For the Quarter Ending September 2025
North America
• In USA the Adipic Acid Price Index rose by 6.92% quarter-over-quarter, driven by stockpiling activity.
• The average Adipic Acid price for the quarter was approximately USD 1741.00/MT, reflecting muted buying.
• Adipic Acid Spot Price softened amid rising inventories, as sellers offered discounts to clear stocks.
• Adipic Acid Production Cost Trend eased as benzene softened, reducing producer margins and enabling discounting.
• Adipic Acid Demand Outlook remained subdued with automotive and textile buyers purchasing for immediate requirements.
• Adipic Acid Price Forecast suggests modest near-term softening, contingent on inventory drawdown and restocking activity.
• Asian imports and rising inventories pressured the Adipic Acid Price Index, capping domestic sellers' upside.
• Domestic plants operated at high rates, supporting supply availability despite tariff noise and port congestion.
Why did the price of Adipic Acid change in September 2025 in North America?
• Sustained domestic production and steady Asian imports increased inventories, exerting downward pressure on spot prices.
• Benzene cost declines reduced production expenses, enabling larger seller discounts and compressing producer margins further.
• Buyer caution amid tariff uncertainty and hurricane risk constrained procurement, limiting inventory drawdown and demand.
APAC
• In Japan, the Adipic Acid Price Index rose by 16.6% quarter-over-quarter, due to import cost, FX pressures.
• The average Adipic Acid price for the quarter was approximately USD 1494.00/MT on CFR Nagoya.
• Adipic Acid Spot Price volatility reflected yen depreciation and CFR offers from China and Korea.
• Adipic Acid Production Cost Trend rose as benzene and feedstock costs pressured Asian origin economics.
• Adipic Acid Demand Outlook remained mixed with nylon-66 consumption but cautious converter purchasing and drawdowns.
• Adipic Acid Price Forecast shows upside risk into Q4 driven by seasonal restocking and constrained availability.
• Adipic Acid Price Index was supported by import dependence and exporter offers amid regional competition.
• Inventory levels and export demand moderated markets, with domestic warehouses and buyers delaying forward procurement.
Why did the price of Adipic Acid change in September 2025 in APAC?
• Import cost pressures from yen weakness and origin offers lifted CFR expenses for Japanese buyers.
• Freight and logistics improvements eased landed costs, but storm-related origin delays intermittently tightened immediate supply.
• Downstream demand softened as weaker automotive and textile procurement limited price momentum amid origin costs.
Europe
• In Germany, the Adipic Acid Price Index rose by 2.32% quarter-over-quarter in Q3 2025, reflecting logistical delays.
• The average Adipic Acid price for the quarter was approximately USD 1350.00/MT, reported nationwide level.
• Adipic Acid Spot Price strengthened amid reduced spot availability and rail and port congestion affecting deliveries.
• Adipic Acid Price Forecast signals modest near-term gains driven by seasonal restocking and constrained Asian import flows.
• Adipic Acid Production Cost Trend mixed as cyclohexanone increased while benzene and gas costs remained flat.
• Adipic Acid Demand Outlook shows selective recovery in textiles and engineering plastics contrasted by weak automotive-related consumption.
• Adipic Acid Price Index movement reflects balanced domestic output, cautious buyer inventories, and targeted producer supply discipline.
• Adipic Acid Price Forecast upside tied to Hamburg bottlenecks, selective restocking, and constrained spot availability.
Why did the price of Adipic Acid change in September 2025 in Europe?
• Port and rail congestion delayed imports and inland distribution, tightening near-term supply, supporting price increases.
• Selective restocking by textiles and engineering plastics buyers increased demand slightly despite weak automotive procurement.
• Cyclohexanone feedstock rises elevated marginal production costs, transmitting upward pressure on adipic acid selling prices.
South America
• In Brazil, the Adipic Acid Price Index rose by 0.66% quarter-over-quarter, reflecting balanced supply and demand.
• The average Adipic Acid price for the quarter was approximately USD 2373.67/MT, observed weekly locally.
• Adipic Acid Spot Price remained rangebound amid steady domestic availability and limited regional export inquiries recently.
• Adipic Acid Production Cost Trend showed limited pressure as benzene and cyclohexanone costs stayed broadly flat.
• Adipic Acid Demand Outlook is subdued with automotive and textiles restraining spot purchasing and restocking activity.
• Adipic Acid Price Forecast indicates modest upside potential into September as seasonal industrial activity gradually improves.
• Inventory levels remained within standard bands, supporting Price Index stability and limiting volatility across spot markets.
• Producers maintained calibrated run rates, preserving market balance while moderating spot selling to defend contract margins.
Why did the price of Adipic Acid change in September 2025 in South America?
• Balanced domestic supply with imports covering demand kept immediate scarcity absent, reducing upward price pressure significantly.
• Stable benzene and cyclohexanone costs limited production cost increases, supporting muted Adipic Acid Production Cost Trend.
• Subdued automotive and textile demand, plus cautious buyer restocking, constrained takeoff and uplifted Price Index momentum.
For the Quarter Ending June 2025
North America
• Adipic Acid prices in North America increased by 2.4% QoQ in Q2 2025, supported by firm upstream costs and tightening supply availability despite soft downstream demand.
• Domestic production remained stable, but supply tightness emerged due to inventory drawdowns, lower imports from Asia amid tariff uncertainties, and cautious procurement strategies by manufacturers.
• Freight rates across trans-Pacific routes remained volatile, with customs bottlenecks and extended delivery lead times, further tightening supply pipelines despite stable intra-regional logistics.
• Downstream sectors, particularly automotive and Nylon 66, exhibited muted demand with buyers maintaining conservative inventory positions; occasional procurement spikes were short-lived, and sentiment driven.
• Overall, the Adipic Acid Price Forecast for Q2 reflected a firm trend, with limited demand recovery but persistent supply-side constraints maintaining upward pricing pressure.
Why did Adipic Acid prices increase in July 2025 in North America?
• The Adipic Acid Price Index in North America increased in July 2025, supported by rising feedstock costs, particularly benzene, which elevated production expenses for manufacturers.
• Supply constraints intensified due to prior inventory drawdowns and sluggish import recovery from Asia, restricting spot market availability and firming price sentiment.
• Demand from the nylon segment showed selective restocking, as manufacturers prepared for seasonal requirements, adding incremental pressure to an already tight supply base.
• The Adipic Acid Price Forecast for the near term pointed to continued firm prices, with supply-side tightness and cost-driven momentum outweighing weak downstream demand conditions.
Europe
• Adipic Acid prices in Europe increased by 5.4% QoQ in Q2 2025, driven by persistent supply constraints, elevated benzene costs, and ongoing logistical disruptions, despite weak downstream demand fundamentals.
• Domestic production in Europe remained steady, but selective operating rate reductions and prolonged port congestion at Rotterdam constrained material availability, limiting stock replenishment cycles for regional buyers.
• Imports from Asia and intra-Europe shipments stayed consistent; however, shipping inefficiencies, including barge delays, labour shortages at container terminals, and inland transportation bottlenecks, tightened overall supply pipelines.
• Downstream demand from automotive and engineered plastics sectors remained subdued, with buyers adopting cautious procurement strategies, refraining from bulk purchases amid economic headwinds and sufficient inventory coverage.
• Overall, the Adipic Acid Price Forecast for Q2 reflected a firm trend, where constrained supply dynamics outweighed demand softness, maintaining upward pricing pressure into early July despite a fragile demand outlook.
Why did the Adipic Acid Price Index change in July 2025 in Europe?
• The Adipic Acid Price Index in Europe increased in July 2025, supported by supply tightening as European producers reduced output to align with weak demand, while imports from Asia faced extended lead times.
• Demand from the polyamide sector saw selective restocking, as buyers anticipated further logistical delays ahead of the summer holiday period, prompting precautionary purchases.
• The Adipic Acid Price Forecast for the near term pointed to firm-to-stable prices, with supply discipline and cost-push factors balancing subdued demand, preventing significant price softening.
APAC
• Adipic Acid prices in APAC declined by 9.6% QoQ in Q2 2025, driven by oversupply pressures, subdued downstream demand, and competitive export offers from China and South Korea.
• Regional supply remained abundant as Asian producers increased export volumes to clear domestic surpluses, while intra-Asian freight rate reductions further lowered landed costs across key markets like Thailand.
• Logistics operations remained smooth with minor port congestion and shipment delays, but these inefficiencies were insufficient to disrupt material availability or provide any upward price support.
• Demand from automotive and textile sectors remained weak, as downstream buyers adopted conservative procurement strategies amid sluggish vehicle production, seasonal slowdowns, and fragile consumer sentiment.
• Overall, the Adipic Acid Price Forecast for Q2 reflected a bearish trend, with persistent supply-side competition and lacklustre demand keeping prices under pressure, barring any significant changes in upstream feedstock dynamics or policy interventions.
Why did the Adipic Acid Price Index change in July 2025 in APAC?
• Adipic Acid prices in APAC declined in July due to persistent weak demand and oversupplied market conditions.
• Broader Asian exporters continued pushing excess cargoes into Thailand, maintaining high inventory levels.
• Falling regional freight rates further reduced import costs, driving sellers to offer lower prices to stay competitive.
• Demand from automotive and textile sectors remained lacklustre as buyers focused on depleting existing stock.
• Procurement stayed cautious with no major downstream recovery, keeping overall trade activity subdued.
South America
• Adipic Acid prices in South America declined by 4.2% QoQ in Q2 2025, driven by subdued demand from automotive and plastics sectors, balanced domestic production, and stagnant export activity.
• Supply conditions remained stable as local producers aligned output with weak downstream orders, preventing inventory accumulation.
• Upstream feedstock prices for benzene and cyclohexanone remained flat, providing no cost support for any price increase.
• Logistics operations saw minimal disruptions, with smooth material flow and no significant transport bottlenecks during the quarter.
• Demand from key sectors like automotive and engineering plastics stayed muted, with OEMs and processors focusing on depleting existing inventories rather than initiating fresh purchases.
• Overall, the Adipic Acid price outlook for Q2 in Brazil remained soft, with stable supply and tepid demand maintaining a narrow price corridor, absent of external shocks or recovery signals.
Why did the Adipic Acid Price Index change in July 2025 in South America ?
• Adipic Acid prices in Brazil held steady in July as supply discipline met subdued downstream demand.
• Domestic producers maintained moderate operating rates, ensuring inventories remained balanced.
• Feedstock costs stayed flat, offering no cost-driven support for price changes.
• Automotive and plastic sectors limited procurement to immediate needs, refraining from speculative restocking.
• In the absence of fresh demand triggers or supply disruptions, pricing remained range-bound through July.
For the Quarter Ending March 2025
North America
The North American adipic acid market recorded a 5.53% quarter-on-quarter price increase in Q1 2025 compared to Q4 2025, supported by improving demand across key downstream industries. Early in the quarter, stable feedstock costs for cyclohexanone and benzene kept production expenses steady, while a six-year labour agreement between ILA and USMX averted port strike threats, maintaining smooth logistics and supply chain operations. Rising adipic acid prices in Asian markets further influenced upward pricing momentum in the U.S.
Midway through the quarter, market activity normalized as Winter Storm Enzo passed. However, policy-driven uncertainty escalated after President Trump imposed 25% tariffs on Mexican and Canadian imports, prompting retaliatory actions and disrupting cross-border trade. Additionally, a late-quarter rise in cyclohexanone prices added to production costs despite steady benzene values.
By the end of Q1, the market remained balanced, with sufficient supply and cautious buying behaviour. While automotive sector recovery hopes persisted, actual procurement remained muted. Market participants adopted a watchful stance amid lingering trade tensions and cost volatility. The quarter closed with Adipic Acid (DEL Houston) priced at USD 1602 /MT in the U.S.
APAC
The Asia-Pacific adipic acid market recorded a 2.93% quarter-on-quarter price decline in Q1 2025. Early in the quarter, falling benzene and cyclohexanone feedstock costs reduced production expenses for manufacturers but failed to stimulate market activity. Limited pre-Chinese New Year procurement and soft export orders kept demand muted, particularly from automotive and nylon 66 sectors. Mid-quarter, prices saw a brief uptick as feedstock costs rebounded, and manufacturers resumed operations post-Spring Festival. However, this recovery was short-lived, as purchasing activity was mainly focused on restocking existing inventories. The automotive sector, although active, emphasized replenishment over new orders amid a slower post-holiday recovery. By quarter-end, the market reverted to a downward trend due to weak demand and oversupply. Falling raw material prices and concerns over the European Commission’s anti-dumping probe into Chinese imports heightened concerns over reduced export opportunities, exacerbating domestic oversupply. With buyers adopting a wait-and-see approach, adipic acid FOB Qingdao prices closed at USD 993/MT in China, reflecting persistent market softness throughout the quarter.
Europe
The European adipic acid market experienced a significant 8.56% quarterly price decline in Q1 2025, marking a challenging start to the year. Early in the quarter, falling adipic acid prices set a negative tone, despite upward pressure from crude oil and benzene markets. Severe port congestion at Hamburg and other key terminals disrupted supply chains, while weak automotive sector demand - characterized by cautious production strategies and poor consumer confidence - prevented any price recovery. Midway through the quarter, prices saw a modest rise, supported by tightened supply caused by operational issues at production sites and shipping delays. Feedstock costs stayed relatively low, but limited product availability and slight demand stabilization helped curb further declines. Automotive sector intake remained low, evidenced by a drop in new vehicle registrations. The quarter closed with prices stabilizing at USD 1,325/MT. The European Commission's anti-dumping investigation into Chinese imports prompted some pre-emptive buying, while domestic producers adopted firmer pricing in anticipation of tighter supply conditions. Market participants remained cautious, balancing concerns over potential tariffs against fragile demand fundamentals.
South America
The South American adipic acid market remained stable in Q1 2025, recording just a 0.1% quarterly price decline. Early in the quarter, prices remained steady due to balanced supply and demand, with consistent domestic production levels and stable feedstock costs. Supply chains operated smoothly, and inventories were sufficient to meet demand, especially from the automotive sector, which showed steady, albeit limited, consumption. Mid-quarter, prices edged slightly higher due to a temporary rise in feedstock costs and moderate downstream buying. Producers responded with cautious inventory management, scaling back on excess stockpiling after soft sales in January. Despite year-on-year growth in vehicle sales, weaker monthly auto performance and limited foreign demand constrained momentum. Toward the end of the quarter, adipic acid prices softened again as benzene prices fell and import volumes from Asia increased, putting downward pressure on domestic offers. With inventories replenished and procurement slowing, trading activity weakened. The quarter concluded with adipic acid priced at USD 2410 /MT FOB Sao Paulo, marking a subdued close to Q1.
For the Quarter Ending December 2024
North America
The North American Adipic Acid market demonstrated quarter-on-quarter stability in Q4 2024, with prices showing slight improvements as the quarter progressed. Early in the quarter, demand from downstream industries such as automotive and textiles remained weak. The U.S. vehicle market faced stagnation, with reduced production volumes curbing the need for Adipic Acid, a key raw material in nylon-based automotive components. Logistical disruptions from hurricanes and supply chain bottlenecks further extended delivery times, limiting procurement activity.
Mid-quarter, a seasonal boost in consumer sentiment, driven by holiday promotions and discounts, provided moderate support. However, inflationary pressures and anticipation of potential tariff increases under the new Trump administration introduced some uncertainty.
The quarter's end saw continued price improvement, with Adipic Acid DEL Houston closing at USD 1530/MT. Holiday-driven textile demand slightly offset weak automotive activity, while ongoing logistical hurdles, such as elevated transpacific freight rates, created lingering cost pressures. This reflecting the overall unchanged quarter-on-quarter performance, though exhibiting upward momentum towards the end of Q4 2024.Market participants remain cautious as the possibility of tariff-induced supply chain disruptions looms over the coming year.
APAC
The Adipic Acid market in the APAC region saw a 5% decline in Q4 2024 compared to Q3, primarily driven by weak demand from downstream sectors such as automotive and textiles. A global shift away from synthetic fibres, spurred by environmental concerns, coupled with a slump in benzene prices, a crucial feedstock for Adipic acid, further pressured prices downward. Mid-quarter, while feedstock costs, particularly for benzene, experienced slight increases, they had minimal impact on Adipic acid prices, as the overall demand remained weak. The market also faced logistical challenges due to Typhoon Kong-rey, which caused severe delays at key ports in China and Taiwan, exacerbating supply chain disruptions and extending lead times. Despite efforts to clear these backlogs, the easing of supply chain issues in the latter part of the quarter did not significantly improve market conditions. Export orders continued to soften amid global economic uncertainty, and the market remained subdued. By quarter-end, the price for Adipic Acid FOB Qingdao stood at USD 1050/MT, reflecting an ongoing oversupply and lack of robust demand, signalling a cautious outlook for the near term.
Europe
The European Adipic Acid market experienced a sharp 24% decline in Q4 2024 compared to Q3, reflecting a challenging economic environment, and subdued downstream demand. Weakness in the automotive sector, a key end-use market, remained a significant driver of the downturn. German automakers faced declining production levels, increased competition from Chinese electric vehicles, and a drop in consumer interest. Simultaneously, the textile sector struggled with oversupply and reduced orders, as sustainability trends and cost-conscious spending reshaped consumer behaviour. Lower feedstock costs, particularly for benzene, further pressured Adipic Acid prices, while logistical challenges such as port congestion in Hamburg caused disruptions, although global container demand eased these pressures. Seasonal destocking during the year-end and cautious inventory management by buyers added to the bearish sentiment. By the end of Q4, the Adipic Acid FD Hamburg price stood at USD 1325/MT, marking a consistent downward trend throughout the quarter. Buyers capitalized on discounted offers to build inventory, but near-term recovery is unlikely amid economic uncertainties, rising operational costs, and stricter regulatory measures, such as the EU’s expanded Emissions Trading System set for early 2025.
South America
The South American Adipic Acid market experienced a modest 1% decline in Q4 2024 compared to Q3, reflecting subdued demand and logistical challenges early in the quarter. In Brazil, the market began with weakened activity in key downstream sectors, such as automotive and textiles. Severe weather disruptions caused by Hurricane Helene and the ongoing ILA port worker strike at U.S. East Coast and Gulf ports significantly impacted logistics, delaying imports of U.S.-sourced Adipic Acid, and increasing supply chain uncertainty. By mid-quarter, Adipic Acid prices further declined, influenced by declining export demand, particularly from Europe, where automotive and textile markets remained weak. Stable feedstock benzene prices and reduced freight costs applied additional downward pressure on pricing. However, minor logistical improvements and gradual recovery in the Brazilian automotive sector provided some support to the market. However, toward the end of the quarter, prices showed a slight recovery driven by festive season demand in the textile industry and year-on-year growth in the automotive sector. The quarter-ending price for Adipic Acid in Brazil stood at USD 2467/MT.
