For the Quarter Ending June 2025
North America
• Malic acid prices exhibited a downward trend overall through Q2 2025, falling from an average of around USD 1,621 in April to USD 1,563 by June; overall quarter-over-quarter average fluctuation registered at approximately -1.68%, signaling a bearish market trajectory.
• April’s Malic acid spot price climbed sharply early in the month due to escalated production costs, port congestion, and new global tariffs, but corrected downward in the second half as exporting countries saw lower costs, directly impacting the US Malic acid price forecast.
• By late April, abundance in supply, subdued end-user demand, and robust inventory management pressured Malic acid spot prices, with bearish signals overriding early upward momentum.
• Entering May, Malic acid prices recovered temporarily on the back of constrained imports caused by Chinese supply hiccups, USD depreciation, and ongoing freight/logistics challenges, underpinning the Malic acid production cost trend for the month.
• US buyers adopted a defensive procurement stance in May due to volatile import prices and persistent uncertainty, which kept domestic inventories lean and Malic acid demand outlook neutral to soft.
• In mid-May, normalization of Chinese exports and improved logistics released previous supply stress, prompting prices to correct downward and further emphasize a fluctuating Malic acid spot price pattern.
• Despite a short-lived rally in late May—driven by freight volatility and currency depreciation—prices once again eased, reflecting a cautious demand environment and recalibrated supply chains.
• June saw continued pressure on Malic acid prices, with a noticeable drop in early June caused by inventory surpluses and weak consumer activity, pinning the Malic acid spot price near USD 1,563/MT.
• A mid-June rebound emerged as food and beverage sector demand revived slightly, and supply constraints from China and Germany limited export availability, temporarily uplifting the Malic acid demand outlook.
• By late June, stable feedstock inflows and smooth logistics narrowed price fluctuations; the Malic acid production cost trend stabilized, and prices entered a range-bound, steady state amid balanced supply-demand signals.
APAC
• Malic acid prices in APAC trended steadily downward throughout Q2 2025, falling from a quarterly peak of USD 1,454/MT in April to USD 1,388/MT by June, yielding an average month-on-month decrease of about 1.8%, setting a clear bearish quarter-over-quarter trajectory.
• Early April was marked by robust Malic acid spot prices, as seasonal and export demand surged, logistical bottlenecks persisted, and production discipline controlled inventory flows, all boosting the Malic acid demand outlook.
• This strength dissipated mid-April as excess supply—stemming from earlier stockpiling and weak post-holiday uptake—drove prices lower, aligning with a gloomy Malic acid price forecast.
• By late April, persistent oversupply, sluggish demand, and falling upstream Maleic Anhydride costs triggered further price erosion, underscoring the weak Malic acid production cost trend.
• The first half of May saw a brief respite as holiday-reduced output and heightened restocking activities temporarily buoyed Malic acid spot prices and accentuated logistical constraints.
• However, normalization of production and logistics by mid-May leveled out inventory pressures; demand stabilized and speculative orders faded, resulting in only marginal price movement and a muted Malic acid demand outlook.
• The end of May reflected softening sentiment, as previously accumulated inventories alleviated supply stress, ultimately pushing Malic acid prices marginally downward and enforcing the quarterly bearish pattern.
• June deepened the downtrend, with domestic and export demand remaining weak and ample supply across all sectors; a stronger Yuan and high freight rates further restrained Malic acid spot price recovery.
• Mid-June saw a momentary halt in price decline as supply and demand briefly balanced, but persistent sluggish offtake thwarted any meaningful rebound, keeping the quarter anchored at a lower Malic acid price forecast.
• By the close of June, despite steady production and raw material inflows, regional prices stabilized in a low, narrow range around USD 1,388, with end-market weakness capping the Malic acid demand outlook and cost-driven incentives.
Europe
• Malic acid prices showed a largely downward but moderating trend in Q2 2025, with Italian FOB prices sliding from USD 2,704/MT in April to USD 2,589/MT in June (average decrease: -3.03%), while Beverage Grade FCA prices were relatively stable, dipping marginally, highlighting a more balanced quarter-over-quarter shift.
• April opened with strong Malic acid spot prices boosted by healthy food, pharma, and cosmetic demand, currency tailwinds, and reduced maleic anhydride input costs, offering temporary bullishness to the Malic acid price forecast.
• Mid-April, downward corrections set in as holidays, transport bottlenecks, and reduced end-user demand triggered price declines, while sufficient inventory and improved chemical deliveries quelled urgency in the market.
• The tail end of April reflected stabilized though cautious trading; with adequate stockholding and steady logistics, prices closed weaker despite sporadic demand upticks, marking the start of the quarterly trend.
• May began with upward pressure traced to seasonal demand, tighter supply due to holidays, and euro-driven increases to Malic acid production cost trends, underpinned by robust food and beverage sector offtake.
• However, by mid-May, the normalization of supply, balanced with ample inventories, caused a subtle correction; urgency in procurement receded and only minor price movements occurred.
• Late May saw a transitory price recovery, but ongoing efforts to restock and stabilize the market quickly capped further rises; overall, May closed just marginally lower, in line with a consolidating Malic acid spot price environment.
• In June, the market turned subdued as pricing softened on account of high stocks, minimized manufacturing activity, and persistent weak consumption—despite increased freight expenses—reinforcing a restrained Malic acid demand outlook.
• Mid-June, suppliers’ efforts to underpin prices yielded only modest gains; resilient operational rates and reliable feedstock contributions helped prevent sharper declines, maintaining a narrow price band.
• By the end of June, continuity in plant operations, regular logistics, and steady upstream flows ensured price stabilization: Malic acid spot prices hovered at USD 2,589 (FOB) and USD 2,175 (FCA Beverage Grade), reflecting a largely range-bound, steady Malic acid production cost trend.
• Overall, seasonal distribution challenges and feedstock management risks remained, but no major shocks occurred, locking Q2 into a tentative, balanced Malic acid price forecast awaiting definitive demand-side signals.
For the Quarter Ending March 2025
North America
The U.S. Malic acid market in Q1 2025 experienced moderate fluctuations, with prices following an overall upward trend. January began with a weak demand due to high inventories and subdued consumption, particularly in food and pharmaceuticals. Competitive imports, especially from China, contributed to the price pressure early in the month. However, demand began to recover post-holiday season, especially in food and beverage sectors, helping to stabilize prices. Despite a slight recovery, the market remained largely stable by the end of January, hindered by high stock levels and cautious buying.
February saw stronger growth driven by robust demand across industries like food, pharmaceuticals, and chemicals. A resurgence in Chinese manufacturing helped boost exports, leading to an increase in orders from U.S. buyers. However, new tariffs and rising freight costs added upward pressure on prices, complicating the market dynamics. Despite these challenges, steady demand and improved manufacturing PMI helped keep the market firm.
In March, logistical inefficiencies and rising production costs continued to push prices higher. Disruptions at major U.S. ports and escalating tariff impacts strained supply chains, resulting in tight availability. Overall, Q1 2025 ended with sustained upward pricing pressure, driven by strong demand and supply chain challenges, with little price correction expected in the near term.
Asia Pacific
In Q1 2025, the Malic Acid market in Thailand experienced notable fluctuations, driven by a mix of supply-demand dynamics, logistical challenges, and external economic factors. January began with a price decline due to oversupply, driven by pre-holiday stockpiling and weak demand. Despite a stable supply, the Thai Baht’s depreciation against the U.S. Dollar added downward pressure on prices.
February saw an initial price increase, supported by strong demand from key sectors like food and pharmaceuticals, along with rising freight costs and the resumption of Chinese production post-Lunar New Year. However, by mid-month, prices fell sharply due to weakening international demand and reduced export prices from major producers. The market sentiment shifted towards caution, with buyers focusing on existing inventories.
March brought a mild recovery, with prices rising due to tight supply conditions and continued strong demand from food and supplement sectors. However, improved supply from China in the third week caused a slight dip in prices, followed by a modest recovery in the fourth week. Overall, the market ended the quarter with stable pricing, though logistical challenges and inventory concerns kept market participants cautious. Looking ahead, Q2 2025 is expected to show moderate price support, with supply chains gradually normalizing and demand remaining steady.
Europe
In Q1 2025, the Malic Acid market in the Netherlands experienced fluctuating price trends, with a general shift from softness to a slight upward movement. January began with a bearish market, as weak demand, a surplus supply, and a depreciating Euro led to price declines. High inventory levels from pre-holiday stockpiling exacerbated the situation, with buyers adopting a cautious, need-based purchasing approach. By the end of the month, prices stabilized as production costs rose slightly, although the overall market remained soft due to steady but weak demand.
February saw a mix of price movements. Prices initially rose due to increased demand from the pharmaceutical, food, and chemical sectors, along with higher logistical costs. However, by the end of the month, weakening demand, especially from the pharmaceutical and food sectors, and slowing international buying led to a decline in prices. The market remained pressured by logistical delays and rising transportation costs.
In March, the market shifted towards an upward trend, supported by steady demand from food and beverage sectors and seasonal health trends. However, logistical bottlenecks and supply constraints continued to influence price fluctuations. The overall market sentiment remained bullish, despite occasional price corrections, with upstream cost pressures and strong demand helping to maintain upward price momentum.
For the Quarter Ending December 2024
North America
In Q4 2024, the U.S. Malic Acid market experienced significant fluctuations, driven by supply and demand imbalances, inventory levels, and global market conditions. The quarter started with a price increase due to strong domestic and export demand, particularly from the pharmaceutical and nutraceutical sectors.
However, by mid-October, prices began to decline due to weakened demand and high inventories. Despite attempts to stimulate demand with discounts, weak sentiment persisted, and supply issues worsened due to production constraints and disruptions like the Golden Week holiday in China. In November, prices showed modest rises but remained volatile due to high inventory levels and sluggish demand from key sectors.
By mid-December, competitive pricing from Chinese suppliers further influenced U.S. imports, driving price decreases. However, by late December, the market saw a slight decline in prices, influenced by stable demand and lower production costs. Overall, the market saw a gradual decline in prices throughout Q4, with fluctuations driven by shifting demand, production dynamics, and external factors such as raw material prices and supply chain issues. The overall trend for Q4 was a price decline with periods of volatility.
Asia Pacific
The Malic acid market in Q4 2024 experienced a predominantly bearish trend, with fluctuating prices reflecting supply and demand pressures. Early October saw stable conditions, driven by consistent supply dynamics and a temporary holiday break in China. However, as the quarter progressed, the market shifted towards a buyer-friendly environment, with increasing oversupply due to rising domestic production and reduced exports from China.
Despite a brief period of price increases in mid-October, these were short-lived, as weak downstream demand and high inventories led to price declines towards the end of the month. Throughout November, Malic acid prices continued their downward trajectory, influenced by inventory destocking, weak demand, and reduced manufacturing activity.
By December, the market remained sluggish, with prices fluctuating as suppliers focused on managing excess stock and adjusting to the economic downturn. Despite slight price recoveries due to tight supply conditions in mid-December, market sentiment remained cautious. Overall, Q4 was marked by price contraction driven by oversupply, limited demand growth, and ongoing economic challenges.
Europe
The overall trend for the fourth quarter of 2024 in the Malic Acid market has been a steady price decline, driven by weak demand, abundant inventories, and lower production costs. Despite a significant price surge in October due to high domestic and export demand, inventory shortages, and production constraints, the market quickly shifted as global economic conditions, particularly in the eurozone, worsened.
By November and December, prices started to decrease due to low domestic consumption, reduced business activity, and oversupply. In Italy, the market saw continued price reductions, with weaker downstream demand and declining raw material costs, particularly Maleic Anhydride, putting downward pressure on pricing. Export demand remained steady but was not sufficient to counteract the bearish sentiment from regional market struggles.
Producers attempted to manage inventories and production, offering discounts to clear stock. The outlook for the Malic Acid market remains negative, with cautious trading and limited recovery potential as the eurozone’s economic outlook remains uncertain. Overall, the market experienced a shift from optimism to a bearish sentiment through Q4 2024.
For the Quarter Ending September 2024
North America
In Q3 2024, the North American Malic Acid market witnessed a notable increase in prices, driven by a confluence of factors. Heightened demand both domestically and internationally played a significant role in pushing prices upward. Supply challenges originating from major exporting regions, coupled with escalating production costs and geopolitical tensions, further fueled the price surge. Market activity intensified due to low inventory levels and increased purchasing ahead of anticipated market disruptions.
However, the prices did decrease at the beginning and at the termination of Q3, but the overall trend showcased a positive trajectory. The weak demand signals from neighbouring regions and subdued trading activity continued to push prices downward. Exporting nations also faced declining prices, adding further pressure on the U.S. market. Lower new orders reduced demand for inputs, leading to shorter supplier lead times for the first time in three months, contributing to the bearish market sentiment.
Overseas buyers remained cautious, purchasing only as needed, which weakened the already soft market. This persistent drop in buying interest and trading activity reflected a pessimistic outlook. The quarter-ending price of Malic acid CFR New York in the USA stood at USD 1833/MT with ana average quarterly inclination of 0.09%, indicating a consistent increasing sentiment in the pricing environment.
Asia Pacific
The Chinese Malic Acid market experienced notable volatility in Q3 2024, characterized by a general decline in prices. The prices recorded at the end of Q3 were USD 1514/MT FOB Shanghai with an average quarterly decline of 2.79%. This bearish sentiment stemmed from weakening demand, oversupply, and economic challenges within China's manufacturing sector. An explosion at Ningbo port on August 9 disrupted operations and impacted raw material supplies.
Q3 showed mixed trends, reflecting a decrease amid fluctuating price stability influenced by evolving supply-demand dynamics. Key factors influencing the market included persistent oversupply due to increased production capacities and aggressive inventory reductions. The fluctuating prices of raw materials, especially Maleic Anhydride, significantly impacted pricing strategies. Demand challenges were evident in the manufacturing sector, reflected by declining PMI figures and persistent deflationary pressures.
While the Logistics Market Index rose to 51.5% in August, indicating improved supply chain efficiency, manufacturing sector challenges and weak consumer confidence persisted. International trade dynamics also played a crucial role, with fluctuations in the yuan impacting export competitiveness and complicated by geopolitical tensions and high freight costs
Europe
Throughout Q3 2024, the Malic Acid market in Europe experienced a period of increasing prices driven by a combination of global and local factors. The market saw significant upward pressure on prices due to supply chain disruptions, rising input costs, and heightened demand across various industries. These factors, such as reduced vessel traffic, port congestion, and fluctuating demand, have contributed to the escalating prices of Malic Acid.
Netherlands, in particular, witnessed the most significant price changes during this quarter. The region experienced notable price fluctuations, reflecting the overall trends seen in the European market. The latest quarter-ending price for Malic Acid CFR Rotterdam in Netherlands stood at USD 2029/MT with an average quarterly inclination of 0.16%, signaling a consistent upward trajectory in pricing.
However, the prices did decrease at the termination of Q3. Lower energy costs have reduced production expenses, while global market shifts have impacted this significant importer. Weak demand from key end-use sectors has led companies to offload excess inventories, creating a market surplus and further driving prices down. Reduced freight and shipping costs have facilitated easier access to Malic Acid, exacerbating the oversupply. Consequently, traders are liquidating their holdings, leading to intensified competition and additional price reductions. Overall, the pricing environment in Europe for Malic Acid in Q3 2024 has been characterized by positive momentum, with prices steadily increasing.
FAQ’s
1. What were the average Malic acid prices across key regions in Q2 2025?
In Q2 2025, Malic acid prices showed a consistent downward trend across all major regions. In North America, prices declined from around USD 1,621 in April to USD 1,563 in June. APAC saw a similar trajectory, with prices dropping from USD 1,454 to USD 1,388. In Europe, FOB Italy prices fell from USD 2,704 to USD 2,589, while FCA Beverage Grade prices remained relatively stable near USD 2,175.
2. What factors influenced the price fluctuations of Malic acid during Q2 2025?
Key drivers included shifting feedstock (Maleic Anhydride) costs, changes in freight and logistics conditions, varying inventory levels, and demand-side volatility across sectors such as food, beverage, and pharma. Temporary supply constraints from China and Germany, currency movements, and seasonal procurement behavior also played a major role.
3. Who are the major producers and exporters of Malic acid globally?
Globally recognized Malic acid producers include Bartek Ingredients (Canada), Thirumalai Chemicals (India), Polynt-Reichhold (Italy), and Fuso Chemicals (Japan). China remains a key exporter, especially to APAC and North America, with production facilities concentrated in Jiangsu, Zhejiang, and Shandong provinces.
4. What is the demand outlook for Malic acid heading into Q3 2025?
The demand outlook remains cautious. While some short-term recovery signs emerged in late June, overall consumption in core sectors stayed muted. Without a clear rebound in end-user activity or a sustained shift in inventory dynamics, the market is expected to stay range-bound with limited upward pressure unless macro or trade conditions shift significantly.
