Hydroxymethyl Furfural (HMF) Price Trend and Forecast

Hydroxymethyl Furfural (HMF) Regional Price Overview

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

Hydroxymethyl Furfural (HMF) Price Trend for the Second Half of 2023

Asia

The price trend of hydroxymethyl furfural registered a notable incline in its prices during the third quarter of 2023. During these months, the cost of feedstock materials grew exponentially, raising the production cost and in turn the prices of hydroxymethyl furfural.
 

Hydroxymethyl Furfural (HMF) Price Chart

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Additionally, the Chinese currency strengthened in Q3 as compared to the US dollar, with increased the profit margin gained by the traders from exports. However, the fourth quarter did not translate this momentum well and the prices began to decline. Amid the declining cost of energy and increased supply rates, the traders were at the end prompted to lower their hydroxymethyl furfural price quotations.

Europe

In Europe, the consistency in demand from the downstream industries and stability in the feedstock prices helped the hydroxymethyl furfural market to incline in the third quarter of 2023. The growth rate of the industrial sector was also in the green zone, indicating a positive outlook for the European countries. But on the onset of the fourth quarter, the prices began to fluctuate under the influence of rising inflationary pressure.

North America

Throughout the H2 of 2023, the hydroxymethyl furfural prices exhibited volatility as the supply rates overpowered the demand from the domestic downstream industries. The situation became much dire when the shipments through Panama Canal were halted which led to an unprecedented bloom in the inventories. Further, the ongoing economic instability and a double-digit percentage decline in the cost of crude oil also reduced the production prices by a great margin, reducing the hydroxymethyl furfural prices.

Analyst Insight

According to Procurement Resource, the price trends of Hydroxymethyl furfural is expected to face certain uncertanities due to rising economic challenges and restrictions in trading activities.
 

Hydroxymethyl Furfural (HMF) Price Trend for the First Half of 2023

Asia

In the production of hydroxymethyl furfural, hexose sugars such as dextrose serve as the feedstock material. In the first quarter, the cost of feedstock rose with the support of the rising number of inquiries from the international and domestic sectors. The supply chains in the Asia-Pacific region also got disrupted, as observed by the delayed rates of consumption.

In addition to this, after a long period of stagnancy in market activities due to COVID-19 and the holiday season, the improvements in the production rates, along with high consumption from consumers, also contributed to the incline in the price trend of hydroxymethyl furfural. However, in the second quarter, the cost of feedstocks inflated under the pressure of rising rates of interest, and thus, the price trend of hydroxymethyl furfural ultimately declined.

Europe

The fluctuations in the cost of hexose sugars in the first quarter were due to the stagnant demand and ample availability of the materials, which negatively impacted the price trend of hydroxymethyl furfural. However, market conditions improved in the later phase with improvements in the demand from the downstream industries and the positive purchasing potential of consumers.

In addition to this, the gap between supply and demand widened in the second quarter, which further supported the growth of hydroxymethyl furfural prices. But in the later months, the price trend declined significantly as the stocks overflowed, and sliding market conditions resulted in a lowering of consumer confidence that ultimately resulted in the decline in the price trend of hydroxymethyl furfural.

North America

In North America, the prices of hydroxymethyl furfural faced challenges due to the ample number of inventories and flat demand from the downstream industries in the initial phase of the first quarter. The inflation rates and influx of low-cost products from overseas traders also pushed the prices of hydroxymethyl furfural in a negative direction. In the later months, the feedstock prices rose due to high demand and an overall incline in the number of new orders. The cost of hexose sugars in the second quarter also showed a positive growth rate, which ultimately resulted in the rise in the price trend of hydroxymethyl furfural.

Analyst Insight

According to Procurement Resource, the price trend of Hydroxymethyl Furfural (HMF) is estimated to follow an oscillating trend. The prices will majorly be affected by the purchasing capacity of buyers and global economic conditions.

Procurement Resource provides latest prices of Hydroxymethyl Furfural (HMF). 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.