Get the latest insights on price movement and trends analysis of Salicylic Acid in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).
Salicylic Acid Price Trends for the First Half of 2023
Salicylic Acid witnessed mixed price sentiments for the first half of 2023 in the Asian market. Prices first had a positive inclination in Q1 as the Chinese market started picking pace in the post-lockdown era. Trade activities increased, and market normalization enabled suppliers to increase production as demand from the downstream pharma sector rose. But as the inventories were over-supplied and demand kept steady, the market started wavering downwards in the second half of quarter 2.
Salicylic Acid in the European market mimicked the Asian market price trendss in H1 2023. Prices picked up pace in the middle of the first quarter after starting steadily in January. Easing freight systems and normalizing inflation revived market sentiments. Suppliers increased the number of orders to cater to rising and stable demands. But as quarter two approached, inventories were saturated in the face of steady demands, which put the prices on a declining trajectory.
The North American market behaved no differently than global markets for Salicylic Acid in H1 2023. Prices observed fluctuating patterns throughout the said period. Prices rose initially, catering to high demands from downstream sectors. Production ramped up to meet the demands and refill rapidly emptying inventories. By the end of quarter one, a stable supply-demand dynamic had been established. Quarter two witnessed prices shifting downward as excess stocks kept piling up. Overall, the market was fairly stable in the said period.
According to Procurement Resource, the price of Salicylic Acid is expected to continue the same oscillating pattern, with downstream demand driving the price trendss.
Salicylic Acid Price Trends for the Q2, Q3 and Q4 of 2022
Salicylic acid prices witnessed a sharp increase in the quarter ending June 2022. As the supply chains were severed because of the Russia – Ukraine war and the Chinese economy was still in lockdown aftershocks, the prices increased drastically. Salicylic Acid prices varied as per feedstock phenol prices. As Q3 approached, prices started stabilizing in the Asian region as upstream costs started stabilizing. But prices saw a rapid upturn in the last quarter as the Chinese industries started opening and demand from downstream sectors soared. The rise in feedstock phenol prices also pushed the market sentiments up. Overall, the year ended on a higher note for Salicylic Acid in the Chinese market.
European markets were facing the harshest trading time because of the Russia-Ukraine war. Prices for salicylic rose in the second quarter as demands were high and freight management was constrained. The prices remained oscillating afterward for the remaining H2. Market consumption and freight drove the price trendss.
For the North American region, the market mostly hovered at the lower side in Q2 and Q3. Demands were steady, and supply was abundant; hence stable market dynamics were observed. It was in Q4 that the prices took a little upturn as transportation costs and feedstock prices rose, but the market started dipping again by the year-end as the port congestions began to clear and supply chains started restoring.
According to Procurement Resource, the Salicylic Acid projections seem promising for the upcoming month, as high demands are expected from downstream pharma and cosmetics sectors. Supply projections have also improved, so the salicylic acid market is expected to incline.
For the First Quarter of 2022
On March 25, the average price of salicylic acid (industrial grade) from major producers was 17000 RMB/MT, the same as it was at the start of the week and at the start of the month. The price had climbed by 17.51% compared to the same period last year. The salicylic acid market was constant in March, although the emphasis went downward.
The enterprise's price was cut by roughly 200RMB/MT at the end of the month compared to the beginning, and the price adjustment was not significant. During the first quarter of 2022, the price of the raw material phenol fell, the cost support deteriorated and local health events impacted downstream demand, slowed enterprise shipping. Salicylic acid prices were adjusted within a limited range.
For the Fourth Quarter of 2021
As of the 9th December, domestic enterprises' quotations for industrial grade salicylic acid were mostly in the range of 14,900-19,200 RMB/MT while pharmaceutical grade and sublimation grade quotations were in the range of 24,000-27,000 RMB/MT, and 19,500-23,000 RMB/MT, respectively. Zhenjiang Gaopeng Pharmaceutical Co., Ltd., Hebei Jingye Group, Shandong Xinhua Longxin Chemical Co., Ltd., SiddharthCarbochem Products Ltd., and Alta Laboratories Ltd. are the major producers of this chemical in Asia.
The increased production of its derivatives such as aspirin, sodium salicylate, and salicylic acid amine for use in the pharmaceutical sector, as well as the widespread use of the chemical for various dermatological conditions, were its main drivers in this region.
In the quarter ending December, North America witnessed a continuous decline in demand amidst the appreciable improvement in the supply of the chemical. Following the hurricane Ida in Q3, supply steadily improved as plant operations were resumed. By the fourth quarter, plant operating rates had nearly returned to normal, resulting in abundant product availability.
For First, Second and Third Quarters of 2021
The market remained stable in June and corporation quotations were unchanged from the previous month. At all levels, there were no notable changes in the chemical’s market. The majority of industrial-grade enterprises quoted salicylic acid prices in the 13,500-15,500 RMB/MT range.
The average price of industrial grade acid from mainstream producers was 14,666.67 RMB/MT, at the start of August, up 2.33% over the same period last year. The market remained rather constant in August. Within a month, some companies sank initially, then rose, although prices varied somewhat and adjusted in the region of 100-300 RMB/MT.
At the start of August, the market was stable, and corporations were willing to sell at a discount for shipments. Since mid-August, the price of raw phenol had risen, along with the need for certain firms to park for maintenance, on-site supply diminished, and some salicylic acid companies slightly modified the price, and actual transactions were mostly negotiated.
Due to turnarounds at numerous industrial plants, supplies in the European region were balanced to tight during the second quarter of 2021. Import supplies were made easier due to increased imports from the United States.
During the second quarter of 2021, the overall market forecast in North America improved, owing to the rehabilitation of industrial infrastructure in the United States Gulf Coast. In the third quarter of 2021, salicylic acid prices in North America remained stable and balanced. As output levels approached pre-storm levels, the industry observed improving demand and supply dynamics.
The pharmaceutical market in South America was expanding due to the increasing scarcity of pharmaceuticals in various countries. Furthermore, the growing fashion industry had increased demand for skin care products, that had boosted the need for the chemical and was expected to be the market's main driver in 2021. Furthermore, rising urbanisation resulted in an increase in salons, which increased demand for salicylic acid-based products.
For the Year 2020
In China, the market increased slightly in December. Salicylic acid prices were raised by companies. The market was upbeat. Simultaneously, new production capacity entered the market. Manufacturers' goods were in short supply this month due to high demand, orders increased, and export and domestic sales demand increased significantly. According to some companies, exports and domestic sales were cut in half during this time period, and sales were smooth. The industrial enterprise quotations were mostly in the range of 11,000-15,000 RMB/MT.
Salicylic acid prices in India were recorded at 2208 USD/MT. Increased demand for packaged foods and beverages propelled the industry forward. This was mostly due to the increased usage of the chemical in the food and beverage industry, as it aids in the prevention of rotting and fermentation of packaged foods.
The German market price of the chemical was recorded at 4209 USD/MT in January which increased to 4765 USD/MT in February as a result of the slowdown in industrial and commercial activity caused by the European region's economic downturn.
The market price in the US was recorded at 3279 USD/MT in January, 2847 USD/MT in February, 2345 USD/MT in March. As key producers implemented turnarounds, the market forecast in North America remained balanced. Players were wary of the current demand uncertainty, which stemmed from a steady increase in coronavirus numbers in various sections of the region.
In South America, salicylic acid prices were 1975 USD/MT in Brazil, and 2075 USD/MT in Mexico. Because of its anti-inflammatory effects, it is used in medicines. It is a crucial component in the production of aspirin, as it interacts with acetic acid to form aspirin. Aspirin is a pain reliever and anti-inflammatory medicine that is commonly used to treat fever, colds, and cough. Furthermore, it is one of the best-selling pharmaceutical pharmaceuticals in the world, with rising demand due to its exceptional pain-relieving properties.
Procurement Resource provides latest prices of Salicylic Acid. 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.
Salicylic Acid is known to be a monohydroxybenzoic acid. This colorless crystalline organic compound is a type of phenolic acid. It comprises of benzoic acid with hydroxy group at the ortho position. It is extracted from the bark of white willow and wintergreen leaves. It works as an anti-infective and an antifungal agent and is widely used in organic synthesis of various compounds.
|Product Name||Salicylic Acid|
|Industrial Uses||Pharmaceuticals and drugs, Intermediates, Adhesives and sealant chemicals, Food preservation, Antiseptics and antibacterial agents , Finishing agents, Paint and coating additives , Propellants and blowing agents, Solvents|
|Synonyms||69-72-7, 2-Carboxyphenol, 2-Hydroxybenzoic acid|
|Molecular Weight||138.122 g/mol|
|Supplier Database||Zhenjiang Gaopeng Pharmaceutical Co. Ltd, Seqens SAS, Siddharth Carbochem Products Ltd., JM Loveridge Limited, Salicylates and Chemicals Pvt. Ltd., Henan Haofei 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|
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To produce Salicylic Acid from phenol and sodium hydroxide, sodium phenolate (the sodium salt of phenol) is prepared by reacting these two substances. Then, the obtained sodium phenolate is treated with carbon dioxide at high temperature and pressure, which is further acidified using sulphuric acid to produce Salicylic Acid as the result.
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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