Benzoic Acid Prices In USA

• United States: 1155 USD/MT

The price of benzoic acid in the United States for Q4 2023 reached 1155 USD/MT in December.

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 Benzoic Acid Price Chart. Through comprehensive Benzoic Acid 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 Benzoic Acid 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 December 2023:

• United States: 1155 USD/MT
• 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.

Request For a Sample Copy of the Report:  https://www.imarcgroup.com/benzoic-acid-pricing-report/requestsample

Benzoic Acid Price Trend- Q4 2023

The benzoic acid market witnessed significant fluctuations in the fourth quarter of 2023, especially in North America. A notable rise in demand from various downstream sectors, fueled by diverse end-user industries, tightened supply and led to price increases. This spike in demand, coupled with rising input costs, particularly for crucial raw materials like Toluene, further fueled the upward trajectory of prices. Additionally, economic conditions in the United States, including inflationary pressures and escalating energy prices, influenced market sentiments during this period.

However, towards the end of October, prices began to decline, with the USA following suit in this downward trend. Factors contributing to this included reduced international demand leading to lower export prices and excess inventory among suppliers, highlighting challenges in stock management. Moreover, the decline in toluene prices, a vital raw material for benzoic acid production, intensified the broader downward trend in benzoic acid prices.

Benzoic Acid Industry Analysis

Meanwhile, in the APAC region, the benzoic acid market faced notable challenges during the fourth quarter of 2023, marked by significant price fluctuations. Factors influencing market dynamics included an increase in demand at the beginning of the quarter, followed by a decrease in demand in November, driven by the inactive economic recovery in China. However, as November commenced, there was a notable decrease in demand, leading to excess inventory and a subsequent price decline. This decline was further exacerbated by the continuous decrease in toluene prices and supply constraints observed among manufacturers.

In Europe, the benzoic acid market encountered challenges that impacted pricing. Initially, there was a significant decrease in demand, resulting in excess inventory and price reduction. As December approached, the market took an unforeseen turn, leading to further price decline due to reduced raw material costs and adjustment of inventory levels. Overall, these factors contributed to a challenging quarter characterized by diminished demand and oversupply, resulting in a decline in 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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