Maleic Anhydride Price Trend and Forecast

Maleic Anhydride Regional Price Overview

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

Maleic Anhydride Price Trend for the Q3 of 2024

Asia

In the Asian market, maleic anhydride prices kept oscillating throughout the third quarter of 2024. Continuing the trend from the previous quarter, the price trajectory of maleic anhydride showed a declining trend in July. The market remained cautious.
 

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The downstream sectors, mainly unsaturated resin factories, showed a seasonal decrease in demand as their production remained limited. The main reason production houses did not operate at full capacity as there was ample resin in the market in the said quarter. As the quarter progressed, the prices slipped further down amid the limited cost support from the crude oil market and rigid demand from the downstream sectors.

The traders made cautious purchases as the market entered wait and attitude in anticipation of further decline in the prices. This made the prices rise up again in August and become steady for the short term; the trend could not be sustained, and prices fell again in September. Meanwhile, some production plants, such as Yizheng Chemical Fiber and HSBC Petrochemical, which were shut for maintenance, resumed their production, stabilizing the supply of maleic anhydride.

Europe

The price of maleic anhydride showed mixed trends in the European market throughout the third quarter of 2024. The prices were steady with marginal fluctuations. The upstream cost support was limited for maleic anhydride, and the downstream demand from resins and polymer sectors remained average. The market remained focused on consolidating supply and stabilizing the prices of the commodity. Additionally, NEXTCHEM's subsidiary CONSER, a European company, secured a contract from Al Baleed Petrochemical Company to provide technology licensing, process design, and catalyst supply for a Maleic Anhydride plant in Oman's Salalah Free Zone. The plant will produce 50,000 tons per year, boosting Oman's position in the biodegradable plastics market.

North America

The prices of maleic anhydride in the North American market mirrored the global trends. The prices remained steady with marginal fluctuations. The demand from the resin, plastics, and other sectors was average, and there was limited cost support, which made the prices range bound.

Other macroeconomic factors and geopolitical factors did influence the overall pricing dynamics, however, the domestic maleic anhydride market lacked enthusiasm and exhibited mixed sentiments throughout the said period.

Analyst Insight

According to Procurement Resource, the prices of maleic anhydride are expected to remain volatile in the coming quarter. A cautious downstream procurement is anticipated amidst uncertain trade dynamics.
 

Maleic Anhydride Price Trend for the Q2 of 2024

Asia

In Asia, particularly in China, maleic anhydride prices were impacted by the regional supply and demand balance. Initially, the market sentiments were stabilized by the balanced supply-demand dynamics of the market. However, by the end of Q2, demand from the US players declined as their profitability declined, leading to a surplus in the market and misbalancing the equilibria of the market.

Despite stable manufacturing and supply conditions, the overall demand did not rise significantly enough to offset other market pressures. This eventually pressurized the market momentum, resulting in the southward movement of maleic anhydride prices by the end of the second quarter of 2024.

Europe

In Europe, maleic anhydride prices turned bearish towards the end of the second quarter due to ample supply and weak demand. This easing occurred even as upstream crude prices increased significantly, depreciating the production volumes of the consumers. The rise in crude prices and a decrease in commodity inquiries indicated persistent lower demand for maleic anhydride. However, the market saw an initial rise in prices driven by higher Brent crude and butane prices, coupled with escalating freight charges caused by geopolitical issues and regional port congestion.

Although downstream companies engaged in inventory buildup in anticipation of summer demand, the high freight costs tempered overall market growth. On the other hand, the European imports of maleic anhydride improved in Q1 2024 and continued into Q2, despite of high freight charges, reflected in the freight index indicating strong volume flow between Europe and China. However, later in the quarter, the rising crude prices and mortgage rates dampened business and consumer confidence, reflected in poor contract orders. The automotive demand in Germany provided some stability to polymer prices derived from maleic anhydride, but weaker construction demand weighed down overall market sentiment.

North America

The North American market of maleic anhydride mirrored the market dynamics of Asian and European countries. The market witnessed an initial incline and then a fall in market activities towards the end of the quarter. This price trajectory was dictated by oscillations in the pricing patterns of feedstock commodities and crude oil. The early gains of the market were based on strong demand for the commodity; however, the loss of export figures due to the closure of Baltimore Port and increasing transportation charges depreciated the market momentum, forcing the trend of the market to turn bearish.

Analyst Insight

According to Procurement Resource, the price of Maleic Anhydride is expected to fluctuate under the influence of limited downstream demand and escalating freight charges and longer lead times.
 

Maleic Anhydride Price Trend for the Q1 of 2024

Stay updated with the latest Maleic Anhydride prices, historical data, and tailored regional analysis
 

Asia

In the Asia Pacific region, the market sentiments for maleic anhydride were not very positive during the first quarter of 2024. The procurement patterns suggested a consistent degradation of the price trend in the regional markets, especially India and China. Both upstream and downstream market dynamics were seen pushing the price trajectory negatively. This market behavior was concerning for the suppliers and manufacturers.

The upstream manufacturing and processing costs were constantly ticking up. With feedstock benzene prices rising and energy costs inclining, the suppliers were left with very little to no margins. This forced them to push the prices. However, this sudden incline caused a demand depreciation in the maleic anhydride market. Inventories kept bulking up and started creating reverse pressure on the price graph. Because of this, the Asian price trend for maleic anhydride was mostly found to be oscillating in the downward direction.

Europe

The market situation for maleic anhydride in Europe was no different than in the Asian region. The prices were found to be struggling here as well amidst the lackluster market offtakes and consumer behavior. The region was still grappling with the ill effects of the Russia and Ukraine war, which already entered its third year this year. And similar disruptions in other international markets raised the troubles even more. The domestic trade volumes were insufficient to carry the price weight while the international trade was subjected to difficult shipping and exchange situations. Overall, a feeble market performance was experienced for maleic anhydride in the European markets.

North America

Compared to the global slowdown, the market situation in the American region was a little more stable at the beginning of the quarter in January’24. In the first half of the quarter, the supply and demand dynamics were more equal in America as the polyester, plastics, and automobile industries were still doing their part in maintaining the market balance. However, in the second half of the quarter, the prices turned southward here as well mimicking the global trends. Along with the drooping demands, the constantly escalating upstream costs were also majorly unsettling for suppliers. Overall, a mixed price performance was seen in the American maleic anhydride market during the given time period of Q1’24.

Analyst Insight

According to Procurement Resource, the market projections do not look very positive for Maleic Anhydride moving forward. The current supply and demand outlooks are a little unstable and weak.
 

Maleic Anhydride Price Trend for the October - December of 2023

Asia

The momentum with which the maleic anhydride market started the fourth quarter could not be sustained in the later stages, and thus, after registering a significant uptick, the maleic anhydride price trend faced southwards by the end of Q4. As the year approached its end, the manufacturing sector witnessed significant constraints in their budgets as the investors took on a pessimistic outlook.

This could further be attributed to the reduction in purchasing activities from the consumer sector and the consistent decline in the cost of feedstock materials. Similarly, towards the end phase, the seasonal fluctuations in the market ahead of a holiday season also had a major share in the downward spiral of maleic anhydride price trend.

Europe

The decline in the maleic anhydride price graph during the fourth quarter of 2023 was not as steep as observed in the previous quarters. The market incurred a rough start as the rates of procurement in the polymer and butanediol sectors dipped lower. However, there was a considerable rise in the cost of production due to inclining feedstock prices and rising inflationary pressure along with excessive expenditure on energy production.

As the quarter progressed, the shift in consumer dynamics was also seen along with the downstream industries. They also raised their spending appetite, and it thus proved to be a green signal for the rise in maleic anhydride price trend. Although there were some month-on-month variations in the prices due to supply constraints overall, the trajectory of maleic anhydride price trend moved swiftly.

North America

The economic factors that supported the Maleic Anhydride market in the previous quarter turned opposite in Q4 of 2023. The appreciation in US currency over Asian and the rise in the cost of crude oil, along with consumer interest in the Maleic Anhydride market, turned awry as the year approached its end. The North American region witnessed a downward trend in its raw materials such as benzene and maleic acid prices which could be attributed to a significant cause of the downfall of maleic anhydride price trend.

Analyst Insight

According to Procurement Resource, the price trend of Maleic Anhydride are expected to fluctuate in the upcoming months as the driving factors of the market seem to be under the pressure of challenging global economic conditions and dipping costs of production.
 

Maleic Anhydride Price Trend for the July - September of 2023

Asia

In the Asia Pacific, the forward movement of maleic anhydride price trend was supported by the rise in demand from the downstream industries such as polymer and chemicals industries. The supply of maleic anhydride was also stable during the third quarter of 2023.

This helped in maintaining the supply-demand equilibria. Further, severe fluctuations in the crude oil sector due to the restrictions imposed by OPEC+ and the decline in exports from the majority of oil-producing countries raised the cost of energy production and, in turn, the prices of maleic anhydride.

Europe

The supply of oil in the European countries suffered from the ill consequences of the Russia-Ukraine crisis, which resulted in the rise in the cost of production of maleic anhydride. The rates of inflation slowed down in the region, while the confidence of consumers returned in the market and helped in the rise of maleic anhydride price trend. However, the number of bulk orders of maleic anhydride was still negligible, suggesting the slow recovery of maleic anhydride market trend.

North America

In North America, the surge in the cost of upstream materials supported the growth of maleic anhydride prices. The downstream industries enjoyed a rise in their sales number, which in turn helped in the growth of maleic anhydride prices. The rise in labor wages and increase in prices of crude oil eventually resulted in the rise in the maleic anhydride prices trend.

Analyst Insight

According to Procurement Resource, the price trend of Maleic Anhydride are estimated to enjoy the rise in demand and forward movement of the global economy.
 

Maleic Anhydride Price Trend for the First Half of 2023

Asia

Maleic Anhydride observed mixed price trend in the first half of 2023. The price trend closely depended on the market demands from downstream automobiles, polyester, plastics, chemicals, etc. industries and the costs of feedstocks butane and benzene. As the market started reviving in China, the fresh demands caused the market to incline continuously in the first quarter.

But as the inventories started rising (with excess supplies), the demands didn’t incline in the same manner, leading the Maleic Anhydride prices on a downward trajectory in the second quarter. In the Indian domestic market, the average Maleic Anhydride prices inclined by almost 5% in Q1 and started dipping around April’23. Overall, the market sentiments remained mixed.

Europe

The European Maleic Anhydride market also witnessed similar fluctuating trend as the Asian market. The prices inclined in the first quarter owing to growing feedstock prices and higher demands, whereas the second quarter witnessed a declining pattern since the stocks piled up.

North America

In the North American market, with high inflation and rising interest rates amidst the collapse of two major banks, consumer sentiment was affected severely. With feeble downstream demands, the Maleic Anhydride observed low swinging price trend throughout the first half of 2023.

Analyst Insight

According to Procurement Resource, the price trend for Maleic Anhydride are expected to remain fluctuating in the upcoming months since the downstream demands continue to be riddled with uncertainties amid the current economic scenario.

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