China - Benzoic Acid, Its Salts And Esters - Market Analysis, Forecast, Size, Trends And Insights
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Contents:
- Benzoic Acid Price in China (FOB) - 2023
- Benzoic Acid Price in China (CIF) - 2022
- Benzoic Acid Exports in China
- Benzoic Acid Imports in China
Benzoic Acid Price in China (FOB) - 2023
The average benzoic acid export price stood at $1,274 per ton in June 2023, approximately reflecting the previous month. Overall, the export price saw a perceptible contraction. The pace of growth appeared the most rapid in March 2023 when the average export price increased by 2.7% month-to-month. The export price peaked at $1,795 per ton in June 2022; however, from July 2022 to June 2023, the export prices remained at a lower figure.
Average prices varied somewhat for the major foreign markets. In June 2023, the highest price was recorded for prices to Thailand ($1,502 per ton) and the United States ($1,388 per ton), while the average price for exports to Russia ($1,116 per ton) and Turkey ($1,134 per ton) were amongst the lowest.
From June 2022 to June 2023, the most notable rate of growth in terms of prices was recorded for supplies to India (-0.5%), while the prices for the other major destinations experienced a decline.
Benzoic Acid Price in China (CIF) - 2022
The average benzoic acid import price stood at $4,872 per ton in 2022, growing by 107% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The import price peaked at $5,227 per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($17,478 per ton), while the price for the Netherlands ($1,969 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Rwanda (+26.6%), while the prices for the other major suppliers experienced more modest paces of growth.
Benzoic Acid Exports in China
In 2022, overseas shipments of benzoic acid, its salts and esters decreased by -8.4% to 107K tons for the first time since 2018, thus ending a three-year rising trend. The total export volume increased at an average annual rate of +5.7% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 26% against the previous year. As a result, the exports attained the peak of 117K tons, and then contracted in the following year.
In value terms, benzoic acid exports rose rapidly to $175M in 2022. Overall, total exports indicated resilient growth from 2019 to 2022: its value increased at an average annual rate of +13.9% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +74.3% against 2020 indices. The growth pace was the most rapid in 2021 when exports increased by 58%. The exports peaked in 2022 and are likely to see steady growth in the near future.
| Export of Benzoic Acid in China (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 15.3 | 13.8 | 24.6 | 19.4 | 8.2% |
| Indonesia | 5.6 | 5.2 | 8.7 | 10.4 | 22.9% |
| India | 6.5 | 5.7 | 8.8 | 9.8 | 14.7% |
| Mexico | 6.0 | 5.0 | 8.6 | 9.7 | 17.4% |
| Netherlands | 15.2 | 9.5 | 5.9 | 8.2 | -18.6% |
| South Korea | 4.0 | 3.5 | 6.6 | 7.9 | 25.5% |
| Japan | 3.7 | 2.3 | 3.8 | 7.7 | 27.7% |
| Brazil | 5.0 | 5.3 | 7.5 | 7.2 | 12.9% |
| Turkey | 3.5 | 2.5 | 8.8 | 7.0 | 26.0% |
| Russia | 3.6 | 3.4 | 5.6 | 6.9 | 24.2% |
| Thailand | 3.2 | 3.4 | 5.4 | 6.8 | 28.6% |
| Vietnam | 2.1 | 1.9 | 4.0 | 3.6 | 19.7% |
| Malaysia | 1.6 | 1.7 | 2.4 | 3.3 | 27.3% |
| Others | 42.8 | 37.0 | 58.0 | 66.7 | 15.9% |
| Total | 118 | 100 | 159 | 175 | 14.0% |
Top Export Markets for Benzoic Acid from China in 2022:
- United States (10.4K tons)
- India (7.2K tons)
- Indonesia (6.3K tons)
- Mexico (5.9K tons)
- Turkey (5.6K tons)
- Netherlands (5.0K tons)
- Russia (4.9K tons)
- Japan (4.8K tons)
- South Korea (4.5K tons)
- Brazil (4.4K tons)
- Thailand (4.2K tons)
- Vietnam (2.2K tons)
- Malaysia (1.9K tons)
Benzoic Acid Imports in China
After three years of growth, overseas purchases of benzoic acid, its salts and esters decreased by -66.8% to 2.7K tons in 2022. In general, imports, however, posted a prominent expansion. The most prominent rate of growth was recorded in 2020 when imports increased by 218% against the previous year.
In value terms, benzoic acid imports dropped remarkably to $13M in 2022. Overall, imports, however, enjoyed a buoyant expansion. The pace of growth appeared the most rapid in 2020 with an increase of 78%.
| Import of Benzoic Acid in China (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 0.6 | 0.9 | 1.4 | 2.1 | 51.8% |
| Japan | 1.6 | 1.8 | 2.3 | 2.1 | 9.5% |
| Netherlands | 1.2 | 8.3 | 8.8 | 1.9 | 16.6% |
| Italy | 0.1 | 0.2 | 1.0 | 1.1 | 122.4% |
| Rwanda | N/A | N/A | 0.1 | 1.1 | 1000.0% |
| Estonia | 0.8 | 0.5 | 1.5 | 0.4 | -20.6% |
| France | N/A | N/A | 0.2 | 0.4 | 100.0% |
| Taiwan (Chinese) | 2.8 | N/A | N/A | N/A | 0% |
| Others | 1.0 | 3.0 | 4.3 | 4.2 | 61.3% |
| Total | 8.2 | 14.7 | 19.4 | 13.3 | 17.5% |
Top Suppliers of Benzoic Acid to China in 2022:
- Netherlands (970.7 tons)
- United States (334.1 tons)
- Italy (197.7 tons)
- France (127.2 tons)
- Estonia (126.8 tons)
- Japan (119.3 tons)
- Rwanda (87.8 tons)
This report provides an in-depth analysis of the benzoic acid market in China. 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:
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in China
- 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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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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
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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