Malaysia - Benzoic Acid, Its Salts And Esters - Market Analysis, Forecast, Size, Trends And Insights
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View PricingBenzoic Acid Price in Malaysia - 2021
Contents:
- Benzoic Acid Price in Malaysia (CIF) - 2021
- Benzoic Acid Price in Malaysia (FOB) - 2022
- Benzoic Acid Imports in Malaysia
- Benzoic Acid Exports in Malaysia
Benzoic Acid Price in Malaysia (CIF) - 2021
In December 2021, the average benzoic acid import price amounted to $2,134 per ton, increasing by 4.7% against the previous month. Over the period under review, import price indicated a notable increase from December 2020 to December 2021: its price increased at an average monthly rate of +2.3% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on December 2021 figures, benzoic acid import price decreased by -31.9% against October 2021 indices. The most prominent rate of growth was recorded in September 2021 an increase of 46% against the previous month. Over the period under review, average import prices reached the peak figure at $3,131 per ton in October 2021; however, from November 2021 to December 2021, import prices failed to regain momentum.
Prices varied noticeably by the country of origin: the country with the highest price was the Netherlands ($3,475 per ton), while the price for China ($1,795 per ton) was amongst the lowest.
From December 2020 to December 2021, the most notable rate of growth in terms of prices was attained by China (+3.1%), while the prices for the other major suppliers experienced more modest paces of growth.
Benzoic Acid Price in Malaysia (FOB) - 2022
The average benzoic acid export price stood at $2,917 per ton in 2022, picking up by 9.6% against the previous year. In general, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the average export price increased by 41%. As a result, the export price attained the peak level of $3,887 per ton. From 2019 to 2022, the average 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 the Philippines ($3,663 per ton), while the average price for exports to Taiwan (Chinese) ($1,687 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 Indonesia (+2.4%), while the prices for the other major destinations experienced mixed trend patterns.
Benzoic Acid Imports in Malaysia
In 2022, approx. 2.6K tons of benzoic acid, its salts and esters were imported into Malaysia; picking up by 9.5% on the year before. Overall, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2020 when imports increased by 10%. As a result, imports reached the peak of 2.8K tons. From 2021 to 2022, the growth of imports failed to regain momentum.
In value terms, benzoic acid imports rose notably to $4.8M in 2022. The total import value increased at an average annual rate of +1.3% from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2020 when imports increased by 14%. As a result, imports attained the peak of $5.3M. From 2021 to 2022, the growth of imports remained at a lower figure.
Import of Benzoic Acid in Malaysia (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
China | 1,723 | 2,488 | 2,261 | 2,385 | 11.4% |
United States | 1,004 | 1,144 | 633 | 837 | -5.9% |
Netherlands | 964 | 699 | 764 | 806 | -5.8% |
Germany | 259 | 99.1 | 235 | 248 | -1.4% |
Switzerland | 161 | 234 | 159 | 166 | 1.0% |
Others | 546 | 631 | 346 | 403 | -9.6% |
Total | 4,657 | 5,296 | 4,398 | 4,847 | 1.3% |
Top Suppliers of Benzoic Acid to Malaysia in 2022:
- China (1636.6 tons)
- Netherlands (369.0 tons)
- United States (322.8 tons)
- Switzerland (101.4 tons)
- Germany (51.6 tons)
Benzoic Acid Exports in Malaysia
Benzoic acid exports from Malaysia rose sharply to 151 tons in 2022, surging by 9.9% compared with 2021. In general, exports enjoyed a significant increase. The most prominent rate of growth was recorded in 2020 when exports increased by 143% against the previous year. As a result, the exports attained the peak of 164 tons. From 2021 to 2022, the growth of the exports failed to regain momentum.
In value terms, benzoic acid exports soared to $442K in 2022. Overall, total exports indicated a significant expansion from 2019 to 2022: its value increased at an average annual rate of +20.6% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -14.5% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of 105%. As a result, the exports reached the peak of $516K. From 2021 to 2022, the growth of the exports remained at a lower figure.
Export of Benzoic Acid in Malaysia (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Singapore | 124 | 155 | 142 | 238 | 24.3% |
Hong Kong SAR | 17.6 | 56.8 | 40.3 | 67.6 | 56.6% |
Thailand | 41.2 | 53.7 | 4.0 | 49.2 | 6.1% |
China | 11.2 | 1.5 | 18.7 | 31.4 | 41.0% |
Indonesia | 25.1 | 8.5 | 2.9 | 18.1 | -10.3% |
Philippines | 14.6 | 8.8 | 10.4 | 17.3 | 5.8% |
Taiwan (Chinese) | 3.2 | 3.1 | 4.4 | 7.5 | 32.8% |
United States | N/A | 198 | 98.6 | N/A | -50.2% |
Others | 14.6 | 30.1 | 45.5 | 12.9 | -4.0% |
Total | 251 | 516 | 367 | 442 | 20.8% |
Top Export Markets for Benzoic Acid from Malaysia in 2022:
- Singapore (77.2 tons)
- Thailand (24.2 tons)
- Hong Kong SAR (19.3 tons)
- China (10.7 tons)
- Indonesia (8.0 tons)
- Philippines (4.7 tons)
- Taiwan (Chinese) (4.4 tons)
This report provides an in-depth analysis of the benzoic acid market in Malaysia. 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:
- Malaysia
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Malaysia
- 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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