For the Quarter Ending September 2024
North America
In the third quarter of 2024, the North American Biotin market exhibited a fluctuating pricing trajectory, influenced by a variety of factors affecting different sectors. The USA, in particular, experienced the most pronounced price changes, resulting in an unstable pricing environment marked by notable fluctuations throughout the quarter.
Initially, prices declined due to a combination of factors that created downward pressure on the market. One major influence was the inflation rate, which had surged beyond 9% but began to cool significantly as the quarter progressed. This reduction in inflation led to lower overall overhead costs for businesses, allowing them to pass on these savings to consumers in the form of reduced Biotin prices. However, as the quarter drew to a close in September, a shift occurred, and prices began to surge. This increase was fueled by a confluence of economic and logistical factors. Consumer confidence rose, driven by improved perceptions of the economy and inflation, despite ongoing concerns about the labor market. This newfound optimism resulted in heightened demand for Biotin, placing upward pressure on prices.
In response to these shifting dynamics, market participants proactively increased their inventories, anticipating a rise in future demand and seeking to mitigate the potential impacts of supply chain challenges. As a result, the quarter concluded with Biotin 98% Pure priced at USD 193,000 per metric ton on an FOB Illinois basis in the USA.
Asia Pacific
During the third quarter of 2024, the Biotin market in the APAC region exhibited a mixed pricing trend influenced by a variety of factors. Initially, prices experienced a decline in July and August, primarily due to weak consumption both domestically and internationally. The Chinese market, in particular, faced a downturn early in the quarter, struggling with limited support from downstream sectors. Furthermore, escalating freight costs resulting from disruptions in global maritime traffic significantly dampened international demand, creating additional pressure on pricing. However, as the quarter progressed and approached its conclusion, prices began to rebound. This resurgence was fueled by robust demand from end-user industries and effective inventory management strategies employed by manufacturers and suppliers. Additionally, global economic recovery efforts played a critical role in driving prices upward. As industries adjusted to the ongoing conflict in the Red Sea, international demand for Biotin began to recover, further contributing to the positive momentum in pricing. In China specifically, the market experienced notable price fluctuations throughout the quarter, reflecting the sensitive interplay between supply and demand dynamics. This volatility underscored the challenges faced by market participants in navigating an ever-changing landscape. By the end of the quarter, the price for Biotin reached USD 138880 per metric ton for Biotin 98% Pure FOB Qingdao basis, signaling a more optimistic outlook for the region's pricing environment moving forward.
Europe
Throughout the third quarter of 2024, the Biotin pricing landscape in the European region displayed a diverse trend shaped by several key factors. Initially, prices experienced a decline, largely attributed to weaker-than-expected demand in the German market, especially within the nutraceutical and healthcare sectors. In light of this lack of demand, market participants adopted a cautious approach, opting to maintain substantial inventory levels to meet the current consumption needs in Germany. However, as September approached, a noticeable shift occurred, with prices beginning to rise. This uptick was driven by a combination of strong demand from end-user industries, strategic inventory management practices by companies preparing for potential disruptions, and favorable macroeconomic conditions. The ongoing conflict in the Red Sea complicated matters further by disrupting global maritime traffic, which led to logistical challenges and restricted the supply of Biotin. These supply constraints added upward pressure on prices as market dynamics evolved. In addition, improvements in consumer sentiment, particularly in Germany, played a vital role in revitalizing demand and cultivating a more optimistic market outlook. Despite the various challenges faced by the industry, companies proactively worked to enhance their stockpiles in anticipation of potential shipping delays, thereby supporting the upward trend in prices. As the third quarter drew to a close, Biotin 98% Pure was priced at USD 157,000 per metric ton on a CFR Hamburg basis in Germany, reflecting an overall positive pricing environment and a sense of stability in market sentiment.
For the Quarter Ending June 2024
North America
The second quarter of 2024 has been marked by a consistent decline in Biotin prices in the North America region, driven primarily by a confluence of enduring economic challenges. Supply chain disruptions, excess inventory levels, and weakening demand from end-user sectors have been significant factors exerting downward pressure on market prices. In addition, persistent inflationary conditions have led to more cautious consumer spending, further exacerbating the diminishing demand. The Federal Reserve’s stance on maintaining high interest rates to combat inflation has also played a crucial role in reducing consumer purchasing power, contributing to the overall negative sentiment in the Biotin market.
Focusing on the USA, the country has witnessed the most pronounced price changes within the region. The overall trend has been a steady decline, influenced by subdued market sentiments and cautious spending behaviors among consumers and industries alike. Seasonality factors did little to buoy demand, with no significant upticks observed throughout the quarter. The quarter-on-quarter analysis shows a -5% decline from Q1 2024, underscoring the persisting weak demand and ample supply.
Concluding the quarter, Biotin 98% Pure FOB Illinois was priced at USD 200000 per metric ton. The pricing environment for Biotin has been decidedly negative, characterized by an unrelenting decline influenced by economic and market factors that show no immediate signs of reversal.
APAC
Q2 2024 has been a challenging period for the Biotin market in the APAC region, marked by a consistent decline in prices. The downward trend is primarily attributed to sluggish demand from downstream sectors, an oversupply in the market, and elevated financial pressures. The persistent economic slowdown exacerbated by geopolitical tensions and trade barriers further intensified these factors. Notably, market participants were observed offloading their inventories at lower prices to manage supply chains efficiently amidst uncertain market conditions.
China, the focal point of significant price changes, witnessed a steep -29% decline compared to the same quarter last year, and a -5% drop from the previous quarter in 2024. This drastic reduction underscores the weak market sentiments and the struggle to stimulate demand effectively. The seasonal downturn during this period, coupled with weak consumer confidence, played a critical role in the consistent fall in prices.
The quarter ended with Biotin 98% Pure FOB Qingdao priced at USD 138000/MT, reflecting a bearish market environment. This quarter's pricing environment has been overwhelmingly negative, driven by an oversupply and subdued demand across the APAC region, with China bearing the brunt of these challenges. The overall trend suggests a persistent struggle for recovery in the Biotin market, necessitating more robust and coordinated economic measures to stabilize and potentially reverse the downward trajectory.
Europe
In Q2 2024, the Biotin market in Europe experienced a consistent decline in prices, reflecting a predominantly negative pricing environment. This quarter witnessed several critical factors contributing to the downward trend. The subdued demand from downstream industries, coupled with cautious consumer spending amidst inflation concerns, played a pivotal role in the price reduction. The market faced an oversupply of Biotin due to proactive stockpiling by purchasers, driven by fears of potential supply chain disruptions. Additionally, the strengthening of the Euro against the USD lowered import costs, adding further pressure on prices.
Focusing specifically on Germany, which saw the most significant price changes, Biotin prices were heavily impacted by a stagnant economy and dampened business sentiment. The overall trend showcased a persistent decrease in prices, influenced by the broader economic challenges and a lack of substantial demand from end-users. Comparing year-over-year data, there was a stark -27% decrease in prices from Q2 2023, underscoring the significant downturn in market conditions. As the quarter concluded, the price of Biotin 98% Pure CFR Hamburg stood at USD 157500 per metric ton, reflecting the persistent bearish trend in the market. Overall, the pricing environment for Biotin in Germany during this quarter was decidedly negative, driven by multiple economic pressures and supply-demand imbalances.
For the Quarter Ending March 2024
North America
In the first quarter of 2024, the North American region witnessed a notable decrease in Biotin prices, driven by various factors shaping the market dynamics. Weak demand from both domestic and international markets, particularly in key sectors like pharmaceuticals, cosmetics, and the nutraceutical industry, has exerted considerable downward pressure on prices.
In the USA, the primary market for Biotin in the region, price fluctuations have been particularly pronounced, with a consistent negative trend leading to significant declines. A key contributing factor to this decline is the prevailing pessimism in the business environment, which has cast uncertainty over the future of the economy. This uncertainty has translated into reduced demand from end-user industries, thereby driving Biotin prices downward. Moreover, efforts to mitigate rising prices have compounded the situation. As the Federal Reserve implements higher interest rates to counter inflationary pressures, consumers have felt the strain on their finances, resulting in decreased purchasing power and further suppressing demand for Biotin in the USA market. Additionally, manufacturers and suppliers in the market have maintained elevated levels of Biotin stocks, surpassing the diminished demand and exacerbating the downward price trend.
As the quarter draws to a close, the price for Biotin in the USA market stands at USD 211,500 per metric ton of Biotin 98% Pure FOB Illinois. Overall, the first quarter of 2024 has been characterized by a negative pricing environment for Biotin in North America, marked by significant price declines.
Asia Pacific
In the first quarter of 2024, the pricing dynamics of Biotin in the APAC region, particularly in China, exhibited a nuanced trend influenced by various factors. The quarter began with a noticeable increase in demand from downstream sectors and a surge in export orders, resulting in a modest uptick in prices. Market sentiment remained positive, buoyed by steady demand from both domestic and international markets. As February progressed, prices continued to climb, primarily driven by limited inventories. The festivities surrounding the Spring Festival led to the temporary closure or reduced operation of numerous factories, disrupting production activities and creating a supply shortage in the market. However, towards the end of the quarter, prices began to decline due to insufficient domestic demand and a lack of inquiries from overseas markets. Positive developments such as decreased input costs for manufacturers also contributed to reduced production expenses, further influencing the pricing dynamics of Biotin. The Biotin 98% Pure FOB Qingdao price in China for the first quarter of 2024 was recorded at USD 149,500/MT, reflecting the fluctuations and nuanced trends observed throughout the period.
Europe
During the first quarter of 2024, the pricing dynamics of Biotin in Europe unfolded amidst a complex landscape influenced by a multitude of factors. Initially, prices experienced a slight increase driven by geopolitical tensions, logistical challenges, and limited inventories. Stable demand from various end-sectors also played a role in shaping market dynamics. Concurrently, prolonged disruptions in the Red Sea complicated trade routes between Asia and Europe, leading to increased freight costs that impacted Biotin pricing, particularly in Germany. However, as the quarter progressed, prices underwent a moderate decline in February and March. This downturn can be attributed to the market grappling with persistently weak performance in new industrial orders. Insufficient domestic demand, coupled with a relatively high backlog, contributed to the downward trajectory of Biotin prices in the European region. Additionally, this decrease in demand, combined with the central bank's decision to maintain existing interest rates, further complicated the market environment by placing additional strain on consumers' purchasing power. In response to these challenges, market suppliers and traders endeavored to manage excess inventories amidst sluggish domestic demand, navigating through the complexities of the evolving market landscape. At the end of the quarter, the price of Biotin 98% Pure CFR Hamburg in Germany stood at USD 167,800/MT, reflecting the dynamic and multifaceted nature of the pricing environment throughout the period.
For the Quarter Ending December 2023
North America
The North American Biotin market witnessed a decline in prices during Q4 2023, settling at USD 278600/MT FOB Illinois in the USA. The market was influenced by several factors, including subdued demand from end-user healthcare and pharmaceutical industries and the destocking of inventories by market participants. The demand for Biotin showed a lackluster performance due to enduring effects of inflation and heightened interest rates, which in turn, diminished the purchasing power of end-consumers.
The overall market dynamics remained on the lower side throughout the quarter. Though the continuous availability of Biotin in the US market was sustained due to lower domestic and overseas demand, the market situation remained bearish. The US economy suffered as a result of increasing interest rates, the invasion of Ukraine, and deepening geopolitical schisms, leading to additional uncertainty due to Israel's conflict with Hamas terrorists.
Despite the decline in prices during Q4 2023, prices are expected to surge in the beginning of FY24. The price percentage change from the current to the previous quarter was -7%, while the price percentage comparison of the first and second half of the quarter showed no change.
APAC
Biotin prices in the APAC region during Q4 2023 were impacted by various factors. The market witnessed a decline in demand due to sluggish economic growth in key nations, financial fragilities, and geopolitical tensions. The abundance of supply in the market coupled with a decrease in new orders and purchases from downstream industries further pushed prices downwards. China, which experienced a second consecutive contraction in its manufacturing activity in November, witnessed a decline in demand from end-user healthcare and pharmaceutical industries, leading to a moderate supply of Biotin in the market. The trend, seasonality, and correlation price percentage in China during Q4 2023 were negative, with a -35% change in prices from the same quarter last year and an -18% change from the previous quarter. The price percentage comparison of the first and second half of the quarter in China was -5%. The latest/quarter-ending price of Biotin 98% Pure FOB Qingdao in China for Q4 2023 was USD 150000/MT. Overall, the decline in demand, surplus supply, and economic slowdown were the primary reasons for the downward trend in Biotin prices during Q4 2023 in the APAC region.
Europe
The Biotin market in Europe experienced a challenging fourth quarter of 2023, with several factors impacting prices. Firstly, persistent high inflation, driven by rising food and energy costs, placed a strain on consumers' purchasing power, leading to reduced demand for Biotin. Additionally, the European Central Bank's series of interest rate hikes further curtailed market demand and contributed to lower Biotin prices. Germany, the largest economy in Europe, was particularly affected, with business activity declining and industrial output slowing down. The country also saw a decrease in annual inflation, aligning with the ECB's target of 2%. Furthermore, the Euro appreciated against the USD, resulting in more affordable imports and ensuring an ample supply of Biotin in the German market. Overall, the Biotin market in Europe witnessed a bearish trend, with weak demand and adequate supply. Market participants focused on destocking and clearing out inventories. As for Germany, the prices of Biotin decreased by -14% from the previous quarter, reflecting the overall downward trend in the European market. The latest price of Biotin 98% Pure CFR Hamburg in Germany for the current quarter is USD 168500/MT.
