Benzoic Acid Excipient Prices

Benzoic Acid Excipient Prices September 2024

The benzoic acid excipient prices in the United States for Q3 2024 reached 1630 USD/MT in September. The region faced notable price declines due to weak demand and abundant supply. Economic challenges and competition from cost-effective alternatives added pressure, while reduced lead times by suppliers did little to stimulate regional buyer interest, maintaining a bearish outlook.

The price trend for benzoic acid excipient in China for Q3 2024 settled at 1230 USD/MT in September. The market saw significant price drops driven by oversupply and sluggish demand. High production levels in prior months led to inventory buildup, prompting manufacturers to implement aggressive pricing to manage stock. Moreover, facility shutdowns and lowered export prices further underscored market challenges.

In Germany, the benzoic acid excipient prices for Q3 2024 reached 1570 USD/MT in September. The market experienced price reductions due to falling energy and feedstock costs, along with sluggish demand in key sectors. Furthermore, companies moved to offload stocks to avoid high storage costs, contributing to an oversupply and reinforcing negative market sentiment amid limited trading activity.

Benzoic Acid Excipient Prices June 2024

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

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.

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

Q3 2024:

During Q3 2024, the European benzoic acid excipient market experienced a decline in prices, with Germany showing the most substantial shifts. Factors, such as reduced production costs from lower energy and feedstock prices, along with weakened demand in the food preservative and pharmaceutical sectors, contributed to the oversupply. Companies responded by offloading stock to minimize storage costs, further intensifying market pressures. As a result, the environment remained challenging, marked by limited trading activity and plant disruptions, which further highlighted the negative market sentiment.

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.

North America Benzoic Acid Excipient Price

Q3 2024:

Throughout the third quarter of 2024, the North American benzoic acid excipient market saw significant price declines, influenced by an oversupply and weak demand, particularly within preservative and pharmaceutical industries. Economic challenges, increased competition from lower-cost alternatives, and currency fluctuations also contributed to this trend. Furthermore, suppliers adjusted strategies to reduce lead times but struggled to attract buyers. Additionally, the U.S. market experienced pronounced price fluctuations, showcasing constant negative sentiment and significant market challenges that sustained the downward pressure throughout the quarter.

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.

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.

Asia Pacific Benzoic Acid Excipient Price

Q3 2024:

In the Asia Pacific region, the benzoic acid excipient market for Q3 2024 experienced marked price reductions due to excess supply and reduced demand. In China, strong production in prior months led to an inventory surplus, straining the market. Moreover, this oversupply, paired with diminished consumption in key downstream industries, drove competitive pricing among manufacturers. As a result, export prices dropped, highlighting China’s role as a hub of market volatility. Operational disruptions, including facility shutdowns, further impacted supply consistency, reinforcing bearish trends throughout the region.

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.

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.

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 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.