United States Benzoic Acid Prices Movement Q2

Benzoic Acid Prices in USA:

In June 2024, the Prices of Benzoic Acid in the United States reached $1,240 per metric ton. This was a significant drop in price, mainly due to several factors. First, there were high levels of imports, meaning more supply in the market. At the same time, demand for the product was lower than expected. Freight costs also decreased, which helped reduce overall expenses for suppliers. Additionally, the stronger value of the U.S. dollar made imports more affordable, and there were plenty of existing stocks from previous purchases. Despite the usual rise in demand during the season, these factors led to a subdued market and lower prices.

Benzoic Acid Prices in China:

In June 2024, the price of benzoic acid in China reached $1,140 per metric ton. The market experienced significant price increases due to several factors. First, both domestic and international demand for benzoic acid was strong, putting pressure on the supply. At the same time, rising energy costs and higher freight expenses contributed to the overall price rise. The situation worsened when a major production shutdown occurred, reducing the availability of the product. However, at the start of the quarter, there was an excess of inventory, which temporarily helped lower prices as companies worked to manage their stock levels before the supply issues became more serious.

Benzoic Acid Prices in Germany:

In June 2024, the price of benzoic acid in Germany reached $1,260 per metric ton. The market faced inflationary pressures, with higher costs for raw materials (feedstocks) and delays in transportation, which affected supply chains. While prices initially fell because there were large amounts of stock available, the situation changed as the U.S. dollar continued to strengthen, making imports more expensive. Additionally, as seasonal demand increased, these factors combined to create fluctuations in the price throughout the quarter.

How IMARC Pricing Database Can Help

The latest IMARC Group study, “Benzoic Acid Prices, Trend, Chart, Demand, Market Analysis, News, Historical and Forecast Data 2024 Edition,” presents a detailed analysis of Benzoic Acid price trend, offering key insights into global Benzoic Acid market dynamics. This report includes comprehensive price charts, which trace historical data and highlights major shifts in the market.

The analysis delves into the factors driving these trends, including raw material costs, production fluctuations, and geopolitical influences. Moreover, the report examines Benzoic Acid demand, illustrating how consumer behavior and industrial needs affect overall market dynamics. By exploring the intricate relationship between supply and demand, the prices report uncovers critical factors influencing current and future prices.

Request to Get the Sample Report: https://www.imarcgroup.com/benzoic-acid-pricing-report/requestsample

 
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