2-Hydroxypropanoic Acid Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data

2-Hydroxypropanoic Acid Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data

Report Format: PDF+Excel | Report ID: SR112024A23021
Buy Now

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 Netherlands 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 prices at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of price trends 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 Price Trend

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 shape the industry landscape.

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 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 price trends. 

Global 2-Hydroxypropanoic Acid Price

The report offers a holistic view of the global 2-hydroxypropanoic acid pricing trends, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level.

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 data on 2-hydroxypropanoic acid prices 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 analysis can be further extended to include detailed 2-hydroxypropanoic acid prices for 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, 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
  • Company Overview
  • Business Description
  • Product Portfolio
  • Recent Trends and Developments
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

  • Scope
    • Historical Data for the Current Month
    • Forecast for Next Month
  • Total Deliverables Per Year: 12 (One Per Month)
  • Includes: One PDF and Excel datasheet per month, Post Purchase Analyst Support throughout the year

Plan B: Quarterly Updates - Annual Subscription

  • Scope
    • Historical Data for the Current Quarter
    • Forecast for Next Quarter
  • Total Deliverables Per Year: 4 (One Per Quarter)
  • Includes: One PDF and Excel datasheet per Quarter, Post Purchase Analyst Support throughout the year

Plan C: Biannually Updates - Annual Subscription

  • Scope
    • Historical Data for the Current Half
    • Forecast for the Next Half
  • Total Deliverables Per Year: 2 (One Per 6 Months)
  • Includes: One PDF and Excel datasheet per Half, Post Purchase Analyst Support throughout the year  
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 volatility, 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, ensuring they remain at the forefront of the 2-hydroxypropanoic acid industry.

Need more help?

  • Speak to our experienced analysts for insights on the current market scenarios.
  • Include additional segments and countries to customize the report as per your requirement.
  • Gain an unparalleled competitive advantage in your domain by understanding how to utilize the report and positively impacting your operations and revenue.
  • For further assistance, please connect with our analysts.
2-Hydroxypropanoic Acid Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data
Purchase options
For 2 Deliverables, Billed Annually

For 4 Deliverables, Billed Annually

For 12 Deliverables, Billed Annually


Benefits of Customization

Personalize this research

Triangulate with your data

Get data as per your format and definition

Gain a deeper dive into a specific application, geography, customer, or competitor

Any level of personalization

Get in Touch With Us
UNITED STATES

Phone: +1-631-791-1145

INDIA

Phone: +91-120-433-0800

UNITED KINGDOM

Phone: +44-753-714-6104

Email: sales@imarcgroup.com

Client Testimonials

Aktive Services

IMARC made the whole process easy. Everyone I spoke with via email was polite, easy to deal with, kept their promises regarding delivery timelines and were solutions focused. From my first contact, I was grateful for the professionalism shown by the whole IMARC team. I recommend IMARC to all that need timely, affordable information and advice. My experience with IMARC was excellent and I can not fault it.

Read More
Greenfish S.A.

The IMARC team was very reactive and flexible with regard to our requests. A very good overall experience. We are happy with the work that IMARC has provided, very complete and detailed. It has contributed to our business needs and provided the market visibility that we required

Read More
Colruyt Group

We were very happy with the collaboration between IMARC and Colruyt. Not only were your prices competitive, IMARC was also pretty fast in understanding the scope and our needs for this project. Even though it was not an easy task, performing a market research during the COVID-19 pandemic, you were able to get us the necessary information we needed. The IMARC team was very easy to work with and they showed us that it would go the extra mile if we needed anything extra

Read More
KRISHAK BHARTI CO-OP LTD

Last project executed by your team was as per our expectations. We also would like to associate for more assignments this year. Kudos to your team.

Read More
Zee Media Corp. Ltd.

We would be happy to reach out to IMARC again, if we need Market Research/Consulting/Consumer Research or any associated service. Overall experience was good, and the data points were quite helpful.

Read More
Arabian Plastic Manufacturing Company Ltd.

The figures of market study were very close to our assumed figures. The presentation of the study was neat and easy to analyse. The requested details of the study were fulfilled. My overall experience with the IMARC Team was satisfactory.

Read More
Sumitomo Corporation

The overall cost of the services were within our expectations. I was happy to have good communications in a timely manner. It was a great and quick way to have the information I needed.

Read More
Hameln Rds

My questions and concerns were answered in a satisfied way. The costs of the services were within our expectations. My overall experience with the IMARC Team was very good.

Read More
Quality Consultants BV

I agree the report was timely delivered, meeting the key objectives of the engagement. We had some discussion on the contents, adjustments were made fast and accurate. The response time was minimum in each case. Very good. You have a satisfied customer.

Read More
TATA Advanced Systems Limited

We would be happy to reach out to IMARC for more market reports in the future. The response from the account sales manager was very good. I appreciate the timely follow ups and post purchase support from the team. My overall experience with IMARC was good.

Read More
Stax

IMARC was a good solution for the data points that we really needed and couldn't find elsewhere. The team was easy to work, quick to respond, and flexible to our customization requests.

Read More