Report Update: Apr 1, 2024

Indonesia - Benzoic Acid, Its Salts And Esters - Market Analysis, Forecast, Size, Trends And Insights

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Benzoic Acid Price in Indonesia - 2022

Benzoic Acid Price in Indonesia (CIF) - 2022

In 2022, the average benzoic acid import price amounted to $2,248 per ton, growing by 37% against the previous year. Over the last decade, it increased at an average annual rate of +1.6%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($3,539 per ton), while the price for China ($1,881 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+5.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Benzoic Acid Price in Indonesia (FOB) - 2022

In 2022, the average benzoic acid export price amounted to $2,672 per ton, growing by 2% against the previous year. In general, the export price, however, continues to indicate a noticeable descent. The growth pace was the most rapid in 2015 an increase of 7.2%. The export price peaked at $3,987 per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was China ($9,484 per ton), while the average price for exports to Pakistan ($1,583 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+9.5%), while the prices for the other major destinations experienced more modest paces of growth.

Benzoic Acid Imports in Indonesia

For the fourth consecutive year, Indonesia recorded growth in purchases abroad of benzoic acid, its salts and esters, which increased by 55% to 14K tons in 2022. Overall, imports continue to indicate a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, benzoic acid imports soared to $31M in 2022. In general, imports continue to indicate significant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Import of Benzoic Acid in Indonesia (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	5.3	5.4	8.7	17.8	49.8%
Netherlands	4.6	5.2	4.4	9.6	27.8%
United States	0.6	1.0	0.7	1.6	38.7%
Others	1.1	0.9	0.8	1.9	20.0%
Total	11.6	12.4	14.6	30.8	38.5%

Top Suppliers of Benzoic Acid to Indonesia in 2022:

China (9.4K tons)
Netherlands (3.4K tons)
United States (0.4K tons)

Benzoic Acid Exports in Indonesia

In 2022, approx. 16 tons of benzoic acid, its salts and esters were exported from Indonesia; waning by -37.3% compared with 2021. Overall, exports saw a deep contraction. The most prominent rate of growth was recorded in 2021 with an increase of 294% against the previous year. As a result, the exports attained the peak of 25 tons, and then reduced sharply in the following year.

In value terms, benzoic acid exports contracted significantly to $43K in 2022. In general, exports faced a abrupt setback. The most prominent rate of growth was recorded in 2021 when exports increased by 259% against the previous year.

Export of Benzoic Acid in Indonesia (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
India	6.3	0.9	10.1	19.8	46.5%
Pakistan	4.5	11.5	5.8	12.4	40.2%
Singapore	3.9	4.1	3.6	7.1	22.1%
China	4.3	0.1	0.8	2.9	-12.3%
South Korea	38.9	N/A	N/A	N/A	0%
United Kingdom	0.8	N/A	N/A	N/A	0%
Philippines	N/A	N/A	46.1	N/A	0%
Taiwan (Chinese)	15.8	N/A	N/A	N/A	0%
Others	3.2	2.1	0.2	0.5	-46.1%
Total	77.7	18.6	66.7	42.6	-18.2%

Top Export Markets for Benzoic Acid from Indonesia in 2022:

Pakistan (7.9 tons)
India (6.8 tons)
Singapore (1.0 tons)
China (0.3 tons)

Source: IndexBox Market Intelligence Platform

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

Indonesia

Data coverage:

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