Sorbic Acid Price Trend and Forecast

Regional Market Overview

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

Sorbic Acid Price Trend for the October - December of 2023

Asia

Sorbic acid price trend are primarily influenced by the market patterns of its feedstock material, succinic anhydride. During the last quarter of the year 2023, sorbic acid prices were observed to be stuttering at the lower level of the curve for the entire period.

Sorbic Acid Price Chart

Sorbic Acid Price Trends

Please Login or Subscribe to Access the Sorbic Acid Price Chart Data
 

The feedstock prices were unable to provide any substantial upstream cost support, and the market demands were also not sufficient to sail the market alone. Overall, plunging price trend were witnessed in Q4’23.

Europe

The European sorbic acid market trend were not much different from the Asian market. The prices were observed to be plummeting here as well. Since the Israel-Hamas war broke out, the offshore trade has been severely impacted. The transportation hurdles that occurred because of these geopolitical tensions heavily influenced the sorbic acid price trend during the given period. Since the depletion in exports created a supply surplus in the region, sorbic acid prices were observed to be plunging throughout the said period.

North America

The North American sorbic acid market trend were no different than its Asian and European counterparts. The prices were found to be dropping low on the price scale throughout the said period, given the dull market sentiments amid a challenging economic environment.

Analyst Insight

According to Procurement Resource, the Sorbic Acid price trend are expected to ride along similar lines in the coming months as the uncertain downstream demands will continue to guide the concerned market.

Sorbic Acid Price Trend for the July-September of 2023

Asia

Sorbic Acid price trend for the Asian region were found to be downward facing trajectory during the third quarter of 2023. Most of the market drivers for sorbic acid acted against its performance on the price index. The feedstock succinic anhydride was readily available, which reduced the production costs.

The construction sector was already struggling owing to the economic downturn; further, the sorbic acid demands from other downstream adhesive and sealant sectors remained on the downside. The end consumer purchasing power significantly came down after a prolonged period of high global inflation, and the expenditures in leather textiles, cosmetics, construction, etc., have also fallen substantially. This customer disinterest directly impacted the sorbic acid sales in the Asian markets, especially China, and the sorbic acid regional prices continued to perform poorly.

Europe

Just like the Chinese market, there was not much weight in the sorbic acid’s performance in the European market as well. The prices kept falling down consistently as the downstream demands were bearish, and the production costs had also come down. Moreover, offshore product procurement was also cheaper during the discussed period of Q3’23 since the transportation charges had also receded with the decline in crude oil prices. Overall, muted market sentiments were observed.

North America

Following the global falling trend, sorbic acid prices continued their southward journey in the American market as well. The clouded economic outlook of the region didn’t allow the sorbic acid market to open up. Overall, dull market trend were experienced.

Analyst Insight

According to Procurement Resource, the price forecasts do not look very positive for Sorbic Acid for the coming months, given the current market fundamentals.

Sorbic Acid Price Trend for the First Half of 2023

Asia

The first and second quarters of 2023 faced a continuous string of declining prices of sorbic acid as the trend suffered majorly from the weak procurement rates from the end-user industries. The number of inquiries from the downstream industries was affected by the weak movement of food and pharmaceutical industries.

Along with this subdued demand, the level of inventories rose, indicating weak trading sentiments and hampering the growth of sorbic acid prices. Other causes of this falling trajectory of prices were the feeble economic condition of the Asia-Pacific countries and the low interest of international buyers in the sorbic acid market.

Europe

In the first quarter, the feeble demand from the downstream industries was due to a declining interest from customers in the sector. The rising level of inventories and reduction in the cost of ethylene further proved to be a challenge for the sorbic acid price trend. In addition to this, the shifting weather conditions, labor crisis, and lower purchasing appetite of buyers pushed the price trend of sorbic acid in a negative direction.

North America

In North America, the end-user industries reduced their demand for sorbic acid, and along with fluctuating costs of energy and freight, the price trend of sorbic acid declined. In the local markets, the food and beverage industries witnessed a continuous decline in both the first and second quarters of 2023. This further led to the rise in the stockpiles, and thus, the traders had to sell the products at compromised rates, hampering the growth of the sorbic acid price trend.

Analyst Insight

According to Procurement Resource, the price trend of Sorbic Acid is expected to fall in the coming quarter. The weak performance of downstream markets, high levels of inventories, and rising economic concerns are expected to affect the sorbic acid market negatively.

Procurement Resource provides latest prices of Sorbic 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.

Please Login or Subscribe to explore our dashboard.

About

Sorbic acid is a white crystalline solid with high solubility in water, popular for its antimicrobial activities. This acid is thus highly effective in food and cosmetics industries where it acts as a preservative. It helps in inhibiting the growth of molds, yeasts, and therefore helps in increasing the shelf life of the products. In addition to food and cosmetic industries, it is also used in the leather-textiles, detergents, plastics, and adhesives industries.

Product Details

Report Features Details
Product Name Sorbic Acid
Chemical formula C6H8O2
Industrial Uses Cosmetics, Adhesives and sealants, Animal Feed, Leather and textiles, Pharmaceuticals, Plastics and polymers
CAS Number 110-44-1
Molecular weight 112.13 g/mol
HS Code 29161960
Synonyms 2,4-hexadecenoic acid
Supplier Database Eastman Chemical Company, Solvay, Celanese Corporation, Prinova Group LLC, Continental Chemical USA, ROSE FOODSTUFF CHEMISTRY COMPANY LIMITED, Seidler Chemical Co Inc
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.

Production Processes

In the commercial synthesis of sorbic acid, the esterification reaction between alcohol and succinic anhydride is carried out.

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).

Assistance from Experts

Procurement Resource is a one-stop solution for businesses aiming at the best industry insights and market evaluation in the arena of procurement. Our team of market leaders covers all the facets of procurement strategies with its holistic industry reports, extensive production cost and pre-feasibility insights, and price trends dynamics impacting the cost trajectories of the plethora of products encompassing various industries. With the best analysis of the market trends and comprehensive consulting in light of the best strategic footstep, Procurement Resource got all that it takes.

Client's Satisfaction

Procurement Resource has made a mark for itself in terms of its rigorous assistance to its clientele. Our experienced panel of experts leave no stone unturned in ensuring the expertise at every step of our clients' strategic procurement journey. Our prompt assistance, prudential analysis, and pragmatic tactics considering the best procurement move for industries are all that sets us apart. We at Procurement Resource value our clients, which our clients vouch for.

Assured Quality

Expertise, judiciousness, and expedience are the crucial aspects of our modus operandi at Procurement Resource. Quality is non-negotiable, and we don't compromise on that. Our best-in-class solutions, elaborative consulting substantiated by exhaustive evaluation, and fool-proof reports have led us to come this far, making us the ‘numero uno' in the domain of procurement. Be it exclusive qualitative research or assiduous quantitative research methodologies, our high quality of work is what our clients swear by.

Table Of Contents

Our Clients

client-image

Get in Touch With Us

flag
UNITED STATES

Phone:+1 307 363 1045

flag
INDIA

Phone: +91 1203185500

flag
UNITED KINGDOM

Phone: +44 7537 132103

Email: sales@procurementresource.com

NEWSLETTER

Get latest News About Procurement Resource
Subscribe for news

This site uses cookies (including third-party cookies) to record user’s preferences. See our Privacy PolicyFor more.