The latest report by IMARC, titled "Sodium Benzoate Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data" delivers a comprehensive analysis of Sodium Benzoate prices on a global and regional scale, highlighting the pivotal factors contributing to price changes. This detailed examination includes spot price evaluations at key ports and an analysis of pricing structures, such as Ex Works, FOB, and CIF, across North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.


Sodium Benzoate Prices December 2023:

  • United States: 1310 USD/MT
  • China: 1207 USD/MT
  • Germany: 1305 USD/MT

 

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The study delves into the factors affecting Sodium Benzoate price variations, including alterations in the cost of raw materials, the balance of supply and demand, geopolitical influences, and sector-specific developments.

The report also incorporates the most recent updates from the market, equipping stakeholders with the latest information on market fluctuations, regulatory modifications, and technological progress. It serves as an exhaustive resource for stakeholders, enhancing strategic planning and forecast capabilities.

 

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Sodium Benzoate Price Trend- Q4 2023

The sodium benzoate market in North America, particularly in the United States, has seen a mix of moderate demand and varying supply levels that have significantly influenced market dynamics and pricing structures as of the fourth quarter of 2023. Key factors stimulating the market include the adoption of on-demand procurement strategies by downstream businesses and increased costs of essential inputs like raw materials and energy. These elements have collectively fostered a relatively stable market environment, despite fluctuations in pricing due to broader economic pressures such as inflation and potential recession fears. Additionally, proactive inventory management by companies has helped maintain a balanced market, even as global shifts in demand and supply from major exporters have introduced volatility. This blend of strategic procurement and external economic influences shapes the current state and prospects of the sodium benzoate market.

The global sodium benzoate market size reached US$ 630.8 Million in 2023. By 2032, IMARC Group expects the market to reach US$ 892.6 Million, at a projected CAGR of 3.90% during 2023-2032. In December 2023, the pricing of sodium benzoate was impacted by a confluence of factors that led to notable fluctuations across different regions. In North America, prices initially showed an upward trend due to sustained demand and increased costs for key inputs, including energy and raw materials. Businesses responded by promoting their inventory levels through significant order placements, which temporarily supported price stability. However, a subsequent drop in global prices, driven by reduced international demand and surplus supplies in major exporting countries, exerted downward pressure on U.S. Market prices. Economic uncertainties, heightened by inflation concerns and recession fears, further influenced the market, leading to cautious purchasing behaviors and a decrease in the purchasing managers' index (PMI), which signals a contraction in industrial activity.

In the Asia-Pacific region, particularly in China, the sodium benzoate market experienced different pressures. The demand increased notably due to seasonal increases in consumer spending and festive activities, pushing prices upwards. However, this was counterbalanced by strategic price reductions from local suppliers dealing with excess inventories, who lowered prices to accelerate stock clearance and prepare for new inventory arrivals. Moreover, the decline in prices of benzoic acid, a primary raw material for sodium benzoate, contributed to price reductions. This was exacerbated by a dip in demand during November, reflecting the complex interplay between supply chain dynamics and market demand in shaping price trends. In Europe, the scenario was similarly complex. Prices were generally on the rise due to strong demand from the pharmaceutical and food industries and limited supply chains strained by escalating production costs. However, specific events such as geopolitical tensions affecting shipping routes in the Red Sea and Suez Canal, and varying economic indicators like inflation rates and manufacturing sector performance, played critical roles.  

 

Browse Full Report: https://www.imarcgroup.com/sodium-benzoate-pricing-report

 

Key Points Covered in the Sodium Benzoate Pricing Report: 

The report delivers the following key findings, alongside a comprehensive breakdown of prices by region:

  • Sodium Benzoate Prices
  • Sodium Benzoate Price Trend
  • Sodium Benzoate Demand & Supply
  • Sodium Benzoate Market Analysis
  • Demand Supply Analysis by Type
  • Demand Supply Analysis by Application
  • Demand Supply Analysis of Raw Materials
  • Sodium Benzoate Price Analysis
  • Sodium Benzoate Industry Drivers, Restraints, and Opportunities
  • Sodium Benzoate News and Recent developments
  • Global Event Analysis
  • List of Key Players

 

Regional Price Analysis:

  • Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand
  • Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece
  • North America: United States and Canada
  • Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru
  • Middle East & Africa: Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco

 

Browse More Pricing Reports by IMARC Group:

 

Note: The current country list is selective, detailed insights into additional countries can be obtained for clients upon request.

 

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IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

 

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