Positive Demand, driving Asian Pyridine Market Trend
- 11-May-2022 10:39 AM
- Journalist: Xiang Hong
Mumbai: - The pharmaceutical as well agriculture sector has been grappling with a sharp increase in raw material costs as a result of a consistent increase in upstream value amidst inflationary pressures that have pressed Asian market dynamics. According to ChemAnalyst data, the price of Pyridine has climbed in the Asia Pacific region during the first week of May 2022.
According to the ChemAnalyst source, the Asian market rose by roughly 1% in the starting week of May, particularly in India, due to elevated raw material costs, including Crude Coal Tar, combined with inflationary pressure produced by an abrupt rise in upstream crude value. According to current Insights, high crude oil prices have hampered global market dynamics, while some countries, such as India, are attempting to ease the problem by taking proactive economic measures.
Furthermore, high Pyridine prices have been sustained by optimistic demand from the end-user agriculture sector, particularly for the manufacturing of herbicides and pesticides due to seasonal demand amidst Zaid crops.
Similarly, in the Chinese market, the prices of Pyridine grew during the first week of May after the May Day festival. The rising raw material values, robust demand from the end-user pharmaceutical sector, and limited supply were the primary reasons for the surge in Pyridine Prices.
As per the latest insight, the China economy has been affected by covid-related disruptions. Manufacturing activity plunged to its lowest level since February 2020, while logistics bottlenecks have continued to strain. Furthermore, Suppliers are experiencing the longest delays in delivering raw materials to their manufacturing customers in more than two years, and Chinese port activity has fallen below levels seen during the first coronavirus outbreak in 2020.
As per ChemAnalyst. "The Chinese government is attempting to restart production, but with many foreign businesses still unable to resume operations amidst tightened lockdown, it's unclear how much of the city is actually back to work. Furthermore, Pyridine costs are expected to rise in the upcoming weeks as a result of a supply shortfall and limited product availability. Additionally, rising demand from the downstream pharmaceutical and agricultural sectors has weighed down Pyridine's high pricing. Meanwhile, crude oil prices are projected to rise in the coming weeks, putting pressure on crude coal tar prices"