Chemicals Market Estimates And Price Assessment

Deliverable Overview

The deliverable provides an overview of market estimates and price assessment of the chemicals market. Chemical products under the report scope include adipic acid, glycolic acid, methyl salicylate, salicylic acid, dioctyl terephthalate, benzaldehyde, muonic acid, and pyrogallol.

Market Trend Insights

Adipic acid is a versatile white crystalline powder that is highly soluble in both water and organic solvents. It is primarily used in the production of nylon, polyurethane, and polyester resins, making it an essential ingredient in various industries. Additionally, adipic acid finds application as a food additive and as a precursor for pharmaceuticals and lubricants.

Another notable chemical is glycolic acid, the smallest alpha-hydroxy acid (AHA) known for its excellent water solubility. This colorless and odorless liquid is extensively used in the cosmetics and skincare industry, particularly in chemical peels, exfoliating creams, and anti-aging products. Its versatility and effectiveness have made it a sought-after ingredient in the beauty industry.

Methyl salicylate, also known as wintergreen oil, possesses a characteristic minty odor. It is highly soluble in alcohol and essential oils, making it widely utilized in the pharmaceutical and personal care industries. With its analgesic properties, methyl salicylate serves as a valuable ingredient in pain relief products. It is also employed as a flavoring agent in food and beverages, adding a unique taste to various products.

Salicylic acid, on the other hand, is a white crystalline powder with diverse applications. While sparingly soluble in water, it readily dissolves in alcohol and other organic solvents. Salicylic acid finds extensive use in skincare products, particularly in acne treatments and exfoliants. Its effectiveness in promoting skin renewal has made it a staple ingredient in the beauty industry. Furthermore, salicylic acid is utilized in pharmaceuticals, agrochemicals, and the food industry.

Dioctyl terephthalate (DOTP) is a clear and colorless liquid with excellent heat stability, electrical properties, and resistance to cold temperatures. Its primary application lies in the production of flexible polyvinyl chloride (PVC) products. These include cables, wires, flooring, and automotive parts. DOTP serves as a plasticizer, enhancing the flexibility and durability of PVC materials.

Overall, these chemicals, such as adipic acid, glycolic acid, methyl salicylate, salicylic acid, dioctyl terephthalate, benzaldehyde, muconic acid, and pyrogallol, possess diverse properties and applications across various industries. Their market demand is influenced by factors such as industrial growth, consumer preferences, and environmental considerations.

Price Trend Insights

The chemicals market is characterized by price fluctuations, and different compounds have shown varying trends. Adipic acid, a key ingredient in nylon fibers and polyurethane foams, has experienced volatility due to factors like raw material costs, supply and demand dynamics, and geopolitical events affecting global trade. However, a collaboration between Toray company and Japan's National Institute of Advanced Industrial Science and Technology and RIKEN led to the development of 100% bio-based adipic acid for sustainable PA66 production.

According to Grand View Research, the global production of nylon in 2017 amounted to USD 28.52 billion. Over the subsequent five years, this figure witnessed substantial growth, reaching a total of USD 36.69 billion in 2022. This significant increase of approximately 69% in the value of the global nylon market played a crucial role in fueling the demand for adiponitrile across the world.

On the other hand, glycolic acid has seen a steady increase in prices due to its wide-ranging applications and growing demand in industries such as cosmetics, personal care, and textiles. Limited production capacities have contributed to the upward price trend.

Methyl salicylate, with applications in flavorings, fragrances, and as an anti-inflammatory agent, has experienced price fluctuations due to changes in raw material availability and market demand. Similarly, salicylic acid has consistently increased in price due to rising demand, limited production capabilities, and fluctuations in raw material costs.

In contrast, dioctyl terephthalate (DOTP), a plasticizer used in PVC production, has shown relatively low-price volatility. This can be attributed to factors such as changes in feedstock prices, which directly impact the cost of producing DOTP. Fluctuations in the prices of terephthalic acid and 2-ethylhexanol, the raw materials for DOTP, have a limited effect on its overall price compared to other chemicals.

Benzaldehyde, an ingredient in fragrances, dyes, and flavors, has witnessed high price fluctuations due to its reliance on the availability and cost of its raw materials. Muconic acid, used in polymers, resins, and coatings, has experienced an upward price trend driven by limited supply, increasing demand, and changes in raw material costs. Lastly, pyrogallol, used in pharmaceuticals, photography, and chemicals, has seen price fluctuations influenced by feedstock availability, market demand, and regulatory developments. Overall, the chemicals market demonstrates diverse price trends influenced by factors such as raw material costs, supply and demand dynamics, and regulatory changes, highlighting the complexity of price analysis in this industry.

Scope Details