Northern America: Benzoic Acid Market 2024

Benzoic Acid Market Size in Northern America

In 2022, the North American benzoic acid market increased by X% to $X, rising for the second consecutive year after two years of decline. The total consumption indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2020 indices. The level of consumption peaked in 2022 and is likely to see steady growth in the immediate term.

Benzoic Acid Production in Northern America

In value terms, benzoic acid production reduced to $X in 2022 estimated in export price. The total production indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2019 indices. The growth pace was the most rapid in 2016 with an increase of X%. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

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Benzoic Acid Exports

Exports in Northern America

In 2022, shipments abroad of benzoic acid, its salts and esters increased by X% to X tons, rising for the second year in a row after three years of decline. Over the period under review, exports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of X%. The volume of export peaked at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, benzoic acid exports skyrocketed to $X in 2022. The total export value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States prevails in exports structure, finishing at X tons, which was near X% of total exports in 2022. It was distantly followed by Canada (X tons), comprising a X% share of total exports.

The United States experienced a relatively flat trend pattern with regard to volume of exports of benzoic acid, its salts and esters. Canada (X%) illustrated a downward trend over the same period. The United States (X p.p.) significantly strengthened its position in terms of the total exports, while Canada saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, the United States ($X) remains the largest benzoic acid supplier in Northern America, comprising X% of total exports. The second position in the ranking was held by Canada ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in the United States totaled X%.

Export Prices by Country

In 2022, the export price in Northern America amounted to $X per ton, rising by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The growth pace was the most rapid in 2016 when the export price increased by X%. Over the period under review, the export prices reached the maximum in 2022 and is expected to retain growth in the immediate term.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Canada ($X per ton), while the United States stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (X%).

Benzoic Acid Imports

Imports in Northern America

In 2022, the amount of benzoic acid, its salts and esters imported in Northern America was estimated at X tons, approximately mirroring 2021 figures. Overall, imports enjoyed a resilient expansion. The pace of growth appeared the most rapid in 2021 when imports increased by X%. The volume of import peaked in 2022 and is expected to retain growth in years to come.

In value terms, benzoic acid imports skyrocketed to $X in 2022. Total imports indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of X%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the near future.

Imports by Country

The United States dominates imports structure, accounting for X tons, which was near X% of total imports in 2022. It was distantly followed by Canada (X tons), constituting an X% share of total imports.

The United States was also the fastest-growing in terms of the benzoic acid, its salts and esters imports, with a CAGR of X% from 2012 to 2022. Canada experienced a relatively flat trend pattern. While the share of the United States (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Canada (X p.p.) displayed negative dynamics.

In value terms, the United States ($X) constitutes the largest market for imported benzoic acid, its salts and esters in Northern America, comprising X% of total imports. The second position in the ranking was taken by Canada ($X), with a X% share of total imports.

In the United States, benzoic acid imports increased at an average annual rate of X% over the period from 2012-2022.

Import Prices by Country

In 2022, the import price in Northern America amounted to $X per ton, surging by X% against the previous year. Overall, the import price, however, recorded a mild contraction. Over the period under review, import prices attained the maximum at $X per ton in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Canada ($X per ton), while the United States amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (X%).

Source: IndexBox Platform

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