For the Quarter Ending March 2025
North America
In Q1 2025, the North American Fumaric Acid market experienced moderate fluctuations driven by inventory adjustments, trade uncertainties, and evolving demand patterns. The quarter began with a slight price increase of 0.41%, settling at $1225/MT CFR New York by the end of the first week of January. This followed a period of market stabilization, with producers regaining pricing leverage amid tighter domestic inventories and cautious buying ahead of proposed tariff changes under the incoming U.S. administration.
In February, prices edged higher to $1235/MT, supported by sustained demand from the food, pharmaceutical, and chemical sectors. The resumption of Chinese operations post-Lunar New Year, combined with rising freight rates and the enforcement of new U.S. tariffs—10% on Chinese goods and 25% on Canadian and Mexican imports—added further cost pressure. Despite steady procurement activity and healthy end-user demand, rising logistics costs and protectionist trade policies introduced volatility across the supply chain.
By early March, however, prices softened by 0.80%. Weakening demand, elevated inventories from front-loaded Q1 shipments, and a notable decline in transpacific freight rates led to a more competitive import environment. Buyers adopted a cautious stance, delaying fresh purchases amid economic uncertainty and policy speculation. This shift in sentiment, coupled with stable upstream costs and increased supply availability, placed downward pressure on prices as the quarter closed.
Asia Pacific
The Asian Fumaric Acid market exhibited mixed pricing dynamics across Q1 2025, beginning with a positive trend before encountering headwinds in March. In the first week of January, prices rose by 0.49% to $1035/MT FOB-Shanghai. The market benefitted from renewed manufacturing activity in China following the year-end holidays, with strong demand from domestic and international buyers. Producers maintained balanced output in response to heightened purchase inquiries, while inventory accumulation by buyers contributed to steady upward pricing momentum.
In early February, prices saw a further increase of 0.48%, reaching $1045/MT FOB-Shanghai. This uptick was driven by a gradual return to operations after the Lunar New Year, which coincided with higher production costs due to labor realignment and domestic logistical challenges. Demand from export markets, particularly in the food and pharmaceutical segments, remained firm. Rising Maleic Anhydride prices also contributed to input cost inflation, supporting overall price strength despite a slight dip in manufacturing PMI to 49.1.
However, by the first week of March, prices declined by 0.47%. Weak demand from pharmaceuticals, personal care, and industrial sectors weighed heavily on the market. Suppliers attempted to reduce excess inventory through aggressive destocking, but persistent oversupply and subdued buying interest led to price corrections. A global economic slowdown and cautious international procurement further pressured the market, marking a bearish shift to close the quarter.
Europe
The European Fumaric Acid market witnessed significant pricing movements throughout Q1 2025, shaped by shifting supply fundamentals, rising import costs, and evolving buyer behavior. In the first week of January, prices rose by 0.43% to $1180/MT CFR Hamburg. This early increase reflected the tightening of logistics between Asia and Europe, with elevated shipping rates and frequent blank sailings contributing to persistent delays. German buyers were compelled to accept higher costs from Chinese suppliers, marking a structural shift in traditional sourcing dynamics. Limited availability and strong offtake from the pharmaceutical and nutraceutical sectors further strengthened prices in early January.
By early February, prices had increased again, up 0.41% to $1210/MT CFR Hamburg. The price momentum was supported by sustained demand, especially in the food and pharmaceutical industries, alongside elevated procurement costs due to ongoing freight rate pressures. The gradual post-holiday recovery of Chinese supply chains also added to upstream price firmness. With steady consumption and tight supply, the market showed resilience, even as broader European manufacturing activity remained underwhelming.
However, by the first week of March, prices fell by 2.04%. The decline was driven by stabilized domestic production, better import availability, and easing logistics costs, including a nearly 50% drop in freight rates from January levels. The stronger euro further reduced import costs. Demand cooled as buyers relied on prior stockpiles and exercised caution due to political and economic uncertainty. As a result, sellers competed more aggressively, and market sentiment softened to close the quarter.
For the Quarter Ending December 2024
North America
The Fumaric Acid market in Q4 2024 exhibited notable volatility, driven by fluctuating supply-demand dynamics. Early in the quarter, prices surged due to increased demand from the pharmaceutical and nutraceutical sectors, limited supply, and disruptions from China’s Golden Week. However, as the quarter progressed, inventory levels increased, while demand from downstream industries softened, leading to price declines.
Market sentiment was also impacted by global supply chain challenges, including higher import costs due to a weakened US dollar, and rising freight rates. Toward the end of November, strong demand ahead of the festive season and supply constraints from China pushed prices upward again, creating a sellers' market.
In December, U.S. prices declined due to inventory adjustments by local suppliers and competitive pricing from Chinese imports, while stable downstream consumption supported steady demand. Despite increased U.S. imports and strategic pricing from suppliers, port congestion and ongoing tariff uncertainty added to market instability. By the end of December, prices dipped, reflecting a 2.01% decline as suppliers cleared excess stock, highlighting a shift in the market driven by pricing dynamics over demand fundamentals.
Asia Pacific
The Fumaric acid market in Q4 2024 experienced fluctuating prices influenced by supply-demand dynamics, economic conditions, and seasonal adjustments. Early October saw stability with prices maintaining levels from the previous period, aided by steady demand and temporary suspension of activities in China. However, as the quarter progressed, oversupply and weak consumer sentiment put downward pressure on prices.
Despite some price increases in mid-October, driven by strong export activity and raw material price adjustments, the market remained sensitive to supply chain challenges. By late October, prices dropped due to higher inventories and reduced purchasing power. In November, Fumaric acid prices initially rose, fueled by demand in export markets, especially India’s food preservative sector during the festival season. This uptick was short-lived, and by early December, prices fell again as supply-side pressures intensified, with excess inventory and weak demand dampening market sentiment.
Despite some recovery toward the end of December, driven by tight supply conditions and stronger demand, the overall trend in Q4 was marked by volatility, with prices fluctuating due to ongoing oversupply and seasonal influences.
Europe
The fourth quarter of 2024 in the German Fumaric Acid market has been characterized by fluctuating prices, primarily influenced by strong demand and persistent supply chain disruptions. Prices rose sharply early in the quarter due to increased procurement driven by anticipation of China’s Golden Week, logistics delays, and supply shortages.
These conditions were further exacerbated by rising import costs, currency fluctuations, and limited shipping availability. By mid-November, prices began to decline slightly as demand softened, and production costs decreased, aligning with a broader global market downturn. However, the market remained sensitive to disruptions, including fluctuating import costs and global economic trends, keeping the market tight.
Toward the end of December, prices stabilized with slight increases, driven by continued procurement activity and higher demand from downstream industries. The market's overall trend was bearish for much of the quarter, characterized by cautious trading and soft demand, with occasional upticks linked to supply tightness. The outlook for the German Fumaric Acid market in Q4 remained cautious, driven by economic uncertainty and reduced consumption.
For the Quarter Ending September 2024
North America
Throughout Q3 2024, the North American Fumaric Acid market witnessed a persistent decline in prices, influenced by several key factors. Oversupply in the market, coupled with weak demand both domestically and internationally, has been a significant driver of the downward pricing trend. Reduced demand from downstream industries, lower production costs in key manufacturing countries, and intensified pricing competition have further contributed to the negative market sentiment.
The USA, experiencing the most significant price changes, has seen a consistent downtrend in Fumaric Acid prices. Additionally, the price stagnation of raw material Maleic anhydride in exporting and manufacturing nations, driven by oversupply and subdued demand, further contributed to the downward pressure on prices. The quarter-ending price in the USA stood at USD 1273/MT of Fumaric acid CFR New York with ana average quarter decline of 1.44%, reflecting the overall decreasing pricing environment in the region.
Additionally, U.S. buyers have postponed new purchases, anticipating further price reductions, which has exacerbated the supply-demand imbalance. Companies are also liquidating their stockpiles to reduce storage costs and avoid product spoilage, increasing market supply and further driving down prices. This trend indicates a challenging market landscape characterized by subdued demand, oversupply, and pricing pressures.
Asia Pacific
In Q3 2024, the APAC region witnessed a challenging period for Fumaric Acid pricing, characterized by a consistent decrease in market prices. Several significant factors influenced this downward trend. Oversupply and weakened demand dynamics played a pivotal role in driving prices lower. Increased production capacities, surplus inventory levels, and subdued market demand further exacerbated the pricing decline. Seasonal factors, such as scheduled manufacturing plant shutdowns, added pressure to destock inventories, particularly for heat-sensitive products like Fumaric Acid.
Additionally, the drop in raw material costs, notably Maleic Anhydride, contributed to the price decline. Maleic Anhydride prices fell by 6-7% due to lower crude oil prices and a subsequent decrease in refinery product prices. This decline in upstream costs has been a significant factor in the decreasing prices of Fumaric Acid. Weak demand for Maleic Anhydride in the domestic market, has reinforced the bearish sentiment in the Fumaric Acid market. This suggests that prices may remain under pressure in the near term.
Within China, the market experienced the most significant price changes, reflecting broader trends in the region. Seasonal shifts and logistical challenges further contributed to the bearish sentiment. Ultimately, the quarter-ending price of USD 1026/MT of Fumaric Acid -FOB Shanghai with an average quarterly decline of 3.44% in China signified the prevailing negative pricing environment in the region.
Europe
Throughout Q3 2024, the European Fumaric Acid market experienced a consistent decline in prices, with Germany notably witnessing the most significant price changes. Several factors contributed to this downward trend. Germany’s position as a major importer has further amplified the influence of global market dynamics, contributing to the overall price decline Reduced production costs in key manufacturing regions allowed for more competitive pricing strategies, leading to an oversupply of Fumaric Acid in the market.
Weak international purchasing activities further exacerbated the situation, resulting in ample domestic inventories and subdued demand levels. This imbalance between supply and demand created a buyer's market dynamic, putting pressure on prices to decrease steadily. Furthermore, reduced freight charges and lower shipping costs have facilitated the movement of Fumaric Acid, supporting this downward price trajectory
In Germany, the market showcased a negative trend with notable price fluctuations. Ultimately, the quarter ended with Fumaric Acid priced at USD 1178/MT CFR Hamburg in Germany with an average quarterly decline of 2.44% underscoring the prevailing downward pricing environment throughout Q3 2024.
For the Quarter Ending June 2024
North America
In Q2 2024, the North American Fumaric Acid market exhibited stable pricing trends, reflecting a consistent equilibrium. This stability was driven by a steady balance between supply and demand dynamics, primarily due to sufficient inventory levels maintained by suppliers. Additionally, production costs remained relatively stable, supported by consistent raw material prices. The lack of volatility in key cost drivers contributed to the maintenance of steady Fumaric Acid prices throughout the quarter.
Furthermore, the industry observed minimal fluctuations in transportation and logistical costs, which typically influence market prices. The absence of significant geopolitical disruptions also played a crucial role in maintaining a stable pricing environment. Market participants adopted a cautious approach, refraining from aggressive purchasing or selling, further contributing to price stability.
Focusing on the USA, the market remained stable with no significant seasonal variations affecting prices. The correlation between supply and demand dynamics remained consistent, resulting in no substantial price deviations. The price comparison between the first and second half of the quarter showed no change, further emphasizing the stable market environment. Concluding the quarter, the price of Fumaric Acid in the USA was USD 1325/MT CFR New York, with an average quarterly decline of 1.66%, reflecting a balanced market driven by consistent supply and demand, stable production costs, and minimal external influences.
Asia Pacific
In the second quarter of 2024, the Fumaric Acid market in the APAC region faced a significant decline in prices. This downturn was driven by a combination of increased supply, unfavorable currency fluctuations, and heightened geopolitical tensions. Market sentiment remained predominantly negative, largely due to an excess of inventory and reduced demand from both domestic and international markets. The devaluation of local currencies against the US Dollar further compounded the issue, diminishing the competitiveness of exports and leading to higher domestic stock levels and subsequent price reductions. Geopolitical tensions also disrupted trade routes, resulting in increased freight charges and further dampening demand.
China experienced the most notable price changes within the region. The overall trend in China showed a consistent downward trajectory, influenced by seasonal factors such as strategic destocking ahead of summer shutdowns to prevent quality degradation of powdered products like Fumaric Acid. This seasonality had a clear correlation with the price changes, contributing to a steady decline. By the end of the quarter, Fumaric Acid prices in China stood at USD 1130/MT FOB Shanghai, marking an average quarterly decline of 2.45%. This reflects the challenging pricing environment driven by the interplay of supply surplus, geopolitical disruptions, and currency depreciation.
Overall, the pricing landscape for Fumaric Acid in Q2 2024 was notably challenged. The confluence of increased supply, geopolitical tensions, and currency depreciation contributed to persistently negative market sentiment. As the market navigates these headwinds, stakeholders will need to closely monitor these factors to strategize effectively for the upcoming quarters.
Europe
In Q2 2024, the European Fumaric Acid market experienced a notable decline in prices due to a combination of global supply dynamics and weakened demand. The quarter saw reduced production costs in exporting countries, allowing manufacturers to offer lower prices, further driving the downward trend. Key factors contributing to this market behavior include manufacturers' efforts to clear surplus inventories to avoid escalating storage costs and mitigate risks of product deterioration. Additionally, a downturn in global purchasing activities led to ample domestic inventories, further dampening demand and tilting the market in favor of buyers, resulting in persistent price erosion.
Germany, in particular, witnessed the most pronounced price fluctuations, with a clear negative trend. Historical pricing patterns and seasonal factors indicate that Q2 is typically not favorable for Fumaric Acid price increments, and this year followed suit. A comparison between the first and second half of Q2 revealed an additional 2% drop in prices, highlighting a consistent downward trajectory.
By the end of Q2, the price of Fumaric Acid in Germany settled at USD 1260/MT CFR Hamburg, reflecting an average quarterly decline of 2.92%. This encapsulates the overall negative sentiment of the quarter, driven by oversupply and diminished demand. The pricing environment remains challenging for producers and sellers, as the market continues to face significant downward pressure.
