For the Quarter Ending June 2025
Europe
• The Acetic Anhydride Price Index in Belgium held at USD 960/MT FD Antwerp through June 2025, supported by steady feedstock economics (methanol at EUR 625/MT, acetic acid at USD 590/MT) despite rising bankruptcies in construction and industrial manufacturing.
• The Acetic Anhydride Spot Price remained largely unchanged as pharmaceutical demand—Belgium’s primary consumer—continued steady contract-driven offtake, offsetting weakness in agrochemical and industrial derivative sectors.
• Why did the price change in July 2025? Prices are projected to increase moderately, driven by looming U.S.–EU tariff risks on pharmaceutical precursors, persistent cost stability in methanol and acetic acid, and producers tightening output to avoid excess inventories.
• The Acetic Anhydride Production Cost Trend stayed firm, aided by stable feedstock and efficient logistics via Antwerp, with U.S. imports maintaining competitive landed costs despite policy uncertainty.
• The Acetic Anhydride Demand Outlook remains pharma-driven but cautious, as UCB and Argenx sustain API synthesis while construction and industrial chemicals remain subdued due to high insolvency rates and delayed projects.
• Export flows from the U.S. remain Belgium’s backbone, but July’s tariff talks may influence forward contracts as traders hedge against potential duty exposure.
Asia-Pacific
• The Acetic Anhydride Price Index in China averaged USD 570/MT FOB Qingdao during June 2025, down from USD 619/MT in May, as soft overseas demand, falling acetic acid (USD 329/MT FOB), and lean downstream buying pressured sentiment.
• The Acetic Anhydride Spot Price reflected steady operating rates and modest restocking by pharmaceutical, agrochemical, and dye sectors, with buyers avoiding forward bookings amid volatile export inquiries from India, South Korea, and Southeast Asia.
• Why did the price change in July 2025? Prices are projected to remain flat-to-soft, as port congestion at Qingdao (37 vessels waiting), subdued foreign demand, and lower acetic acid values counterbalance steady run rates and controlled inventories.
• The Acetic Anhydride Production Cost Trend softened, as methanol prices dropped 2.49% MoM and acetic acid costs continued to ease, prompting several plants in Jiangsu and Shandong to curb run rates to avoid surplus stocks.
• The Acetic Anhydride Demand Outlook is measured, with pharmaceutical intermediates providing a floor, but agrochemicals, dyes, and FMCG-linked packaging failing to deliver any seasonal boost.
• Export offers remain near USD 570–580/MT FOB, but India and South Korea continue to defer bulk tenders, preferring renegotiations or minimal spot purchases.
Middle East & Africa
• The Acetic Anhydride Price Index in Saudi Arabia held near USD 445–450/MT FOB Al Jubail in June 2025, anchored by flat methanol feedstock prices (~USD 300/MT) and stable domestic demand despite muted exports to India and Southeast Asia.
• The Acetic Anhydride Spot Price showed minimal fluctuation as local industrial and pharmaceutical users maintained baseline procurement, with most exporters preferring to serve inland demand linked to Vision 2030 infrastructure projects rather than chase soft overseas markets.
• Why did the price change in July 2025? Prices are expected to stay largely stable, with inland consumption and steady feedstock costs balancing weaker external demand, though any Indian post-monsoon recovery could lift exports and tighten availability by late Q3.
• The Acetic Anhydride Production Cost Trend remained steady, aided by low-cost energy inputs and consistent methanol availability, while logistics via eastern ports faced no congestion, allowing producers to keep FOB offers competitive.
• The Acetic Anhydride Demand Outlook is neutral, as Vision 2030-linked construction and adhesives maintain baseline pull, but pharma and agrochemical exports stay tepid, keeping the market balanced.
• Export sentiment remains cautious, with traders focusing on South Asia for Q3 contracts, contingent on Indian buyers resuming bulk bookings after the monsoon.
For the Quarter Ending March 2025
North America
During Q1 2025, acetic anhydride prices in the USA declined steadily from January through March, reflecting a clear quarter-on-quarter and year-on-year weakening trend. This downtrend was primarily driven by sluggish demand from the pharmaceutical sector, which remained conservative in procurement amid elevated inventories and restrained production cycles.
Although upstream feedstocks such as methanol and acetic acid maintained stable price levels, helping contain production costs, subdued downstream offtake continued to weigh on overall market sentiment. Operationally, producers adjusted plant run rates slightly downward to align with market absorption capacity and avoid excessive inventory buildup. Logistical challenges—ranging from trade flow delays to shifting global supply patterns—further affected delivery timelines and stock management.
While a modest improvement in restocking activity was observed in late March, it failed to significantly lift market momentum. Overall, Q1 2025 was marked by cost-side stability and weak pharmaceutical demand, with recovery prospects dependent on increased formulation activity, export orders, and broader improvements in global pharma sector consumption in the coming months.
APAC
Acetic anhydride prices in China averaged USD 622/MT FOB Qingdao in Q1 2025, showing a 0.7% increase from Q4 2024’s average, but a sharp 21.7% decline year-on-year from Q1 2024’s average. While prices gradually increased from January to March, the market remained under long-term bearish pressure. Upstream cost support was limited, with softening acetic acid prices and stable methanol values keeping production expenses moderate. Producers operated at regular rates, and refinery throughput rose slightly YoY, ensuring consistent supply. However, inventory accumulation in some regions and low-cost imports from India and South Korea added to regional competition. Demand from pharmaceuticals, agrochemicals, and dyes stayed modest throughout the quarter, with most buyers adopting a cautious procurement approach due to weak downstream momentum. Despite temporary price adjustments, the overall market sentiment remained neutral amid flat trading volumes. In summary, Q1 2025 saw slight gains from Q4 lows driven by stable operations and inventory control, but lingering oversupply and subdued demand kept prices well below 2024 levels. Further recovery hinges on a tangible post-holiday demand rebound.
Europe
During Q1 2025, acetic anhydride prices in the UK declined progressively from January to March, averaging USD 1089/MT. This represented a 4.8% decline from Q4 2024’s average and a 0.7% decrease year-on-year compared to Q1 2024’s average. The downward trend was driven by persistently weak demand from the cellulose ester segment, following a sharp contraction in cigarette production. Pharmaceutical demand remained steady but failed to offset the broader slowdown, with no major procurement momentum from food or agrochemical sectors. Stable feedstock acetic acid and ketene costs kept production expenses contained, while steady domestic production and uninterrupted Asian imports ensured ample supply. Declining freight rates from North America further improved import competitiveness. Manufacturers maintained normalized run rates, and although UK construction activity showed early signs of recovery, demand for acetylation-linked coatings remained limited. Overall, Q1 2025 was defined by oversupply and soft industrial demand, with a cautious outlook hinging on potential stabilization in cellulose derivatives and renewed pharma sector growth.
For the Quarter Ending December 2024
North America
In Q4 2024, Acetic Anhydride prices in the USA remained stable, supported by adequate supply but weighed down by weak downstream demand in sectors like pharma sector, and construction-related applications.
Despite anticipated increases in methanol feedstock costs, sluggish downstream trading activity and constrained purchasing power limited significant price growth. Production operated at stable to slightly reduced rates, aligning with subdued demand, while broader manufacturing challenges, including declining economic indicators, weaker exports, and rising input costs, further strained the market. The construction sector showed mixed signals, with overall activity remaining slow but planning activity reflecting year-over-year growth and growing optimism for 2025 due to stabilizing financing conditions.
While upstream cost pressures were moderate, downstream weakness kept the market in a rangebound state, with cautious optimism for recovery in the coming year. Looking ahead, cautious optimism in construction planning and expectations of improved financing conditions may support moderate demand recovery in 2025. However, potential volatility in trade policies and continued geopolitical tensions remain risks to market stability.
Asia
In Q4 2024, the Acetic Anhydride market in China exhibited mixed trends, with periods of stability and slight price increases driven by supply constraints and modest improvements in trading sentiment. Prices stabilized in December, holding at USD 670-620 per MT FOB Qingdao, supported by adequate supply levels and stable downstream demand. Earlier in November, prices saw a modest rebound as production halts in Shandong reduced capacity and improved market balance. However, downstream demand, particularly from the pharmaceutical sector, remained weak, limiting significant price increases. The Chinese pharmaceutical industry faced challenges, with weak domestic demand, centralized drug procurement pressures, and declining performance in key metrics such as operating income and profit. Despite these challenges, sub-sectors like innovative drugs and medical consumables showed positive growth. Government policy support for innovative healthcare is expected to provide opportunities for recovery in 2025. On the manufacturing side, Acetic Anhydride plants operated at stable rates, with improved supply conditions bolstered by government stimulus. While foreign sales declined, domestic orders showed signs of stabilization. Upstream methanol prices fluctuated but remained under pressure due to weak demand and high shipping costs. Looking ahead, supply constraints may create upward price pressure, but weak downstream demand could cap significant price increases.
Europe
Acetic Anhydride prices in Belgium showed mixed trends in Q4 2024, rising in November due to stronger downstream demand, particularly from the pharmaceutical sector, before declining in October and December amid lower feedstock Acetic Anhydride prices and market oversupply. November's price increase was driven by seasonal demand for respiratory treatments and Belgium's robust pharmaceutical sector, which remained a critical consumer of Acetic Anhydride for oncology and chronic disease therapies. However, weaker market sentiment and oversupply pressured prices downward in the surrounding months.
Belgium's pharmaceutical sector demonstrated resilience, bolstered by its leadership in biopharmaceutical innovation, ranking highly in clinical studies and R&D investment, with €15.5 million invested daily. Despite economic challenges, the sector sustained steady demand for Acetic Anhydride, offsetting broader weakness in manufacturing activity. The Eurozone manufacturing sector faced contraction throughout Q4, with declining production and new orders, though November brought a slight improvement in business confidence.
Upstream, methanol prices are expected to rise in early 2025 due to Methanex's pricing adjustments, potentially increasing Acetic Anhydride production costs. Looking ahead, EU regulatory initiatives and Belgium’s strong pharmaceutical base are expected to drive demand and support market recovery in 2025, despite persistent economic headwinds.
For the Quarter Ending September 2024
North America
In the third quarter of 2024, the Acetic Anhydride pricing landscape in North America exhibited a mixed trend, with a notable upward trajectory in the first half of the quarter while prices remained subdued in the second half.
This fluctuation was driven by several key factors, including increased demand from various industries, particularly pharmaceuticals and manufacturing, alongside supply constraints and rising production costs. Consequently, prices surged compared to the same quarter last year. Within the USA, which experienced the most significant price fluctuations, there was an increase from the previous quarter, with prices rising between the first and second halves of the third quarter. This trend indicates a consistent upward trajectory in Acetic Anhydride prices, reflecting a positive pricing environment.
Furthermore, various pharmaceutical companies in the US, such as Johnson & Johnson, reported record revenue growth in third quarter 2024. The quarter's performance highlights a robust demand-supply balance, cost dynamics, and sector-specific requirements, all contributing to the overall price escalation.
APAC
The third quarter of 2024 for Acetic Anhydride in the APAC region has been characterized by a significant decline in prices. However, in July, prices showed an upward trend, primarily driven by increased production costs due to higher Acetic Acid prices. Following this, prices fell, influenced by several key factors. Market dynamics revealed a notable decrease in demand from downstream industries, particularly the pharmaceutical sector, which led to oversupply and subsequent price reductions. Additionally, lower import prices from major exporting nations further contributed to the downward trend. China experienced the most substantial price changes, with overall trends in the region indicating a negative correlation with prices, marked by a notable -28% decrease compared to the same quarter last year. When compared to the previous quarter in 2024, prices recorded a -7% decline, reflecting ongoing market challenges. Notably, there was a -2% price difference between the first and second halves of the quarter, indicating a continued downward trajectory. The quarter-ending price in China stood at USD 671/MT of Acetic Anhydride FOB Qingdao, highlighting the prevailing negative sentiment in the pricing environment.
Europe
In Q3 2024, the Acetic Anhydride market in Europe experienced an increase in the first month of Q3 (July) due to higher feedstock Acetic Acid prices due to Halt in Celanese production of Acetic Acid and later notable decrease in prices was observed as the Feedstock Acetic Acid prices lowered throughout Q3, influenced by several key factors. The market saw a -10% change in pricing compared to the same quarter last year, reflecting a significant downward trend. Factors contributing to this decline include stable upstream methanol prices and reduced market demand due to a skilled labor shortage in the pharmaceutical sector. Additionally, the ongoing crisis in the Red Sea disrupted global supply chains, impacting Asian markets and leading to increased delivery costs and delays. Belgium, in particular, witnessed the most significant price changes in the region, with a recorded 2% decrease from the previous quarter in 2024. The quarter also saw a -3% price difference between the first and second halves, indicating a gradual decline. Ultimately, the quarter-ending price for Acetic Anhydride in Belgium stood at USD 1100/MT FD Antwerp, underscoring the prevailing negative pricing environment in the region.
FAQs
1. What is the current Acetic Anhydride Spot Price?
As of June 2025, spot prices range from USD 445–450/MT FOB Al Jubail (Saudi Arabia) to USD 960/MT FD Antwerp (Belgium), with China trading near USD 570/MT FOB Qingdao.
2. Who are the top Acetic Anhydride producers globally?
Verified producers include Celanese (China), Jiangsu Sopo (China), SABIC (Saudi Arabia), BASF Antwerp, and Eastman Chemical Belgium, supplying both domestic industries and export markets.
3. What drives the Acetic Anhydride Production Cost Trend globally?
Key factors include methanol and acetic acid pricing, energy tariffs (Saudi Arabia’s low-cost advantage vs. Europe’s higher energy rates), and freight stability for transatlantic imports into Europe.
4. What is the Acetic Anhydride Price Forecast for Q3 2025?
Prices are projected to stay rangebound to slightly higher in Belgium (tariff risk and stable costs), soft-to-flat in China (weak export pull and falling feedstocks), and stable in Saudi Arabia (steady inland demand and cost support), with Indian demand post-monsoon likely to set Q3 direction.
