In Q1 2023, nonanoic acid prices in Asia remained stable initially due to consistent demand but later declined due to reduced raw material costs. However, in Q2, prices surged due to increased demand from downstream industries, supply chain disruptions caused by Russia-Ukraine crises, and extreme weather conditions. In Europe, Q1 witnessed price declines due to lower raw material and freight costs and sluggish downstream industry demand. Q2 saw a price surge driven by international inquiries, growing domestic demand, and supply chain disruptions. North America had price stability in Q1 but faced a decline in Q2 due to falling raw material costs and increased supply. Q2 saw price growth due to improved buyer purchasing power and higher procurement rates by downstream industries, aligning with trends seen in Asia and Europe.
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Definition
Nonanoic acid, also known as pelargonic acid, is a nine-carbon straight-chain organic carboxylic acid. It appears as a colorless to pale yellow liquid with a pungent, rancid odor. Nonanoic acid is sparingly soluble in water but mixes well with organic solvents. It possesses properties like high reactivity, making it valuable in the synthesis of various chemical compounds, including esters and plasticizers. Additionally, it is used as an herbicide in agriculture due to its ability to disrupt plant cuticles, effectively controlling weeds. Nonanoic acid plays a role in the food industry as a flavoring agent and is also utilized in the manufacturing of fragrances and pharmaceuticals.
Key Details About the Nonanoic 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 Nonanoic 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 Nonanoic Acid Price chart, including India Nonanoic Acid price, USA Nonanoic 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 Nonanoic Acid Price Trend:
Nonanoic acid, also known as pelargonic acid, finds various industrial applications due to its versatile properties. In the chemical industry, it serves as a precursor for the production of esters, which are essential in the formulation of fragrances and flavors. Additionally, it is utilized in the manufacture of plasticizers, dyes, and pharmaceuticals. In agriculture, nonanoic acid is employed as a herbicide for weed control, particularly in organic farming. Its ability to break down waxy plant cuticles makes it effective for this purpose. Furthermore, nonanoic acid is utilized in the food industry as a food additive, providing acidity and flavor to certain food products. Its multifaceted utility underscores its importance across various industrial sectors.
Key Players:
- Central drug Huse
- Tokyo Chemical Industry
- Croda International Plc
- Glentham Life Sciences Limited
- OQ Chemicals GmbH
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