Glyoxylic Acid Price Trend

Glyoxylic Acid Prices June 2023

The price of glyoxylic acid in the United States had a mixed trend in the second quarter of 2023 as compared to the first quarter. It was settled at 1741 USD/MT in June 2023. Moreover, the first month of Q4 experienced an increase due to protracted drought conditions, higher feedstock nitric acid and upstream ammonia rates, and supply chain interruptions. However, due to the availability of extra stock inventories, the price rate decreased at the conclusion.

The pricing trend for glyoxylic acid in China settled at 1240 USD/MT in June, owing to rising demand from the local and foreign cosmetic and haircare sectors. However, at the end of December, the market saw a price drop. This was linked to continual cargo delays caused by supply chain interruptions, which resulted in surplus port inventories.

In June 2023, Belgium's glyoxylic acid price was 3080 USD/MT, the market saw a mixed trend. Prices rose in October and November due to higher feedstock nitric acid and upstream ammonia prices, as well as increased demand from exporting nations. However, in December, the rate fell due to volatility in supply chain routes and the application of additional tariffs by importing nations, resulting in greater inventories.

In June, the price of glyoxylic acid in France was 4041 USD/ MT. Prices fell in December compared to June due to heightened tensions in the Red Sea supply chain route. Furthermore, the implementation of additional fees by importing nations, making them hesitant to acquire bulk supplies and raising inventory levels, supported the downward trend.

Glyoxylic Acid Price Trend, Market Analysis, and News

IMARC’s newly published report, titled “Glyoxylic Acid Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” offers an in-depth analysis of glyoxylic 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 glyoxylic acid at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of glyoxylic acid price trend across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

The report examines the elements influencing glyoxylic 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.

Glyoxylic Acid Market Analysis

The global glyoxylic acid market size reached 195.8 Kilotons in 2023. By 2032, IMARC Group expects the market to reach 330.9 Kilotons, at a projected CAGR of 6.00% during 2023-2032.

• The increasing product demand in cosmetics sector for utilization in hair straightening and conditioning agents is one of the key factors driving the market growth. This chemical is responsible for improving the efficacy and longevity of many formulations. The market for cosmetics is growing at a yearly pace of 4.8%, reaching US$ 618.7 Billion by 2032. Also, Europe is a huge market for cosmetics, with a value of €88 billion in sales. Its market is divided into nations that contribute to its rising popularity in the cosmetics and personal care sector. Germany amounted to €14.3 billion share, France €12.9 billion, Italy €11.5 billion, the UK €10.5 billion, Spain €9.3 billion, and Poland (€4.5 billion). This has increased the need for glyoxylic acid in Europe to deliver effective cosmetic products to the world.
• The widespread product utilization in pharmaceutical sector produce antibiotics and other medications is acting as another growth-inducing factor. The pharmaceutical industry is expanding at an incredible rate due to the rising healthcare costs, infrastructure development, and better public knowledge. For instance, the pharmaceutical sector in the UK generates 40.8 billion pounds in revenue annually. Similarly, in the US, healthcare spending saw a hike of 4.1%, reaching $4.5 trillion or $13493/person. Furthermore, the Indian pharmaceutical industry is expected to reach a valuation of $130 billion by 2030. Also, India exports a large quantity of pharmaceuticals to over 200 countries. The country supplies over 50% of Africa’s requirement for generics, 40% of generic demand in the US, and 25% of all medicine in the UK.
• The significant growth in food and beverage (F&B) sector is creating a positive outlook for the market. Moreover, rising product demand in this sector for manufacturing vanillin, which is a flavoring agent, is expanding its market share. The F&B sector across the globe is growing at an incredible rate. In emerging economies like India, it will reach a valuation of US$ 470 billion by financial year 2025, rising from USD 263 billion in 2021. Moreover, in regions like Europe, the industry for food and beverages generated a total turnover of €1.1 trillion in 2023.
• In the water treatment sector, glyoxylic acid is essential to remove pollutants and impurities. It facilitates reducing organic pollutants and enhancing its adoption in municipal and industrial wastewater treatment plants. Additionally, the substance’s compatibility with other water treatment chemicals makes it an important part of comprehensive water purification strategies. 8 out of 10 people in rural regions lack access to clean drinking water, as per the most recent data from UNICEF and the WHO. Also, children under the age of five report 1.7 billion cases of diarrhea annually. These alarming facts highlight how crucial glyoxylic acid is to guarantee the safety of water for several applications throughout the day.

Glyoxylic Acid News

The report covers the latest developments, updates, and trends impacting the global glyoxylic 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 glyoxylic acid production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the glyoxylic acid price trend.

Latest developments in the glyoxylic acid industry:

• In August 2023, Guolin New Materials announced the expansion of its high-quality glyoxylic acid business to the European market. This expansion will help the company to expand its geological presence and serve more customers in the region.
• In June 2022, Eastman Chemical Company announced the launch of its new glycolic acid product line for use in personal care and cosmetics applications.

Product Description

Glyoxylic acid is a colorless liquid that is highly reactive and found in a solution form. It is known for its versatility in chemical reactions, particularly for its ability to participate in condensation reactions. Glyoxylic acid is produced from glyoxal through oxidation processes and can be derived from ethylene glycol or acetic acid via different synthesis routes. It exhibits unique properties, such as a melting point of approximately 98°C and a boiling point of 111°C at 5mm Hg pressure.

Glyoxylic acid finds applications in the production of vanillin, pharmaceuticals, cosmetics, textile bleaching, pesticide manufacturing, leather tanning, polymer production, water treatment, organic synthesis, and skincare formulations. It offers numerous benefits, such as enhanced flavor in food, improved pharmaceutical efficacy, quality textiles, effective agricultural chemicals, and high-performance cosmetic products. Moreover, it is lauded for its cost-effectiveness, eco-friendly properties, high reactivity, non-toxic nature, and global availability.

Regional Coverage

The report provides a detailed analysis of the glyoxylic 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 glyoxylic acid price trend.

Global Glyoxylic Acid Price

The report offers a holistic view of the global glyoxylic acid pricing trends in the form of glyoxylic 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 glyoxylic 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 glyoxylic 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 Glyoxylic Acid Price

In the European market, Q2 2023 showed a positive trend with rising prices, particularly in Belgium, France, and Italy. Increased demand from the cosmetic and haircare industries and supply chain disruptions significantly influenced the market. Despite a general decline in industrial production indices, the glyoxylic acid market remained bullish.

Moving to Q1 2024, the market experienced volatility with initial price declines followed by significant increases. The demand surged in anticipation of various festivities and the approaching summer season, which, combined with operational slowdowns during celebrations, exacerbated supply constraints and led to higher prices.

This analysis can be extended to include detailed glyoxylic acid price information for a comprehensive list of countries.

North America Glyoxylic Acid Price

In Q2 2023, the North American Glyoxylic Acid market experienced a decline in prices due to reduced demand from the personal care and haircare sectors and high operational costs. Lower feedstock prices and logistical challenges due to low river levels further influenced the market. Despite these factors, expectations of rising feedstock prices hinted at a potential price increase in the near future.

Moving to Q1 2024, the market showed robust performance, driven by strong demand in cosmetics and haircare. Celebrations around the New Year initially boosted demand, which remained high in anticipation of upcoming seasonal festivities. However, festive-related slowdowns in manufacturing operations put pressure on supply, leading to rising market prices.

Specific glyoxylic acid historical data within the United States and Canada can also be provided.

Middle East and Africa Glyoxylic Acid Price

The report explores the glyoxylic 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 glyoxylic acid prices for countries can also be provided.

Asia Pacific Glyoxylic Acid Price

During Q2 2023, the Asian glyoxylic acid market saw a downturn in prices, primarily due to decreased demand in the cosmetic and haircare sectors and a drop in feedstock prices. Despite stockpiles and low demand, there were expectations of price recovery based on economic conditions.

In contrast, Q1 2024 was marked by volatility, with initial subdued demand in China and South Korea. However, demand and prices increased significantly as the quarter progressed, driven by anticipation of major festivities and a revival in the personal care sector. Operational deceleration during the festive season further tightened the supply, pushing prices upward.

This glyoxylic acid price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America Glyoxylic Acid Price

The analysis of glyoxylic 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.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of glyoxylic 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 glyoxylic 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 glyoxylic acid price charts ensure our clients remain at the forefront of the industry.