For the Quarter Ending December 2025
North America
• In USA, the Glyoxal Price Index rose by 3.69% quarter-over-quarter, supported by tighter import availability.
• The average Glyoxal price for the quarter was approximately USD 561.67/MT, reflecting balanced supply conditions.
• Glyoxal Spot Price remained firm as delayed Asian shipments constrained prompt availability to US distributors.
• Glyoxal Production Cost Trend benefited from lower MEG feedstock, supporting domestic output and margin stability.
• Glyoxal Demand Outlook improved seasonally as textile, packaging and oilfield procurement increased year end offtake.
• Glyoxal Price Forecast expects modest volatility as restocking and shipping normalization influence delivered DDP values.
• Import delays pressured the Glyoxal Price Index, allowing sellers to apply logistical premiums across markets.
• Domestic plant operations remained stable, supporting supply reliability despite freight headwinds and vendor tariff delays.
Why did the price of Glyoxal change in December 2025 in North America?
• Import logistical frictions and higher landed costs reduced supply, lifting delivered prices for regional buyers.
• Lower MEG feedstock costs eased production expenses, allowing producers to sustain output and pass premiums.
• Seasonal retail strength and oilfield inventory builds supported downstream demand, offsetting supply softness, reinforcing prices.
APAC
• In China, the Glyoxal Price Index rose by 2.55% quarter-over-quarter, driven by firmer demand overall.
• The average Glyoxal price for the quarter was approximately USD 468.33/MT, reflecting steady production levels.
• Improved logistics supported Glyoxal Spot Price stability despite inventories and a muted Price Index recovery.
• Glyoxal Price Forecast expects modest volatility as pre-holiday restocking contests limited downstream demand recovery pace.
• Lower MEG input costs improved Glyoxal Production Cost Trend, supporting steady operating rates and margins.
• Glyoxal Demand Outlook remains subdued as textiles and adhesives maintain just-in-time buying and limited restocking.
• Soft export interest pressured the Glyoxal Price Index, while contracted volumes constrained spot market tightening.
• Scheduled maintenance expectations and vendor coordination altered offers, influencing Glyoxal Spot Price into early quarter.
Why did the price of Glyoxal change in December 2025 in APAC?
• Ample domestic supply and stable production ensured abundant availability, limiting sellers' pricing leverage and downward pressure.
• Weak downstream demand, notably textiles and adhesives, reduced offtake and prompted just-in-time buying, slowing price recovery.
• Lower MEG feedstock costs moderated production expenses while muted export inquiries failed to absorb accumulating inventories.
Europe
• In Germany, the Glyoxal Price Index rose by 2.46% quarter-over-quarter, reflecting tightening supply and exports.
• The average Glyoxal price for the quarter was approximately USD 693.33/MT, reflecting stable export procurement dynamics.
• Port congestion and logistics delays tightened Glyoxal Spot Price availability, allowing sellers to widen offered premiums.
• MEG increases influenced Glyoxal Production Cost Trend, prompting suppliers to adjust offers reflecting higher expenses.
• Export demand strengthened late quarter, supporting the Glyoxal Price Index and limiting domestic available volumes.
• Short-term Glyoxal Price Forecast shows modest early-year gains as restocking and winter energy costs support offers.
• Downstream procurement in textiles and packaging underpinned Glyoxal Demand Outlook, keeping operating rates steady regionally.
• Inventory draws and distributor cautious selling reduced visible prompt availability for Glyoxal Spot Price levels.
Why did the price of Glyoxal change in December 2025 in Europe?
• Rising MEG feedstock costs increased production economics, enabling suppliers to pass through higher Glyoxal prices.
• Persistent logistical challenges and port congestion constrained prompt availability, tightening domestic supply versus export demand.
• Seasonal export procurement and textile finishing restocking drained inventories, reducing spot offers and supporting prices.
For the Quarter Ending September 2025
North America
• In the USA, the Glyoxal Price Index fell by 0.61% quarter-over-quarter, citing weaker downstream demand.
• The average Glyoxal price for the quarter was approximately USD 541.67/MT, reported by DDP Texas.
• Glyoxal Spot Price softened as import arrivals increased and domestic output remained available across terminals.
• Glyoxal Production Cost Trend reflected earlier MEG inflation, then eased recently, supporting modest margin stabilization.
• Glyoxal Demand Outlook points to autumn construction-driven procurement increases supporting adhesives and coatings manufacturers regionally.
• Glyoxal Price Forecast expects modest gains as seasonal restocking and selective buying tighten prompt availability.
• Inventory accumulation and weaker export interest pressured the Glyoxal Price Index, prompting occasional seller discounting.
• Port congestion and freight swings intermittently raised landed costs, lifting localized Glyoxal Spot Price support.
Why did the price of Glyoxal change in September 2025 in North America?
• Improved import volumes and steady domestic production increased availability, weighing on prompt Glyoxal Price Index.
• Easing MEG costs reduced production expenses, enabling sellers to lower offers and relieve cost pressure.
• Logistics improvements and lower freight rates shortened lead times, reducing urgency-driven buying and dampening demand.
APAC
• In China, the Glyoxal Price Index fell by 1.93% quarter-over-quarter, driven by weak downstream demand and ample supply.
• The average Glyoxal price for the quarter was approximately USD 456.67/MT, reflecting soft market conditions.
• Glyoxal Spot Price pressure persisted as abundant inventories and competitive export offers kept the Price Index subdued.
• Glyoxal Price Forecast indicates modest volatility ahead, with pre-holiday restocking potentially tightening supply and lifting offers.
• Glyoxal Production Cost Trend was muted as elevated MEG feedstock remained offset by secured inventories and stable operating rates.
• Glyoxal Demand Outlook remains cautious because textile, paper, and leather sectors deferred purchases amid seasonal lull.
• Weak export flows and sufficient domestic inventories pressured margins, keeping the Glyoxal Price Index under sustained downward pressure.
• Logistical delays, monsoon disruptions, and cautious buyers limited offtake, constraining Glyoxal Spot Price activity despite routine plant operating rates.
Why did the price of Glyoxal change in September 2025 in APAC?
• Persistent domestic oversupply from continued production kept downward pressure on prices and export opportunities were limited.
• Subdued downstream demand from textile and paper sectors reduced buying, preventing meaningful restocking and supporting price weakness.
• MEG feedstock cost fluctuations were insufficient to prompt production cuts, while logistics constraints and trade uncertainty limited demand recovery.
Europe
• In Germany, the Glyoxal Price Index fell by 1.93% quarter-over-quarter, reflecting mixed monthly supply-demand swings.
• The average Glyoxal price for the quarter was approximately USD 676.67/MT, FOB Hamburg reported levels.
• Glyoxal Spot Price softened through August as improved logistics eased bottlenecks, tempering near-term export competitiveness.
• Glyoxal Price Forecast projects near-term volatility into Q4, with seasonal restocking and maintenance influencing offers.
• Glyoxal Production Cost Trend reflected natural gas expenses, pressuring margins while MEG feedstock prices eased.
• Glyoxal Demand Outlook remains cautious as textile and construction slowdowns limit restocking, moderating price momentum.
• Glyoxal Price Index showed volatility driven by Rhine transport disruptions and redirected export flows Asia-bound.
• Inventories and export demand imbalances influenced offers, with producers adjusting availability while prioritizing contract coverage.
Why did the price of Glyoxal change in September 2025 in Europe?
• Logistics disruptions, Rhine water levels and rail congestion restricted raw material movement, reducing output.
• Higher natural gas costs raised production expenses, discouraging capacity ramps and supporting tighter offered prices.
• Export demand softened as Asian competition and overseas inquiries reduced spot offtake, pressuring regional prices.
For the Quarter Ending June 2025
North America
• The Glyoxal Price Index in North America inclined by 3.5% quarter-over-quarter in Q2 2025, driven by sustained demand from the construction sector and higher import costs amid upstream and logistical constraints.
• After a weak start in April, prices rose in May and June as import volumes tightened and forward buying intensified ahead of tariff reviews and Asian supply disruptions.
• Domestic producers operated under elevated production costs due to rising Monoethylene glycol (MEG) prices, while Asian exporters raised offers amid crude-linked cost pressure and freight volatility.
• Construction-led demand improved through the quarter, particularly from non-residential and infrastructure projects, as hiring gains and procurement activity strengthened adhesive and coatings consumption.
• Overall, Q2 price growth was supported by steady demand recovery and tighter supply conditions, with buyers front-loading purchases ahead of potential trade shifts.
Why did the price of Glyoxal change in July 2025 in North America?
• Glyoxal prices in the U.S. increased in July 2025 compared to June, as market sentiment remained firm amid ongoing trade policy uncertainty and elevated upstream costs.
• Import availability remained restricted, with Chinese and Southeast Asian exporters maintaining high offers due to energy-linked feedstock pressure and port congestion delays.
• Demand from construction and coatings sectors remained steady, with seasonal strength and ongoing project activity supporting base-level offtake.
• Prices remained elevated as buyers continued precautionary procurement ahead of anticipated policy reviews and cost-side pressure persisted despite stable domestic supply operations.
Europe
• The Glyoxal Price Index in Europe declined by 0.5% quarter-over-quarter in Q2 2025, as early-quarter weakness offset later gains from supply-side strain and modest demand recovery.
• Prices fell sharply in April due to poor offtake across adhesives and coatings, compounded by muted construction activity and export uncertainty amid U.S.–EU trade friction.
• In May and June, prices rebounded as construction and cosmetic sectors recovered across southern Europe, while rising U.S. demand supported exports.
• Logistics bottlenecks—including critically low Rhine River water levels and rail congestion—limited market availability despite stable production, tightening spot supply.
• In conclusion, Q2 pricing was shaped by early-quarter demand drag, followed by supply disruptions and mid-quarter restocking that underpinned a modest recovery by June-end.
Why did the price of Glyoxal change in July 2025 in Europe?
• Glyoxal prices in Germany rose in July 2025 compared to June, driven by sustained supply tightness and firm downstream interest from adhesives and coatings.
• Logistical inefficiencies remained unresolved, especially on the Rhine and inland rail routes, prolonging delivery timelines and straining regional inventory levels.
• While construction and textile demand remained seasonally steady, industrial buyers advanced purchases in anticipation of further transport-related delays.
• Prices remained elevated through July, as constrained supply and lean converter inventories continued to support a bullish pricing environment.
APAC
• The Glyoxal Price Index in APAC rose by 6.4% quarter-over-quarter in Q2 2025, driven by upstream feedstock shortages and modest downstream support.
• At the start of Q2, production disruptions at MEG plants in China tight¬¬ened glyoxal output and reduced inventories, while logistical bottlenecks further constrained supply.
• Demand showed signs of recovery in Q2, led by increased consumption in construction-related adhesives and coatings, along with pre-May Day export buying, providing intermittent price support.
• Export volumes received a temporary boost mid-quarter as international buyers stocked ahead of Chinese holidays, though overall overseas demand remained cautious.
• In conclusion, Q2 in APAC saw glyoxal prices climb on the back of tight supply and selective downstream demand, with infrastructure activity and holiday procurement underpinning the upward trend.
Why did the price of Glyoxal change in July 2025 in APAC?
• In July 2025, the Glyoxal Price Index in APAC increased compared to June, as persistent MEG supply disruptions continued to restrict output.
• Production remained challenged due to ongoing MEG plant maintenance and logistical delays, keeping feedstock tight and enabling price increases.
• Demand provided limited support—while construction-linked off¬take softened after the Q2 peak, steady industrial activity in adhesives and coatings helped stabilize markets.
• Prices are anticipated to remain elevated in the near term, supported by lingering feedstock constraints and stable industrial-grade glyoxal demand.
For the Quarter Ending March 2025
North America
In Q1 2025, Glyoxal prices in the North American region recorded a quarter-on-quarter incline of 3.27% compared to Q4 2024. At the start of the quarter, prices declined due to robust supply conditions and sluggish demand. Stable domestic production, coupled with low-cost imports and reduced freight expenses, created a competitive market. However, downstream demand from construction remained weak, with seasonal slowdowns and elevated borrowing costs limiting activity despite federal infrastructure support.
Mid-quarter, prices rose as feedstock MEG costs climbed, and supply faced temporary constraints from winter storms and labour shortages. While logistics improved, suppliers responded to strong construction activity—particularly in adhesives and coatings—by adjusting prices upward. Ongoing trade uncertainties and tariff speculations added further bullish pressure, tightening the supply-demand balance.
Toward the quarter’s end, prices increased moderately due to logistical disruptions and a rebound in downstream consumption. Import challenges, extended lead times, and cautious procurement amid economic uncertainty constrained supply. Rising non-residential construction activity lifted glyoxal demand in coatings and industrial applications. US saw the most significant change with a noticeable incline compared to Q4 2024, with the quarter-end price settling at USD 550/MT DDP Texas.
APAC
In Q1 2025, Glyoxal prices in the APAC region recorded a quarter-on-quarter decline of 11.8% compared to Q4 2024. At the start of the quarter, prices decreased as stable production and inventory management offset slightly higher MEG feedstock costs. Weak demand from construction and real estate sectors - evidenced by significant declines in property sales - drove the downward trend, with market sentiment further dampened by trade uncertainties. Midway through the quarter, prices posted a slight rebound, underpinned by recovering consumption from government-led infrastructure initiatives. Although the real estate segment remained under strain, steady manufacturing output and stable raw material pricing created favourable conditions. The uptick in glyoxal demand was largely attributed to increased usage in coatings and paper treatment linked to public works, which temporarily stabilized the market. By quarter-end, prices softened again due to oversupply and sluggish offtake. Despite resumed post-holiday industrial activity, domestic demand remained cautious. Export potential was hampered by the EU's preliminary anti-dumping duties on Chinese glyoxylic acid, limiting derivative consumption. The quarter closed at USD 435/MT FOB Shanghai, with the overall decline driven by persistent oversupply and muted downstream recovery.
Europe
In Q1 2025, Glyoxal prices in the European region recorded a quarter-on-quarter incline of 5.5% compared to Q4 2024. At the start of the quarter, prices dropped due to steady production levels and lower monoethylene glycol (MEG) costs, which benefited manufacturers. Efficient post-holiday inventory management and logistical stability kept the market relatively balanced. However, demand from the construction sector remained subdued, hindered by inflation and rising material costs, leading to cautious project initiation. Mid-quarter, prices began to increase as MEG and natural gas prices rose, putting upward pressure on production costs. Though the construction sector continued to underperform, the EU’s imposition of provisional anti-dumping duties on epoxy resins from Asia indirectly supported glyoxal demand. These duties made glyoxal-based alternatives more attractive in coatings and adhesives, contributing to a tightening supply and an uptick in prices. By the end of the quarter, prices rose further, driven by surging MEG costs and restricted access to imported glyoxylic acid, prompting manufacturers to increase local production. A slight recovery in the decorative coatings sector also supported this upward trend, reinforcing the overall quarterly increase. Germany saw the most significant change, with the quarter-end price settling at USD 750/MT FOB Hamburg.
