Benzaldehyde prices in Asia initially declined in Q1, 2023, despite increased inquiries from the food and beverages industry. The upward trend was fueled by supply-demand imbalances and consumer purchasing. Q2 continued with rising prices due to higher raw material costs, but it faltered towards the quarter-end due to cheap imports and falling raw material prices. In Europe, Q1 saw fluctuating demand affecting benzaldehyde prices, while Q2 started positively with rising demand and depleting inventories. However, the latter half of Q2 mirrored Asia’s decline due to cheap imports and falling feedstock costs. North America’s Q1 trend improved in its second half and Q2, influenced by production and downstream industry momentum, but cheaper imports and lower raw material costs pushed prices down in May and June.
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Definition
Benzaldehyde is an aromatic compound with the chemical formula C6H5CHO. It’s a clear liquid with a distinct almond-like aroma and a slightly bitter taste. Benzaldehyde is highly flammable and can dissolve in various solvents, including water. It is utilized as a precursor in chemical synthesis due to its reactivity, often participating in reactions that form other aromatic compounds. Its characteristic fragrance makes it valuable in the fragrance and flavor industry. Additionally, benzaldehyde possesses mild antiseptic properties and finds applications in various industries, including pharmaceuticals, cosmetics, and food additives.
Key Details About the Benzaldehyde Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on Benzaldehyde in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as Excel files that can be used offline.
The Benzaldehyde Price chart, including India Benzaldehyde price, USA Benzaldehyde price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
Industrial Uses Impacting the Benzaldehyde Price Trend:
Benzaldehyde has a range of industrial applications due to its distinct properties. In the fragrance and flavor industry, it’s a key ingredient, contributing its almond-like aroma to various products. In the pharmaceutical sector, benzaldehyde serves as an intermediate in synthesizing drugs and related compounds. It’s utilized in the production of dyes, perfumes, and agrochemicals. Benzaldehyde is also essential in creating synthetic resins, plasticizers, and various chemicals for the chemical industry. Its versatile reactivity makes it valuable in chemical synthesis, including in the manufacturing of cinnamic acid derivatives, benzoic acid, and benzoin condensation product.
Key Players:
- Kadillac Chemicals Pvt Ltd
- Emerald Performance Materials LLC
- Hainhang Industry Co Ltd
- Jiangsu Jiamai Chemical Co Ltd
- Chematek S.p.A
- Wuhan Dico Chemical Co Ltd
- Merck KGaA
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