Benzoyl Chloride Price Trend and Forecast

Regional Price Overview

Get the latest insights on price movement and trend analysis of Benzoyl Chloride in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Benzoyl Chloride Price Trend for the Q1 of 2024

Asia

Benzoyl chloride prices were observed to be oscillating throughout the said period of Q1’24. Benzoyl chloride prices mainly rode on the back of its feedstock materials, benzoyl alcohol, and hydrochloric acid; because of this, the price trends for these chemicals showed great resemblance with each other. The Chinese market started off well as the improvement efforts from the downstream polymer and rubber industries were showing up in the modest domestic demands from these downstream sectors. Though small, the price trajectory here experienced improvements over the course of three months.

Benzoyl Chloride Price Chart

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A consistent rise in the global petroleum and petrochemical industries because of crude oil getting expensive was also an important factor that drove the prices uphill here. The Indian market, on the other hand, had a little feverish start because of some initial inventory pressure. However, the situation reversed quickly as the raw material prices evolved, and the upstream costs started inclining; the domestic price point for benzoyl chloride also got an uptick.

Europe

The benzoyl chloride market in Europe remained subjected to the trade difficulties the region has been facing for a long time since the beginning of the Russian invasion of Ukraine two years back. Feedstock cost was a driving factor, but the underwhelming consumption patterns remained detrimental.

Since the Middle Eastern region also got riddled with war between Israel and Hamas, the trade dynamics in the international market got even more complicated. The domestic industries were anyways not able to provide much support to the benzoyl chloride market in Europe when the international market also started jittering. The rise in crude oil prices did provide some positive cost support. But, overall, the prices remained tottering within confined limits.

North America

The North American market behavior for benzoyl chloride was relatively little better compared to the Asian and European markets. The rise in the upstream production cost was also supported by steady yet consistent demands in the region.

The international market situation was still uncertain as the freight situation also kept on getting more complicated. The domestic market, however, was able to give an average performance on the price index. Overall, mixed market sentiments were witnessed in Q1’24.

Analyst Insight

According to Procurement Resource, the Benzoyl Chloride price trends are likely to continue varying in the coming months as well. The various macroeconomic indicators suggest buoyancy in prices going forward.

Benzoyl Chloride Price Trend for the October - December of 2023

Asia

Benzoyl Chloride is a chemical produced using its feedstock chemicals benzoyl alcohol and hydrochloric acid, and because of this, its price trend are very loosely aligned with the market price behavior of its raw materials. Along with its feedstock prices, the downstream demands from the consumption sectors like rubber, dyes, and polymers also influence the Benzoyl Chloride market trend.

During the final quarter of the year 2023, the Benzoyl Chloride market took some downward hit as the average prices depreciated from October to December of 2023. Along with the clear fall in downstream demands and upstream costs, the stockpiles of unused Benzoyl Chloride stocks from previous months also pushed the price trend backward during the said time period. Overall, weak market sentiments were observed.

Europe

The European market performance for Benzoyl Chloride was better than the Asian market during the concerned period; a rising curve of the feedstock hydrochloric acid provided the needed positive push to these price trend. Although there were some supply chain issues because of disturbed ocean freight, still the general market sentiments were largely positive during the given period.

North America

The North American Benzoyl Chloride market fluctuated within a narrow range as the prices remained afloat throughout the fourth quarter of the year 2023. Some improvement was observed in the demand dynamics at the beginning as the USD started strengthening. However, the conflict between Israel and Hamas opened another front for disturbances in global trade other than the Russian war.

Analyst Insight

According to Procurement Resource, the Benzoyl Chloride price trend are likely to continue to oscillate in a similar manner going forward as well since the interplay between the downstream demands and the feedstock costs will continue to drive these market sentiments.

Benzoyl Chloride Price Trend for the July-September of 2023

Asia

The benzoyl chloride regional prices faced a downfall in the first half of the third quarter of 2023. The major causes of the decline in the price trajectory of benzoyl chloride were the muted demand from the downstream industries and the struggling situation of the supply sector. In dictating the scenario of demand, the pharmaceutical and fertilizers sector played a significant role as they themselves faced the adverse consequences of poor market sentiments. However, in the end phase of this sector, the increasing cost of production gave the benzoyl chloride price graph its required momentum.

Europe

The downward trend of benzoyl chloride prices was a result of the fall in the consumption rates of fragrances, medicine, and related industries. Along with this, the ill effects of the Russia-Ukraine war, soaring rates of inflation, and consistently rising rates of interest charged by banks to keep the economy afloat were well evident in the benzoyl chloride price analysis. During the end months of the quarter, the benzoyl chloride price trend stabilized with improvement in the feedstock prices and downstream demand.

North America

In North America, the price trend of benzoyl chloride fluctuated throughout the third quarter due to the poor outlook of the downstream industries. The trajectory of the benzoyl chloride price graph suffered initially due to limited supply and demand. But soon, the market sentiments improved as the cost of feedstock materials inclined, which in turn raised the production costs. This gave the benzoyl chloride prices its required push, which was further escalated by the rise in demand and northward movement of the fertilizers sector.

Analyst Insight

According to Procurement Resource, the price trend for Benzoyl Chloride are estimated to follow the path paved by its demand from the downstream industries and the momentum of the feedstock prices.

Benzoyl Chloride Price Trend for the First Half of 2023

Asia

The price trend of benzoyl chloride dipped in the first and second quarter of 2023 as the procurement from the pharmaceutical, fertilizers, and related industries remained low. In addition to this, the economic indicators suggest that there was a significant decline in manufacturing activities during this time phase. Even after the low production rates, the level of inventories remained sufficient to cater to the subdued demand of the downstream industries indicating the fall in the price trend of benzoyl chloride in the Asia-Pacific region.

Europe

In the first quarter, the price trend of benzoyl chloride surged with support from the rising cost of feedstock materials and high demand from the end-user industries. However, the second quarter failed to continue this upward trajectory due to a significant decline in the number of inquiries from agriculture, perfumes, resin, and other downstream industries. In addition to this, the feedstock cost also slumped with striking high inflation and interest rates that eventually hampered benzoyl chloride prices and caused its price trend to take a steep fall.

North America

Similar to the European market, the prices of benzoyl chloride in the first quarter surged, supported by high demand and an increased number of orders from the downstream industries. However, the demand for benzoyl chloride was subdued in the second quarter due to weak market dynamics of agriculture, perfumes, pharmaceuticals, and related sectors. In addition to this, the cost of production further plummeted due to feeble economic conditions of the North American market that negatively impacted the price trend of benzoyl chloride.

Analyst Insight

According to Procurement Resource, the price trend of Benzoyl Chloride is estimated to depict an oscillating trajectory as the demand from the downstream industries does not seem to support the pricing fundamentals.

Procurement Resource provides latest prices of Benzoyl Chloride. 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.