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Maleic Anhydride Price Trend and Forecast
Get the latest insights on price movement and trend analysis of Maleic Anhydride in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).
Maleic Anhydride Price Trend for the October - December of 2023
The momentum with which the maleic anhydride market started the fourth quarter could not be sustained in the later stages, and thus, after registering a significant uptick, the maleic anhydride price trend faced southwards by the end of Q4. As the year approached its end, the manufacturing sector witnessed significant constraints in their budgets as the investors took on a pessimistic outlook.
This could further be attributed to the reduction in purchasing activities from the consumer sector and the consistent decline in the cost of feedstock materials. Similarly, towards the end phase, the seasonal fluctuations in the market ahead of a holiday season also had a major share in the downward spiral of maleic anhydride price trend.
The decline in the maleic anhydride price graph during the fourth quarter of 2023 was not as steep as observed in the previous quarters. The market incurred a rough start as the rates of procurement in the polymer and butanediol sectors dipped lower. However, there was a considerable rise in the cost of production due to inclining feedstock prices and rising inflationary pressure along with excessive expenditure on energy production.
As the quarter progressed, the shift in consumer dynamics was also seen along with the downstream industries. They also raised their spending appetite, and it thus proved to be a green signal for the rise in maleic anhydride price trend. Although there were some month-on-month variations in the prices due to supply constraints overall, the trajectory of maleic anhydride price trend moved swiftly.
The economic factors that supported the Maleic Anhydride market in the previous quarter turned opposite in Q4 of 2023. The appreciation in US currency over Asian and the rise in the cost of crude oil, along with consumer interest in the Maleic Anhydride market, turned awry as the year approached its end. The North American region witnessed a downward trend in its raw materials such as benzene and maleic acid prices which could be attributed to a significant cause of the downfall of maleic anhydride price trend.
According to Procurement Resource, the price trend of Maleic Anhydride are expected to fluctuate in the upcoming months as the driving factors of the market seem to be under the pressure of challenging global economic conditions and dipping costs of production.
Maleic Anhydride Price Trend for the July-September of 2023
In the Asia Pacific, the forward movement of maleic anhydride price trend was supported by the rise in demand from the downstream industries such as polymer and chemicals industries. The supply of maleic anhydride was also stable during the third quarter of 2023.
This helped in maintaining the supply-demand equilibria. Further, severe fluctuations in the crude oil sector due to the restrictions imposed by OPEC+ and the decline in exports from the majority of oil-producing countries raised the cost of energy production and, in turn, the prices of maleic anhydride.
The supply of oil in the European countries suffered from the ill consequences of the Russia-Ukraine crisis, which resulted in the rise in the cost of production of maleic anhydride. The rates of inflation slowed down in the region, while the confidence of consumers returned in the market and helped in the rise of maleic anhydride price trend. However, the number of bulk orders of maleic anhydride was still negligible, suggesting the slow recovery of maleic anhydride market trend.
In North America, the surge in the cost of upstream materials supported the growth of maleic anhydride prices. The downstream industries enjoyed a rise in their sales number, which in turn helped in the growth of maleic anhydride prices. The rise in labor wages and increase in prices of crude oil eventually resulted in the rise in the maleic anhydride prices trend.
According to Procurement Resource, the price trend of Maleic Anhydride are estimated to enjoy the rise in demand and forward movement of the global economy.
Maleic Anhydride Price Trend for the First Half of 2023
Maleic Anhydride observed mixed price trend in the first half of 2023. The price trend closely depended on the market demands from downstream automobiles, polyester, plastics, chemicals, etc. industries and the costs of feedstocks butane and benzene. As the market started reviving in China, the fresh demands caused the market to incline continuously in the first quarter.
But as the inventories started rising (with excess supplies), the demands didn’t incline in the same manner, leading the Maleic Anhydride prices on a downward trajectory in the second quarter. In the Indian domestic market, the average Maleic Anhydride prices inclined by almost 5% in Q1 and started dipping around April’23. Overall, the market sentiments remained mixed.
The European Maleic Anhydride market also witnessed similar fluctuating trend as the Asian market. The prices inclined in the first quarter owing to growing feedstock prices and higher demands, whereas the second quarter witnessed a declining pattern since the stocks piled up.
In the North American market, with high inflation and rising interest rates amidst the collapse of two major banks, consumer sentiment was affected severely. With feeble downstream demands, the Maleic Anhydride observed low swinging price trend throughout the first half of 2023.
According to Procurement Resource, the price trend for Maleic Anhydride are expected to remain fluctuating in the upcoming months since the downstream demands continue to be riddled with uncertainties amid the current economic scenario.
Procurement Resource provides latest prices of Maleic Anhydride. 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; customization of price currencies and unit; extraction of price data as excel files to be used offline.
Maleic Anhydride, a cyclic anhydride of maleic acid, is a white crystalline solid with an acrid odour, but remains liquid or gas during production. Two acid carbonyl groups and a double bond is present in its structure, which make it useful for broad industrial applications. It derives from natural malic acid. Maleic anhydride and maleic and fumaric acids were first prepared in the 1830s. However, their production at commercial scale did not begin until a century later.
|Manufacturing of unsaturated polyester resins (UPR), Bathroom fixtures, Automobiles, Tanks, Pipes, Spandex fibres, Thermoplastic polyurethanes, Artificial sweeteners and flavouring agents, Hair sprays, Adhesives and floor polishes
|108-31-6, cis-Butenedioic anhydride , 2,5-Furanedione , Maleic Acid Anhydride, Toxilic Anhydride
|Lanxess AG, Huntsman Corporation, MOL Group, Nippon Shokubai Co., Ltd
|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
|US$ (Data can also be provided in local currency)
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In both the routes, butane and benzene are fed into a stream of hot air, and they are passed through a catalyst bed at much higher temperatures. While vanadium pentoxide and molybdenum trioxide serve as a catalyst for the benzene route, vanadium phosphate is utilised for the butane route.
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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Phone:+1 307 363 1045
Phone: +91 1203185500
Phone: +44 7537 132103