Benzoic Acid Prices In USA
- United States: 1155 USD/MT
The benzoic acid prices in the USA for Q4 2023 reached 1155 USD/MT in December due to changing economic conditions, rising energy costs, and a shift in demand.
The latest report by IMARC Group, titled “Benzoic Acid Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” provides a thorough examination of the Benzoic Acid Prices. This report delves into the price of Benzoic Acid globally, presenting a detailed analysis, along with informative Price Chart. Through comprehensive Price analysis, the report sheds light on the key factors influencing these trend. Additionally, it includes historical data to offer context and depth to the current pricing landscape. The report also explores the Demand, analyzing how it impacts Industry dynamics. To aid in strategic planning, the price forecast section provides insights into price forecast, making this report an invaluable resource for industry stakeholders.
Benzoic Acid Prices Analysis
- China: 1065 USD/MT
- Netherlands: 1170 USD/MT
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The study delves into the factors affecting benzoic Acid price variations, including alterations in the cost of raw materials, the balance of supply and demand, geopolitical influences, and sector-specific developments.
The report also incorporates the most recent updates from the market, equipping stakeholders with the latest information on market fluctuations, regulatory modifications, and technological progress. It serves as an exhaustive resource for stakeholders, enhancing strategic planning and forecast capabilities.
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Benzoic Acid Price Trend-Last Quarter
In the fourth quarter of 2023, there were notable swings in the benzoic acid market, particularly in North America. Significant increases in demand from a range of downstream industries, driven by a variety of end-user industries, resulted in a tightening of supply and an increase in price. Prices continued to rise as a result of this surge in demand and growing input costs, especially for essential raw ingredients like toluene.
Furthermore, at this time, market mood was impacted by US economic conditions, such as rising oil costs and inflationary pressures. However, prices started to drop near the end of October, and the USA joined this downward trend. This was caused by a number of factors, such as decreased demand abroad, which resulted in lower export prices, and excess inventory among suppliers, which brought attention to stock management issues.
Benzoic Acid Industry Analysis
In the meanwhile, the benzoic acid market in the Asia-Pacific area saw considerable difficulties in 2023’s fourth quarter, which was characterized by sharp price swings. The lethargic economic recovery in China was one of the factors driving the decline in demand in November, which followed an increase in demand at the start of the quarter. But once November got underway, demand started to diminish noticeably, which resulted in surplus inventories and a concomitant drop in price.
Constraints on supply among manufacturers and the ongoing reduction in toluene prices contributed to this decline. Benzoic acid prices were affected by market problems in Europe. At first, demand was far lower than supply, which led to surplus inventory and lower prices.
Regional Price Analysis:
- Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand
- Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece
- North America: United States and Canada
- Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru
- Middle East & Africa: Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco
Note: The current country list is selective, detailed insights into additional countries can be obtained for clients upon request.
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