Japan - Benzoic Acid, Its Salts And Esters - Market Analysis, Forecast, Size, Trends And Insights
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View PricingBenzoic Acid Price in Japan - 2023
Contents:
- Benzoic Acid Price in Japan (CIF) - 2023
- Benzoic Acid Price in Japan (FOB) - 2022
- Benzoic Acid Imports in Japan
- Benzoic Acid Exports in Japan
Benzoic Acid Price in Japan (CIF) - 2023
The average benzoic acid import price stood at $2,269 per ton in July 2023, picking up by 3.8% against the previous month. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in June 2023 an increase of 13% month-to-month. Over the period under review, average import prices hit record highs in July 2023.
There were significant differences in the average prices amongst the major supplying countries. In July 2023, the country with the highest price was the United States ($5,426 per ton), while the price for China ($1,741 per ton) was amongst the lowest.
From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by Estonia (+4.2%), while the prices for the other major suppliers experienced a decline.
Benzoic Acid Price in Japan (FOB) - 2022
In 2022, the average benzoic acid export price amounted to $14,315 per ton, picking up by 4.9% against the previous year. Overall, the export price, however, showed a noticeable reduction. The pace of growth appeared the most rapid in 2016 an increase of 28% against the previous year. Over the period under review, the average export prices hit record highs at $23,175 per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Vietnam ($75,187 per ton), while the average price for exports to Indonesia ($3,811 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 Vietnam (+19.7%), while the prices for the other major destinations experienced mixed trend patterns.
Benzoic Acid Imports in Japan
In 2022, imports of benzoic acid, its salts and esters into Japan rose rapidly to 7.7K tons, surging by 13% on 2021 figures. The total import volume increased at an average annual rate of +1.8% from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, benzoic acid imports soared to $16M in 2022. In general, total imports indicated a prominent increase from 2019 to 2022: its value increased at an average annual rate of +8.9% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +64.4% 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 Japan (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Netherlands | 6.5 | 5.2 | 6.1 | 8.7 | 10.2% |
| China | 2.5 | 2.2 | 4.2 | 4.4 | 20.7% |
| Estonia | 1.6 | 1.2 | 1.0 | 1.7 | 2.0% |
| United States | 1.4 | 0.7 | 0.6 | 0.7 | -20.6% |
| Others | 0.1 | 0.2 | 0.2 | 0.1 | 0.0% |
| Total | 12.1 | 9.5 | 12.1 | 15.6 | 8.8% |
Top Suppliers of Benzoic Acid to Japan in 2022:
- Netherlands (4.7K tons)
- China (2.2K tons)
- Estonia (0.6K tons)
- United States (0.2K tons)
Benzoic Acid Exports in Japan
In 2022, the amount of benzoic acid, its salts and esters exported from Japan declined significantly to 251 tons, with a decrease of -32.2% against 2021 figures. Overall, exports, however, enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 99.9%. As a result, the exports reached the peak of 371 tons, and then plummeted in the following year.
In value terms, benzoic acid exports fell sharply to $3.6M in 2022. Over the period under review, total exports indicated a prominent increase from 2019 to 2022: its value increased at an average annual rate of +5.1% 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 +16.2% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 52% against the previous year. As a result, the exports attained the peak of $5.1M, and then shrank sharply in the following year.
| Export of Benzoic Acid in Japan (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 1,498 | 1,609 | 2,881 | 2,129 | 12.4% |
| Vietnam | 135 | 368 | 262 | 406 | 44.3% |
| United States | 236 | 246 | 747 | 192 | -6.6% |
| Hong Kong SAR | 121 | 112 | 234 | 186 | 15.4% |
| Indonesia | 106 | 81.2 | 170 | 182 | 19.7% |
| Thailand | 271 | 411 | 223 | 140 | -19.8% |
| South Korea | 542 | 328 | 364 | 117 | -40.0% |
| India | 37.5 | 38.4 | 29.3 | 107 | 41.8% |
| Malaysia | 119 | 99.9 | 46.6 | 40.2 | -30.4% |
| Taiwan (Chinese) | 4.3 | 3.0 | 55.8 | 21.9 | 72.1% |
| Others | 24.5 | 33.7 | 43.4 | 74.4 | 44.8% |
| Total | 3,095 | 3,331 | 5,056 | 3,596 | 5.1% |
Top Export Markets for Benzoic Acid from Japan in 2022:
- China (123.4 tons)
- Indonesia (47.7 tons)
- Thailand (16.8 tons)
- United States (14.9 tons)
- Hong Kong SAR (13.8 tons)
- India (12.6 tons)
- Vietnam (5.4 tons)
- Taiwan (Chinese) (4.9 tons)
- Malaysia (3.6 tons)
- South Korea (2.5 tons)
This report provides an in-depth analysis of the benzoic acid market in Japan. 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:
- Japan
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Japan
- 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
-
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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