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2-Hydroxypropanoic Acid Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data
Report Format: PDF+Excel | Report ID: SR112024A23021
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2-Hydroxypropanoic Acid Prices December 2023
|
Product
|
Category | Region | Price |
|---|---|---|---|
| 2-Hydroxypropanoic Acid | Chemical | USA | $1289/MT |
| 2-Hydroxypropanoic Acid | Chemical | China | $1056/MT |
| 2-Hydroxypropanoic Acid | Chemical | Germany | $1153/MT |
In the fourth quarter of 2023, the price of the 2-hydroxypropanoic acid in the United States reached 1289USD/MT by December. Similarly, in China, the 2-hydroxypropanoic acid prices hit 1056 USD/MT in the same month. The Germany also saw 2-hydroxypropanoic acid prices reaching 1153 USD/MT during Q4 2023.
2-Hydroxypropanoic Acid Price Trend, Market Analysis, and News
IMARC’s newly published report, titled “2-Hydroxypropanoic Acid Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” offers an in-depth analysis of 2-hydroxypropanoic acid pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.
It encompasses an in-depth review of spot price of 2-hydroxypropanoic acid at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of 2-hydroxypropanoic acid price trend across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.
The report examines the elements influencing 2-hydroxypropanoic acid price fluctuations, such as changes in raw material costs, supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.
2-Hydroxypropanoic Acid Market Analysis
The global 2-hydroxypropanoic acid market size reached US$ 2.04 Billion in 2023. By 2032, IMARC Group expects the market to reach US$ 3.66 Billion, at a projected CAGR of 6.70% during 2023-2032.
- The increasing demand for lactic acid as a preservative, flavor enhancer, and pH regulator in various food and beverage products is influencing the growth of the market. The rising use of processed and convenience food is significantly boosting the market. According to the industry report, India’s packaged convenience food industry as of FY22 boasts a size of INR 3,194 billion and is poised for substantial growth, with approximately 11% CAGR. By FY26, this industry is projected to become a colossal INR 4,883 billion market. Notably, the top 15 companies operating in the Indian packaged convenience food segment collectively account for INR 1300 billion revenue from packaged food.
- The widespread use of lactic acid as a key raw material in the production of polylactic acid (PLA) for manufacturing biodegradable plastics is significantly driving market demand. This trend is fueled by the increasing shift toward sustainable and eco-friendly products. For instance, as per new amendments to India’s Plastic Waste Management (Amendment) Rules, 2024, biodegradable plastics will be defined as materials that are not only capable of degradation by biological processes in specific environments, such as soil or landfill, but also as materials that do not leave any microplastics.
- The market is also driven by the growing consumer focus on skincare and personal grooming products. Lactic acid is a common ingredient in personal care and cosmetic items due to its exfoliating and moisturizing properties which are driving its market. According to the India Brand Equity Foundation (IBEF), the overall personal care and cosmetics market share is expected to grow to US$ 20 billion by 2025 with a CAGR of 25%. On the other hand, the global cosmetics industry is growing at 4.3% CAGR and will reach US$ 450 billion by 2025. By 2025, along with this growth, India will constitute 5% of the total cosmetics market and reach the top five global markets in terms of revenue.
- For instance, in March 2022, Solvay, a global leader in naturally derived beauty polymers, expanded its new range of biodegradable guar-based actions, introduced in December 2021, with two additional thickening and conditioning polymers for beauty care. The two new ingredients, Jaguar NAT SGI and Jaguar Excel will enable beauty brands to address stringent global regulations and growing consumer expectations for more responsible and sustainable beauty products.
- The rising use of lactic acid in the pharmaceutical industry for producing biodegradable polymers for drug delivery systems and medical implants is facilitating the growth of the market.
2-Hydroxypropanoic Acid News
The report covers the latest developments, updates, and trends impacting the global 2-hydroxypropanoic acid market, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, advancements in 2-hydroxypropanoic acid production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the 2-hydroxypropanoic acid price trend.
Latest developments in the 2-hydroxypropanoic acid industry:
- In December 2023, Corbion, the Amsterdam-listed sustainable ingredient company, announced the mechanical completion of its new circular lactic acid manufacturing plant in Rayong, Thailand, consistent with the timeline previously disclosed.
- In October 2023, NatureWorks, a leading manufacturer of polylactic acid (PLA) biopolymers made from renewable resources is making significant progress on the construction of their new fully integrated Ingeo PLA biopolymer manufacturing facility in Nakhon Sawan Province, Thailand. As a fully integrated PLA complex, the plant will include three manufacturing facilities: lactic acid fermentation, lactide monomer production, and polymerization.
Product Description
2-Hydroxypropanoic acid or lactic acid refers to an organic compound with the chemical formula C3H603.
This compound is a carboxylic acid containing a hydroxide group adjacent to the carbon oxide, making it an alpha-hydroxy acid (AHA). It is naturally found in several biological systems, produced by anaerobic respiration in muscles during strenuous exercise and by certain bacteria during the fermentation process.
It has significant applications in different industries including food, cosmetics, and chemicals. In the food industry, it acts as a preservative, flavoring agent, and acidity regulator, commonly found in fermented products such as sauerkraut and yogurt. In cosmetics, it is valued for its exfoliating properties and is employed in skin care products to promote cell turnover and improve skin texture.
In chemicals, it serves as a chemical intermediate in the production of biodegradable plastics, pharmaceuticals, and other chemicals. Its versatility and natural occurrence make lactic acid a crucial component in multiple sectors.
Regional Coverage
The report provides a detailed analysis of the 2-hydroxypropanoic acid market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the 2-hydroxypropanoic acid price trend.
Global 2-Hydroxypropanoic Acid Price
The report offers a holistic view of the global 2-hydroxypropanoic acid pricing trends in the form of 2-hydroxypropanoic acid price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights current price of 2-hydroxypropanoic acid but also provides insights into historical price trends, enabling stakeholders to understand past fluctuations and their underlying causes.
The report also delves into price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed 2-hydroxypropanoic acid demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.
Europe 2-Hydroxypropanoic Acid Price
European 2-hydroxypropanoic acid prices are examined, highlighting the market-specific influences in the region, such as stringent environmental regulations, the competitive landscape, and import-export imbalances that significantly affect pricing structures.
This analysis can be extended to include detailed 2-hydroxypropanoic acid price information for a comprehensive list of countries.
| Region | Countries Covered |
|---|---|
| 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, among other European countries. |
North America 2-Hydroxypropanoic Acid Price
The analysis of 2-hydroxypropanoic acid prices in North America delves into the regional industry dynamics, encompassing the impact of local production capacities and the trade flows between North America and other significant global markets.
Specific 2-hydroxypropanoic acid historical data within the United States and Canada can also be provided.
| Region | Countries Covered |
|---|---|
| North America | United States and Canada |
Middle East and Africa 2-Hydroxypropanoic Acid Price
The report explores the 2-hydroxypropanoic acid pricing trends in the Middle East and Africa, considering factors like regional industrial growth, the availability of natural resources, and geopolitical tensions that uniquely influence market prices.
In addition to region-wise data, information on 2-hydroxypropanoic acid prices for countries can also be provided.
| Region | Countries Covered |
|---|---|
| Middle East & Africa | Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco, among other Middle Eastern and African countries. |
Asia Pacific 2-Hydroxypropanoic Acid Price
The 2-hydroxypropanoic acid pricing trends in Asia Pacific are examined, reflecting the role of the region as a major global production hub and consumer market, with price dynamics heavily influenced by supply chain efficiencies, regional demand surges, and policy shifts in major economies.
This 2-hydroxypropanoic acid price analysis can be expanded to include a comprehensive list of countries within the region.
| Region | Countries Covered |
|---|---|
| Asia Pacific | China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand, among other Asian countries. |
Latin America 2-Hydroxypropanoic Acid Price
The analysis of 2-hydroxypropanoic acid prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, industrial growth, and trade frameworks.
This comprehensive review can be extended to include specific countries within the region.
| Region | Countries Covered |
|---|---|
| Latin America | Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru, among other Latin American countries. |
Report Coverage
| Key Attributes | Details |
|---|---|
| Product Name | 2-Hydroxypropanoic Acid |
| Report Features | Exploration of Historical Trends and Market Outlook, Industry Demand, Industry Supply, Gap Analysis, Challenges, 2-Hydroxypropanoic Acid Price Analysis, and Segment-Wise Assessment. |
| Currency/Units | US$ (Data can also be provided in local currency) or Metric Tons |
| Region/Countries Covered | The current coverage includes analysis at the global and regional levels only. Based on your requirements, we can also customize the report and provide specific information for the following countries: Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, 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* Middle East & Africa: Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco* *The list of countries presented is not exhaustive. Information on additional countries can be provided if required by the client. |
| Information Covered for Key Suppliers |
|
| Customization Scope | The report can be customized as per the requirements of the customer |
| Report Price and Purchase Option |
Plan A: Monthly Updates - Annual Subscription
Plan B: Quarterly Updates - Annual Subscription
Plan C: Biannually Updates - Annual Subscription
|
| Post-Sale Analyst Support | 360-degree analyst support after report delivery |
| Delivery Format | PDF and Excel through email (We can also provide the editable version of the report in PPT/Word format on special request) |
Key Benefits for Stakeholders:
- IMARC’s report presents a detailed analysis of 2-hydroxypropanoic acid pricing, covering global and regional trends, spot prices at key ports, and a breakdown of Ex Works, FOB, and CIF prices.
- The study examines factors affecting 2-hydroxypropanoic acid price trend, including raw material costs, supply-demand shifts, geopolitical impacts, and industry developments, offering insights for informed decision-making.
- The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
- IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The 2-hydroxypropanoic acid price charts ensure our clients remain at the forefront of the industry.
Need more help?
- Speak to our experienced analysts for insights on the current market scenarios.
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- For further assistance, please connect with our analysts.
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