Get the latest insights on price movement and trend analysis of Sodium Benzoate in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).
Sodium Benzoate Price Trend for the First Half of 2023
The market for sodium benzoate declined in the first and second quarters of 2023 in the Asia-Pacific region. The fall in the trend was much more significant in the later months of the second quarter as compared to the first quarter. In both quarters, the weak performance of domestic and international markets and the declining prices of feedstock materials affected the price trends. However, a slight incline was observed in the first two months of the second quarter when the demand for sodium benzoate from the food and beverage sector increased. These months were also supported by positive trading activities and higher costs of raw materials. But the trend could not be sustained in the region, and ultimately, consumer confidence in the market fell along with sodium benzoate prices.
In Europe, the sodium benzoate price trend declined throughout the first two quarters of 2023. The market dynamics were adversely affected by the rising stockpiles in the region due to weak demand from the downstream industries. The trend improved slightly in the initial phase of the second quarter due to increasing demand and energy production costs as OPEC+ announced cuts in oil outputs. But soon, the trend returned to its declining phase as consumers were unable to purchase the product amid soaring energy costs and declining market dynamics. The falling costs of raw materials, overflow of stocks, and increased number of imports contributed significantly to this fall in the price trend.
The market of sodium benzoate in North America mimicked the trend seen in Europe and Asia Pacific regions. The prices first declined in the first quarter, then witnessed a slight jump, and ultimately declined again in the second quarter. The rise in the first few months of the first quarter was due to high demand from the end-user sector. But the declining trajectory of the price trend of sodium benzoate was due to the weak performance of downstream industries, a halt in the economic development of the region, and increasing fluctuations in the crude oil sector, which significantly impacted the sodium benzoate price trend.
According to Procurement Resource, the price of Sodium benzoate is estimated to depict an uncertain trend as the declining global economic conditions and reduced demand from the end-sector industries are expected to adversely affect the market.
Procurement Resource provides latest prices of Sodium 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.
Sodium benzoate is a chemical compound represented by the formula C7H5NaO2. It is the sodium salt of benzoic acid, commonly used as a food preservative and antimicrobial agent in various industries. With strong inhibitory properties against bacteria, yeast, and mold, sodium benzoate helps extend the shelf life of food, beverages, and personal care products. Its ability to prevent spoilage and microbial growth makes it a widely utilized additive, regulated to ensure safe levels for human consumption.
|Product Name||Sodium Benzoate|
|Industrial Uses||Preservatives, Chemical Intermediate, Shelf-life enhancer|
|Molecular weight||144.11 g/mol|
|Supplier Database||Avantor Inc, Merck KGA, Wuhan Youji Industries Co Ltd, FBC Industries Inc, A.M. Food Chemical Co Limited, DuPont de Nemours Inc, Lanxess AG|
|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 of toluene in presence of nitric acid and refining of the solution gives benzoic acid. In subsequent steps, the reaction of benzoic acid with sodium hydroxide finally gives the desired product.
Naphthalene is oxidized with vanadium pentoxide, yielding phthalic anhydride. This step is followed by decarboxylation that results in benzoic acid. Furthermore, sodium benzoate is produced through the reaction of benzoic acid with sodium hydroxide.
In this process, toluene and chlorine react to produce benzotrichloride. The intermediate reacts with a mineral acid to yield benzoic acid, which, on further reaction, gives sodium 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).
Procurement Resource is a one-stop solution for businesses aiming at the best industry insights and market evaluation in the arena of procurement. Our team of market leaders covers all the facets of procurement strategies with its holistic industry reports, extensive production cost and pre-feasibility insights, and price trends dynamics impacting the cost trajectories of the plethora of products encompassing various industries. With the best analysis of the market trends and comprehensive consulting in light of the best strategic footstep, Procurement Resource got all that it takes.
Procurement Resource has made a mark for itself in terms of its rigorous assistance to its clientele. Our experienced panel of experts leave no stone unturned in ensuring the expertise at every step of our clients' strategic procurement journey. Our prompt assistance, prudential analysis, and pragmatic tactics considering the best procurement move for industries are all that sets us apart. We at Procurement Resource value our clients, which our clients vouch for.
Expertise, judiciousness, and expedience are the crucial aspects of our modus operandi at Procurement Resource. Quality is non-negotiable, and we don't compromise on that. Our best-in-class solutions, elaborative consulting substantiated by exhaustive evaluation, and fool-proof reports have led us to come this far, making us the ‘numero uno' in the domain of procurement. Be it exclusive qualitative research or assiduous quantitative research methodologies, our high quality of work is what our clients swear by.