Prices of Tartaric Acid hikes in the global market

The prices of Tartaric Acid are soaring globally on account of solid downstream demand from several industries. The demand for Tartaric acid mainly comes from FMCG, pharmaceutical and cosmetic industries. As tartaric acid is widely used in wine industries, the increment in global consumption of wine is expected to enhance the Tartaric Acid prices. Since the international cosmetics and personal care industry is in its growth phase, and Tartaric Acid is a crucial constituent of several cosmetics and personal care products, these industries put forth a strong demand for it. In addition, the rising awareness about men’s grooming and personal care has augmented the demand for tartaric acid in cosmetic industries.

The demand for Tartaric Acid primarily comes from the Asia-Pacific region owing to the growing consumption of processed food and beverages. The FMCG industry is one of the significant industries creating a high demand for Tartaric Acid due to its usage as a preservative and emulsifier. Asia-Pacific has approximately 40% share of cosmetics globally and hence put forward strong demand for tartaric acid. The pharmaceutical sector of India also contributes readily to the strong demand for tartaric acid.

Furthermore, the suddenly imposed lockdown on several regions of China has also impacted the pricing trend of tartaric acid as China is the major exporter of tartaric acid worldwide. Additionally, the war tensions between Russia and Ukraine have affected the exports of Tartaric acid from several European countries. The conflict between Russia and Ukraine has upsurged the crude oil prices, which has enhanced the production cost of Tartaric Acid. Moreover, the fuelling shipment charges and shortage of cargoes have also influenced the global tartaric acid market.\According to ChemAnalyst, “The price of Tartaric Acid is expected to incline further in the upcoming months due to strong downstream demand and skyrocketing crude oil price.”