Benzene Price in USA
- United States: 1007 USD/MT
In Q4 2023, the price of benzene in the United States reached $1,007/MT in December. Major ports hit their projected peak in import cargo volume for the year, resulting in moderate demand for benzene from downstream sectors.
The latest report by IMARC Group, titled “Benzene Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” provides a thorough examination of the Benzene Price Trend. This report delves into the Price of Benzene globally, presenting a detailed analysis, along with informative Benzene Price Chart. Through comprehensive Benzene price analysis, the report sheds light on the key factors influencing these trends. Additionally, it includes historical data to provide context and depth to the current pricing landscape. The report also explores the Benzene Prices, analyzing how it impacts market dynamics. To aid in strategic planning, the price forecast section provides insights into price forecasting, making this Benzene Prices report an invaluable resource for industry stakeholders.
Benzene Prices December 2023:
- United States: 1007 USD/MT
- South Korea: 861 USD/MT
- Saudi Arabia: 896 USD/MT
- Brazil: 835 USD/MT
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The study delves into the factors affecting Benzene 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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Benzene Price Trend- Q4 2023
The Benzene market witnessed significant fluctuations in the fourth quarter of 2023, especially in North America. A notable rise in demand from various downstream sectors, fueled by diverse end-user industries, tightened supply and led to price increases. This spike in demand, coupled with rising input costs, particularly for crucial raw materials like Toluene, further fueled the upward trajectory of prices. Additionally, economic conditions in the United States, including inflationary pressures and escalating energy prices, influenced market sentiments during this period. However, towards the end of October, prices began to decline, with the USA following suit in this downward trend. Factors contributing to this included reduced international demand leading to lower export prices and excess inventory among suppliers, highlighting challenges in stock management. Moreover, the decline in toluene prices, a vital raw material for Benzene production, intensified the broader downward trend in Benzene prices.
Benzene Market Analysis
The global benzene market size reached US$ 64.1 Billion in 2023. By 2032, IMARC Group expects the market to reach US$ 86.1 Billion, at a projected CAGR of 3.20% during 2023-2032. Meanwhile, in the APAC region, the Benzene market faced notable challenges during the fourth quarter of 2023, marked by significant price fluctuations. Factors influencing market dynamics included an increase in demand at the beginning of the quarter, followed by a decrease in demand in November, driven by the inactive economic recovery in China. However, as November commenced, there was a notable decrease in demand, leading to excess inventory and a subsequent price decline. This decline was further exacerbated by the continuous decrease in toluene prices and supply constraints observed among manufacturers.
In Europe, the Benzene market encountered challenges that impacted pricing. Initially, there was a significant decrease in demand, resulting in excess inventory and price reduction. As December approached, the market took an unforeseen turn, leading to further price decline due to reduced raw material costs and adjustment of inventory levels. Overall, these factors contributed to a challenging quarter characterized by diminished demand and oversupply, resulting in a decline in prices.
Key Points Covered in the Benzene Pricing Report:
The report delivers the following key findings, alongside a comprehensive breakdown of prices by region:
- Benzene Prices
- Benzene Price Trend
- Benzene Demand & Supply
- Benzene Market Analysis
- Demand Supply Analysis by Type
- Demand Supply Analysis by Application
- Demand Supply Analysis of Raw Materials
- Benzene Price Analysis
- Benzene Industry Drivers, Restraints, and Opportunities
- Benzene 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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