For the Quarter Ending September 2023

North America

During the third quarter, Glyoxylic Acid prices in the North American region experienced mixed sentiments. Although there was an initial increase in prices, a marginal decline of 1.2% occurred in August and September 2023. The rising cost of essential feedstock Nitric Acid, a key component of Glyoxylic Acid, along with tight supply and strong demand from domestic and international markets, exerted upward pressure on prices. July saw heightened demand from the domestic cosmetics sector in the USA, but subsequent months witnessed subdued domestic demand. However, robust performance in downstream industries, especially in India and China during festive seasons, maintained international demand. Drought conditions and low water levels in the Panama Canal in August 2023 led to delayed exports and stockpiled inventories, ultimately easing the product's price within the country. Additionally, amidst inflationary pressure and high-interest rates, a decline in new orders was observed in September 2023, supporting a trend of eased prices.

APAC

In the Asian Glyoxylic Acid market, the first month of the third quarter witnessed an increasing trend, followed by a significant 1.2% decline in prices during August and September 2023. Several factors contributed to this price fluctuation, including a tight initial supply, robust demand from both domestic and international markets, and seasonal demand from the domestic cosmetics sector in July. However, demand from the domestic market waned in the following months. Notably, the strong performance of the downstream industry in international markets, particularly in India during festive seasons, remained robust. The Chinese government's reduction in exports due to rising inflationary pressures resulted in stockpiled inventories within the country. The convergence of these factors led to a narrower gap between supply and demand, supporting the prevailing price trend in the Asian Glyoxylic Acid market.

Get Real Time Prices of Glyoxylic Acid: https://www.chemanalyst.com/Pricing-data/glyoxylic-acid-1489


Europe

In the European Glyoxylic Acid market, the third quarter of 2023 began with an increasing trend in prices during the initial month, followed by a significant decline of 1.2% in August and September. Multiple factors contributed to this price fluctuation, including a constrained supply, robust demand from both domestic and international markets, and seasonal demand from the cosmetics sector in Italy and the U.K. during July. The holiday season in the region further exacerbated the scarcity of the material due to labor shortages and reduced production rates. However, during August and September, demand from the domestic market waned. Increasing inflationary pressures and a global economic slowdown weakened consumer purchasing enthusiasm in the European region, contributing to the declining prices observed during this period.





About Us:

ChemAnalyst is an online platform offering a comprehensive range of market analysis and pricing services, as well as up-to-date news and deals from the chemical and petrochemical industry, globally.

Being awarded ‘The Product Innovator of the Year, 2023’, ChemAnalyst is an indispensable tool for navigating the risks of today's ever-changing chemicals market.

The platform helps companies strategize and formulate their chemical procurement by tracking real time prices of more than 400 chemicals in more than 25 countries.

ChemAnalyst also provides market analysis for more than 1000 chemical commodities covering multifaceted parameters including Production, Demand, Supply, Plant Operating Rate, Imports, Exports, and much more. The users will not only be able to analyse historical data but will also get to inspect detailed forecasts for upto 10 years. With access to local field teams, the company provides high-quality, reliable market analysis data for more than 40 countries.