Nitrobenzene Prices

Nitrobenzene Prices September 2024

The nitrobenzene prices in the Japan for Q3 2024 reached 1,570 USD/MT in September. The market experienced significant price fluctuations driven by the demand from key sectors. Geopolitical tensions and supply chain issues increased raw material costs, while seasonal demand spikes further influenced prices. However, competitive supplier strategies and occasional oversupply posed challenges. Overall, prices ended the quarter on a stable and positive note year-on-year.

Nitrobenzene Prices June 2024

During Q2 2024, prices of nitrobenzene in Japan reached 1,583 USD/MT. The country was witnessing constant changes in prices. Seasonal changes also significantly impacted the prices, as the demand grew because of heightened construction projects and rising requests for selling overseas.

Nitrobenzene Prices March 2024

During Q1 2024, the nitrobenzene prices in Japan reached 1,543 USD/MT in March. During the initial months of 2024, the nitrobenzene industry in Japan saw significant price changes, mainly impacted by the Noto Earthquake, Lunar New Year celebrations, and seasonal factors. Even with a notable price drop in February, the quarter experienced an optimistic sentiment because of price increases.

Nitrobenzene Prices December 2023

The nitrobenzene prices in the United States for Q4 2023 reached 1670 USD/MT in December. The market in the United States was stable, with moderate demand, significant imports, and sufficient product inventories. Moreover, the demand for agrochemicals was initially steady, but decreased gradually, and the construction-associated demand remained subdued. Polymer and automotive markets were the major consumers of nitrobenzene derivatives.

The price trend for nitrobenzene in China for Q4 2023, reached 1650 USD/MT in December. In China, the nitrobenzene market saw stable demand across various sectors in Q4 2023. The construction industry, especially commercial projects, showed increased procurement of nitrobenzene derivatives. While the agrochemical sector's demand eased due to a strong harvest season, pharmaceuticals remained robust due to increased healthcare needs. Automotive and polymer sectors also contributed to sustained demand.

Regional Coverage

The report provides a detailed analysis of the nitrobenzene 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 nitrobenzene price trend.

Global Nitrobenzene Price

The report offers a holistic view of the global nitrobenzene pricing trends in the form of nitrobenzene 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 nitrobenzene historical price trends, enabling stakeholders to understand past fluctuations and their underlying causes.

The report also delves into nitrobenzene 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 nitrobenzene 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 Nitrobenzene Price

Q3 2024:

In the third quarter of 2024, Europe’s Nitrobenzene market displayed varied pricing trends shaped by strong demand and a range of external influences. Persistent high demand from the pharmaceutical and agrochemical industries exerted rising pressure on prices. However, market faced challenges, such as oversupply in specific areas and intense pricing strategies from leading suppliers, which limited overall price hikes. In spite of these challenges, Nitrobenzene prices in Europe reflected a positive year-on-year trend. Prices reached their highest point in the middle of the quarter before stabilizing toward the end, leading to an overall beneficial pricing scenario backed by solid demand and improving market conditions.

Q2 2024:

During the second quarter of 2024, the European market saw notable price changes due to a mix of conflicting factors. In the beginning, a decrease in raw material expenses, specifically benzene, pushed nitrobenzene prices down. Nevertheless, this pattern was balanced by a simultaneous increase in the expenses of sulfuric acid, mainly influenced by geopolitical conflicts. Additional factors that made the market dynamics more complex included supply limitations caused by the closure of production facilities. The supply chain disruptions were worsened by geopolitical uncertainties and the expected turbulent hurricane season, causing increased cost pressures.

Q1 2024:

In Q1 2024, nitrobenzene prices in Europe witnessed a bullish trend due to stabilized energy and gas contracts and eased downturns. The regional market experienced a rise in isocyanate orders and ease in MDI manufacturing downturns. Germany depicted price improvement due to a rise in benzene supply contracts, with a recovery in spot prices by February. Drop in gas prices lowered energy premiums. Although domestic need decreased in Germany, imports from Belgium and the Netherlands improved. England's discounted mortgage market led the way, with France, Netherlands, and Italy following suit to boost their construction sectors.

Q4 2023:

The European region experienced a bearish price trend owing to low energy prices and the declining cost of feedstock benzene. It was further exacerbated by the implementation of policy on sustainable energy transition in the EU. Moreover, the increasing recovery of residential construction chemicals sector has driven the demand for derivatives of nitrobenzene. The rising construction of various commercial infrastructure and renovation activities in the region supported the market growth.

This analysis can be extended to include detailed nitrobenzene price information for a comprehensive list of countries.

North America Nitrobenzene Price

Q3 2024:

In Q3 2024, North America's nitrobenzene market showcased varied price movements, underpinned by strong demand from the agrochemical and pharmaceutical industries. Rising costs of raw materials, especially benzene, driven by persistent supply chain constraints and geopolitical tensions, exerted upward pressure on prices throughout the period. Despite these hurdles, nitrobenzene prices continued to rise compared to the previous year. Prices reached their highest point mid-quarter before slightly easing towards the end. Overall, the market demonstrated resilience, supported by steady demand and robust fundamentals, keeping prices elevated relative to the prior year.

Q2 2024:

The pricing of nitrobenzene in North America during Q2 2024 showed a diverse pattern. Even though nitrobenzene prices were pushed down by lower raw material prices, the impact was offset by an increase in sulfuric acid expenses caused by geopolitical complications. Shutdowns of production facilities also played a role in the limitations of supply, further contributing to price instability. The supply chain disruptions were made worse by the approaching hurricane season and geopolitical concerns, leading to increased cost concerns. Moreover, end-use sectors like MDI associated in major purchasing and storing to combat the elevated costs of crude oil and natural gas, further influencing market trends.

Q1 2024:

During Q1 2024, the nitrobenzene market in the North American region saw a bullish trend due to stabilized gas and energy supply contracts and slump in construction and automobile demand. Recovering spot costs and benzene supplier agreements further fuelled prices. Domestic supply remained robust, with majority of the imports from Korea. Reduced gas expenses lowered supply of energy premiums, while newer isocyanate orders eased the downturns in MDI production. Price uplift led to an increase in exports from Belgium and Germany, despite subdues domestic need in Germany.

Q4 2023:

In North America, the nitrobenzene market showed bearish prices owing to the restricted domestic supply and gradual slowing down of demand from the agrochemical sector. However, consumer demand, particularly in the pharmaceutical sector, stayed steady owing to the increasing occurrence of various chronic diseases among the masses and resilient spending habits. The implementation of a transition policy regarding sustainable energy in the USA is driving the demand for polyurethane.

Specific nitrobenzene historical data within the United States and Canada can also be provided.

Middle East and Africa Nitrobenzene Price

The report explores the nitrobenzene 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 nitrobenzene prices for countries can also be provided.

Asia Pacific Nitrobenzene Price

Q3 2024:

In the third quarter of 2024, nitrobenzene prices in the Asia Pacific region showed a mixed trend, driven by a strong demand from the agrochemical and pharmaceutical sectors. An increase in cost of raw materials, especially for benzene, due to supply chain issues and geopolitical tensions, contributed to an upward pressure on prices. The seasonal demand spikes from the monsoon season also played a pivotal role. However, oversupply in some areas and competitive pricing from Chinese suppliers limited overall price growth. Japan experienced notable price movements, reflecting a generally positive year-on-year trend, despite some quarterly dips. Overall, robust demand dynamics supported a stable and rising market dynamics.

Q2 2024:

Nitrobenzene prices in the Asia Pacific region experienced a slight increase in the second quarter of 2024, influenced by various factors. Currency changes, increasing feedstock expenses, and strong requirements from sectors like construction and pharmaceuticals have largely influenced the market dynamics. The consistent difficulty in accessing important raw materials such as benzene and nitric acid has continuously pushed market prices upward. Apart from this, increased charges for shipping and delays in transportation have worsened the problem, resulting in more restricted supply chains and rising prices.

Q1 2024:

During Q1 2024, nitrobenzene prices experienced mixed sentiments in the Asia-Pacific region, with price increment in the beginning and price downturn towards the quarter. Japan witnessed a substantial market fluctuations due to Noto earthquake and lunar new year festivities, with price hike at the end of the quarter despite the slump witnessed in late February and early March. As a result, East Asian manufacturers preferred spot procurements over contracts, which led to notable drop and recurrent price revisions.

Q4 2023:

During Q4 2023, nitrobenzene prices in the Asia Pacific showed an upward trend. Although the cost of benzene remained low due to strong US crude and gas production and low energy prices, demand dynamics varied across sectors. The market saw limited import reliance, with significant supplies coming from Japan and Korea. Demand in the construction sector was mixed; orders for nitrobenzene-derived MDI increased, especially in commercial construction, while signs of recovery were witnessed in residential construction chemicals sector. Meanwhile, the agrochemical demand remained stable, slowing down towards the quarter's end due to a strong cropping season. The pharmaceuticals sector remained robust amid rising healthcare needs and costs. Polymer and automotive sectors continued to drive demand, while price stabilization occurred due to high shipping costs and logistics issues.

This nitrobenzene price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America Nitrobenzene Price

The analysis of nitrobenzene 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.

Nitrobenzene Price Trend, Market Analysis, and News

IMARC’s newly published report, titled “Nitrobenzene Prices, Trend, Chart, Demand, Market Analysis, News, Historical and Forecast Data Report 2024 Edition,” offers an in-depth analysis of nitrobenzene 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 nitrobenzene at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of nitrobenzene price trend across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

The report examines the elements influencing nitrobenzene 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.

Nitrobenzene Market Analysis

The global nitrobenzene industry size reached US$ 11.9 Billion in 2023. By 2032, IMARC Group expects the market to reach US$ 19.2 Billion, at a projected CAGR of 5.50% during 2023-2032.

• The rising utilization of polymers for food packaging purposes due to their flexibility and versatility is impelling the growth of the nitrobenzene sector.
• The nitrobenzene demand is further amplified by its utilization as a feedstock in the production of plastics, rubbers, dyes, and various pharmaceutical agents.
• Nitrobenzene is also becoming increasingly popular in the chemical sector as a raw material for producing resins and waxes, which are essential for coating various surfaces.
• Moreover, the increasing employment of nitrobenzene in the synthesis of aniline is propelling the market growth. Aniline is used in rubber accelerators and antioxidants, which are essential for combating oxidative stress and free radicals in the body. It is also used in petroleum refining. According to a report by IEA, global oil demand increased by 6% between 2022 and 2028 to finally reach 105.7 million barrels per day. This further catalyzed the demand for nitrobenzene.
• In the pharmaceutical industry, nitrobenzene derivatives are in high demand or widely used for synthesizing a wide range of drugs and other medical compounds. It is a primary component for creating analgesics, antipyretics, and other categories of medicinal compounds. Moreover, based on the report presented by the World Health Organization (WHO) in 2023, noncommunicable diseases kill 41 million individuals every year, which is equivalent to 74% of deaths globally. This is further driving the demand for nitrobenzene for novel drug development purposes.
• The increasing purchase of personal and commercial vehicles is driving the demand for nitrobenzene. According to a report published by the European Automobile Manufacturers' Association in 2023, 16.7 million commercial vehicles, including vans, trucks, and buses, are manufactured globally per year. Nitrobenzene is used for making steering wheels, airbag covers, bumpers, and waterproof flooring materials for cars.
• Furthermore, the microwave-assisted green synthesis of nitrobenzene, where natural zeolite and sulfated natural zeolite catalysts materials are adopted is offering opportunities to overcome various environmental challenges associated with nitrobenzene production.

Nitrobenzene News

The report covers the latest developments, updates, and trends impacting the global nitrobenzene 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 nitrobenzene production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the nitrobenzene price trend.

Latest developments in the nitrobenzene industry:

• October 2023: Sadhana Nitro Chem Ltd got the approval from Maharashtra Pollution Control Board to manufacture paracetamol para-aminophenol (pAP) from nitrobenzene.
• September 2023: Prime Minister of India, Narendra Modi laid the foundation stone of the downstream petrochemical complex and refinery expansion project at Bina Refinery of Madhya Pradesh, operated by a state-run oil marketing company. The facility will manufacture nitrobenzene along with several other chemicals, which are essential for end-use sectors.

Product Description

Nitrobenzene (C₆H₅NO₂) is a yellow-colored oily liquid with a characteristic almond odor. It dissolves slightly in water and often evaporates into the air. It is sparsely soluble in carbon tetrachloride and highly soluble in ethanol, diethyl ether, acetone, and benzene. It is chemically a nitroarene consisting of benzene carrying a single nitro substituent. It undergoes nitration, halogenation, and sulfonation slowly compared to benzene. It can be reduced to a wide variety of compounds depending on the reaction procedure.

It is widely utilized for the production of aniline, which is a chemical used for the production of polyurethane. It is also employed for the production of lubricating oils and dyes which are used for the proper functioning of vehicles. It is often considered as an essential component or a mild oxidizing agent in the production of fuchsin and quinoline.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of nitrobenzene 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 nitrobenzene 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 nitrobenzene price charts ensure our clients remain at the forefront of the industry.