Potassium Benzoate Prices

Potassium Benzoate Prices September 2024

The potassium benzoate prices in the United States for Q3 2024 reached 2400 USD/MT in September. The region saw prices initially decline due to lower production costs and increased competition. However, rising demand and supply constraints, along with geopolitical and economic pressures, drove prices upward. Elevated crude oil prices further impacted supply chain costs, influencing market trends.

The price trend for potassium benzoate in China for Q3 2024 settled at 2230 USD/MT in September. The market faced price fluctuations, starting with a decline due to reduced demand and seasonal plant shutdowns. Despite this, strong downstream industry demand and supply limitations led to price recovery. Moreover, geopolitical conflicts and logistical issues contributed to continued market volatility throughout the quarter.

In Germany, the potassium benzoate prices for Q3 2024 reached 2300 USD/MT in September. The market began with price drops due to lower production costs and competitive pricing. Buyers postponed purchases, leading to demand slowdowns. However, disruptions like plant shutdowns and increasing global demand intensified supply pressures, resulting in a robust upward price trend by quarter-end.

Potassium Benzoate Prices June 2024

The potassium benzoate prices in the United States for Q2 2024 reached 2350 USD/MT in June. The region experienced significant price drops due to seasonality and reduced purchasing activity. Oversupply, paired with lower consumer confidence, led traders to opt for aggressive pricing to clear inventories. Moreover, the strengthened US dollar also made imports more affordable, influencing market conditions.

The price trend for potassium benzoate in China for Q2 2024 settled at 2160 USD/MT in June. The market saw notable price declines due to strategic destocking and high inventory levels. Furthermore, scheduled plant maintenance, coupled with improved trade flow and eased geopolitical tensions, led to reduced inquiries and oversupply, reinforcing a bearish market sentiment throughout the quarter.

In Germany, the potassium benzoate prices for Q2 2024 reached 2330 USD/MT in June. The market witnessed substantial price drops amid existing stockpiles and cautious procurement strategies. Disruptions from plant shutdowns and lower seasonal demand impacted market activity, while inflationary pressures and reduced production costs influenced pricing and contributed to a challenging trading environment.

Potassium Benzoate Prices December 2023

The potassium benzoate prices in the United States for Q4 2023 reached 2415 USD/MT in December. In the Q4 2023, the U.S. potassium benzoate market saw prices waver due to high inventory levels and consistent demand. A decline in export prices from major suppliers like China also affected the market. Suppliers focused on clearing the stock before the year-end, reflecting broader efforts to stabilize the market as it moved into 2024.

The price trend for potassium benzoate in China for Q4 2023, reached 2245 USD/MT in December. In Q4 2023, China’s potassium benzoate market experienced a price decline driven by an overstock of domestic inventory and lower international demand. The reduced prices of benzoic acid also lowered manufacturing costs, further impacting potassium benzoate pricing. These factors, combined with a slow economic recovery, shaped the market's downward pricing trend during the quarter.

The price trend for potassium benzoate in Germany for Q4 2023, reached 2430 USD/MT in December. During Q4 2023, the market in Germany saw falling prices as a result of excess inventory and subdued demand, compounded by lower raw material costs. Nevertheless, increasing freight costs and shipment delays due to geopolitical strain in the Red Sea as well as Suez Canal caused a brief increase in prices by December.

Regional Coverage

The report provides a detailed analysis of the potassium benzoate 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 potassium benzoate price trend.

Global Potassium Benzoate Price

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

The report also delves into potassium benzoate 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 potassium benzoate 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 Potassium Benzoate Price

Q3 2024:

During Q3 2024, the potassium benzoate market in Europe witnessed strong price growth, influenced by rising production expenses, global demand surges, and ongoing supply chain issues. These factors led to adjusted pricing strategies by exporting countries. Early in the quarter, Germany saw price reductions due to decreased production costs, which allowed for more competitive pricing and reduced immediate price pressure. Moreover, buyers delayed purchases amid these conditions, leading to slowed demand, while companies reduced inventory to minimize storage costs and potential product degradation. By the quarter end, strong supply-demand dynamics reaffirmed an upward pricing trend in the region.

Q2 2024:

During Q2 2024, the potassium benzoate market in Europe faced a steady decline in prices due to various factors. Reduced production costs at key manufacturing hubs, alongside stabilized geopolitical conditions, influenced supply chains and freight expenses. The basic market sentiment was negative, as heightened inflation curbed purchasing power and dampened demand, particularly in the food sector. In addition, Germany reported the most significant changes, with cautious procurement strategies and existing stockpiles contributing to a bearish market outlook. Furthermore, plant disruptions and diminished seasonal demand added to the challenges, resulting in a tough trading environment for industry participants throughout the quarter.

Q4 2023:

In the Q4 2023, the potassium benzoate industry in Europe saw a price drop due to several key factors. Early in the quarter, suppliers faced an oversupply situation, leading to lower prices as they worked to manage inventory. Variations in raw material costs, notably for benzoic acid, added to the price fluctuations. The international trend of falling prices, driven by leading exporters such as China, further contributed to the decline. In Germany, challenges with inventory management and a persistent supply-demand imbalance resulted in continued low demand. By December, geopolitical strain in the Red Sea along with Suez Canal caused shipping delays and growth in freight prices, leading to a brief spike in prices.

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

North America Potassium Benzoate Price

Q3 2024:

Throughout the third quarter of 2024, the potassium benzoate market in North America saw a notable rise in prices. Initially, the market experienced a dip at the start of the quarter, driven by reduced costs of production in major manufacturing hubs that magnified price competition. Such competitive landscape raised concerns about market stability and profitability. Furthermore, increasing domestic and export demand played a significant role in driving up prices, while supply challenges due to plant shutdowns and logistical disruptions compounded the issue. Additionally, geopolitical factors and fluctuating currency rates also influenced import expenses, alongside rising crude oil prices, further elevating supply chain costs and impacting market dynamics.

Q2 2024:

Throughout the second quarter of 2024, the potassium benzoate market in North America saw persistent price declines, largely influenced by an oversupply from earlier bulk procurement and unmet demand expectations. The surplus, paired with reduced purchasing and declining consumer confidence in key sectors, exacerbated the downward trend. Moreover, lower charges of freight and the strengthened US dollar made imports more cost-effective and enhanced purchasing power, contributing to the price drop. Additionally, the USA faced the most significant fluctuations due to seasonal factors and market sentiment, which led to reduced buying activities. The overall environment was marked by aggressive pricing as traders worked to clear excess inventory and stabilize the market.

Q4 2023:

During Q4 2023, the industry in North America faced price variations driven by several factors. At the start, the market experienced average to high supply levels, thanks to significant orders and heightened production, which contributed to stronger inventories. Demand remained steady, supported by positive sentiment among various end-user sections and rising consumption. However, prices started to fall due to reductions in export prices from major Chinese provinces, which are key players in the global market. This drop, caused by weaker overseas demand, also affected the U.S. market. Additionally, many stakeholders prioritized reducing excess stock ahead of the new year to align with expected market position for 2024.

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

Middle East and Africa Potassium Benzoate Price

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

Asia Pacific Potassium Benzoate Price

Q3 2024:

In the third quarter of 2024, potassium benzoate prices in the APAC region increased significantly despite a price drop in July. This initial decline stemmed from reduced domestic and global demand, creating oversupply and easing price pressure. Moreover, seasonal plant shutdowns also contributed to inventory liquidation efforts. However, robust demand from downstream sectors and limited supply later pushed prices upward. In addition, market players navigated rising input costs, geopolitical tensions, and logistical challenges, leading to price volatility throughout the quarter. In China, the sector showed resilience despite disruptions, with notable adaptations in pricing strategies influenced by production constraints and market fluctuations.

Q2 2024:

Throughout Q2 2024, the potassium benzoate market in the APAC region witnessed consistent price declines due to high inventory levels, weak demand from both local and global markets, and strategic supplier destocking. Traders lowered prices to clear stock and manage storage expenses amidst reduced downstream inquiries. The weakening of domestic currencies relative to the US dollar also added pressure on pricing, impacting the competitiveness of exports and inflating domestic supply. In addition, China experienced the sharpest price movements due to scheduled plant maintenance and easing geopolitical issues, which facilitated trade but led to oversupply and a bearish market sentiment.

Q4 2023:

Throughout Q4 2023, the Asia Pacific potassium benzoate market saw a downward price trend influenced by multiple factors. Overall demand remained low due to sluggish economic recovery and weakened market local market conditions. A surplus of local inventory led suppliers to decrease prices to clear stock, aiming to refill with new supplies in the approaching quarter. Additionally, the decline in Benzoic acid prices lowered production costs, further exacerbating the reduction in potassium benzoate rates. In China, substantial pricing changes were observed, reflecting broader market trends. These fluctuations were shaped by economic conditions and the need to manage inventory levels amid fluctuating demand.

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

Latin America Potassium Benzoate Price

The analysis of potassium benzoate 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.

Potassium Benzoate Price Trend, Market Analysis, and News

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

The report examines the elements influencing potassium benzoate 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.

Potassium Benzoate Market Analysis

The global potassium benzoate market size reached 20 Thousand Tons in 2023. By 2032, IMARC Group expects the market to reach 29.9 Thousand Tons, at a projected CAGR of 4.60% during 2023-2032.

• Potassium benzoate is mostly employed as a preservative in the food sector. It functions as a bacteriostatic and fungistatic agent only in acidic environments (pH 4.5 or lower), where its antibacterial qualities are ineffective. Because of its specificity, it is an ideal choice for acidic food and drink items. Potassium benzoate prolongs the shelf life of food products without sacrificing flavor or safety by inhibiting the growth of bacteria. Additionally, it is frequently found in salads, jams, fizzy and still drinks, and other sauces. Moreover, the increasing consumption of packaged and processed food among the masses is driving the demand for effective preservatives. According to the IMARC Group, the global packaged food market is expected to reach US$ 4,581.6 Billion by 2032. This will further increase the need for preservatives like potassium benzoate.
• Potassium benzoate is used as a preservative in pharmaceutical products, such as cough syrups and oral medications. It works to stop microorganisms from growing, which could otherwise deteriorate the substance or reduce its therapeutic effectiveness. Additionally, in certain formulations, its buffering qualities help to maintain the required pH, which enhances the medication's durability and effectiveness.
• The growing employment of potassium benzoate in the production of various personal care products like toothpaste, mouthwashes, and certain skin and hair care products is offering a favorable market outlook. It helps to ensure that the quality of these products is retained for a long period. Moreover, people are constantly seeking oral care products that provide efficient results. According to a report presented by the World Health Organization (WHO) in 2023, oral diseases pose a major health burden for many countries and affect individuals throughout their lives.
• The rising adoption of potassium benzoate E212 in the agricultural industry as a preservative in animal feed and poultry feed is propelling the growth of the market. Farmers are constantly seeking feed formulations to improve the productivity of their animals and improve their health conditions. Moreover, the increasing protein consumption among the among the masses to prevent the occurrence of various diseases is strengthening the market growth. On the basis of the information provided by the IMARC Group, the global meat market is projected to reach US$ 1.7 Trillion by 2032. This will further drive the need for efficient feed formulations among farmers.

Potassium Benzoate News

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

Latest developments in the potassium benzoate industry:

• May 2023: UMC Ingredients announced the launch of a new and premium version of potassium benzoate under the tradename PureBenz P^™​.

Product Description

Potassium benzoate is a white, odorless powder that is manufactured by combining benzoic acid and potassium salt under heat. It is often utilized in the food and beverage (F&B) industry as a preservative owing to its antimicrobial and fungistatic properties. It is commonly added to jams, salads, and various types of sauces. It is also incorporated into various personal care products like toothpaste, mouthwash, shampoo, and skin care items as a preservative to improve the efficacy of these products. It is extensively employed in the agriculture industry for creating various efficient animal and poultry feed formulations to improve their yield and enhance their health conditions.

Report Coverage

Key Benefits for Stakeholders:

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