North America
Throughout 2024, Trichloroacetic Acid (TCA) prices in North America showed a declining trend with notable fluctuations. In Q1, prices initially strengthened due to supply tightness and increased production costs from rising feedstock prices. By Q2, the market witnessed a significant downturn as supply improved while demand from pharmaceuticals and agrochemicals remained subdued.
The summer months saw prices stabilize briefly before declining further in Q3, influenced by weakened industrial activity and lower raw material costs for key precursors. The fourth quarter continued this downward trajectory with prices falling consistently through December, supported by ample supply despite limited downstream demand, particularly from the fertilizer sector.
Asia
The Asian TCA market experienced mixed trends in 2024, with China being the primary influencer. The year began with price strengthening ahead of the Lunar New Year as manufacturers replenished inventories. However, by Q2, prices declined substantially due to oversupply conditions and weak downstream demand. Mid-year brought some stabilization as production capacities were reduced in major manufacturing hubs like Shandong, helping balance supply-demand dynamics. The third quarter saw modest price recovery driven by improved export activity and stabilized domestic consumption. By Q4, though prices declined overall, the rate of decrease slowed considerably, with the market finding support from moderate demand stabilization and reduced production capacity.
Europe
European TCA prices followed a predominantly bearish trend throughout 2024. The first quarter saw an upward movement driven by escalating energy costs and feedstock prices, particularly acetic acid. However, by Q2, prices began declining significantly due to weakening demand from key sectors and ample inventory levels. Summer brought further downward pressure as seasonal agricultural activity decreased, reducing demand from the pesticide sector. The fourth quarter continued this negative trend, with German markets particularly affected as prices declined due to weak pesticide sector demand, lower feedstock costs, and high inventory levels despite rising methanol prices.