Report Update Nov 1, 2024

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

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Myanmar: Benzoic Acid Market 2024

Benzoic Acid Market Size in Myanmar

In 2021, the Myanmar's benzoic acid market increased by 24% to $X, rising for the fourth consecutive year after three years of decline. Overall, consumption posted a prominent expansion. Benzoic acid consumption peaked in 2021 and is expected to retain growth in the near future.

Benzoic Acid Exports

Exports from Myanmar

In 2021, benzoic acid exports from Myanmar was estimated at less than X kg, stabilizing at the previous year. In general, exports saw a relatively flat trend pattern.

In value terms, benzoic acid exports totaled less than $X in 2021. Over the period under review, exports saw a relatively flat trend pattern.

Benzoic Acid Imports

Imports into Myanmar

Benzoic acid imports into Myanmar surged to X tons in 2021, rising by 45% compared with the previous year's figure. In general, imports posted a buoyant increase. The most prominent rate of growth was recorded in 2019 when imports increased by 63% against the previous year. Over the period under review, imports hit record highs in 2021 and are likely to continue growth in years to come.

In value terms, benzoic acid imports surged to $X in 2021. Overall, imports posted a resilient increase. The pace of growth was the most pronounced in 2019 when imports increased by 69%. Over the period under review, imports reached the maximum in 2021 and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) was the main benzoic acid supplier to Myanmar, with a 93% share of total imports. Moreover, benzoic acid imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X tons), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +17.4%.

In value terms, China ($X) constituted the largest supplier of benzoic acid, its salts and esters to Myanmar, comprising 81% of total imports. The second position in the ranking was held by Thailand ($X), with a 7.9% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +6.0%.

Import Prices by Country

The average benzoic acid import price stood at $X per ton in 2021, which is down by -14.3% against the previous year. In general, the import price showed a deep contraction. The most prominent rate of growth was recorded in 2020 an increase of 11% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

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 Thailand ($X per ton), while the price for China totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+0.6%), while the prices for the other major suppliers experienced a decline.

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, accounting for 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 Myanmar?

In value terms, India constituted the largest supplier of benzoic acid to Myanmar.

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

The average benzoic acid import price stood at $3,584 per ton in 2021, picking up by 217% against the previous year.

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

Myanmar

Data coverage:

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