Benzoic Acid Prices, Pricing, Demand & Supply
North America The Benzoic Acid market in the North America region experienced significant fluctuations in the fourth quarter of 2023, influenced by various factors that affected both market dynamics and pricing. At the onset of October, a notable surge in demand from the downstream sector, driven by diverse end-user industries, resulted in a tightening of supply and subsequent price increases. This demand spike, coupled with rising input costs—particularly for raw materials like Toluene—further contributed to the upward trend in prices. The economic situation in the United States also played a pivotal role in shaping market sentiments during this period. Inflationary pressures and escalating energy prices in the U.S. impacted the Benzoic Acid market. However, towards the end of October, prices began to depreciate, concluding the fourth quarter on a downward note. The USA, being an importer, followed suit in this price decline. Key Chinese provinces, significant players in the Benz...