Sodium Benzoate Prices, Chart, News, Demand & Historical Data
Sodium Benzoate Price in USA
- United States: 1310 USD/MT
The sodium benzoate prices in the United States for Q4 2023 reached 1310 USD/MT in December.
The latest report by IMARC Group, titled “Sodium Benzoate Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” provides a thorough examination of sodium benzoate prices. This report delves into globally, presenting a detailed analysis, along with informative price chart. Through comprehensive price analysis, the report sheds light on the key factors influencing these trends. Additionally, it includes historical data to offer context and depth to the current pricing landscape. The report also explores the demand, analyzing how it impacts market dynamics. To aid in strategic planning, the price forecast section provides insights into price forecast, making this report an invaluable resource for industry stakeholders.
Sodium Benzoate Prices Analysis:
- China: 1207 USD/MT
- Germany: 1305 USD/MT
Report Offering:
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The study delves into the factors affecting sodium benzoate 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.
Request For a Sample Copy of the Report: https://www.imarcgroup.com/sodium-benzoate-pricing-report/requestsample
Sodium Benzoate Price Trend- Last Quarter
The need for reliable and effective pharmaceuticals is rising as worries about global health and the incidence of chronic illnesses rise. Sodium benzoate is essential to the formulation of drugs since it keeps medications stable and extends their shelf life. Furthermore, the pharmaceutical industry’s increasing focus on research and development (R&D) is generating novel medications, which is driving up demand for excipients like sodium benzoate. People are becoming more conscious of the effectiveness and safety of pharmaceutical items. Drugs with longer shelf life and fewer side effects are in higher demand.
Because of its reputation as a preservative, sodium benzoate satisfies this need by extending the shelf life and security of medicinal products. This tendency is especially noticeable in over-the-counter (OTC) pharmaceuticals, where consumers’ need for safe and effective medicines motivates the use of dependable excipients like sodium benzoate. Technological developments in medicine formulation are opening new business prospects. Specialized excipients are needed for innovations like biologics, controlled-release formulations, and nanoparticle-based drug delivery systems to improve the stability and efficacy of the medication. With its many uses as a preservative, sodium benzoate is being used more and more in these cutting-edge medication compositions.
Sodium Benzoate Industry Analysis
In North America
The sodium benzoate excipient market in North America experienced a steady price increase in the fourth quarter of 2023 for a number of reasons. The prolonged winter and increasing demand for processed and frozen foods led to a rise in the use of sodium benzoate as a preservative. To guarantee a sufficient supply and prevent any shortages, producers and domestic retailers accumulated enormous amounts of the product. In addition, there was a steady increase in the price of materials such as benzoic acid excipients, which is another factor driving up material prices. The dynamics of the market were affected by the rise of the Chinese yuan relative to the US dollar, which increased the cost of imports.
In Asia Pacific
Sodium benzoate excipient prices encountered a few issues in Asia Pacific in the fourth quarter of 2023. There was a persistently positive attitude despite a number of problems. Prices have been rising steadily since October 1st due to an increase in demand from end-user industries. The end of the Golden Week holidays created further impetus, leading to a surge in international enquiries and downstream consumers’ interest. In addition, China faced labor shortages and logistical difficulties in November due to manufacturing disruptions. These hiccups added to the overall price increase, as did higher manufacturing costs.
In Europe
In the final quarter of 2023, there was a favorable phase in the pricing of sodium benzoate excipients throughout Europe, especially in the German market. Over this time, costs showed a consistent upward trend, driven mostly by increased demand from downstream industries, namely the processed and frozen sectors. Due to this greater demand, there was a noticeable sodium benzoate excipient scarcity in the German market, which caused costs to grow steadily over the course of the quarter. The demand-driven dynamics and the Euro’s relative strength compared to other currencies also had an impact on pricing in the area, which added another level to the market’s price dynamics.
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
Note: The current country list is selective, detailed insights into additional countries can be obtained for clients upon request.
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