Fumaric acid prices followed diverse trends in different regions during the first half of 2023. In Asia, prices initially declined due to lower feedstock prices but later found support from reduced supply caused by manufacturing unit shutdowns. However, demand slowdown in the second quarter led to stockpiling and decreased production. Europe saw an increase in prices in the first quarter due to supply-demand balance and higher costs but experienced a decline in the second quarter due to weak demand and ample product supply. North America witnessed an initial price rise due to higher feedstock costs but faced disruptions in supply and demand dynamics, leading to a subsequent price decline affected by factors such as decreasing phenol prices and rising inflation rates.
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Definition
Fumaric acid is a white, crystalline solid that is highly soluble in water and alcohol. Fumaric acid has a sour taste and is commonly used as a food acidulant and flavor enhancer in the food and beverage industry. It is non-toxic and biodegradable, making it environmentally friendly. Moreover, fumaric acid is used as a chemical intermediate in the synthesis of various chemicals, pharmaceuticals, and resins due to its unique properties and reactivity.
Key Details About the Fumaric Acid Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on Fumaric Acid in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as Excel files that can be used offline.
The Fumaric Acid Price chart, including India Fumaric Acid price, USA Fumaric Acid price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
Industrial Uses Impacting the Fumaric acid Price Trend:
Fumaric acid has several industrial uses due to its versatile properties. In the food and beverage industry, it serves as a food acidulant and flavor enhancer, adding a sour taste to various products. As a chemical intermediate, fumaric acid finds application in the production of pharmaceuticals, resins, and other chemicals. In the pharmaceutical sector, it is used in the formulation of certain medications. Fumaric acid is also employed in the manufacturing of unsaturated polyester resins, which are utilized in the production of fiberglass reinforced plastics and coatings. Additionally, it serves as a pH adjuster and acidulant in cosmetic and personal care products. Its broad industrial applications make it a valuable compound in various sectors.
Key Players:
- Bartek Ingredients Inc
- XST Biological Co. Ltd
- Changmao Biochemical Engineering Company Limited
- Fuso Chemical Co. Ltd
News and recent development:
Shionogi & Co., Ltd., a Japanese pharmaceutical company, announced that the U.S. Food and Drug Administration (FDA) granted Fast Track designation for their investigational COVID-19 oral antiviral, Ensitrelvir (Generic name: Ensitrelvir fumaric acid). Ensitrelvir is an oral antiviral agent that suppresses the replication of SARS-CoV-2 by inhibiting the viral 3CL protease. It recently received emergency regulatory approval in Japan and is under investigation outside Japan. Shionogi conducted Phase 3 clinical studies in Japan, South Korea, and Vietnam, with additional studies planned to evaluate its safety and efficacy in various COVID-19 patient populations.
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