Report Update Nov 1, 2024

Iran - Benzoic Acid, Its Salts and Esters - Market Analysis, Forecast, Size, Trends and Insights

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Iran: Benzoic Acid Market 2024

Benzoic Acid Market Size in Iran

The Iranian benzoic acid market reduced rapidly to $X in 2021, which is down by -71.4% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption showed a abrupt setback. As a result, consumption reached the peak level of $X. From 2020 to 2021, the growth of the market remained at a lower figure.

Benzoic Acid Exports

Exports from Iran

In 2021, approx. X tons of benzoic acid, its salts and esters were exported from Iran; surging by 5,922% on 2020. Overall, exports recorded a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, benzoic acid exports soared to $X in 2021. In general, exports saw significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Kyrgyzstan (X tons) was the main destination for benzoic acid exports from Iran, with a 100% share of total exports. It was followed by Armenia (X kg), with a 0.1% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Kyrgyzstan was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Armenia (+9.6% per year) and Turkey (-70.6% per year).

In value terms, Kyrgyzstan ($X) emerged as the key foreign market for benzoic acid, its salts and esters exports from Iran, comprising 100% of total exports. The second position in the ranking was taken by Armenia ($X), with a 0.3% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Kyrgyzstan was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Armenia (-5.8% per year) and Turkey (-65.6% per year).

Export Prices by Country

The average benzoic acid export price stood at $X per ton in 2021, which is down by -62.4% against the previous year. In general, the export price recorded a deep reduction. The pace of growth was the most pronounced in 2018 when the average export price increased by 34% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Armenia ($X per ton), while the average price for exports to Kyrgyzstan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Turkey (+13.8%), while the prices for the other major destinations experienced a decline.

Benzoic Acid Imports

Imports into Iran

In 2021, approx. X tons of benzoic acid, its salts and esters were imported into Iran; waning by -75.7% compared with the previous year. Over the period under review, imports recorded a deep contraction. The growth pace was the most rapid in 2019 with an increase of 142% against the previous year. As a result, imports attained the peak of X tons. From 2020 to 2021, the growth of imports remained at a lower figure.

In value terms, benzoic acid imports reduced sharply to $X in 2021. In general, imports continue to indicate a abrupt decrease. The pace of growth was the most pronounced in 2016 with an increase of 71%. Imports peaked at $X in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Turkey (X tons), Bulgaria (X tons) and China (X tons) were the main suppliers of benzoic acid imports to Iran, with a combined 60% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Bulgaria (with a CAGR of 0.0%), while imports for the other leaders experienced a decline.

In value terms, Turkey ($X), Bulgaria ($X) and India ($X) were the largest benzoic acid suppliers to Iran, together comprising 57% of total imports.

Turkey, with a CAGR of +1.5%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average benzoic acid import price stood at $X per ton in 2021, surging by 140% against the previous year. Overall, the import price saw resilient growth. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+7.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for benzoic acid, its salts and esters in the world?

The countries with the highest volumes of benzoic acid consumption in 2021 were China, the United States and India, with a combined 48% share of global consumption. These countries were followed by Japan, Germany, Indonesia, Mexico, Turkey, South Korea, Canada, Brazil, Saudi Arabia and Thailand, which together accounted for a further 29%.

What are the largest producers of benzoic acid, its salts and esters in the world?

The country with the largest volume of benzoic acid production was China, comprising approx. 34% of total volume. Moreover, benzoic acid production in China exceeded the figures recorded by the second-largest producer, the Netherlands, threefold. The third position in this ranking was occupied by the United States, with a 12% share.

What are the leading suppliers of benzoic acid, its salts and esters to Iran?

In value terms, Turkey constituted the largest supplier of benzoic acid to Iran, comprising 70% of total imports. The second position in the ranking was occupied by India, with a 28% share of total imports.

What is the average export price for benzoic acid, its salts and esters in Iran?

The average benzoic acid export price stood at $2,557 per ton in 2021, reducing by -6.7% against the previous year.

What is the average import price for benzoic acid, its salts and esters in Iran?

In 2021, the average benzoic acid import price amounted to $1,847 per ton, declining by -7.3% against the previous year.

This report provides an in-depth analysis of the benzoic acid market in Iran. 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:

Iran

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Iran
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:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
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. 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. 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. 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. 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. 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. 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. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
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
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