In the first and second quarters of 2023, the price trend of sodium benzoate declined in Asia, Europe, and North America due to weak demand from downstream industries, falling feedstock prices, and increased stockpiles. Some regions saw temporary inclines in demand and prices due to positive trading activities and energy production costs. However, overall, the market sentiments and consumer confidence were affected by soaring energy costs, declining market dynamics, and fluctuations in the crude oil sector, leading to a negative price trend for sodium benzoate.
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Definition
Sodium benzoate is the sodium salt of benzoic acid, commonly used as a preservative in various industries with a chemical formula C7H5NaO2. Sodium benzoate is a white, odorless, and crystalline powder with excellent antimicrobial properties, inhibiting the growth of bacteria, yeast, and mold. It is primarily used to extend the shelf life of food and beverages. Sodium benzoate is considered safe for consumption within regulatory limits and is a valuable additive in ensuring product quality and safety.
Key Details About the Sodium benzoate 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 Sodium Benzoate 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 Sodium Benzoate Price Index, including India Sodium Benzoate price, USA Sodium Benzoate 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 Sodium Benzoate Price Trend:
Sodium benzoate, a widely used preservative and food additive, finds several important industrial applications. In the food and beverage industry, it is employed as a preservative to extend the shelf life of products by inhibiting the growth of bacteria, yeasts, and molds. Additionally, it is utilized in the pharmaceutical industry to enhance stability and prolong the freshness of medicines and oral suspensions. Sodium benzoate's efficacy as an antimicrobial agent also makes it valuable in personal care products like cosmetics and toiletries. Furthermore, the chemical's versatile nature enables its use in various industrial processes, such as corrosion inhibition, dye intermediates, and in the creation of synthetic resins and plastics.
Key Players:
- Avantor Inc
- Merck KGA
- Wuhan Youji Industries Co Ltd
- FBC Industries Inc
- A.M. Food Chemical Co Limited
- DuPont de Nemours Inc
- Lanxess AG
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