The latest report by IMARC, titled"Benzoyl Chloride Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,"delivers a comprehensive analysis of Benzoyl Chloride 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.
Benzoyl Chloride Prices December 2023:
- United States: 1007 USD/MT
- China: 1235 USD/MT
- Netherlands: 870 USD/MT
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The study delves into the factors affecting Benzoyl Chloride 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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Benzoyl Chloride Price Trend- Q4 2023
The benzoyl chloride market is experiencing significant growth driven by several key factors. The expanding demand for benzoyl chloride in various industries such as pharmaceuticals, agrochemicals, and polymers is a major driver. Benzoyl chloride is a crucial intermediate in the production of benzoyl peroxide, which is extensively used in acne treatment medications, further propelling its demand in the pharmaceutical sector. Additionally, the agrochemical industry relies on benzoyl chloride for the synthesis of herbicides and insecticides, contributing to market growth. Moreover, benzoyl chloride is utilized in the production of benzoyl derivatives, which find applications in plasticizers, perfumes, and flavors, thereby augmenting its market demand. Furthermore, the growth of end-user industries such as cosmetics, textiles, and dyes is bolstering the consumption of benzoyl chloride for various applications like dye intermediates and chemical synthesis. Advancements in production technologies and increasing investments in research and development activities are expected to further drive the growth of the benzoyl chloride market in the forecast period.
The global benzoyl chloride market size reached 110.6 Thousand Tons in 2023. By 2032, IMARC Group expects the market to reach 159 Thousand Tons, at a projected CAGR of 4.10% during 2023-2032. In the final quarter of FY23, the benzoyl chloride market in North America experienced a series of fluctuations, largely influenced by a complex interplay of economic factors and geopolitical events. Initially, the market remained relatively stable in October, buoyed by moderate demand and steady feedstock benzene prices. However, as November and December unfolded, prices began to decline in the US market. This downturn was attributed to a combination of factors, including a decrease in feedstock benzene availability and weakened demand. The Israel-Palestine conflict, which initially impacted oil prices, also played a role, although its effects on the North American economies were limited. Despite excess benzene supply, sluggish demand persisted, leading to further price declines in December. However, amidst these challenges, there remains optimism for potential improvements in 2024, driven by anticipated shifts in the macroeconomic landscape. Despite the overall negative outlook, some industry insiders anticipate a positive trajectory, albeit contingent upon resolving ongoing geopolitical tensions and stabilizing demand dynamics.
The benzoyl chloride markets in the APAC and Europe regions demonstrated distinctive trend throughout the last quarter of FY23. In the APAC region, prices initially declined in October due to weak support from crude oil and lower feedstock benzene prices. This decline was exacerbated by oversupply in the market, particularly as China restricted exports to prioritize its domestic fertilizer market. However, as the quarter progressed, prices rebounded, driven by increased procurement from importing countries and heightened demand in sectors such as beauty and personal care. Despite persistent challenges in downstream agrochemicals, collaborations with major players and consistent investments in the aromatics sector bolstered demand, leading to upward pressure on prices. Conversely, in Europe, benzoyl chloride prices experienced a mixed trend, initially rising in October due to elevated feedstock benzene costs and a moderately positive demand outlook. However, prices declined in November and December, reflecting weakened demand and excess benzene supply. Despite concerns about geopolitical tensions and anticipated low demand, there remains cautious optimism for potential improvements in 2024. The overall outlook in both regions underscores the intricate interplay of global and domestic factors shaping benzoyl chloride prices, with market dynamics poised to respond to shifts in economic conditions and geopolitical landscapes.
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Key Points Covered in the Benzoyl Chloride Pricing Report:
The report delivers the following key findings, alongside a comprehensive breakdown of prices by region:
- Benzoyl Chloride Prices
- Benzoyl Chloride Price Trend
- Benzoyl Chloride Demand & Supply
- Benzoyl Chloride Market Analysis
- Demand Supply Analysis by Type
- Demand Supply Analysis by Application
- Demand Supply Analysis of Raw Materials
- Benzoyl Chloride Price Analysis
- Benzoyl Chloride Industry Drivers, Restraints, and Opportunities
- Benzoyl Chloride 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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