In the North American region, Succinic Acid prices witnessed a monthly decrease of 2.7%, during mid-Q3 2024. The market players revised their Succinic Acid quotations negatively to improve market offtakes. In the USA, the Consumer Price Index for All Urban Consumers (CPI-U) rose 0.2% in August, matching July's increase. Over the past year, the CPI increased by 2.5%, the smallest 12-month rise since February 2021. The food index saw a smaller 0.1% gain, while the non-alcoholic beverages index fell 0.7% in August after rising 0.5 percent in July. It indicated a decrease in demand for Succinic Acid used in flavoring agents during the month.

However, Succinic Acid exports from Asian suppliers remained robust in August 2024, with the Far East Exports index achieving the highest growth among all indices, although the rate of increase slightly moderated from July. This sub-index is unique in showing a year-over-year rise, fuelled by a surge in exports from Japan and South Korea to the US. Concurrently, long-term shipping rates from Japan and South Korea to the US West Coast have surged significantly. Imports also increased, and long-term shipment rates into North America saw the most substantial growth since mid-2022, although they are still below the peak levels observed earlier in the year. Additionally, the cost support for Succinic Acid production in the producing countries has softened due to stable supplies of feedstock Benzene and n-butanol, negatively impacting production costs. According to the ChemAnalyst data sources, the Succinic Acid CFR Texas quotations in the USA witnessed USD 1820/MT at the end of August 2024.

Meanwhile, Succinic Acid demand remained average in the pharmaceutical industries. On the positive side, funding in the pharma and healthcare sector soared by 382% to USD 135 million, up from USD 28 million in July and representing a 20% increase from the USD 112 million raised in August 2023. Most of this funding—62.2%—went into late-stage investments, while early-stage and seed-stage rounds accounted for 31.5% and 6.3%, respectively. Additionally, the US Healthcare sector emerged as a standout performer in August 2024, with business activity growing at its fastest rate since December 2023. Financials and Industrials also showed strong output expansion, with Industrials experiencing their highest growth in 27 months, driven by rising demand for professional services.

Anticipations are that the Succinic Acid price trend might alter, and prices would increase in the North American market towards the end of the third quarter of 2024. The anticipated rebound in feedstock n-butanol prices amid a decline in production rates in China would impact the feedstock availability and Succinic Acid production rates at Asian manufacturing units. Consequently, Succinic Acid exports would be reduced by Asian exporters. Simultaneously, the Hurricane would hamper the import rates in the region and market players would raise their quotations amid insufficient availability of supplies.