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India - Benzoic Acid, Its Salts And Esters - Market Analysis, Forecast, Size, Trends And Insights
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Article Publishing Date: Feb 1, 2023
India's Benzoic Acid Price Shrinks Modestly to $3,468 per Ton, Fluctuating Wildly over 2022
India Benzoic Acid Import Price in October 2022
In October 2022, the benzoic acid price amounted to $3,468 per ton (CIF, India), falling by -11.7% against the previous month. Over the period under review, import price indicated a temperate expansion from January 2022 to October 2022: its price increased at an average monthly rate of +4.1% over the last nine-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on October 2022 figures, benzoic acid import price increased by +2.5% against July 2022 indices. The pace of growth was the most pronounced in February 2022 an increase of 62% against the previous month. The import price peaked at $4,903 per ton in June 2022; however, from July 2022 to October 2022, import prices failed to regain momentum.
Average prices varied somewhat amongst the major supplying countries. In October 2022, the country with the highest price was Germany ($3,836 per ton), while the price for the Netherlands ($2,804 per ton) was amongst the lowest.
From January 2022 to October 2022, the most notable rate of growth in terms of prices was attained by China (+4.0%), while the prices for the other major suppliers experienced more modest paces of growth.
India Benzoic Acid Imports
In October 2022, overseas purchases of benzoic acid, its salts and esters decreased by -19.2% to 894 tons, falling for the second month in a row after three months of growth. In general, imports saw a abrupt contraction. The most prominent rate of growth was recorded in March 2022 when imports increased by 181% month-to-month. Over the period under review, imports reached the maximum at 2.1K tons in August 2022; however, from September 2022 to October 2022, imports stood at a somewhat lower figure.
In value terms, benzoic acid imports dropped remarkably to $3.1M (IndexBox estimates) in October 2022. Over the period under review, imports recorded a pronounced shrinkage. The pace of growth was the most pronounced in March 2022 with an increase of 112% m-o-m. Imports peaked at 7.4K tons in August 2022; however, from September 2022 to October 2022, imports remained at a lower figure.
India Benzoic Acid Imports by Country
In October 2022, China (803 tons) constituted the largest supplier of benzoic acid to India, with a 90% share of total imports. Moreover, benzoic acid imports from China exceeded the figures recorded by the second-largest supplier, Germany (61 tons), more than tenfold.
From January 2022 to October 2022, the average monthly rate of growth in terms of volume from China totaled -7.1%. The remaining supplying countries recorded the following average monthly rates of imports growth: Germany (+54.1% per month) and the Netherlands (-9.3% per month).
In value terms, China ($2.7M) constituted the largest supplier of benzoic acid to India, comprising 87% of total imports. The second position in the ranking was held by Germany ($234K), with a 7.6% share of total imports.
From January 2022 to October 2022, the average monthly growth rate of value from China stood at -3.4%. The remaining supplying countries recorded the following average monthly rates of imports growth: Germany (+49.0% per month) and the Netherlands (-8.2% per month).
Factors Affecting Benzoic Acid Prices
Benzoic acid is a white, powdery substance that is used as a preservative in food and cosmetics. It is also used in the manufacture of plastics and dyes. In India, benzoic acid prices have been rising due to increased demand from these industries.
The Indian government has imposed a minimum price for benzoic acid to protect domestic producers. However, this has not stoped the rising prices of benzoic acid in India. Factors such as the growing middle class and the rise of online shopping have resulted in increased demand for cosmetics and processed foods, which use benzoic acid as a preservative.
This report provides an in-depth analysis of the benzoic acid market in India. 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:
• India
Data coverage:
• Market volume and value
• Per Capita consumption
• Forecast of the market dynamics in the medium term
• Trade (exports and imports) in India
• 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. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
2.1
KEY FINDINGS
2.2
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
3.1
MARKET SIZE
3.2
MARKET STRUCTURE
3.3
TRADE BALANCE
3.4
PER CAPITA CONSUMPTION
3.5
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
TOP EXPORTING COUNTRIES
5.4
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
7.1
PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
8.1
IMPORTS FROM 2012–2022
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
9.1
EXPORTS FROM 2012–2022
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
LIST OF TABLES
Table 1:
Key Findings In 2022
Table 2:
Market Volume, In Physical Terms, 2012–2022
Table 3:
Market Value, 2012–2022
Table 4:
Per Capita Consumption In 2007-2022
Table 5:
Imports, In Physical Terms, By Country, 2012–2022
Table 6:
Imports, In Value Terms, By Country, 2012–2022
Table 7:
Import Prices, By Country Of Origin, 2012–2022
Table 8:
Exports, In Physical Terms, By Country, 2012–2022
Table 9:
Exports, In Value Terms, By Country, 2012–2022
Table 10:
Export Prices, By Country Of Destination, 2012–2022
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2012–2022
Figure 2:
Market Value, 2012–2022
Figure 3:
Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2007-2022
Figure 4:
Market Structure – Domestic Supply vs. Imports, In Value Terms, 2007-2022
Figure 5:
Trade Balance, In Physical Terms, 2007-2022
Figure 6:
Trade Balance, In Value Terms, 2007-2022
Figure 7:
Per Capita Consumption, 2007-2022
Figure 8:
Market Forecast To 2030
Figure 9:
Products: Market Size And Growth, By Type
Figure 10:
Products: Average Per Capita Consumption, By Type
Figure 11:
Products: Exports And Growth, By Type
Figure 12:
Products: Export Prices And Growth, By Type
Figure 13:
Production Volume And Growth
Figure 14:
Exports And Growth
Figure 15:
Export Prices And Growth
Figure 16:
Market Size And Growth
Figure 17:
Per Capita Consumption
Figure 18:
Imports And Growth
Figure 19:
Import Prices
Figure 20:
Production, In Physical Terms, 2012–2022
Figure 21:
Production, In Value Terms, 2012–2022
Figure 22:
Imports, In Physical Terms, 2012–2022
Figure 23:
Imports, In Value Terms, 2012–2022
Figure 24:
Imports, In Physical Terms, By Country, 2022
Figure 25:
Imports, In Physical Terms, By Country, 2012–2022
Figure 26:
Imports, In Value Terms, By Country, 2012–2022
Figure 27:
Import Prices, By Country Of Origin, 2012–2022
Figure 28:
Exports, In Physical Terms, 2012–2022
Figure 29:
Exports, In Value Terms, 2012–2022
Figure 30:
Exports, In Physical Terms, By Country, 2022
Figure 31:
Exports, In Physical Terms, By Country, 2012–2022
Figure 32:
Exports, In Value Terms, By Country, 2012–2022
Figure 33:
Export Prices, By Country Of Destination, 2012–2022
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