For the Quarter Ending September 2025
North America
鈥� In United States, Benzoic Acid Exp Price Index fell in Q3 2025, influenced by elevated chemical inventories.
鈥� Production costs rose in Q3 2025, driven by a 2.6% PPI increase in August 2025 and strengthened toluene feedstock.
鈥� Industrial demand was subdued due to a marginal 0.1% increase in industrial production in September 2025.
鈥� Consumer-facing demand was supported by a 5.42% rise in retail sales in September 2025.
鈥� Overall chemical customer market demand deteriorated in Q3 2025, contributing to elevated inventories.
鈥� Toluene feedstock costs strengthened in Q3 2025, with tightening inventories impacting production.
鈥� US chemical exports, including Benzoic Acid Exp, declined in September 2025.
鈥� Rising operational costs, indicated by a 3.0% CPI increase in September 2025, pressured the Benzoic Acid Exp Price Index.
鈥� The Benzoic Acid Exp price forecast suggests continued pressure from high inventories and weakening consumer confidence.
Why did the price of Benzoic Acid Exp change in September 2025 in North America?
鈥� Toluene feedstock costs strengthened in Q3 2025, increasing Benzoic Acid Exp production expenses.
鈥� Industrial production inched up 0.1% in September 2025, leading to subdued industrial demand.
鈥� Elevated overall chemical inventories in Q3 2025 contributed to downward price pressure.
APAC
鈥� In China, the Benzoic Acid Exp Price Index fell quarter-over-quarter in Q3 2025, driven by weak industrial demand.
鈥� China's Manufacturing Index contracted in September 2025, reducing demand for industrial Benzoic Acid Exp applications.
鈥� Benzoic Acid Exp production costs were influenced by rising energy costs and ample toluene feedstock supply in Q3 2025.
鈥� China's CPI decreased by 0.3% year-on-year in September 2025, impacting consumer purchasing power and demand.
鈥� Overall chemical demand in China softened in Q3 2025, alongside elevated chemical inventories.
鈥� Industrial Production increased 6.5% year-on-year in September 2025, providing some underlying support.
鈥� The PPI decreased by 2.3% year-on-year in September 2025, pressuring Benzoic Acid Exp export pricing.
鈥� Retail Sales grew 3.0% year-on-year in September 2025, supporting consumer-related Benzoic Acid Exp demand.
Why did the price of Benzoic Acid Exp change in September 2025 in APAC?
鈥� Contracting manufacturing activity and pessimistic consumer confidence dampened Benzoic Acid Exp demand in September 2025.
鈥� Falling factory-gate prices (PPI -2.3% in September 2025) and ample toluene supply pressured Benzoic Acid Exp pricing.
鈥� Elevated overall chemical inventories and global overcapacity contributed to downward price trends in Q3 2025.
Europe
鈥� In Germany, the Benzoic Acid Exp Price Index fell quarter-over-quarter in Q3 2025, due to weak demand and lower producer costs.
鈥� Benzoic Acid Exp production costs saw downward pressure from toluene feedstock in Q3 2025, despite 2.4% CPI inflation.
鈥� The Benzoic Acid Exp demand outlook was weak in Q3 2025, impacted by contracting manufacturing and industrial production.
鈥� Consumer confidence dropped significantly to -23.6 in September 2025, reducing overall consumer spending.
鈥� German industrial production declined by 1.0% in September 2025, reducing demand for industrial chemical applications.
鈥� Abundant, competitively priced toluene imports from Asia undermined European domestic producers' margins in Q3 2025.
鈥� The Manufacturing Index showed a contracting trend in September 2025, signaling a slowdown in industrial activity.
鈥� Benzoic Acid Exp price forecast indicates continued downward pressure due to global overcapacity and subdued consumption.
鈥� Retail sales grew modestly by 0.8% in September 2025, slightly supporting food and beverage preservation demand.
Why did the price of Benzoic Acid Exp change in September 2025 in Europe?
鈥� Producer Price Index declined by 1.7% in September 2025, lowering Benzoic Acid Exp production input costs.
鈥� German industrial production contracted by 1.0% in September 2025, decreasing industrial chemical demand.
鈥� Competitive toluene imports from Asia and global overcapacity pressured Benzoic Acid Exp prices downward.
For the Quarter Ending March 2025
North America
The North American export market for Benzoic Acid Exp. remained under notable pressure through the first quarter of 2025, as suppliers faced restrained demand conditions and cautious buying behaviour. The opening month of the year saw procurement activities slow significantly, with downstream industries holding ample stock levels after prior inventory replenishments.
Buying interest remained thin as customers deferred fresh orders in anticipation of softer market conditions. Suppliers encountered difficulties in concluding new export deals, and to maintain offtake, they adopted flexible commercial strategies. The prevailing sentiment in February was similarly weak, as buyers remained hesitant to secure material beyond immediate requirements. Despite steady availability from producers, market momentum was hampered by minimal inquiries from international markets and a sluggish pace of procurement.
It was only towards March that the market began showing tentative signs of stabilization, supported by limited restocking from select segments. Suppliers observed marginal improvements in trade volumes as buyers returned to replenish inventories at low operating costs. However, overall sentiment continued to lean cautious, with downstream sectors proceeding conservatively amidst ongoing uncertainty regarding future consumption trends and order cycles.
Asia Pacific
The Asia Pacific export market for Benzoic Acid Exp. displayed progressive strength throughout the first quarter of 2025, with steady improvements in trade activity and a gradual firming of market sentiment. January commenced with moderate procurement from overseas buyers as most trading firms exercised restraint ahead of routine seasonal slowdowns and awaited operational restarts in various downstream sectors.
Product availability in the region remained balanced, while suppliers maintained consistent production rates to meet existing contractual obligations. Moving into February, market conditions improved as international inquiries increased following the resumption of operations in key consumer markets. This led to healthier offtake volumes and enhanced supplier confidence. The region鈥檚 producers effectively secured incremental demand from both pharmaceutical and food preservation industries, contributing to a well-supported export performance.
By March, demand momentum had further strengthened, with a steady stream of orders from overseas buyers coupled with relatively tighter product availability. Market players capitalized on this firmer environment, supported by an increase in procurement from international markets and sustained downstream consumption. As a result, overall market conditions in the region closed the quarter on a firm and positive note.
Europe
The European Benzoic Acid Exp. import market experienced persistent weakness over the course of the first quarter of 2025, weighed down by subdued demand and an oversupplied landscape. The year began with limited purchasing activity from downstream industries, particularly in pharmaceutical and food-related applications, as procurement specialists maintained conservative inventory strategies amid uncertain short-term consumption forecasts.
The situation deteriorated further in February, with market conditions remaining notably sluggish. Buyers avoided substantial purchases, preferring to operate with minimal inventories while evaluating the prevailing market softness. Suppliers, in turn, faced mounting pressure to sustain order flow and resorted to highly competitive commercial positioning. Despite such efforts, offtake volumes stayed lacklustre as excessive availability of competitively priced export cargoes left buyers with multiple sourcing options.
By March, market dynamics remained largely unchanged, with persistent weak demand and limited procurement interest continuing to define trading sentiment. Market participants reported that even opportunistic buying remained scarce, as end-use industries displayed restrained production schedules. Consequently, the region鈥檚 market concluded the quarter in a prolonged state of stagnation, with little optimism for near-term improvement.
For the Quarter Ending December 2024
North America
The U.S. Benzoic Acid Excipients market in Q4 2024 saw a continuous rise in import prices driven by multiple factors throughout the quarter with a modest drop witnessed in November 2024. The winter season boosted demand in the food, beverage, and nutraceutical sectors, contributing to price increases. Rising shipping costs, especially from Asian suppliers, escalating fuel prices, and supply chain disruptions, including port challenges in New York, compounded the cost pressures. Strikes by the International Longshore and Warehouse Union (ILWU) and limited domestic production capacity further exacerbated delays and costs. Stockpiling by businesses anticipating stronger demand and increased export activity also fueled price escalation.
In November 2024, the market saw a decline in import prices due to easing raw material costs, particularly toluene, and a reduction in production expenses. Improved global trade conditions, increased availability from major producers, and a stronger U.S. dollar also helped stabilize prices. Lower freight costs due to logistical improvements further contributed to the price reduction.
However, U.S. Benzoic Acid prices reversed on the positive side yet again in December 2024. The market's heavy reliance on imports highlighted a structural vulnerability in the U.S. supply chain. In the absence of increased domestic production capacity or diversification of import sources, prices remained elevated as suppliers maintained a strong negotiating position and benefited in terms of higher profit margins. As a result, the persistence of these challenges indicated that the price increases were not merely a temporary fluctuation but rather a fundamental shift in the market's equilibrium with prices settling at USD 1675/MT USP CFR Houston.
Asia Pacific
The Benzoic Acid excipient market in China during the fourth quarter of 2024 demonstrated fluctuating dynamics. October saw a significant price increase driven by logistical disruptions, including a major typhoon that caused extended shipping delays, which elevated freight costs and constrained material movement. This, coupled with the post-holiday surge in demand from the pharmaceutical and food sectors, further strained supply, leading to reduced inventory levels. The economic landscape, marked by the depreciation of the yuan against the dollar, also contributed to rising import costs while enhancing sales margins for traders. In November, however, the market experienced a downturn in export prices, primarily due to declining demand from key sectors like pharmaceuticals and personal care. This slowdown was compounded by a drop in toluene feedstock prices, which reduced production costs and pressured suppliers to lower prices to stay competitive. The NBS Manufacturing PMI showed slight improvement, but broader economic conditions, including a slowdown in exports and imports, weakened trade sentiment. However, by December, the market reversed its trajectory, with export prices increasing as demand surged from Western countries post-holidays, and logistical conditions improved. Suppliers capitalized on this uptick, adjusting pricing norms, indicating a strategic shift towards asserting greater control in the Benzoic Acid market from China with prices settled at USD 1290/MT USP FOB Shanghai.
Europe
Germany experienced an overall rise in Benzoic acid export prices during the fourth quarter of 2024, with a brief decline in November. In October, prices were driven upward by higher raw material costs and logistical challenges. Increased freight charges from major exporters like China and India pushed landed costs higher, while rising energy costs in Europe and stricter regulatory compliance limited lower-cost imports, favoring pricier quality-compliant options. The weakening euro further intensified procurement challenges, raising import costs. By November, prices began to ease as supply chain conditions improved. Supply constraints from key producing regions lessened, and reduced freight costs, along with lower raw material prices, allowed suppliers to offer more competitive pricing. A decrease in anticipated demand from sectors such as food preservatives and pharmaceuticals contributed to price reductions, supported by stable currency exchange rates. However, December saw renewed price pressure due to disruptions in the Asia-Pacific export market and continued logistical issues, including blank sailings. The pharmaceutical sector's stronger purchasing sentiment and strategic stockpiling in neighboring EU markets helped sustain higher prices. The depreciating euro allowed suppliers to capitalize on elevated prices, leading to a supplier's market and ending the quarter with prices at USD 1535/MT USP CFR Hamburg.
For the Quarter Ending September 2024
North America
The North American Benzoic Acid Excipient market experienced a notable price decline in quarter 3 of 2024, characterized by abundant supply and weakened local demand, particularly in pharmaceutical and preservative sectors. Several factors intensified this downward trend, including market oversupply, economic deceleration, rising competition from cheaper alternatives, and currency volatility.
Market dynamics prompted suppliers to adapt their strategies, resulting in reduced lead times. However, this failed to stimulate buying interest among regional purchasers. The U.S. market exhibited the most significant price volatility, recording a 10% decline between the first and second halves of the quarter.
The US market maintained an extremely bearish outlook throughout the period, with prices dropping from $1,860/MT to $1,670/MT CFR Houston from July to September 2024. This substantial decrease reflected the persistent negative sentiment and challenging market conditions that dominated the quarter. The combination of these factors created a sustained downward pressure on prices, highlighting the market's ongoing struggles with supply-demand imbalances in the regional market.聽
APAC
During Q3 2024, the APAC Benzoic Acid Exp market faced significant price deterioration, primarily influenced by excess supply conditions and subdued demand patterns. In China, prior months' heightened production activities resulted in substantial inventory buildup, creating a notable supply-demand disparity. The market dynamics were further strained by decreased consumption in downstream industries amid challenging economic conditions.
Chinese manufacturers resorted to competitive pricing strategies to manage surplus inventory, leading to reduced export prices across global markets. China basically emerged as a focal point of market volatility, recording a substantial 16% price decline between the first and second halves of the quarter. The market also confronted operational challenges due to facility shutdowns, which impacted regular supply patterns and hampered the trade activity.聽
The Chinese market maintained a consistently bearish trend, with Benzoic Acid USP FOB Shanghai prices falling from USD 1505/MT to USD 1270/MT From July to September. This significant price erosion highlighted the quarter's challenging market conditions, characterized by persistent oversupply, diminished demand, and aggressive price competition.聽
Europe
Throughout Q3 2024, the European region witnessed a period of declining prices for Benzoic Acid Exp, with Germany experiencing the most significant price changes. Various factors contributed to this downward trend, including decreased production costs driven by lower energy expenses and falling feedstock prices like Toluene. The market also faced subdued demand in key sectors such as food preservatives and pharmaceuticals, leading to oversupply challenges. To mitigate storage costs and inventory risks, enterprises in Germany began offloading their Benzoic Acid Exp stocks, intensifying the supply glut. The overall market sentiment leaned towards the negative, with trading remaining muted and prices decreasing by 13% from the first half to the second half of the quarter. Noteworthy disruptions and plant shutdowns further impacted the market dynamics, underscoring the challenging environment for Benzoic Acid Exp pricing in Europe.
In Germany specifically, the quarter ended with a price of USD 1530/MT for Benzoic Acid USP CFR Hamburg, reflecting the overall decreasing trend observed throughout Q3 2024.聽聽
