For the Quarter Ending March 2025
North America
The North American Glyoxylic Acid market exhibited a cautiously bullish trend in Q1 2025, driven by a blend of supply disruptions, steady demand, and feedstock uncertainties. In January, prices remained stagnant due to softened post-holiday demand and ample inventories. However, by mid-January, supply chain issues, particularly a shortage of Nitric Acid caused by low Mississippi River water levels, pushed prices higher. Despite consistent demand from the pharmaceutical and agricultural sectors, the market remained largely balanced by the end of the month.
In February, extreme winter conditions in key U.S. manufacturing zones constrained production, creating supply-side tightness. While consumer spending declined, demand from the cosmetics and personal care sectors, especially skincare and makeup, remained resilient. Logistical challenges, including chassis shortages and proactive inventory stocking, further supported upward pricing momentum, as buyers accelerated purchases fearing prolonged production disruptions.
By March, prices stabilized, but bullish fundamentals persisted. As weather conditions improved, domestic supply recovered, and tariffs on imported chemicals boosted demand for local products. Despite inflationary pressures and weaker cosmetic sales, steady demand from core sectors, along with a stable cost structure, reinforced the positive pricing sentiment. Overall, Glyoxylic Acid prices rose by 1.4% in the U.S., reaching USD 1624/MT FOB Louisiana by the end of the quarter.
Europe
The European Glyoxylic Acid market witnessed a largely bullish price trajectory in Q1 2025, driven by a confluence of regulatory, supply-side, and demand-based factors. The quarter commenced with price stagnation, but market dynamics shifted rapidly following the European Union’s imposition of anti-dumping duties on Chinese imports, eliminating a key external supply source. This regulatory move led to a regional supply crunch, as domestic producers faced challenges ramping up output amid surging energy and feedstock costs, particularly for Nitric Acid and upstream Ammonia. Although demand initially softened post-holiday, steady consumption from the cosmetics, personal care, and agrochemical sectors provided price support. International demand—particularly from India and the USA—intensified in February due to festive stockpiling activities. Concurrently, logistical constraints, including vessel delays and input bottlenecks, hindered supply replenishment, exacerbating tight market conditions. While overall demand remained moderate, limited inventory levels and cautious downstream procurement strategies supported firm pricing. Additionally, innovation-driven activity in the cosmetics sector and seasonal pre-summer buying modestly lifted demand. Despite temporary pricing plateaus in March, the quarter ended on a strong note, with prices climbing 4.27%, especially in Germany and reached at USD 3769/MT FOB Hamburg.
APAC
In Q1 2025, the Glyoxylic Acid market in the Asia-Pacific (APAC) region followed a largely bullish price trajectory, supported by firm demand and rising input costs. January saw strong price gains driven by seasonal demand from downstream sectors such as cosmetics, agrochemicals, and pharmaceuticals. Pre-Lunar New Year stockpiling and logistical disruptions further fueled the uptrend. In the personal care industry, rising awareness of climate effects and skincare needs, particularly for suncare and anti-aging products, significantly boosted consumption. Supply-side constraints also supported prices, as operational slowdowns at some northern Chinese facilities led to tighter availability despite high overall production levels. In February, the market saw a brief price stabilization due to post-holiday sentiment. However, port congestion and cautious inventory strategies kept prices from falling. March brought renewed price increases amid rising costs of raw materials, energy, and freight. While domestic production remained stable, sustained downstream demand and inflationary pressures maintained firm market sentiment. Only by late March did bearish signs appear, with easing feedstock Nitric Acid prices and a seasonal demand slowdown slightly softening market condition. Overall, Q1 concluded on a bullish note—prices rose by 2.3%, mainly in China, reaching USD 1191/MT FOB Qingdao.
For the Quarter Ending December 2024
North America
The North American Glyoxylic Acid market experienced significant volatility during the final quarter of 2024, with prices initially declining due to subdued demand. However, this downward trend was short-lived, and prices began to rise as the quarter progressed. On the demand side, key industries such as personal care and cosmetics maintained steady purchasing activity, utilizing Glyoxylic Acid in products like hair straighteners and skincare formulations. The predictable consumption patterns in these sectors helped stabilize market conditions despite the initial price dip.
However, supply-side constraints also played a critical role in the price surge. Several production units in the region faced disruptions due to force majeure events, including hurricanes and heavy downpours, which resulted in production halts and delayed shipments.
These unforeseen disruptions exacerbated existing supply constraints, further contributing to the tightening of the market. The combination of stable consumer demand and these supply-side challenges led to a recovery in prices, with the Glyoxylic Acid market finishing the quarter on a more positive note.
Asia-pacific
During the fourth quarter of 2024, the Glyoxylic Acid market in the Asia-Pacific region, particularly in China, faced considerable challenges, resulting in a decline in prices. The European Union's imposition of antidumping duties on Chinese-origin Glyoxylic Acid significantly disrupted established trade flows, forcing Chinese producers to seek alternative markets or scale back production due to reduced demand from Europe. Despite these obstacles, domestic production in China remained stable, as manufacturing facilities operated at healthy capacity utilization rates. This consistent production ensured a steady supply of Glyoxylic Acid into the domestic market, while sufficient inventory levels acted as a buffer, mitigating the immediate effects of reduced export volumes. Additionally, with the shift in export dynamics, domestic market demand remained moderate, and although production continued at steady levels, the surplus in supply, combined with weaker export prospects, exerted downward pressure on prices. This scenario highlights the interplay of international trade challenges, stable domestic production, and reduced export opportunities contributing to the price decline in the Asian market.
Europe
The European Glyoxylic Acid market experienced a significant surge in prices during the final quarter of 2024, influenced by multiple factors. A key development was the European Commission’s recent decision to require the registration of Glyoxylic Acid imports from China, a regulatory move that could potentially lead to trade restrictions or anti-dumping measures. This decision has caused caution among importers, with concerns that it may result in reduced import volumes and tightening future supply. On the demand side, buyer interest in Glyoxylic Acid exhibited a mixed pattern throughout the quarter. Initially, modest inquiries were observed, driven by the seasonal increase in demand for personal care and cosmetic products during the New Year festivities. However, as the quarter progressed, demand began to subside, reflecting a weakening interest from downstream sectors. This decline in demand, coupled with potential supply constraints due to regulatory changes, contributed to the upward pressure on prices, creating a volatile market environment in the final months of 2024.
For the Quarter Ending September 2024
North America
In Q3 2024, the North American Glyoxylic Acid market experienced a decline in prices, reflecting a bearish market environment. Several factors contributed to this pricing scenario. The market has maintained moderate to high supply levels, ensuring steady production to meet demand from downstream industries. Despite some fluctuations in inventory due to external factors like natural disasters, overall supply remained robust. However, demand from the end-user cosmetics market stagnated, and manufacturing activities were subdued, characterized by low trading levels that indicated reduced consumption of Glyoxylic Acid.
In the USA, which saw the most significant price changes, the market remained steady with no major disruptions in the supply chain. While the prices of essential feedstock, such as Nitric Acid and upstream Ammonia, were increasing, their cost pressure on Glyoxylic Acid prices remained limited. Compared to the previous quarter, prices recorded a modest decline of 3.2%, showcasing an overall downward trend.
Most demand came from smaller buyers, reflecting a cautious and measured approach within the market. The latter half of the quarter saw a slight price surge of 0.2% compared to the first half, indicating a gradual decrease over the period. By the end of the quarter, the price of Glyoxylic Acid (50%) FOB Louisiana was recorded at USD 1561/MT, underscoring the prevailing challenging market conditions.
APAC
In Q3 2024, the APAC region experienced a decrease in Glyoxylic Acid prices, with China at the forefront of significant price changes. The Chinese Glyoxylic Acid market continued to decline. The price of essential feedstock material Nitric Acid was declining the same period prompting towards reduced production rates thus exerting downward pressure on Glyoxylic Acid. This price downturn is largely attributed to the surplus availability of Glyoxylic Acid within the market. Persistent port congestion has resulted in stockpiled inventories at various ports across China. Severe weather conditions affecting East Asian ports have exacerbated congestion, leading to numerous sailing cancellations. On the demand side, the market faced inconsistent requirements from major end-use industries, particularly the cosmetics and haircare sector. Specifically focusing on China, the market witnessed the significant price fluctuations. The quarter recorded a marginal decline of -1% from the previous quarter in 2024. Notably, the second half of the quarter saw an 3.9% price increase, culminating in a quarter-ending price of USD 1160/MT of Glyoxylic Acid (50%) FOB Qingdao in China.
Europe
The third quarter of 2024 has been challenging for the Glyoxylic Acid market in the Europe region, marked by decreasing prices. Several factors have contributed to this trend, including subdued demand from key industries like cosmetics and haircare, logistical challenges impacting international trade, and a lacklustre performance in the global market. France, in particular, has witnessed significant price changes, reflecting the overall negative sentiment in the market. Most of the demand came from smaller buyers, indicating a cautious and measured approach within the market. The quarter saw a 5% decrease compared to the previous quarter in 2024. Notably, prices in the first half of the quarter were 3% higher than in the second half, indicating a rapid decline towards the end of the period. The quarter-ending price for Glyoxylic Acid (50%) Bulk FD Le Havre in France stood at USD 3035/MT, underscoring the prevailing downward pricing trend in the market. The overall pricing environment has been predominantly negative, with consistent pressure on prices due to a combination of demand constraints and external market dynamics.
For the Quarter Ending June 2024
North America
The North American Glyoxylic Acid market experienced mixed sentiments throughout the second quarter. Prices surged by 4.4% in April but declined as the quarter progressed. The initial increase in Glyoxylic Acid prices was primarily driven by the resurgent seasonal demand from the downstream cosmetics and haircare sector during the summer season. Surveys indicated a significant surge in sales for leading players in the Western market, with sales growth exceeding 6%. Notably, L'Oréal, the world's largest beauty company, reported sales growth of over 12% in both North America and Europe, with its mass market range and dermatological products offsetting weaknesses in the luxury segment.
The increased sales of cosmetic products subsequently stimulated demand for Glyoxylic Acid, which is a vital ingredient in various cosmetic formulations. However, prices dipped towards the end of the quarter. Throughout this period, the inflow of cargoes was smooth, and no major hindrances in the supply chain were reported.
Simultaneously, demand began to drop as consumers had already stocked up on inventories. By the end of the quarter, the price of Glyoxylic Acid 50% FOB Louisiana was USD 1,636, reflecting the overall market dynamics of fluctuating demand and stable supply.
APAC
The Asian Glyoxylic Acid market exhibited mixed sentiments throughout the second quarter, with China and South Korea being the most affected areas. Prices surged during the initial two months of the quarter, driven by the resurgent seasonal demand from the downstream cosmetics and haircare sector during the summer season. Surveys revealed a significant increase in sales for leading players in the Chinese market, with L’Oréal registering a month-on-month increase of over 50%, followed by Head & Shoulders with a 68.7% rise, and Lancôme experiencing a surge of more than 50%. These increased sales of cosmetic products stimulated demand for Glyoxylic Acid, a crucial ingredient in various cosmetic formulations. This resurgence in demand from the cosmetics and haircare sectors underscores the gradual recovery of consumer confidence and purchasing power, reflecting positive momentum within these industries. However, prices declined during the final month of the quarter. Throughout this period, the inflow of cargoes remained smooth, and no major hindrances in the supply chain were reported. Simultaneously, demand began to drop as consumers had already stocked up on inventories. By the end of the second quarter, the price of Glyoxylic Acid (50%) CFR Busan was USD 1,207 per metric ton, reflecting the overall market dynamics of fluctuating demand and stable supply.
Europe
During the second quarter of 2024, the European Glyoxylic Acid market exhibited mixed sentiments. Prices increased by 2.8% in the initial month of the quarter but subsequently declined. The initial price rise was mainly due to the resurgent seasonal demand from the downstream cosmetics and haircare sector during the summer season. Surveys indicated a significant increase in sales for leading players in the Western market, with sales growth exceeding 6%. Notably, L'Oréal, the world's largest beauty company, reported sales growth of over 12% in both North America and Europe, with its mass market range and dermatological products offsetting weaknesses in the luxury segment. The increased sales of cosmetic products stimulated demand for Glyoxylic Acid, a vital ingredient in various cosmetic formulations. However, prices dipped towards the end of the quarter as demand waned, and consumers had already stocked up on inventories. Throughout this period, the inflow of cargoes was smooth, with no major supply chain disruptions reported. By the end of the quarter, the price of Glyoxylic Acid 50% FOB Louisiana was USD 1,636, while the quarter-ending price of Glyoxylic Acid 50% FD Le Havre (France) was USD 4,111 per metric ton. These prices reflect the overall market dynamics of fluctuating demand and stable supply.
