In the fourth quarter of 2023, Glyoxal prices in the USA rose due to increased demand and supply dynamics. Although feedstock Ethylene glycol prices declined in production, this did not significantly impact Glyoxal pricing. The region's supply chain faced challenges, including concerns over overall supply levels.
The downstream construction sector, a major Glyoxal consumer, showed little improvement compared to the previous month, keeping demand moderate and stable. According to Fred's data, the Producer Price Index (PPI) for cement remained unchanged at 240.35 in October, affecting goods consumption in November. Despite the stable PPI for cement, Glyoxal prices increased due to a significant rise in production costs.
Furthermore, private sector output expansion accelerated, marking the fastest growth since July, which further propelled Glyoxal prices through October and November. Globally, Glyoxal prices rose independently of downstream demand, driven primarily by sustained high production costs and specific supply chain challenges, shaping the market dynamics in the fourth quarter of 2023.
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During the fourth quarter of 2023, the Glyoxal market experienced a significant shift, with prices decreasing after a consistent rise in the previous quarter. In Germany, merchants adjusted operations based on existing stock levels, which led to a reduction in new orders. Downstream sectors such as cement, paints and coatings, and textiles saw a major decline in activity toward the end of the quarter, with sharp drops across all areas. The manufacturing Purchasing Managers' Index (PMI) in Germany stayed below the threshold limit, reflecting low Glyoxal consumption during this period.
Domestic key players tried to raise product prices due to long-standing high production costs and inflation, which eased as demand fell in both domestic and international markets in November. Nonetheless, the last month of the quarter saw a significant decrease in Glyoxal prices in Germany, mainly due to lower demand in the downstream construction industry amid economic challenges and subdued purchasing. Additionally, security concerns increased in mid-December following attacks on commercial vessels in the southern Red Sea, raising global fears about potential supply chain disruptions. This crisis, occurring just before the Christmas holidays, notably affected market dynamics.
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Glyoxal is produced by oxidation of organic compounds.
Although the organic compounds are present in low volume in the atmosphere, their presence can trigger the formation of pollutants like organic aerosol and ozone.
Increase in application use, disposable income, and change in lifestyle of people have contributed to the market growth in the bygone years and will continue to do so during the forecast period.The glyoxal industry is segmented by application that comprises leather, textiles, resin & polymers, oil & gas, cosmetics, and paper packaging.
Oil & gas and cosmetics segment account for a significant market share owing to frequent demand as an enhancer to boost end- products.Product segmentation for glyoxal market comprises industrial grade and pharmaceutical grade.
Asia-Pacific accounts for a significant market share due to rise in demand from cosmetics and personal care.
Urbanization factors have been driving the market developments in the U.S. owing to versatile use of glyoxal in various industries.
COVID-19 Impact Analysis on Glyoxal Market report published by Value Market Research provides a detailed market analysis comprising market size, share, value, growth and trends for the period 2020-2027.
Moreover, this market report also covers regional and country markets in detail.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Glyoxal Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/glyoxal-market/download-sampleMarket DynamicsGlyoxal demand is predicted to rise in the following years due to growth in numerous end-use industries such as textiles, paper, cosmetics, and oil and gas.
Because of its propensity to bind cellulose, glyoxal is primarily utilized in the textile industry to avoid cellulosic swelling.
Governments worldwide are concentrating on lowering carbon emissions by enacting various policies and standards, resulting in the rapid increase in the implementation of organic compounds across various industries.
Furthermore, raw material availability may impact overall glyoxal production, thus impeding the ongoing supply of glyoxal.The report covers Porter’s Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis.
