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Germany - Benzoic Acid, Its Salts And Esters - Market Analysis, Forecast, Size, Trends And Insights
Report Update: Nov 1, 2024

Germany - Benzoic Acid, Its Salts And Esters - Market Analysis, Forecast, Size, Trends And Insights

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Apr 14, 2023

Price of Benzoic Acid in Germany Drops Significantly to $3,258 per Ton

Germany Benzoic Acid Import Price in December 2022

In December 2022, the benzoic acid price stood at $3,258 per ton (CIF, Germany), reducing by -19.2% against the previous month. Overall, import price indicated tangible growth from December 2021 to December 2022: its price increased at an average monthly rate of +4.9% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on December 2022 figures, benzoic acid import price increased by +5.5% against July 2022 indices. The most prominent rate of growth was recorded in July 2022 when the average import price increased by 38% m-o-m. The import price peaked at $4,034 per ton in November 2022, and then dropped significantly in the following month.

There were significant differences in the average prices amongst the major supplying countries. In December 2022, the country with the highest price was the United States ($6,949 per ton), while the price for China ($1,792 per ton) was amongst the lowest.

From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+6.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Germany Benzoic Acid Imports

In December 2022, after two months of decline, there was significant growth in overseas purchases of benzoic acid, its salts and esters, when their volume increased by 17% to 1.7K tons. Over the period under review, imports, however, recorded a pronounced curtailment. The growth pace was the most rapid in March 2022 with an increase of 107% against the previous month. As a result, imports attained the peak of 2.7K tons. From April 2022 to December 2022, the growth of imports failed to regain momentum.

In value terms, benzoic acid imports reduced to $5.7M (IndexBox estimates) in December 2022. Overall, total imports indicated mild growth from December 2021 to December 2022: its value increased at an average monthly rate of +1.7% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on December 2022 figures, imports decreased by -6.3% against September 2022 indices. The pace of growth was the most pronounced in March 2022 when imports increased by 67% against the previous month. Over the period under review, imports reached the maximum at 6K tons in September 2022; however, from October 2022 to December 2022, imports remained at a lower figure.

Germany Benzoic Acid Imports by Country

In December 2022, the Netherlands (1.2K tons) constituted the largest supplier of benzoic acid to Germany, accounting for a 67% share of total imports. Moreover, benzoic acid imports from the Netherlands exceeded the figures recorded by the second-largest supplier, Belgium (173 tons), sevenfold. China (134 tons) ranked third in terms of total imports with a 7.7% share.

From December 2021 to December 2022, the average monthly rate of growth in terms of volume from the Netherlands totaled -4.5%. The remaining supplying countries recorded the following average monthly rates of imports growth: Belgium (+0.2% per month) and China (+1.1% per month).

In value terms, the Netherlands ($3.8M) constituted the largest supplier of benzoic acid to Germany, comprising 67% of total imports. The second position in the ranking was taken by Belgium ($492K), with an 8.7% share of total imports. It was followed by Estonia, with a 6.4% share.

From December 2021 to December 2022, the average monthly rate of growth in terms of value from the Netherlands amounted to +1.2%. The remaining supplying countries recorded the following average monthly rates of imports growth: Belgium (+3.6% per month) and Estonia (+8.7% per month).

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the benzoic acid market in Germany. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • Prodcom 20143363 - Benzoic acid, its salts and esters

Country coverage:

  • Germany

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Trade (exports and imports) in Germany
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. MARKET STRUCTURE
    3. TRADE BALANCE
    4. PER CAPITA CONSUMPTION
    5. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE

  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption In 2012-2023
    5. Imports, In Physical Terms, By Country, 2012–2023
    6. Imports, In Value Terms, By Country, 2012–2023
    7. Import Prices, By Country Of Origin, 2012–2023
    8. Exports, In Physical Terms, By Country, 2012–2023
    9. Exports, In Value Terms, By Country, 2012–2023
    10. Export Prices, By Country Of Destination, 2012–2023

  12. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
    4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
    5. Trade Balance, In Physical Terms, 2012-2023
    6. Trade Balance, In Value Terms, 2012-2023
    7. Per Capita Consumption, 2012-2023
    8. Market Volume Forecast to 2030
    9. Market Value Forecast to 2030
    10. Products: Market Size And Growth, By Type
    11. Products: Average Per Capita Consumption, By Type
    12. Products: Exports And Growth, By Type
    13. Products: Export Prices And Growth, By Type
    14. Production Volume And Growth
    15. Exports And Growth
    16. Export Prices And Growth
    17. Market Size And Growth
    18. Per Capita Consumption
    19. Imports And Growth
    20. Import Prices
    21. Production, In Physical Terms, 2012–2023
    22. Production, In Value Terms, 2012–2023
    23. Imports, In Physical Terms, 2012–2023
    24. Imports, In Value Terms, 2012–2023
    25. Imports, In Physical Terms, By Country, 2023
    26. Imports, In Physical Terms, By Country, 2012–2023
    27. Imports, In Value Terms, By Country, 2012–2023
    28. Import Prices, By Country Of Origin, 2012–2023
    29. Exports, In Physical Terms, 2012–2023
    30. Exports, In Value Terms, 2012–2023
    31. Exports, In Physical Terms, By Country, 2023
    32. Exports, In Physical Terms, By Country, 2012–2023
    33. Exports, In Value Terms, By Country, 2012–2023
    34. Export Prices, By Country Of Destination, 2012–2023

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