Adipic acid or hexanedioic acid(cas124-04-9) is a key raw material for the production of nylon, which is widely used in the automotive and textile industries. The global market for adipic acid is influenced by the supply and demand dynamics of these downstream sectors, as well as the fluctuations in the prices of feedstock benzene and crude oil. In this article, we will review the recent trends of adipic acid prices and sales in three major regions: Europe, America, and East Asia.
European Adipic Acid Price
According to ICIS, the average price of adipic acid settled around USD 3733/MT on a FOB Hamburg basis, with a quarterly decline of 4% during the end of the third quarter of 2023. The European market was affected by high-interest rates, inflation, and tight financial conditions, which impacted the demand for nylon products. The exports of adipic acid from Europe to Asia also decreased due to the weak performance of the Asian textile industry. The supply of adipic acid in Europe was largely stable, with no major outages or disruptions reported.
Hexanedioic acid prices in the United States
According to IndexBox, the adipic acid price stood at USD 2283/MT on a FOB US basis, increasing by 5.4% against the previous month in April 2023. The US market was also influenced by the poor performance of the downstream textile industry, which reduced the domestic demand for adipic acid. However, the exports of adipic acid from the US to Asia increased slightly due to the lower prices compared to Europe. The supply of adipic acid in the US was consistent, with no significant changes in production capacity or operating rates.
East Asian Adipic Acid(cas124-04-9) Price
According to ICIS, the average price of adipic acid settled around USD 2000/MT on a CFR China basis, with a quarterly decline of 6% during the end of the third quarter of 2023. The Asian market was affected by the low procurement activities from the downstream textile industry, which reduced the demand for adipic acid. The imports of adipic acid from Europe and America also decreased due to the high freight costs and logistics challenges. The supply of adipic acid in Asia was sufficient, with no major shortages or surpluses reported.
Table 1: Adipic Acid Prices and Sales in Q3 2023
| Region | Price (USD/MT) | Change (%) | Sales (MT) | Change (%) |
|---|---|---|---|---|
| Europe | 3733 | -4 | 250000 | -5 |
| America | 2283 | +5 | 150000 | +2 |
| East Asia | 2000 | -6 | 300000 | -7 |
Source: ICIS, IndexBox,
The global market for adipic acid witnessed a declining trend in the third quarter of 2023, due to the low demand from the downstream textile industry and the high costs of feedstock benzene and crude oil. The prices and sales of adipic acid(cas124-04-9) varied across different regions, depending on the local supply and demand conditions and the trade flows. The outlook for the fourth quarter of 2023 remains uncertain, as the market participants are waiting for more clarity on the economic recovery and the pandemic situation.
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