Nonanoic Acid Price Trend and Forecast

Regional Price Overview

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

Nonanoic Acid Price Trend for the Second Half of 2023

Asia

In Asian countries, the surge in the nonanoic acid supply activities and diminished domestic and international demand widened the gap between the supply and demand of the market.

Nonanoic Acid Price Chart

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The industrial slowdowns and the inconsistency in the interest of direct consumers also played a significant role in keeping the price trajectory of nonanoic acid on the lower end of the spectrum throughout the H2 of 2023. Additionally, the number of export shipments from the Asian countries also declined abruptly after the diversion of the Red Sea route due to the ongoing Israel-Hamas conflict.

Europe

Following a similar trend as the global winds, the price trend of nonanoic acid in European countries also faced southwards during the third and fourth quarters of 2023. The third quarter was affected by the ill consequences of the loss in the number of new orders and the decline in the cost of primary raw materials. The nonanoic acid market also faced trading losses incorporated by the sanctions on Russian exports and imports and the Israel-Hamas conflict. During the second quarter, the situation became much more dire as the pressure of inflation increased continuously, and the exponential rise in the stockpiles prompted the traders to reduce their profit margins.

North America

In North America, the market for nonanoic acid encountered a series of challenges, such as excessive supply, poor demand, and a rise in the cost of feedstock materials. During the third quarter, the traders tried to mitigate the losses by slightly lowering their price quotations, but when the situation did not showcase any improvement in the fourth quarter, too, they had to imply significant deduction on their profit margins. Another setback for the market came in the form of loss of export volumes due to drought-like conditions in the Panama Canal, hindering any growth perspective of the nonanoic acid market.

Analyst Insight

According to Procurement Resource, the price trend of Nonanoic Acid is expected to fall in the footsteps of its feedstock materials and demand scenario from the downstream industries.

Nonanoic Acid Price Trend for the First Half of 2023

Asia

The nonanoic acid price trend was dependent on the market activities of its feedstock material, oleic acid. The prices were stable in the first quarter of 2023 as the trend was supported by consistent demand for the product. However, towards the end of the quarter, the prices of nonanoic acid began to decline with low support from the cost of raw materials.

The second quarter proved to be in favor of the nonanoic acid prices owing to high demand from the downstream industries and gradually declining levels of inventories. Another cause of the rise in the prices was the severe disruptions in the supply chains caused by the Russia-Ukraine crisis and extreme weather conditions that depleted the availability of nonanoic acid in the market, thus positively influencing its price trend.

Europe

The European countries faced a decline in the prices of nonanoic acid in the first quarter of 2023, majorly because of the sliding cost of raw materials and freight charges along with a high performance of supply chains while the demand from the downstream industries remained low. However, the second quarter witnessed a surge in the prices of nonanoic acid.

In the second quarter, along with the rise in the number of international inquiries, the domestic demand for nonanoic acid also increased. In addition to this, disruptions in the supply chains and high costs of energy production further helped the price trend of nonanoic acid to move northwards.

North America

The first half of Q1 was stable for the nonanoic acid price trend. In the second half, however, a fall in the cost of raw materials and a rise in the influx of nonanoic acid in the market while the demand remained low hampered the growth of the nonanoic acid price trend. In the second quarter, as seen in the Asia Pacific region, the price trend inclined as the purchasing potential of buyers and surge in procurement rates by the downstream industries supported the rise in the prices of nonanoic acid.

Analyst Insight

According to Procurement Resource, the price trend of Nonanoic Acid is expected to depict a fluctuating trend as the demand from downstream industries and overall market sentiments seem to be uncertain.

Procurement Resource provides latest prices of Nonanoic 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.