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Report World - Benzoic Acid, Its Salts and Esters - Market Analysis, Forecast, Size, Trends and Insights for 499$
Report Update Nov 1, 2024

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

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Global Benzoic Acid Market 2024

Benzoic Acid Market Size

After two years of decline, the global benzoic acid market increased by 2.2% to $X in 2021. The market value increased at an average annual rate of +2.0% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2016 when the market value increased by 6.6%. Over the period under review, the global market attained the maximum level at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Benzoic Acid Production

In value terms, benzoic acid production amounted to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.2% over the period from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2016 when the production volume increased by 7.9%. Over the period under review, global production reached the peak level at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Benzoic Acid Exports

Exports

In 2021, the amount of benzoic acid, its salts and esters exported worldwide expanded notably to X tons, surging by 14% on 2020 figures. The total export volume increased at an average annual rate of +5.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2017 when exports increased by 14%. Over the period under review, the global exports attained the peak figure in 2021 and are expected to retain growth in the near future.

In value terms, benzoic acid exports surged to $X in 2021. The total export value increased at an average annual rate of +2.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, the Netherlands (X tons) and China (X tons) represented the major exporters of benzoic acid, its salts and estersin the world, together making up 68% of total exports. It was distantly followed by Estonia (X tons) and the United States (X tons), together committing an 18% share of total exports. France (X tons), Romania (X tons) and Belgium (X tons) held a minor share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Romania (with a CAGR of +10.0%), while the other global leaders experienced more modest paces of growth.

In value terms, the largest benzoic acid supplying countries worldwide were the Netherlands ($X), China ($X) and Estonia ($X), with a combined 64% share of global exports. The United States, France, Belgium and Romania lagged somewhat behind, together accounting for a further 17%.

In terms of the main exporting countries, Romania, with a CAGR of +8.6%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average benzoic acid export price amounted to $X per ton, rising by 13% against the previous year. In general, the export price, however, saw a noticeable decrease. Over the period under review, the average export prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+0.9%), while the other global leaders experienced a decline in the export price figures.

Benzoic Acid Imports

Imports

In 2021, global imports of benzoic acid, its salts and esters amounted to X tons, increasing by 9.8% compared with the year before. The total import volume increased at an average annual rate of +2.9% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, benzoic acid imports surged to $X in 2021. The total import value increased at an average annual rate of +2.3% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, the United States (X tons), followed by Germany (X tons), Brazil (X tons) and India (X tons) were the largest importers of benzoic acid, its salts and esters, together achieving 32% of total imports. The following importers - Belgium (X tons), France (X tons), Italy (X tons), Mexico (X tons), Turkey (X tons), Thailand (X tons), the Netherlands (X tons), Indonesia (X tons) and China (X tons) - together made up 31% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by China (with a CAGR of +14.8%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the largest benzoic acid importing markets worldwide were the United States ($X), Germany ($X) and India ($X), together accounting for 26% of global imports. Brazil, France, Mexico, Belgium, Italy, China, Thailand, the Netherlands, Turkey and Indonesia lagged somewhat behind, together comprising a further 34%.

Turkey, with a CAGR of +7.6%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

The average benzoic acid import price stood at $X per ton in 2021, increasing by 9.3% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. Global import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was India ($X per ton), while the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+5.6%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

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%.
China constituted the country with the largest volume of benzoic acid production, 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 United States ranked third in terms of total production with a 12% share.
In value terms, the largest benzoic acid supplying countries worldwide were the Netherlands, China and Estonia, together accounting for 66% of global exports. These countries were followed by the United States, France, Belgium and Romania, which together accounted for a further 19%.
In value terms, the largest benzoic acid importing markets worldwide were the United States, Germany and Brazil, with a combined 26% share of global imports. These countries were followed by France, Mexico, Belgium, Italy, China, the Netherlands, Thailand, Turkey, Denmark and India, which together accounted for a further 34%.
The average benzoic acid export price stood at $1,778 per ton in 2021, surging by 9.9% against the previous year.
In 2021, the average benzoic acid import price amounted to $1,916 per ton, increasing by 6.1% against the previous year.

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

Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:

+ the largest producing countries

Data coverage:

  • Global market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Global production, split by region and country
  • Global trade (exports and imports)
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Company coverage:

LyondellBasell Industries Holdings B.V., BASF, Chevron Phillips Chemical Company LLC, Dhanlaxami Organics & Chemicals, ExxonMobil Corporation, Kakdiya Chemicals, Mitsubishi Chemicals, Pon Pure Chemicals, Valero Energy, Sabic, INEOS, Phillips Petroleum Co., Hydrite Chemical Co., Braskem, Mallinckrodt, Shell Canada Products, GFS Chemicals, Reagents, Rosneft, Shandong Baovi Energy Technology Co.

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. CONSUMPTION BY COUNTRY
    3. 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. GLOBAL PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE
    2. PRODUCTION BY COUNTRY

  8. 8. GLOBAL IMPORTS

    The Largest Importers on The Market and How They Succeed

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

  9. 9. GLOBAL EXPORTS

    The Largest Exporters on The Market and How They Succeed

    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. 11. COUNTRY PROFILES

    The Largest Markets And Their Profiles

    This Chapter is Available Only for the Professional Edition PRO
    • United States
    • China
    • Japan
    • Germany
    • United Kingdom
    • France
    • Brazil
    • Italy
    • Russian Federation
    • India
    • Canada
    • Australia
    • Republic of Korea
    • Spain
    • Mexico
    • Indonesia
    • Netherlands
    • Turkey
    • Saudi Arabia
    • Switzerland
    • Sweden
    • Nigeria
    • Poland
    • Belgium
    • Argentina
    • Norway
    • Austria
    • Thailand
    • United Arab Emirates
    • Colombia
    • Denmark
    • South Africa
    • Malaysia
    • Israel
    • Singapore
    • Egypt
    • Philippines
    • Finland
    • Chile
    • Ireland
    • Pakistan
    • Greece
    • Portugal
    • Kazakhstan
    • Algeria
    • Czech Republic
    • Qatar
    • Peru
    • Romania
    • Vietnam

  12. 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, By Country, 2018–2023
    5. Production, In Physical Terms, By Country, 2012–2023
    6. Imports, In Physical Terms, By Country, 2012–2023
    7. Imports, In Value Terms, By Country, 2012–2023
    8. Import Prices, By Country Of Destination, 2012–2023
    9. Exports, In Physical Terms, By Country, 2012–2023
    10. Exports, In Value Terms, By Country, 2012–2023
    11. Export Prices, By Country Of Origin, 2012–2023

  13. LIST OF FIGURES

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

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