U.S. - Benzoic Acid, Its Salts And Esters - Market Analysis, Forecast, Size, Trends And Insights
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View PricingBenzoic Acid Price in the United States - 2023
Contents:
- Benzoic Acid Price in the United States (CIF) - 2022
- Benzoic Acid Price in the United States (FOB) - 2022
- Benzoic Acid Imports in the United States
- Benzoic Acid Exports in the United States
Benzoic Acid Price in the United States (CIF) - 2022
In 2022, the average benzoic acid import price amounted to $2,035 per ton, picking up by 30% against the previous year. Over the period under review, the import price, however, showed a mild descent. The import price peaked at $2,494 per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was France ($5,324 per ton), while the price for Estonia ($1,334 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+8.2%), while the prices for the other major suppliers experienced more modest paces of growth.
Benzoic Acid Price in the United States (FOB) - 2022
The average benzoic acid export price stood at $3,734 per ton in 2022, picking up by 22% against the previous year. Over the last decade, it increased at an average annual rate of +1.8%. The pace of growth was the most pronounced in 2016 when the average export price increased by 29%. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in the near future.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was South Korea ($6,598 per ton), while the average price for exports to Costa Rica ($2,660 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 South Korea (+8.2%), while the prices for the other major destinations experienced more modest paces of growth.
Benzoic Acid Imports in the United States
In 2022, approx. 48K tons of benzoic acid, its salts and esters were imported into the United States; increasing by 2.3% compared with 2021. In general, total imports indicated a buoyant increase from 2019 to 2022: its volume increased at an average annual rate of +13.2% 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 +45.0% against 2019 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 31% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the near future.
In value terms, benzoic acid imports surged to $98M in 2022. Over the period under review, imports saw significant growth. The growth pace was the most rapid in 2021 when imports increased by 41%. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.
| Import of Benzoic Acid in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 18.2 | 14.8 | 23.1 | 26.9 | 13.9% |
| Estonia | 15.1 | 15.0 | 19.4 | 26.1 | 20.0% |
| Netherlands | 13.4 | 12.8 | 15.2 | 23.5 | 20.6% |
| Italy | 1.2 | 1.1 | 2.2 | 7.1 | 80.9% |
| Canada | 3.6 | 3.4 | 3.6 | 4.6 | 8.5% |
| India | 1.1 | 1.4 | 3.8 | 4.4 | 58.7% |
| Others | 3.7 | 3.5 | 5.9 | 4.9 | 9.8% |
| Total | 56.3 | 52.1 | 73.2 | 97.6 | 20.1% |
Top Suppliers of Benzoic Acid to the United States in 2022:
- Estonia (19.6K tons)
- China (12.6K tons)
- Netherlands (11.3K tons)
- Italy (1.4K tons)
- India (1.1K tons)
- Canada (1.0K tons)
Benzoic Acid Exports in the United States
In 2022, the amount of benzoic acid, its salts and esters exported from the United States rose sharply to 19K tons, growing by 7% against 2021. The total export volume increased at an average annual rate of +3.3% from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when exports increased by 17% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.
In value terms, benzoic acid exports surged to $73M in 2022. Overall, total exports indicated a remarkable increase from 2019 to 2022: its value increased at an average annual rate of +12.7% 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 +63.4% against 2020 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
| Export of Benzoic Acid in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Brazil | 7.0 | 6.3 | 10.6 | 22.8 | 48.2% |
| Mexico | 8.5 | 7.2 | 8.4 | 9.7 | 4.5% |
| Canada | 9.4 | 9.0 | 9.9 | 9.1 | -1.1% |
| Germany | 2.2 | 1.8 | 2.6 | 3.1 | 12.1% |
| South Korea | 1.9 | 1.1 | 2.0 | 2.5 | 9.6% |
| Netherlands | 1.7 | 2.7 | 1.8 | 2.1 | 7.3% |
| Vietnam | 1.0 | 0.9 | 1.4 | 2.0 | 26.0% |
| Singapore | 1.5 | 1.4 | 1.1 | 1.5 | 0.0% |
| Philippines | 1.4 | 1.6 | 1.6 | 1.5 | 2.3% |
| Costa Rica | 0.5 | 0.7 | 1.1 | 1.3 | 37.5% |
| Thailand | 1.9 | 1.5 | 2.2 | 1.3 | -11.9% |
| Guatemala | 0.7 | 0.6 | 0.7 | 1.1 | 16.3% |
| India | 0.5 | 0.3 | 0.3 | 0.9 | 21.6% |
| Others | 12.6 | 9.7 | 12.1 | 13.8 | 3.1% |
| Total | 50.8 | 44.5 | 55.8 | 72.8 | 12.7% |
Top Export Markets for Benzoic Acid from the United States in 2022:
- Brazil (6.9K tons)
- Mexico (2.8K tons)
- Canada (2.3K tons)
- Germany (0.8K tons)
- Vietnam (0.6K tons)
- Netherlands (0.5K tons)
- Singapore (0.5K tons)
- Costa Rica (0.5K tons)
- Philippines (0.4K tons)
- South Korea (0.4K tons)
- India (0.3K tons)
- Guatemala (0.3K tons)
- Thailand (0.3K tons)
This report provides an in-depth analysis of the benzoic acid market in the U.S.. 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:
- United States
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in the U.S.
- 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
-
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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