escalated maleic anhydride prices to new highs, while the overall cost of production also surged in the European countries.

Additionally, due to heightened demand from downstream industries amidst dwindling raw material inventories, it was also projected a favorable climate for the traders to raise their fumaric acid price quotations. Despite stable demand from the coating and unsaturated resin sectors, leading European producers struggled to meet demand, resulting in price turmoil. This shortage, coupled with high international freight charges, reduced arbitrage opportunities and depleted inventories in the European market.

North America

In the United States, fumaric acid prices surged notably in the middle to the first quarter due to several external factors, primarily disruptions in shipping routes, notably in the Red Sea region. The attacks by the Houthi community raised the shipping costs by approximately threefold and added additional delays in delivery schedules for cargo vessels.

As a major importer heavily reliant on China as a primary exporter of fumaric acid, the US faced significant supply chain disruptions and increased freight charges, supporting the rise in fumaric acid prices. In addition to this, the traders also noted that the inventories dried up at a quicker pace as compared to their replenishment and this created a gap between supply and demand of the commodity.

The domestic production was also not sufficient in order to cater to the procurement rates, providing the traders a window to raise their fumaric acid price quotations in the first quarter of 2024. The price increase reflects the complex dynamics shaping the global chemical industry, driven by production dynamics, market demand, currency fluctuations, and geopolitical tensions, requiring proactive strategies and agile responses from stakeholders to effectively manage risks.

Analyst Insight

According to Procurement Resource, the price trend of Fumaric Acid is estimated to stumble with the ongoing trade challenges around the globe facilitated by the rise in crude oil and raw material prices.
 

Fumaric Acid Price Trend for the October - December of 2023

Asia

The Asian fumaric acid price trend followed the trail set by the previous quarter, and thus, after oscillating in the initial months, it moved downwards. In Asian countries, the cost of raw materials such as benzene and maleic anhydride consistently inched lower and thus restricted the growth of the fumaric acid price graph.

Additionally, the shift of the industrial sector from crude oil to green resources caused ripples in the cost of traditional fuels, which was evident in the descending tone of fumaric acid prices. Further, there was no economic relief for the manufacturing sector, and the number of inquiries from domestic and overseas players also hit a new low, projecting a negative impact on fumaric acid price trend.

Europe

The European countries followed the global trend, and here too, the fumaric acid price trend declined throughout Q4’23. The manufacturers had to adjust their production rates in view of inclining stockpiles and meek demand from the end-user solvent industry.

In addition to this, a lack of overseas demand and a considerable fall in the cost of maleic anhydride and benzene pressurized both the traders and producers of fumaric acid. There were some other struggles that were carried forward from the past quarters, such as elevated energy costs and low spending appetite of the consumers that only added to the already dipping market dynamics of fumaric acid.

North America

The condition of the fumaric acid market in North America was not different from the other regions. The reduction in the cost of production based on a fall in feedstock prices and feeble consumer confidence was well translated in the fumaric acid price trend. There was a subtle recovery in the initial months of the quarter, but it was soon challenged by excessive supplies and significant fluctuations in the crude oil and naphtha costs.

Analyst Insight

According to Procurement Resource, the price trend of fumaric acid are expected to continue to battle with adverse market conditions.
 

Fumaric Acid Price Trend for the July - September of 2023

Asia

Fumaric acid continued its sluggish market run of the previous quarter this time around as well. The reasons remained overcrowded inventories and poor buyer sentiment. The major consumer food and beverage industry poses very limited demands, while the pharma and personal care industry procures the required stocks in advance.

Another major reason for such oversaturated stockpiles was that the suppliers anticipated market improvement after the slacking nature of the previous quarter since the Chinese industries were trying hard to get back to pre-pandemic glory. So, the regular influx of unrequited supplies kept acting as a downward force for fumaric acid price trend. Overall, dull market sentiments were observed.

Europe

The European market mirrored the Asian fumaric acid market trend throughout the said period of Q3’23. The fumaric acid price graph showcased regularly falling prices. Along with the feeble consumer demands, the robust availability of cheap Asian imports also affected the European fumaric acid market’s pricing outlook. The general fumaric acid market trend were negative throughout the discussed period of time.

North America

The North American fumaric acid market followed the global trend as the prices kept sliding southward, rallying on the tepid consumer behavior. A cold market run was observed throughout the said quarter.

Analyst Insight

According to Procurement Resource, the Fumaric Acid prices are likely to continue wavering at the lower end since the demand outlook doesn’t seem to be improving anytime soon.
 

Fumaric Acid Price Trend for the First Half of 2023

Asia

During the initial months of the first quarter, the price trend of fumaric acid declined due to the lowering of feedstock maleic acid prices. However, the market inclined significantly towards the end of Q1 as it gained support from the decrease in supply due to the shutting of major manufacturing units.

In the second quarter, the demand turned sluggish, causing a stockpiling of products in the market. The manufacturers were forced to decrease their production outputs and, thus, their price quotations. In addition, the falling sales of the downstream industries, the slow movement of raw materials, and rising interest rates affected market sentiments.

Europe

The first quarter saw an incline in fumaric acid prices as the market attained supply-demand equilibria. It was also supported by rising raw material costs and soaring energy prices. The second quarter, however, did not follow in the steps of the first quarter as the trend declined throughout the quarter.

A significant decline was due to the downward trajectory in the demand sector and the weak performance of the economy. In addition, the feedstock market and strong supply of the product in the region also negatively impacted the prices of fumaric acid.

North America

The prices of fumaric acid inclined in the initial months of the first quarter as the feedstock prices supported the rise in the trajectory. But soon, the trend slid due to significant disruption in the supply and demand dynamics of the North American market. The drop in phenol prices and rising inflation rates, along with a decrease in imports and stagnancy in the demand sector, eventually led to the fall in the price trend of fumaric acid.

Analyst Insight

According to Procurement Resource, fumaric acid prices are expected to showcase a declining trajectory as the demand from the downstream industries and rising inflation rates will impact the market deeply.

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About Fumaric Acid

Fumaric acid is a naturally occurring organic compound with the molecular formula C4H4O4. It is a dicarboxylic acid and is commonly found in certain fruits and vegetables. As a food additive, fumaric acid is used to enhance the tartness and acidity of various products. It also finds applications in the production of beverages, baked goods, and confectionery items. Moreover, fumaric acid is employed in the pharmaceutical and chemical industries, where it serves as a key component in the synthesis of certain drugs and resins.

Fumaric Acid Product Details

Report Features Details
Product Name Fumaric Acid
Chemical Formula C4H4O4
Industrial Uses Food and beverage, Resin production, Cosmetics, Pharmaceuticals
HS Code 29171950
CAS Number 110-17-8
Molecular Weight 116.07 g/mol
Synonyms Donitic acid, Boletic acid, But-2-enedioic acid
Supplier Database Bartek Ingredients Inc, XST Biological Co. Ltd, Changmao Biochemical Engineering Company Limited, Fuso Chemical 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.

Fumaric Acid Production Processes

In this process, benzene is catalytically oxidized in a gaseous phase to yield maleic anhydride. Maleic acid is then created by hydrolyzing maleic anhydride. Finally, fumaric acid is created by further isomerizing maleic acid.

Methodology

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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