Benzoic Acid Excipient Prices June 2024
Product
|
Category |
Region |
Price |
Benzoic Acid Excipient |
Pharma Excipients |
USA |
1,817 USD/MT |
Benzoic Acid Excipient |
Pharma Excipients |
China |
1,512 USD/MT |
Benzoic Acid Excipient |
Pharma Excipients |
Germany |
1,719 USD/MT |
During Q2 2024, benzoic acid excipient prices in the USA reached 1,817 USD/MT. This quarter showed an upward trajectory for benzoic acid excipient in the country. Seasonality was negligible, with continuous demand and constrained supply serving as the primary drivers.
In China, the prices for benzoic acid excipient reached 1,512 USD/MT during the second quarter of 2024, as the market witnessed absolute positive trend. This can be attributed to several factors like currency volatility, increased shipping costs, and escalated downstream purchasing. Consistent demand from the downstream industries is also responsible for this trend in the country.
The price trend for benzoic acid excipient in Germany reached 1,719 USD/MT for Q2 2024. The market witnessed steady increase in the prices of benzoic acid excipient on account of limited product availability, lowered regional demand, and increased import costs.
Benzoic Acid Excipient Prices March 2024
Product
|
Category |
Region |
Price |
Benzoic Acid Excipient |
Pharma Excipients |
USA |
1,747 USD/MT |
Benzoic Acid Excipient |
Pharma Excipients |
China |
1,469 USD/MT |
Benzoic Acid Excipient |
Pharma Excipients |
Germany |
1,641 USD/MT |
During Q1 2024, benzoic acid excipient prices in the USA reached 1,747 USD/MT in March. The prices of the product experienced fluctuations due to geopolitical tensions and increased costs of raw materials. Import momentum was affected in the country, as plants closed in China.
In the first quarter of 2024, benzoic acid excipient prices in China remained on an upward trend with minor fluctuations. The quarter ended with benzoic acid excipient priced at 1,469 USD/MT in March. The prices declined, as merchants stockpiled the product, along with lowered purchasing activity.
During Q1 2024, benzoic acid excipient prices in Germany reflected the path of its trading countries, mainly China in the Asia-Pacific region. The quarter ended with benzoic acid excipient priced at 1,641 USD/MT. In general, prices decreased with the last month of the quarter seeing a minor increase.
Benzoic Acid Excipient Prices June 2023
Product
|
Category |
Region |
Price |
Benzoic Acid Excipient |
Pharma Excipients |
USA |
1680 USD/MT |
Benzoic Acid Excipient |
Pharma Excipients |
China |
1360 USD/MT |
Benzoic Acid Excipient |
Pharma Excipients |
Germany |
1586 USD/MT |
The price of benzoic acid excipient in USA for Q2 2023 reached 1680 USD/MT in June. The prices rose because of different weather conditions. Higher temperatures in some regions accelerated food deterioration, which increased the demand for preservatives like benzoic acid in a number of sectors, including food and beverage (F&B), pharmaceutical, and other industries. Prices went up because of the growing requirement for benzoic acid to stop spoiling by preventing bacterial and fungal development.
The price trend for benzoic acid excipient in China for Q2 reached 1360 USD/MT in 2023. The rise was prompted by heat waves and moisture in China, which increased food spoilage in the F&B sector. The increase in demand for preservatives such as benzoic acid to prevent spoilage caused prices to rise.
In Germany, benzoic acid excipient prices in June 2023 reached 1586 USD/MT. The prices dropped at first but then increased because of a favorable currency exchange rate. Individuals in the country were able to purchase Chinese items at reduced rates as a result of the decline in Chinese renminbi in value relative to the Euro.
Regional Coverage
The report provides a detailed analysis of the benzoic acid excipient market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the benzoic acid excipient price trend.
Global Benzoic Acid Excipient Price
The report offers a holistic view of the global benzoic acid excipient pricing trends in the form of benzoic acid excipient price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights the current price but also provides insights into benzoic acid excipient historical price trends, enabling stakeholders to understand past fluctuations and their underlying causes.
The report also delves into benzoic acid excipient price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed benzoic acid excipient demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.
Europe Benzoic Acid Excipient Price
Q2 2024:
In Europe, the price for benzoic acid excipient experienced upward market trends during the Q2 2024. A favorable market forecast was bolstered by robust demand from end use sectors and price hikes by local providers hoping to capitalize on previously built-up stockpiles. The increased pricing trend was reinforced by higher manufacturing expenses, which were a result of increased freight costs globally. Major shipping routes were also hampered by geopolitical concerns and conflicts, which resulted in interruptions and higher operating expenses. These disruptions particularly affected lines that passed through the Red Sea and the Cape of Good Hope in Africa. In addition, the situation was made worse by container shortages and port congestion in Asia, which increased freight rates.
Q1 2024:
In Q1 2024, benzoic acid excipient prices in Europe showcased downward price trends. The prior quarter's global overproduction led to an excess of inventory and additional price reductions. Another layer of difficulty was created by the weakening of the Euro relative to the US dollar, which decreased import activity and put pressure on German buyers and dealers. Elevated shipping expenses, especially prior to the Red Sea conflict, restricted the number of new order inquiries, suggesting little demand-driven market activity. However, as Q1 came to an end in March, the prices increased again. Stockpiles continued to be adequate and exporting countries' shipments progressively rose.
This analysis can be extended to include detailed benzoic acid excipient price information for a comprehensive list of countries.
Region |
Countries Covered |
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, among other European countries. |
North America Benzoic Acid Excipient Price
Q2 2024:
In the second quarter of 2024, the North American market saw notable price increase. Preservatives, medicines, and cosmetics were among the many industries that had a strong demand for benzoic acid due to a notable improvement in economic dynamics and growing industrial activity. Low inventories as a result of supply chain interruptions, particularly transportation difficulties and plant closures, contributed to this demand spike. One of the main contributing factors was the ongoing increase in energy prices worldwide, which had an immediate effect on manufacturing costs. This was made worse by rising fuel prices and increased operating costs for shipping companies.
Q1 2024:
In North America, the price for benzoic acid excipient witnessed intricate trends that were influenced by a wide variety of variables. Prior to the Red Sea dispute, export limitations resulted in increased freight costs, which further affected market outlook. Although, traders were forced to accept items at higher prices because the market's outlook remained mostly optimistic. The market for benzoic acid excipient was further supported financially by the feedstock toluene, which also affected manufacturing expenses and raised the price of the finished product.
Specific benzoic acid excipient historical data within the United States and Canada can also be provided.
Region |
Countries Covered |
North America |
United States and Canada |
Middle East and Africa Benzoic Acid Excipient Price
The report explores the benzoic acid excipient pricing trends in the Middle East and Africa, considering factors like regional industrial growth, the availability of natural resources, and geopolitical tensions that uniquely influence market prices.
In addition to region-wise data, information on benzoic acid excipient prices for countries can also be provided.
Region |
Countries Covered |
Middle East & Africa |
Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco, among other Middle Eastern and African countries. |
Asia Pacific Benzoic Acid Excipient Price
Q2 2024:
In the Asia Pacific region, the price trend for benzoic acid excipient saw upward trend in the second quarter of 2024. In line with this, rising price of crude oil and shipping rates also exerted pressure on manufacturing and logistical costs, which, in turn, raised the price of benzoic acid excipient. The most notable price movements were in China, where the market saw notable upward movement. Production rebounded after the Lunar New Year, but supply held tight because of logistical problems and ongoing high demand.
Q1 2024:
In the first quarter of 2024, benzoic acid excipient prices in the Asia Pacific region exhibited minor changes with mostly positive trend. Following the holidays, there were also limited new orders in Northern and Western markets, such as Europe. As a result, retailers chose cost-cutting measures that centered on lowering prices and getting rid of excess inventory. This direction was further assisted by falling toluene prices. However, as a result of resurgent demand from both domestic and foreign markets, China saw a notable price increase for benzoic acid excipients in February.
This benzoic acid excipient price analysis can be expanded to include a comprehensive list of countries within the region.
Region |
Countries Covered |
Asia Pacific |
China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand, among other Asian countries. |
Latin America Benzoic Acid Excipient Price
The analysis of benzoic acid excipient prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, industrial growth, and trade frameworks.
This comprehensive review can be extended to include specific countries within the region.
Region |
Countries Covered |
Latin America |
Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru, among other Latin American countries. |
Benzoic Acid Excipient Price Trend, Market Analysis, and News
IMARC’s newly published report, titled “Benzoic Acid Excipient Prices, Trend, Chart, Demand, Market Analysis, News, Historical and Forecast Data Report 2024 Edition,” offers an in-depth analysis of benzoic acid excipient pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.
It encompasses an in-depth review of spot price of benzoic acid excipient at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of benzoic acid excipient price trend across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.
The report examines the elements influencing benzoic acid excipient price fluctuations, such as changes in raw material costs, supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.
Benzoic Acid Excipient Industry Analysis
The global benzoic acid excipient industry size reached 239.2 Thousand Tons in 2023. By 2032, IMARC Group expects the market to reach 331.7 Thousand Tons, at a projected CAGR of 3.70% during 2023-2032.
- The growing demand for processed and packaged food products among the masses is offering a favorable market outlook. More consumers are opting for convenient, ready-to-eat (RTE) food items because of busy schedules and the rise of urban living. In 2023, the global market for ready-to-eat (RTE) food was valued at approximately US$ 181.5 billion. The market is expected to grow at a CAGR of 4.18% from 2024 to 2032, with a projected value of US$ 262.4 billion in 2032 by the IMARC Group. Benzoic acid is essential in preserving these products to ensure their safety, taste, and longevity. It is commonly utilized in an assortment of processed foods like condiments, dressings, pastries, and snacks to hinder spoilage and maintain product quality for prolonged durations. In developing nations, there is an increase in the consumption of processed foods due to urbanization and higher incomes, leading to changes in eating patterns. According to the China in Numbers (2023) report by the United Nations Development Programme (UNDP), the percentage of permanent residents in urban locations has increased by over threefold since 1982, reaching 66.2% in 2023.
- The rising incorporation of benzoic acid in personal care items such as sunscreens, lipsticks, and lotions are propelling the market growth.
- The use of benzoic acid in the pharmaceutical sector is a major factor supporting the market growth. Benzoic acid is incorporated in creams, ointments, and medications due to its antimicrobial characteristics. It is also a vital ingredient in the synthesis of active pharmaceutical ingredients (APIs) for preserving their potency. The IMARC Group projects that the worldwide market for API will grow from its 2023 valuation of US$ 234.7 billion to US$ 357.0 billion by 2032. The growing international pharmaceutical industry, driven by the ongoing requirement for novel and effective treatments, raises the requirement for trustworthy excipients such as benzoic acid. In addition, the increasing geriatric population that is more prone to numerous age-related ailments is driving the demand for benzoic acid for the synthesis of various drugs. As per the 2023 US Census Bureau report, the number of people in the US aged 65 and above was projected to increase by 47%, rising from 58 million in 2022 to 82 million by 2050.
Benzoic Acid Excipient News
The report covers the latest developments, updates, and trends impacting the global benzoic acid excipient industry, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, advancements in benzoic acid excipient production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the benzoic acid excipient price trend.
Latest developments in the benzoic acid excipient industry:
- August 2023: Conagen and Sumitomo Chemical jointly developed renewable p-hydroxystyrene (HS) and poly p-hydroxystyrene (PHS) using biosynthesis, chemosynthesis, and polymerization. The project proposed a comparable process to produce benzoic acid and other compounds.
- August 2023: SINTEZA S.A. announced that it will produce steam or thermal energy from a variety of by-products obtained during the synthesis of benzoic acid, which will then be reintroduced into the process.
Product Description
Benzoic acid excipient is a basic aromatic carboxylic acid used in the pharmaceutical and food and beverage (F&B) sectors. It is produced by partially oxidizing toluene with oxygen gas and utilizing cobalt or manganese salts as catalysts, which results in high purity of the product. It has different derivatives, such as sodium benzoate and potassium benzoate, which offer greater solubility in water and are frequently present in liquid medications and drinks. It is valued for its antibacterial qualities that help to prevent the growth of bacteria, yeast, and fungi. Its capacity to easily mix in organic solvents, but with limited solubility in water, makes it suitable for various formulations like topical, oral, and injectable medications. It is a favorable option for different pharmaceutical applications due to its inexpensive cost, ease of production, and minimal harmful effects. It is used to adjust pH in cosmetics and as a reference standard for calibrating analytical chemistry instruments.
Report Coverage
Key Attributes |
Details |
Product Name |
Benzoic Acid Excipient |
Report Features |
Exploration of Historical Trends and Market Outlook, Industry Demand, Industry Supply, Gap Analysis, Challenges, Benzoic Acid Excipient Price Analysis, and Segment-Wise Assessment. |
Currency/Units |
US$ (Data can also be provided in local currency) or Metric Tons |
Region/Countries Covered |
The current coverage includes analysis at the global and regional levels only.
Based on your requirements, we can also customize the report and provide specific information for the following countries:
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*
*The list of countries presented is not exhaustive. Information on additional countries can be provided if required by the client. |
Information Covered for Key Suppliers |
- Company Overview
- Business Description
- Product Portfolio
- Recent Trends and Developments
|
Customization Scope |
The report can be customized as per the requirements of the customer |
Report Price and Purchase Option |
Plan A: Monthly Updates - Annual Subscription
- Scope
- Historical Data for the Current Month
- Forecast for Next Month
- Total Deliverables Per Year: 12 (One Per Month)
- Includes: One PDF and Excel datasheet per month, Post Purchase Analyst Support throughout the year
Plan B: Quarterly Updates - Annual Subscription
- Scope
- Historical Data for the Current Quarter
- Forecast for Next Quarter
- Total Deliverables Per Year: 4 (One Per Quarter)
- Includes: One PDF and Excel datasheet per Quarter, Post Purchase Analyst Support throughout the year
Plan C: Biannually Updates - Annual Subscription
- Scope
- Historical Data for the Current Half
- Forecast for the Next Half
- Total Deliverables Per Year: 2 (One Per 6 Months)
- Includes: One PDF and Excel datasheet per Half, Post Purchase Analyst Support throughout the year
|
Post-Sale Analyst Support |
360-degree analyst support after report delivery |
Delivery Format |
PDF and Excel through email (We can also provide the editable version of the report in PPT/Word format on special request) |
Key Benefits for Stakeholders:
- IMARC’s report presents a detailed analysis of benzoic acid excipient pricing, covering global and regional trends, spot prices at key ports, and a breakdown of Ex Works, FOB, and CIF prices.
- The study examines factors affecting benzoic acid excipient price trend, including raw material costs, supply-demand shifts, geopolitical impacts, and industry developments, offering insights for informed decision-making.
- The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
- IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The benzoic acid excipient price charts ensure our clients remain at the forefront of the industry.