Salicylic Acid Price Trend and Forecast

Salicylic Acid Regional Price Overview

Get the latest insights on price movement and trend analysis of Salicylic Acid in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Salicylic Acid Price Trend for the Q1 of 2024

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Asia

In the Asian salicylic acid market, the prices were observed to be fluctuating within a very limited range for the entire period of Q1 of 2024. Salicylic acid is produced using phenol and sodium hydroxide. So, its price trend is usually dependent on the market behavior of its feedstock materials. Salicylic acid has been in huge demand for the last few months, especially from the pharmaceutical and cosmetic industries. Because of these escalated demands, the suppliers got a little less carefree while ordering products.
 

Salicylic Acid Price Chart

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This approach resulted in an oversupply of inventories and started creating downward pressure on the price trend. Demands were still steady and almost stagnated after a point. As a result, a very marginal depreciation was witnessed in the regional salicylic acid prices. In the Indian salicylic acid market, the prices went from about 1383 USD/MT in January’24 to about 1368 USD/MT in March’24. Overall, a steady performance was witnessed in Q1’24.

Europe

The European salicylic acid market reflected the changes in the Asian market during the first quarter of 2024. The pharma and skincare industries have been great customers of salicylic acid in the previous quarter. Building upon this, the suppliers anticipated good results as the New Year arrived. However, the downstream demands started plateauing during this period. This was a normalizing factor for the European salicylic acid industry. However, the biggest inclination came from the hefty rise in crude oil prices. The price curve was witnessed to be acquiring a flattening curvature as time progressed. Overall, the European salicylic acid market remained anchored during the said period of Q1’24.

North America

The American salicylic acid market could not behave any differently than its Asian and European counterparts. The price trend exhibited borderline buoyancy here as well. Price trends experienced both upward and downward forces from the market drivers, and thus, the prices largely remained tugged throughout the said period. Demands were the downward pulling factor, while the heightening energy and manufacturing costs provided the upward push. As a result, the prices exhibited an almost stagnating pattern for the entire period of Q1’24.

Analyst Insight

According to Procurement Resource, not much change is anticipated in the Salicylic Acid market prices in the coming months; market dynamics largely look stable for the coming quarter.
 

Salicylic Acid Price Trend for the October - December of 2023

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Asia

Salicylic Acid is a phenolic acid that is seeing rising interest from the personal care and cosmetic industries for its antimicrobial and antifungal applications. During the fourth quarter of the year 2023, the market trend for salicylic acid were observed to be largely mixed for the majority of the said period.

Due to the overflowing inventory stocks, the Indian market started slow at the beginning of the quarter. However, the market prices quickly rebounded and grew further in the second half of the quarter as the market demands pushed the market trend upwards. The monthly average prices went from about 1296 USD/MT in October’23 to around 1334 USD/MT in December’23 in the Indian salicylic acid market.

Europe

The European market trend for salicylic acid also fluctuated at the edge during the given quarter of the year 2023. Driven by the feedstock phenol and sodium hydroxide market prices, the salicylic acid prices varied within very confined limits in the European market during Q4’23.

North America

The American salicylic acid market was also not much different from the other major global markets during the fourth quarter of the year 2023. The supply hindrances pushed the prices forward and resulted in narrow fluctuations in the price trend, mostly tilted towards the positive side.

Analyst Insight

According to Procurement Resource, the Salicylic Acid price trend are expected to continue to rise in the coming months, the demand outlook seems supportive of the current market trend.
 

Salicylic Acid Price Trend for the July - September of 2023

Asia

The salicylic acid market in Asia mostly ran low during the said time of Q3’23. After a splendid price trajectory in the first half, the salicylic acid prices finally started subsiding in the Asian market during the given period.

The primary driver for the salicylic acid price curve has been the downstream demands from the pharma and cosmetics industry. This resulted in inclinations in the price curve earlier this year; however, the market demands didn’t grow and plateaued after a certain point, but the suppliers didn’t restrict the purchases, anticipating higher returns.

This widened the gap between the supply and demand dynamics of salicylic acid and pushed the salicylic acid price graph downwards. The Indian domestic market reported a quarterly dip of around 6% as the monthly average prices shifted from around 1367 USD/MT (CIF) in July 2023 to about 1277 USD/MT in September 2023. Overall, falling price trend were experienced.

Europe

The salicylic acid prices varied throughout the span of quarter three in the European market. After having a strong start at the beginning in July the market prices dipped marginally in the following month as the customer interest fell a bit. However, by the end of the quarter, the market prices had started rebounding since the supply and demand disparity receded substantially. Overall, mixed market sentiments were observed.

North America

The American cosmetics and pharmaceuticals industry provided a major push to the salicylic acid prices during the given period of Q3’23. Despite the prevailing economic uncertainties in the region, the salicylic acid price graph elevated throughout the said period of Q3’23. The market outlook was relatively positive during the said time period.

Analyst Insight

According to Procurement Resource, Salicylic Acid prices are most likely to have a moderate run in the coming months. Since the supply and demand trajectories are increasingly overlapping, the markets are likely to strive for stabilization going forward.
 

Salicylic Acid Price Trend for the First Half of 2023

Asia

Salicylic Acid witnessed mixed price sentiments for the first half of 2023 in the Asian market. Prices first had a positive inclination in Q1 as the Chinese market started picking pace in the post-lockdown era.

Trade activities increased, and market normalization enabled suppliers to increase production as demand from the downstream pharma sector rose. But as the inventories were over-supplied and demand kept steady, the market started wavering downwards in the second half of quarter 2.

Europe

Salicylic Acid in the European market mimicked the Asian market price trend in H1 2023. Prices picked up pace in the middle of the first quarter after starting steadily in January. Easing freight systems and normalizing inflation revived market sentiments. Suppliers increased the number of orders to cater to rising and stable demands. But as quarter two approached, inventories were saturated in the face of steady demands, which put the prices on a declining trajectory.

North America

The North American market behaved no differently than global markets for Salicylic Acid in H1 2023. Prices observed fluctuating patterns throughout the said period. Prices rose initially, catering to high demands from downstream sectors.

Production ramped up to meet the demands and refill rapidly emptying inventories. By the end of quarter one, a stable supply-demand dynamic had been established. Quarter two witnessed prices shifting downward as excess stocks kept piling up. Overall, the market was fairly stable in the said period.

Analyst Insight

According to Procurement Resource, the price of Salicylic Acid is expected to continue the same oscillating pattern, with downstream demand driving the price trend.
 

Salicylic Acid Price Trend for the Second, Third and Fourth Quarters of 2022

Asia

Salicylic acid prices witnessed a sharp increase in the quarter ending June 2022. As the supply chains were severed because of the Russia – Ukraine war and the Chinese economy was still in lockdown aftershocks, the prices increased drastically. Salicylic Acid prices varied as per feedstock phenol prices.

As Q3 approached, prices started stabilizing in the Asian region as upstream costs started stabilizing. But prices saw a rapid upturn in the last quarter as the Chinese industries started opening and demand from downstream sectors soared. The rise in feedstock phenol prices also pushed the market sentiments up. Overall, the year ended on a higher note for Salicylic Acid in the Chinese market.

Europe

European markets were facing the harshest trading time because of the Russia-Ukraine war. Prices for salicylic rose in the second quarter as demands were high and freight management was constrained. The prices remained oscillating afterward for the remaining H2. Market consumption and freight drove the price trend.

North America

For the North American region, the market mostly hovered at the lower side in Q2 and Q3. Demands were steady, and supply was abundant; hence stable market dynamics were observed. It was in Q4 that the prices took a little upturn as transportation costs and feedstock prices rose, but the market started dipping again by the year-end as the port congestions began to clear and supply chains started restoring.

Analyst Insight

According to Procurement Resource, the Salicylic Acid projections seem promising for the upcoming month, as high demands are expected from downstream pharma and cosmetics sectors. Supply projections have also improved, so the salicylic acid market is expected to incline.
 

Salicylic Acid Price Trend for the First Quarter of 2022

Asia

On March 25, the average price of salicylic acid (industrial grade) from major producers was 17000 RMB/MT, the same as it was at the start of the week and at the start of the month. The price had climbed by 17.51% compared to the same period last year. The salicylic acid market was constant in March, although the emphasis went downward.

The enterprise's price was cut by roughly 200RMB/MT at the end of the month compared to the beginning, and the price adjustment was not significant. During the first quarter of 2022, the price of the raw material phenol fell, the cost support deteriorated and local health events impacted downstream demand, slowed enterprise shipping. Salicylic acid prices were adjusted within a limited range.
 

Salicylic Acid Price Trend For the Fourth Quarter of 2021

Asia

As of the 9th December, domestic enterprises' quotations for industrial grade salicylic acid were mostly in the range of 14,900-19,200 RMB/MT while pharmaceutical grade and sublimation grade quotations were in the range of 24,000-27,000 RMB/MT, and 19,500-23,000 RMB/MT, respectively. Zhenjiang Gaopeng Pharmaceutical Co., Ltd., Hebei Jingye Group, Shandong Xinhua Longxin Chemical Co., Ltd., SiddharthCarbochem Products Ltd., and Alta Laboratories Ltd. are the major producers of this chemical in Asia.

The increased production of its derivatives such as aspirin, sodium salicylate, and salicylic acid amine for use in the pharmaceutical sector, as well as the widespread use of the chemical for various dermatological conditions, were its main drivers in this region.

North America

In the quarter ending December, North America witnessed a continuous decline in demand amidst the appreciable improvement in the supply of the chemical. Following the hurricane Ida in Q3, supply steadily improved as plant operations were resumed. By the fourth quarter, plant operating rates had nearly returned to normal, resulting in abundant product availability.
 

Salicylic Acid Price Trend For First, Second and Third Quarters of 2021

Asia

The market remained stable in June and corporation quotations were unchanged from the previous month. At all levels, there were no notable changes in the chemical’s market. The majority of industrial-grade enterprises quoted salicylic acid prices in the 13,500-15,500 RMB/MT range.

The average price of industrial grade acid from mainstream producers was 14,666.67 RMB/MT, at the start of August, up 2.33% over the same period last year. The market remained rather constant in August. Within a month, some companies sank initially, then rose, although prices varied somewhat and adjusted in the region of 100-300 RMB/MT.

At the start of August, the market was stable, and corporations were willing to sell at a discount for shipments. Since mid-August, the price of raw phenol had risen, along with the need for certain firms to park for maintenance, on-site supply diminished, and some salicylic acid companies slightly modified the price, and actual transactions were mostly negotiated.

Europe

Due to turnarounds at numerous industrial plants, supplies in the European region were balanced to tight during the second quarter of 2021. Import supplies were made easier due to increased imports from the United States.

North America

During the second quarter of 2021, the overall market forecast in North America improved, owing to the rehabilitation of industrial infrastructure in the United States Gulf Coast. In the third quarter of 2021, salicylic acid prices in North America remained stable and balanced. As output levels approached pre-storm levels, the industry observed improving demand and supply dynamics.

Latin America

The pharmaceutical market in South America was expanding due to the increasing scarcity of pharmaceuticals in various countries. Furthermore, the growing fashion industry had increased demand for skin care products, that had boosted the need for the chemical and was expected to be the market's main driver in 2021. Furthermore, rising urbanisation resulted in an increase in salons, which increased demand for salicylic acid-based products.
 

Salicylic Acid Price Trend For the Year 2020

Asia

In China, the market increased slightly in December. Salicylic acid prices were raised by companies. The market was upbeat. Simultaneously, new production capacity entered the market. Manufacturers' goods were in short supply this month due to high demand, orders increased, and export and domestic sales demand increased significantly. According to some companies, exports and domestic sales were cut in half during this time period, and sales were smooth. The industrial enterprise quotations were mostly in the range of 11,000-15,000 RMB/MT.

Salicylic acid prices in India were recorded at 2208 USD/MT. Increased demand for packaged foods and beverages propelled the industry forward. This was mostly due to the increased usage of the chemical in the food and beverage industry, as it aids in the prevention of rotting and fermentation of packaged foods.

Europe

The German market price of the chemical was recorded at 4209 USD/MT in January which increased to 4765 USD/MT in February as a result of the slowdown in industrial and commercial activity caused by the European region's economic downturn.

North America

The market price in the US was recorded at 3279 USD/MT in January, 2847 USD/MT in February, 2345 USD/MT in March. As key producers implemented turnarounds, the market forecast in North America remained balanced. Players were wary of the current demand uncertainty, which stemmed from a steady increase in coronavirus numbers in various sections of the region.

Latin America

In South America, salicylic acid prices were 1975 USD/MT in Brazil, and 2075 USD/MT in Mexico.  Because of its anti-inflammatory effects, it is used in medicines. It is a crucial component in the production of aspirin, as it interacts with acetic acid to form aspirin. Aspirin is a pain reliever and anti-inflammatory medicine that is commonly used to treat fever, colds, and cough. Furthermore, it is one of the best-selling pharmaceutical pharmaceuticals in the world, with rising demand due to its exceptional pain-relieving properties.

Procurement Resource provides latest prices of Salicylic Acid. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.