For the Quarter Ending March 2024
North America
The Benzaldehyde price trend remain strong in the North American market during the first quarter of 2024. At the beginning of the quarter, the demand for Benzaldehyde was moderately low during the New Year holidays and firm availability of stocks in the market. However, orders increased from buyers after the holidays, and import costs surged due to notable escalations in freight costs.
During the mid-quarter, feedstock supplies were affected because of the low availability of upstream Crude Oil stocks in the global market due to production cuts by OPEC+ and rising anticipations of further Oil production cuts by OPEC+ after the cease-fire in the Israel-Hamas War. Simultaneously, the energy sector witnessed escalations in energy costs due to geopolitical tensions and positive economic data. It impacted the production rates of Benzaldehyde and raised its production costs. The orders were stable from the aromatics industries and food sector.
Towards the end of the quarter, Benzaldehyde prices continued to showcase bullish movement in the USA as orders were firm from the buyers due to the steady demand for dyes and aromatics in the manufacturing sector. At the same time, the food sector exhibited a surge in demand for Benzaldehyde due to increased consumer orders for the Easter festival.
APAC
In the first quarter of 2024, Benzaldehyde pricing dynamics in the APAC region displayed a mixed trend. At the beginning of Q1, prices inclined as the availability of stocks was inadequate in the market due to affected production rates due to firm demand for feedstock Toluene and stressed supplies of upstream Crude Oil from the Middle East exporters amid aggravated supply concerns after a missile attacked an oil tanker at the coast of Yemen. At the same time, the orders remained firm for stocking purposes from domestic buyers amid consistent consumption of flavouring agents from the food sector amid the ongoing wedding season in the country. However, in the mid-quarter, prices fell as the feedstock Toluene market witnessed a decline due to increased purchases of upstream Ural Crude Oil by producers and subdued demand from downstream industries. It reduced the production costs of Benzaldehyde. Towards the quarter's end, prices oscillated again, and prices inclined due to improved inquiries from insecticide producers amid the rise in demand from the horticulture sector in the country. At the same time, the air cargo market witnessed increased demand for the third consecutive month in March, fuelled by the expansion of e-commerce and shipping disruptions in the Red Sea, impacting air freight rates and product supplies in the international market.
Europe
In the first quarter of 2024, the European Benzaldehyde market remained stable on the higher end. Initially, supply chain delays and extended lead times hindered the availability of supplies within the regional market. However, demand was moderate from the Aromatics and dye industries. It caused a slight reduction in the Benzaldehyde market prices. During the mid-quarter, the production rates were affected by elevated energy costs and limited access to Toluene feedstock, exacerbated by supply chain disruptions stemming from heightened tensions in the Middle East. The situation was further complicated by a missile attack on an oil tanker off the coast of Yemen, leading to increased shipping traffic along alternative routes. Simultaneously, uncertainties regarding energy security in Europe arose, influenced by a pause in US LNG exports, impacting variable costs across industries. Meanwhile, the textile industry slowed down in February 2024 due to increased raw material costs and abundant previous stock availability, which negatively impacted consumption from dye manufacturers. Towards the quarter's conclusion, regional manufacturing units grappled with disruptions to production schedules due to a shortage of skilled labor. It resulted in diminished output rates and escalated operational costs. Additionally, global air cargo demand experienced its third consecutive monthly increase in March, driven by the expanding e-commerce sector and disruptions in shipping routes, particularly in the Red Sea region, leading to fluctuations in air freight rates. Consequently, Benzaldehyde prices trended upward again by the quarter's end.
For the Quarter Ending December 2023
North America
The North American Benzaldehyde prices showcases a feeble price trend as price declination in feedstock Toluene market declined the production cost. Benzaldehyde prices show decline in Q4 2023 as the bearish trading activities and high product inventories further pressurized the producers to provide discounts on the bulk purchases.
Exports of Benzaldehyde from US to other North American region weakens due to absence of product demand. The downstream personal care and fragrance market remained in a slump this quarter on the back of potential demand disruption. Suppliers and traders remain skeptical about increasing the prices due to feeble product requirement and retailers complain about limited buyer interest.
North American Benzaldehyde price fell slightly towards the end of the quarter alongside the underlying futures contract with stockpiling of inventories. Supported by feeble bids and the low operating rate of the ventures due to oversupplies, resulted in sluggish a price trend. Also, the sales of Benzaldehyde from the locale and Mexico and Canada remain extremely slow in the wake of gradual increase in product inventories.
Asia Pacific
In the APAC region, the Benzaldehyde market in the current quarter of 2023 (Q4) witnessed several significant factors that impacted prices. Firstly, oversupply and intense competition among suppliers led to a decline in prices. The market was flooded with an excessive amount of Benzaldehyde, causing an imbalance between demand and availability. This surplus of stock prompted producers and suppliers to lower prices in order to remain competitive. Secondly, the subdued performance of the food and beverage and dye industries resulted in low to moderate demand for Benzaldehyde. These industries experienced a sluggish market during the quarter, further contributing to the downward pressure on prices. In terms of plant shutdowns, no specific information was provided regarding any shutdowns during this quarter. Focusing on India, the country experienced the most significant changes in Benzaldehyde prices. The market in India was impacted by the oversupply and intense competition, leading to a decrease in prices. Additionally, the low demand from the food and beverage and dye industries further contributed to the downward pressure on prices in India. In Dec 2023, the price of Benzaldehyde CFR JNPT in India was USD 1399/MT.
Europe
When compared with the previous quarter, the price of Benzaldehyde in the European market remains plunged under the influence of limited market bids and low market offers from the downstream enterprises. Most suppliers have ample existing stocks and limited trading dynamics for fresh stock, resulting in a bearish cost support. Europe had seen its lowest Benzaldehyde offers from significant producers with no firmer offers and weak purchasing appetite. The increase in supply, weaker demand, and limited requirement from the downstream ventures has dampened any opportunity for producers to increase prices in Q4 2023. Most suppliers have ample existing stocks and limited trading dynamics for fresh stock, resulting in a bearish cost support. Europe had seen its lowest Benzaldehyde offers from significant producers with no firmer offers and weak purchasing appetite. The increase in supply, weaker demand, and limited requirement from the downstream ventures has dampened any opportunity for producers to increase prices in Q4 2023. In terms of downstream enterprises, the demand fundamentals of Benzaldehyde from the downstream personal care and fragrance industries remain weak with slow market offtakes, declining the product consumption from the end-users.
For the Quarter Ending September 2023
North America
In the third quarter of 2023, the North American market witnessed a turbulent ride in Benzaldehyde prices, marked by substantial fluctuations. July saw a notable price decrease, primarily driven by an oversupply of Benzaldehyde resulting from intense competition among suppliers and an abundance of stockpiles. The market became saturated with this chemical, leading to a mismatch between supply and demand, subsequently pushing prices downward. Fierce competition among industry players further exacerbated the situation as they battled for a share of the market. Moving into August, Benzaldehyde prices experienced a significant uptick, primarily due to a surge in the costs of Toluene. This increase in Toluene prices was spurred by the rising costs of crude oil, impacting various chemical products. Despite the pharmaceutical sector exhibiting modest growth, other industries, such as food and beverages and the dye industry, demonstrated remarkable resilience and expansion, amplifying the demand for Benzaldehyde. September mirrored the trends of July, with a substantial decline in Benzaldehyde prices. The persistent oversupply of Benzaldehyde and fierce competition among suppliers continued to disrupt the market, causing prices to decline.
APAC
During the third quarter of 2023, Benzaldehyde prices in the Asia-Pacific region exhibited a rollercoaster pattern characterized by significant fluctuations. In July, the prices experienced a notable decline in the Indian market. This drop was mainly attributed to an oversupply of Benzaldehyde, resulting from fierce competition among suppliers and excessive stockpiles. The market was inundated with the chemical, causing a disconnect between supply and demand, consequently leading to price reductions. Competition among market players exacerbated the situation as they vied for a slice of the market. August brought a sharp upswing in Benzaldehyde prices, primarily due to an 8.3% increase in Toluene prices, a key feedstock for Benzaldehyde. This rise in Toluene costs was influenced by escalating crude oil prices, impacting various chemical commodities. Despite the pharmaceutical sector's modest growth, other industries like food and beverages and the dye industry displayed remarkable resilience and expansion, increasing demand for Benzaldehyde. September saw a significant price decline, echoing July's trends. The persistent oversupply of Benzaldehyde and fierce competition among suppliers continued to disrupt the market, causing prices to fall. This narrative highlights the complex interplay between supply, demand, and competition within the Indian rubber industry.
Europe
In the third quarter of 2023, the European market for Benzaldehyde experienced a tumultuous period of price fluctuations. Like North America, July witnessed a significant price drop due to an oversupply of Benzaldehyde resulting from intense competition among suppliers and a surplus of inventory. The market became saturated with this chemical, leading to an imbalance between supply and demand, ultimately pushing prices lower as companies fiercely competed for market share. As we entered August, Benzaldehyde prices in Europe also saw a notable increase, primarily driven by a surge in the costs of Toluene. This rise in Toluene prices was influenced by the increasing costs of crude oil, which affected various chemical products. Although the pharmaceutical sector showed modest growth, other industries, such as food and beverages and the dye industry, exhibited impressive resilience and expansion, leading to a heightened demand for Benzaldehyde. September in Europe reflected the trends observed in July, with a substantial decline in Benzaldehyde prices. The persistent oversupply of Benzaldehyde and fierce competition among suppliers continued to disrupt the market, causing prices to decrease.
For the Quarter Ending June 2023
North America
Benzaldehyde prices in the North American region showed a fluctuating pattern, with an increase in April followed by a steady decrease thereafter. Benzaldehyde prices increased in the North American market in April on the back of improving market trends and increased import prices. Furthermore, rising raw material costs of toluene raised domestic production costs, thus affecting the domestic market price of benzaldehyde. Stocks remained tight and domestic demand for benzaldehyde was increasing from downstream colorants and food flavour industries. In North American markets, benzaldehyde prices decreased in May and June mainly on the back of cheap imports and decreasing raw material prices. In the market, imports have become more affordable due to the sharp decline in the prices of benzaldehyde in the exporting market. The domestic price of benzaldehyde decreased in June on the back of a notable plunge in raw material toluene prices. Although there was limited demand from the food, preservatives, and textile industries, the low-cost availability of this material contributed to significant price decreases.
APAC
Benzaldehyde prices showed a mixed trend in the Asia-Pacific region, showing an upward trend in April before steadily declining. Benzaldehyde prices in Asian markets rose in April due to improving market trends and higher import prices. In addition, rising raw material prices of toluene increased domestic production costs, further impacting the price of benzaldehyde in the domestic market. Moreover, India’s PMI hit a four-month high of 57.2 in April. Domestic industrial activity remained at a high level and the purchasing index was also favourable. Stocks were tight and demand for benzaldehyde from the downstream colorants and food flavour industries in the domestic market was increasing. Benzaldehyde prices fell in Asian markets in May and June, mainly due to the arrival of cheap imports and lower raw material prices. Imports have become more affordable for the Asian market, given the sharp decline in the exporting market. The domestic price of benzaldehyde fell in June due to a 4.2% decline in raw material toluene prices. Despite modest demand from the food, preservatives, and textile industries, the low-cost availability of this material has contributed to significant price reductions.
Europe
The benzaldehyde prices in European countries followed a rollercoaster pattern from April to June. The benzaldehyde price in Europe increased in April due to improved market trends and higher import prices. In addition, increasing raw material toluene costs increased domestic production costs and thus affected the domestic benzaldehyde price. Stocks were tight and domestic benzaldehyde demand was increasing in the downstream colorants and food flavour industry. Meanwhile, in the European market, benzaldehyde prices decreased in the month of May and in June mainly due to cheap imports and falling raw material prices in the market. Import prices have become more competitive in the market because of the sharp decrease in the benzaldehyde price in the export market. In the domestic market, the domestic price decreased in June due to a significant decrease in the prices for feedstock toluene. Although there was limited demand for Benzaldehyde in the food, preservative and textile industries, the low-cost availability of the material has contributed to the significant price decreases.
For the Quarter Ending March 2023
North America
The North American Benzaldehyde market saw uneven market progress during the first quarter of 2023. During the first half of the quarter, prices were sharply declining; however, as the quarter's end drew near, they began to stabilize. The food and beverage industries' industrial production and sales improved in March, which increased market demand for Benzaldehyde and led to a steady price increase. In addition, stockpiles weren't as high as they needed to be to fulfill demand, and the supply rate was slower than it should have been. These factors combined create an unstable demand-supply ratio and a spike in the price of Benzaldehyde.
APAC
Prices for Benzaldehyde consistently decreased in the Asia-Pacific area during the first quarter of 2023. Due to the deteriorating state of the downstream food and beverages industry and the subpar purchasing behavior of end users, the price trend for Benzaldehyde in the Asian market has been softening. Increased refinery run rates and declining energy costs in the Asian market led to the development of a strong supply. As a result, during the quarter, the price of Benzaldehyde fell precipitously due to the unstable ratio between supply and demand. As a result, the estimated price of Benzaldehyde in India in March was INR 165000/MT Ex-Mumbai.
Europe
During the first quarter of 2023, the Benzaldehyde market in Europe exhibited inconsistent market momentum. Prices continued to rise over the first half of the quarter, only to fall sharply in February. However, as the end of the quarter drew closer, prices started to stabilize. March saw an improvement in industrial production and sales for the food and beverage sectors, which raised market demand for Benzaldehyde and resulted in a consistent price rise. Additionally, the supply rate was slower than it ought to have been, and inventories weren't as high as they should have been to meet demand. An unstable demand-supply ratio and a rise in the price of Benzaldehyde were the results of these forces coming together.
For the Quarter Ending December 2022
North America
Benzaldehyde prices showed mixed sentiments in the USA market during the fourth quarter of 2022. During the first two months of Q4, Benzaldehyde prices increased owing to high inflationary pressure and volatile energy prices. Demand from the downstream dyes, perfumes, and allied industries has remained stable to firm in the regional market. In addition, feedstock Toluene prices have increased, resulting in the high production cost of Benzaldehyde. Although, during the last month of Q4, Benzaldehyde prices have slightly decreased due to the region's weak demand and sufficient inventory level. Furthermore, manufacturing activity contracted in December, and the Purchasing manufacturing index dropped from 49.0 to 48.4 in December, indicating a slowdown in manufacturing and industrial activity.
Asia-Pacific
Benzaldehyde prices decreased in Asia- the Pacific region throughout the fourth quarter of 2022. In China, Benzaldehyde prices dropped due to the muted demand dynamics amid soft consumer sentiment caused by the slow performance of downstream dyes, the perfume industry, and covid lockdown. Meanwhile, demand from the overseas market has also remained on the weak side due to the downturn in the global economy. Similarly, in India, both domestically produced and imported material prices have been lower. The decline in the prices was attributed to the bearish demand from the downstream dyes, food, and flavoring industry. Meanwhile, sufficient inventory is available to cater to the overall domestic demand.
Europe
Prices of Benzaldehyde dropped in the European market during the fourth quarter of 2022 as downstream demand remained subdued while material availability increased throughout the quarter. The sharp drop in the freight rates increased the material available on European shores while the demand dropped in the Asian market. Additionally, natural gas prices stabilized in the regional market after the upheaval in Q3, which softened the production cost of Benzaldehyde. On the other hand, feedstock Toluene prices dropped. In addition, demand from the downstream food and flavoring, dyes, and perfumes, along with other competitive industries, has continued to remain bearish due to the sluggish buying sentiment and slow growth of key industries.
For the Quarter Ending September 2022
North America
Benzaldehyde prices have witnessed mixed sentiments in the USA market during the third quarter of 2022 due to fluctuation in the feedstock pressure. During July, Benzaldehyde prices have gained upward momentum, as the high raw material Toluene prices. Further, turmoil in the energy prices and high inflation have contributed to the price increase in the regional market. Also, limited inventory level coupled with increased demand from the domestic and international markets. However, during August and September, Benzaldehyde prices dropped due to weak cost support from the feedstock and bearish demand from the downstream food and flavoring and allied industries. Meanwhile, supply dynamics remained under pressure as the key exporting port of Houston witnessed port congestion that restricted the availability of the material across the overseas market. However, weak demand from the European nations and Asian countries resulted in the limited impact of reduced supply on the overall prices of Benzaldehyde. Prices of Benzaldehyde plunged by more than 3% during September 2022.
Asia- Pacific
Benzaldehyde prices showed mixed sentiments in the Indian market during the third quarter of 2022. During July, Benzaldehyde prices increased by 2.2% due to the improving demand from the downstream agrochemical and food and flavoring industries. However, during August and September, Benzaldehyde prices dropped to the weak cost pressure from the feedstock prices. The downstream market has lowered, and fewer orders were observed from the downstream food, flavoring, and allied industries. The downstream market players were more cautious due to global economic challenges in buying goods and followed a wait-and-see approach. In addition, cheap imports from the exporting countries caused the Benzaldehyde prices to increase in the domestic market. However, with the onset of the festive season in India, the demand fundamentals are likely to strengthen in the Indian domestic market. Benzaldehyde CFR JNPT prices were assessed at USD 2106/MT during September 2022.
Europe
Since the Russia-Ukraine escalations, the European countries have faced strong headwinds due to the crisis in natural gas supply and high prices of the available material. The limited natural gas supply has imposed downside risks on the manufacturing capacities of the downstream sectors. Benzaldehyde prices have continued to fall in the European market during the third quarter of 2022. The latest drop in the price trend has been caused by a steady flow of cheaper imports from the Asian and North American regions. In addition, the domestic cost of production continues to remain high due to elevated energy and operating costs, resulting in weak output rates. Furthermore, low feedstock Toluene and Chlorine prices caused Benzaldehyde to drop further in the regional market. In addition, an excessive slowdown in manufacturing output across Europe amid the energy crisis in the region. In addition, Eurozone Manufacturing Purchasing Index (PMI) fell from 49.6 points to 48.5 points in September 2022. Also, the inflows of new orders fell as demand for Benzaldehyde from the food and flavoring industries continued to drop. As a result, prices of Benzaldehyde in Germany fell by more than 6 % during September.
For the Quarter Ending June 2022
North America
Benzaldehyde prices have been rising throughout the second quarter of 2022 instead of a hampered material supply. Demand fundamentals have been buoyant throughout the region as downstream food and flavouring industries attempt to maintain the balance. However, supply witnessed disturbed dynamics across the region on the back of high input costs that led producers to raise the price of materials for domestic and international converters. Furthermore, global inflation has been forcing the prices of Benzaldehyde to follow an upward trajectory. In addition, the USA also imports a certain percentage of its consumption from Asian and European producers. Thus, expensive overseas materials further supported the current price trend of Benzaldehyde in the regional market. Consequently, increased product charges partially pass the cost burden to customers to protect their profit margins. As a ripple effect, prices of Benzaldehyde FOB Texas were settled in the range of USD 1327/MT to USD 1352/MT during June.
Asia- Pacific
In contrast to the last quarter of 2022, Benzaldehyde showed positive market sentiments in the Asia-Pacific region during Q2 2022. Prices of Benzaldehyde witnessed an upward momentum in the Indian market, backed by the limited supply and high demand. Additionally, volatile crude value amidst the Russia-Ukraine war has positively impacted the raw material cost; notably, Toluene and Chlorine, which in led forced Benzaldehyde to follow the uptrend in the domestic market. Furthermore, Since the arrival of the summer season, the Indian market has been experiencing seasonal offtakes from the domestic market, and demand from the downstream Food and Flavouring, pharmaceutical, as well as cosmetics industries has remained robust. Also, India is a majorly imported commodity, and the price of imported materials is increasing due to simultaneously escalating maritime costs. However, freight cost was to be stabilizing in the mid of May, nevertheless, freight cost still being on the top note that further weighed on the high pricing of Benzaldehyde. Thus, prices of Benzaldehyde CFR JNPT were assessed at around USD 2264/MT throughout the June.
Europe
During the quarter ending June, Benzaldehyde prices in Europe indicated an upward trajectory due to an upsurge in demand in the regional market. In addition, the skyrocket upstream Crude oil value has proportionated the raw material Toluene and Chlorine, which further impacted the prices of Benzaldehyde. Furthermore, many downstream industries have been attempting to maintain balance; hence, downstream market dynamics have been buoyant in Europe. However, supply fundamentals continued to be imbalanced as domestic production has cut its operating rates on account of the high energy cost in the European region. At the same time, import prices of the material have continued to rise due to robust demand for material in the regional market coupled with a high maritime cost which further provoked the price of Benzaldehyde to follow an upward trend across the regional market. As a ripple effect, the price of Benzaldehyde was settled in the range of USD 1640/MT to USD 1642/MT throughout June.
For the Quarter Ending March 2022
North America
The Benzaldehyde showcased an upward trend during the first quarter of 2022 owing to increased demand for Benzaldehyde in the pharmaceutical sector as an intermediate. Besides the increased demand, rerouting in shipments due to the Russia-Ukrainian conflict led to delayed supplies in the international market. Furthermore, container freight rates were high as the shortage of cargoes persisted in the US. Also, the surged upstream crude oil value has affected the feedstock Toluene and Chlorine, which consecutively supported the upward price trend of Benzaldehyde across the region. Benzaldehyde prices in the USA surged by nearly USD 200/MT in the quarter ending March in the USA.
Asia-Pacific
In contrast to the last quarter of 2021, Benzaldehyde showed positive market sentiments in the Asia-Pacific region during Q1 2022. Prices remained uphill on the back of crippling availability of the product in the region. The geopolitical tension between Russia and Ukraine impacted all commodity markets. Supply shortage and growing demand from the downstream pharmaceutical solvents induced cost pressure on petrochemicals such as Benzaldehyde. As India relies on China for the imports of Benzaldehyde, implementation of ‘Zero Covid Policies’ has delayed production and trading activities, resulting in high freight charges because of container shortage, which led to the supply deficit in the Indian market. The prices of Benzaldehyde CFR JNPT were assessed at USD 2123/MT during March 2022.
Europe
During the quarter ending March, Benzaldehyde prices in Europe indicated an upward trajectory due to an upsurge in demand in the regional market. Besides, geopolitical tension has led the crude prices to skyrocket, which impacted feedstock Toluene and Chlorine costs, pressuring the Benzaldehyde price to increase. The increased crude price has severely affected the petroleum feedstocks, influencing road and rail transportation. On the other hand, the spike in demand from pharmaceutical industries as an intermediate has also boosted the cost of Benzaldehyde. Thus, the value of Benzaldehyde escalated to USD 2805 per MT in Germany.
For the Quarter Ending December 2021
North America
Benzaldehyde levels have been steadily growing in North America throughout Q4. Prices have been impacted by a lack of upstream Toluene supply in the early months of the year due to lesser import volumes, lower inventory levels, and reduced refinery operating rates. Benzaldehyde prices in the United States were supported by growing crude oil prices. Moreover, during the quarter, supply chain issues contributed to the burdens of both producers and procurers. Prices have risen due to strong demand from downstream sectors such as flavouring agents, dyes, and perfumes. In December, CFR prices were reported to be USD 2,255.
Asia
Benzaldehyde showed mixed sentiments in Q4 in the APAC region, because of port closures and lockdowns owing to Covid 19 in various areas of the world, Benzaldehyde prices have risen in the Asian market during the first half of Q4. The rising demand for Benzaldehyde in the production of agrochemicals such as insecticides and herbicides has pushed up the price of the chemical. The price of upstream chlorine and toluene has risen, resulting in a price increase for Benzaldehyde, which was roughly INR 126800/MT CFR JNPT in December. In December, Benzaldehyde prices dropped as demand from downstream industries remained unchanged. Crude oil price fluctuations are one of the most significant impediments to the Benzaldehyde. Meanwhile, over the winter months, sluggish demand from domestic paints and coatings divisions attempted to maintain the market price of Benzaldehyde constant.
Europe
Benzaldehyde availability in Europe remained short due to relative reduction in Toluene operating rates due to high energy cost and climate crises. The force majeure by Vinnolit at its plant further tumbled the availability of its Chlorine in the first half of the quarter ending December, which is used as raw material for Benzaldehyde. Although the availability started levelling by late-November with resumption in the plant activities, however prices of Benzaldehyde remained high due to high energy prices.
For the Quarter Ending September 2021
North America
In North America, Benzaldehyde prices retained steadiness during the third quarter. Benzaldehyde market embarked a study demand from the downstream dyes, perfume, pharmaceuticals, and other sectors. Meanwhile, the surge in the upstream Toluene also derived the prices of Benzaldehyde in this timeframe. In addition, the arrival of the Ida hurricane in the Gulf Coast USA impacted the local energy supply comprised of transportation fuel and electricity. Several manufacturers were compelled to shut down their production facilities as a repercussion of hurricane Ida, which consequently fumed the prices of Benzaldehyde. Thus, Hurricane Ida’s massive and unexpectedly prolonged disruption to output in the gulf coast has been surging the prices of various chemicals and their derivatives.
Asia
Asian market registered a steep climb in prices of Benzaldehyde during Q3. Meanwhile, the sharp rebound in industrial activities with full efficacy bolstered the demand for Benzaldehyde from the domestic as well as international market in China. Similarly in India, Benzaldehyde prices observed an exponential rise due to the improving demand from downstream sectors along with the Spiraling freight charges. Therefore, Benzaldehyde prices maintained firmness during this quarter in Asian market, supported by the congestion on the several ports of China that led to supply chain disruption. In India, prices soared throughout the quarter, Benzaldehyde Ex Mumbai prices witnessed an increment of USD 191.17/MT from July to September, which settled at USD 1859.16/MT in September.
Europe
In Europe, market sentiments of Benzaldehyde continued to be firm throughout the quarter, supported by ample offtakes from the downstream personal care sector. In the beginning of quarter, major European economies pushed up their industrial activities thus, a sharp resurgence in the demand and consumption was observed for Benzaldehyde across the region. In addition, extremely high freight charges, as well as container shortage, led to the lower imports that also contributed to the upsurge in the pricing trend of Benzaldehyde.
