Nitrobenzene Price in USA
- United States: 1670 USD/MT
In December of Q4 2023, the price of nitrobenzene in the United States peaked at 1670 USD/MT. The market remained stable during this period, characterized by moderate demand, significant imports, and ample product inventories.
The latest report by IMARC, titled "Nitrobenzene Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data" delivers a comprehensive analysis of nitrobenzene prices on a global and regional scale, highlighting the pivotal factors contributing to price changes. This detailed examination includes spot price evaluations at key ports and an analysis of pricing structures, such as Ex Works, FOB, and CIF, across North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Nitrobenzene Prices December 2023:
- United States: 1670 USD/MT
- China: 1650 USD/MT
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The study delves into the factors affecting nitrobenzene 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.
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Nitrobenzene Price Trend- Q4 2023
The nitrobenzene market was primarily driven by several key factors, particularly in North America, Asia Pacific, and Europe. In North America, despite pessimistic sentiment in the last quarter of FY23, the market saw resilience due to various factors. One major driving force was the demand from the construction sector, particularly in commercial construction, which witnessed procurement for nitrobenzene-derived methylene diphenyl diisocyanate (MDI). Additionally, the agrochemical sector contributed to stable demand, supported by favorable cropping seasons. Furthermore, the pharmaceutical industry exhibited robust demand, propelled by flexible people spending and escalating healthcare costs. Moreover, the automotive and polymer sectors continued to be substantial drivers for Nitrobenzene derivatives volume, with Japan and Korea emerging as leading suppliers to the North American market. Overall, despite challenges like pending orders and weak energy prices, various sectors contributed to sustaining the nitrobenzene market in North America.
Nitrobenzene Market Analysis
The global nitrobenzene market size reached US$ 11.9 Billion in 2023. By 2032, IMARC Group expects the market to reach US$ 19.2 Billion, at a projected CAGR of 5.50% during 2023-2032. Moreover, in the Asia Pacific region, the nitrobenzene market displayed optimistic sentiment in the same period, fueled by similar factors seen in North America. Agrochemical demand remained stable, supported by favorable cropping seasons, while the pharmaceutical sector exhibited strong demand due to rising healthcare costs and challenges posed by lung infections. Moreover, government-approved schemes aimed at energy efficiency contributed to the rising demand for heat insulation and refurbishments in Korean and Japanese markets. Like North America, automotive and polymer sectors played pivotal roles in driving nitrobenzene derivatives volume, with Japan and Korea serving as major suppliers. Additionally, festivities and pent-up demand, combined with deliveries of the previous quarter, bolstered the market in the Asia Pacific region.
Meanwhile, in Europe, the policy of EU on transitioning to sustainable energy continued to drive the polyurethane market, indirectly influencing the nitrobenzene market. Despite facing difficulties from high-interest rates, festivities, pent-up demand, and previous quarter deliveries contributed to maintaining relative strength in the nitrobenzene market in Europe during Q4FY23. Overall, various sectors, including automotive, polymer, construction, and pharmaceuticals, alongside governmental policies, emerged as propelling factors influencing the nitrobenzene market across different regions, particularly towards the end of the quarter.
Browse Full Report: https://www.imarcgroup.com/nitrobenzene-pricing-report
Key Points Covered in the Nitrobenzene Pricing Report:
The report delivers the following key findings, alongside a comprehensive breakdown of prices by region:
- Nitrobenzene Prices
- Nitrobenzene Price News
- Nitrobenzene Demand & Supply
- Nitrobenzene Market Analysis
- Demand Supply Analysis by Type
- Demand Supply Analysis by Application
- Demand Supply Analysis of Raw Materials
- Nitrobenzene Price Analysis
- Nitrobenzene Industry Drivers, Restraints, and Opportunities
- Nitrobenzene News and Recent developments
- Global Event Analysis
- List of Key Players
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
Browse More Pricing Reports By IMARC Group:
Note: The current country list is selective, detailed insights into additional countries can be obtained for clients upon request.
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