Report Update: Apr 1, 2024

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

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Benzoic Acid Price in Italy - 2023

Benzoic Acid Price in Italy (CIF) - 2023

In June 2023, the average benzoic acid import price amounted to $2,356 per ton, with a decrease of -13.8% against the previous month. Over the period under review, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in May 2023 an increase of 18% m-o-m. As a result, import price attained the peak level of $2,732 per ton, and then fell in the following month.

There were significant differences in the average prices amongst the major supplying countries. In June 2023, the country with the highest price was Germany ($8,240 per ton), while the price for China ($1,528 per ton) was amongst the lowest.

From June 2022 to June 2023, the most notable rate of growth in terms of prices was attained by Germany (+7.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Benzoic Acid Price in Italy (FOB) - 2023

The average benzoic acid export price stood at $4,005 per ton in June 2023, waning by -67.8% against the previous month. Overall, the export price recorded a noticeable slump. The growth pace was the most rapid in May 2023 an increase of 127% against the previous month. As a result, the export price attained the peak level of $12,426 per ton, and then contracted markedly in the following month.

Prices varied noticeably by the country of destination: the country with the highest price was Turkey ($6,207 per ton), while the average price for exports to the United States ($3,553 per ton) was amongst the lowest.

From June 2022 to June 2023, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+1.7%), while the prices for the other major destinations experienced more modest paces of growth.

Benzoic Acid Imports in Italy

In 2022, after two years of decline, there was significant growth in purchases abroad of benzoic acid, its salts and esters, when their volume increased by 16% to 16K tons. Over the period under review, imports, however, continue to indicate a mild curtailment.

In value terms, benzoic acid imports surged to $39M in 2022. Overall, total imports indicated a strong increase from 2019 to 2022: its value increased at an average annual rate of +12.3% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +65.9% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Import of Benzoic Acid in Italy (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Netherlands	18.3	17.7	15.6	24.6	10.4%
Belgium	2.6	0.6	3.2	4.4	19.2%
China	1.8	1.3	2.8	3.6	26.0%
Estonia	0.6	1.2	1.3	2.3	56.5%
Germany	1.9	0.4	0.9	1.4	-9.7%
Others	2.3	2.4	1.3	2.8	6.8%
Total	27.5	23.5	25.1	39.0	12.4%

Top Suppliers of Benzoic Acid to Italy in 2022:

Netherlands (11.2K tons)
Belgium (1.4K tons)
China (1.4K tons)
Estonia (0.8K tons)
Germany (0.4K tons)

Benzoic Acid Exports in Italy

In 2022, benzoic acid exports from Italy surged to 4.1K tons, growing by 35% against the year before. In general, total exports indicated a resilient expansion from 2019 to 2022: its volume increased at an average annual rate of +9.2% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +85.0% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 37% against the previous year. The exports peaked in 2022 and are likely to see steady growth in years to come.

In value terms, benzoic acid exports soared to $21M in 2022. Over the period under review, exports posted a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Export of Benzoic Acid in Italy (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United States	1,258	1,714	2,622	7,095	78.0%
Germany	2,444	1,251	1,879	3,378	11.4%
China	422	178	1,191	1,523	53.4%
Spain	788	455	886	1,177	14.3%
France	891	978	446	921	1.1%
Netherlands	431	369	243	894	27.5%
Turkey	352	147	263	819	32.5%
Brazil	59.4	33.7	72.2	809	138.8%
Slovenia	148	81.8	509	468	46.8%
Poland	339	573	913	453	10.1%
Russia	83.5	452	134	410	70.0%
United Kingdom	671	225	295	311	-22.6%
Switzerland	167	193	199	268	17.1%
Others	1,283	1,391	3,419	2,891	31.1%
Total	9,337	8,043	13,073	21,417	31.9%

Top Export Markets for Benzoic Acid from Italy in 2022:

United States (1292.1 tons)
Germany (731.3 tons)
China (281.5 tons)
Spain (261.8 tons)
France (221.7 tons)
Netherlands (184.0 tons)
Turkey (149.9 tons)
Brazil (147.7 tons)
Russia (126.2 tons)
Poland (112.3 tons)
United Kingdom (86.3 tons)
Slovenia (74.7 tons)
Switzerland (64.8 tons)

Source: IndexBox Market Intelligence Platform

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

Italy

Data coverage:

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

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