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In the first half of 2023, Butanedioic Acid prices in the Asian market mostly hovered at the lower end. Declining feedstock prices and feeble supply and demand contributed to subdued market sentiments, keeping prices low. Europe's market mirrored Asia's, with falling upstream costs and steady demand, resulting in an overall bearish outlook. Similarly, North America's market followed the global slowdown, with declining offtakes due to sufficient inventories supporting downstream demands. Replenishing stocks became cheaper as port congestions cleared and supply chains were restored, anchoring the butanedioic acid market worldwide.
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Definition
Butanedioic acid, also known as succinic acid, is a colorless, odorless dicarboxylic acid with the chemical formula C4H6O4. It occurs naturally in various plant and animal tissues and is used in the production of chemicals, polymers, and pharmaceuticals. It is a crucial component in various industrial processes, including the manufacture of plastics, food additives, and solvents.
Key Details About the Butanedioic Acid Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on the Butanedioic Acid in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as Excel files that can be used offline.
The Butanedioic Acid Price chart, including India Butanedioic Acid price, USA Butanedioic Acid price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
Industrial Uses Impacting the Butanedioic Acid Price Trend:
Butanedioic acid (succinic acid) is utilized in several key industrial applications. It serves as a building block in the production of biodegradable plastics, polyesters, and resins, making it essential in the plastics industry. Additionally, it finds use as a food additive, flavor enhancer, and as a precursor for pharmaceuticals, lubricants, and specialty chemicals.
Key Players:
- BASF SE
- Myriant Corporation
- Dow Chemicals
- Ernesto Ventos S.A.
- Kawasaki Kasei Chemicals Ltd.
- Mitsubishi Chemical Corporation
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