In the first and second quarters of 2023, the Asian Pacific market for glyoxylic acid experienced a decline in prices due to reduced demand from cosmetics and haircare industries. Rising energy costs provided limited support amidst the economic downturn. In Europe, prices initially fell due to a declining cosmetic market and inflation, but they improved in the second quarter supported by supply chain disruptions and increased demand. However, in North America, glyoxylic acid prices declined in both quarters due to imbalanced supply and demand, lower consumer buying potential, and reduced exports. These market dynamics had significant impacts on the price trends of glyoxylic acid in each region.
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Definition
Glyoxylic acid is a colorless liquid with a pungent odor and possesses several important chemical properties. Glyoxylic acid is highly reactive, acting as an aldehyde due to the presence of a carbonyl group. It can undergo various chemical reactions, making it a valuable intermediate in organic synthesis. It is also a strong reducing agent and can form stable complexes with metal ions. Its versatility and reactivity contribute to its wide range of applications in the pharmaceutical, agrochemical, textile, and cosmetic industries.
Key Details About the Glyoxylic 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 Glyoxylic 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 Glyoxylic Acid Price Trends, including India Glyoxylic Acid price, USA Glyoxylic 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 Glyoxylic Acid Price Trend:
Glyoxylic acid has diverse industrial uses due to its reactivity and chemical versatility. It serves as a key intermediate in the synthesis of various chemicals, including amino acids, pharmaceuticals, and agrochemicals. In the pharmaceutical industry, it is employed as a starting material for the production of antihypertensive drugs, antiretroviral agents, and antifungal medications. In the agrochemical sector, glyoxylic acid is utilized in the synthesis of herbicides and insecticides. Its ability to fix dyes on fabrics makes it valuable in the textile industry. Additionally, glyoxylic acid finds application in cosmetic formulations, specifically in hair straightening and smoothing products. Its significance as a chemical building block contributes to its broad use in industrial processes.
Key Players:
- Akema S.r.l
- Zhinglan Industry Co Ltd
- Marcelo Roberto Pressi
- STAN Chemical Co Ltd
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