Sodium Benzoate Price in USA

United States: 1310 USD/MT

In the fourth quarter of 2023, there was a notable fluctuation in the sodium benzoate market within the United States, reaching its peak price at 1310 USD per metric ton.

The latest report by IMARC Group, titled "Sodium Benzoate Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data," provides a thorough examination of sodium benzoate price trend. This report delves into the price of sodium benzoate globally, presenting a detailed analysis, along with informative sodium benzoate price chart. Through comprehensive sodium benzoate price analysis, the report sheds light on the key factors influencing these trends. Additionally, it includes historical data to offer context and depth to the current pricing landscape. The report also explores the sodium benzoate demand, analyzing how it impacts market dynamics. To aid in strategic planning, the price forecast section provides insights into price forecast, making this report an invaluable resource for industry stakeholders.

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.

Sodium Benzoate Market Analysis

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 trend. 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.

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

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

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