The latest report by IMARC Group, titled "Citric Acid Pricing Report 2024: Price Trend, Chart, Industry Analysis, News, Demand, Historical and Forecast Data," provides a thorough examination of the Citric Acid Price Trend. This report delves into the Price of Citric Acid globally, presenting a detailed analysis, along with an informative price chart. Through comprehensive Price analysis, the report sheds light on the key factors influencing these trends. Additionally, it includes historical data to offer context and depth to the current pricing landscape. The report also explores the demand, analyzing how it impacts industry dynamics. To aid in strategic planning, the price forecast section provides insights into price forecasts, making this price report an invaluable resource for industry stakeholders.
Citric Acid Prices Second Quarter 2024:
- United States: 906 USD/MT
- South Korea: 787 USD/MT
- Germany: 921 USD/MT
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The study delves into the factors affecting citric acid price variations, including alterations in the cost of raw materials, the balance of supply and demand, geopolitical influences, and sector-specific developments.
The report also incorporates the most recent updates from the industry, equipping stakeholders with the latest information on industry fluctuations, regulatory modifications, and technological progress. It serves as an exhaustive resource for stakeholders, enhancing strategic planning and forecast capabilities.
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Key Highlights of the Citric Acid Price Trend
The citric acid market continues to be driven by steady demand across several industries, such as food and beverages, pharmaceuticals, and household cleaners. In North America, stable supply chains and well-managed inventories help maintain a balanced pricing environment despite external challenges like logistical disruptions and geopolitical issues. In the Asia-Pacific region, rising raw material costs, especially for corn, and strong demand are pushing prices upward, with China's export dynamics having a significant influence. In Europe, the market has remained stable, thanks to consistent production and minimal disruptions, resulting in balanced supply-demand conditions.
Factors influencing citric acid prices in the last quarter:
In North America
In Q2 2024, citric acid prices in North America remained steady, bolstered by stable supply chains and effective inventory management. External disruptions like the Panama Canal drought and the collapse of the Baltimore Bridge had minimal impact on pricing. Freight rate increases and container shortages, along with the implementation of alternative logistics, did influence costs, but the overall effect was limited. Seasonal demand fluctuations were also minor, and prices saw a moderate increase, with parity maintained between the first and second halves of the quarter. This stability reflects cautious optimism in the market amid ongoing challenges.
In Asia-Pacific
In Q2 2024, citric acid prices in the Asia-Pacific region rose sharply due to strong demand, limited supply, and increased raw material costs, especially corn. Geopolitical tensions and logistical challenges, such as the Panama Canal drought and the strengthening Chinese yuan, also contributed to price hikes. South Korea experienced the most significant price shifts due to seasonal factors, higher production costs, and China's market influence. However, by June, prices began to decline due to weakening demand and geopolitical tensions, leading to an oversupply and a drop in prices toward the end of the quarter.
In Europe
In Europe, citric acid prices stayed largely stable during Q2 2024, thanks to minimal disruptions and efficient inventory management. The food and beverage industry saw some seasonal demand fluctuations during the summer, but overall pricing remained steady. In Germany, a key market, prices saw only slight changes as supply and demand remained balanced. The stable environment was supported by lower freight costs, no major plant shutdowns, and well-aligned supply-demand dynamics across the region.
Overall, Price Trend and Regional Prices Analysis:
- Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand
- Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece
- North America: United States and Canada
- Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, Peru
- Middle East Africa: Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, Morocco
Note: The current country list is selective, detailed insights into additional countries can be obtained for clients upon request.
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IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
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