Potassium Benzoate Price Trend and Forecast
Get the latest insights on price movement and trend analysis of Potassium Benzoate in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).
Potassium Benzoate Price Trend for the First Half of 2023
Asia
In the Asia Pacific region, prices of potassium benzoate declined in the initial phase due to the falling market activities of the food, pharmaceuticals, and related sectors. But towards the end of the quarter, the trend inclined till the middle of the second quarter. This phase of the market was positively influenced by a significant rise in the number of new orders from both domestic and international buyers, with a strong supply to sustain this high demand.
The cost of raw materials and fluctuations in the energy sector also supported the northward trajectory of the potassium benzoate price trend. However, in the later months, the prices began to decline. Several factors, such as the reduced number of new orders, the falling market of raw materials, and the increasing level of inventories, adversely affected the potassium benzoate prices.
Europe
The European region was negatively impacted by the ample availability of feedstock materials and falling demand dynamics of the region in the first quarter of 2023. The trend improved slightly in the later months of the first quarter and in the initial phase of the second quarter. This hike was supported by the unexpected increase in domestic orders and surging costs of energy production and shipments. The rise was, however, short-lived as the prices of potassium benzoate declined again as weak demand dynamics circled around the market.
North America
The low prices of feedstock materials and sufficient availability of the product in the market hampered the growth of potassium benzoate prices. A phase of stability was observed in the initial months of the second quarter, but the trend soon declined again. The hike was supported by the improvement in demand and a reduction in the number of inventories. However, the decline in prices was attributed to the slow market activities and hesitation in consumer confidence in the market.
Analyst Insight
According to Procurement Resource, the price of Potassium Benzoate is estimated to depict a fluctuating trajectory as the falling global market activities and slow demand will negatively impact the potassium benzoate price trends.
Procurement Resource provides latest prices of Potassium Benzoate. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.
Potassium benzoate is the potassium salt of benzoic acid that has strong antimicrobial activities. Due to its ability to restrict the growth of microorganisms, this salt is highly employed in the food and beverage industries. In addition to this, salt also aids in increasing the shelf-life of food, beverages, personal care items, and pharmaceuticals.
Report Features | Details |
Product Name | Potassium Benzoate |
Chemical formula | C7H5KO2 |
Industrial Uses | Food preservative, Pharmaceutical and personal care products, Water treatment |
HS Code | 29163190 |
CAS Number | 582-25-2 |
Molecular weight | 160.213 g/mol |
Supplier Database | Emerald Kalama Chemical, Tengzhou Tenglong Chemical, A.M. Food Chemical, Macco Organiques Inc, Shandong Tong Tai Wei Run Chemical |
Region/Countries Covered | Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea, Iraq, Saudi Arabia, Malaysia, Nepal, Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore, Oman, Kuwait, Qatar, 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 Africa: South Africa, Nigeria, Egypt, Algeria, Morocco |
Currency | US$ (Data can also be provided in local currency) |
Supplier Database Availability | Yes |
Customization Scope | The report can be customized as per the requirements of the customer |
Post-Sale Analyst Support | 360-degree analyst support after report delivery |
Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
The oxidation reaction of toluene gives benzoic acid in the first step of the reaction. Further reaction of benzoic acid with bicarbonates, or hydroxide or carbonates of potassium, produces potassium benzoate.
The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e. government agencies, external trade bodies, and industry publications).
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