For the Quarter Ending September 2025
North America
• In the United States, the Distilled Glycerin Monostearate (DMG) Price Index rose in Q3 2025, influenced by rising production costs.
• DMG production costs trended upward in Q3 2025 due to increased stearic acid and glycerin feedstock prices.
• Demand for DMG remained firm in Q3 2025 from food processing, pharmaceutical, and cosmetic industries.
• Industrial production grew slowly at 0.1% year-over-year in September 2025, impacting industrial DMG demand.
• Retail sales increased 5.42% year-over-year in September 2025, supporting consumer-facing DMG applications.
• Rising operational costs for DMG producers were driven by a 3.0% year-over-year CPI and 2.6% PPI increase.
• A healthy 4.3% unemployment rate in September 2025 supported consumer spending, despite declining consumer confidence to 94.2.
• Stearic acid supply tightened in Q3 2025 due to import delays and shipping disruptions from Southeast Asia.
Why did the price of Distilled Glycerin Monostearate (DMG) change in September 2025 in North America?
• Stearic acid feedstock costs, including palm oil, increased in Q3 2025, raising DMG production expenses.
• The 2.6% year-over-year PPI increase in August 2025 signaled higher input costs for DMG.
• Firm demand from food, pharmaceutical, and cosmetic sectors supported DMG prices in Q3 2025.
APAC
• In China, the Distilled Glycerin Monostearate (DMG) Price Index rose quarter-over-quarter in Q3 2025, driven by surging feedstock costs.
• DMG production costs increased in Q3 2025 due to surging glycerin, stearic acid, and palm oil feedstock prices.
• Refined glycerin and stearic acid supply tightened in Q3 2025, constraining DMG output and elevating expenses.
• Demand for DMG was supported by China's expanding food emulsifiers market in Q3 2025.
• Industrial Production increased by 6.5% year-over-year in September 2025, bolstering demand for DMG.
• Retail Sales grew by 3.0% year-over-year in September 2025, indicating consumer spending supported DMG applications.
• The Manufacturing Index was contracting in September 2025, suggesting underlying weakness in industrial demand.
• Consumer Price Index (CPI) fell by 0.3% and Producer Price Index (PPI) declined by 2.3% year-over-year in September 2025.
• The unemployment rate was 5.2% and consumer confidence stood at 89.6 in September 2025, indicating cautious consumer sentiment.
Why did the price of Distilled Glycerin Monostearate (DMG) change in September 2025 in APAC?
• Surging glycerin, stearic acid, and palm oil feedstock costs elevated DMG production expenses in Q3 2025.
• Tightening refined glycerin and stearic acid supply constrained DMG output in Q3 2025.
• Expanding food emulsifiers market demand also contributed to upward price pressure in Q3 2025.
Europe
• In Germany, the Distilled Glycerin Monostearate (DMG) Price Index faced downward pressure quarter-over-quarter in Q3 2025, driven by contracting industrial activity.
• DMG production costs were influenced by ongoing high European oleochemical feedstock costs and volatile vegetable oil prices in Q3 2025.
• Despite a 1.7% year-over-year decline in PPI in September 2025, high energy costs continued to burden European chemical companies.
• Rising CPI at 2.4% in September 2025 also contributed to increased operational and raw material expenses for DMG manufacturers.
• The Manufacturing Index showed a contracting trend in Q3 2025, indicating a bearish demand outlook for industrial inputs like DMG.
• Industrial production declined by 1.0% year-over-year in September 2025, reducing overall consumption of raw materials including DMG.
• Retail sales saw a modest 0.2% year-over-year increase in September 2025, offering slight support for consumer-facing DMG applications.
• Germany's unemployment rate remained stable at 6.3% in September 2025, supporting consumer purchasing power for end products.
Why did the price of Distilled Glycerin Monostearate (DMG) change in September 2025 in Europe?
• Weak German industrial activity and contracting Manufacturing Index reduced overall demand for DMG in Q3 2025.
• High oleochemical feedstock costs, volatile vegetable oil prices, and rising CPI pressured DMG production expenses in Q3 2025.
• Declining German chemical production and international sales tightened regional supply in Q3 2025.
