In Asia, benzoyl chloride prices underwent a decline throughout both quarters of 2023. This trend was primarily influenced by decreased procurement from pharmaceutical and related industries, coupled with a reduction in manufacturing activities. Despite low production rates, ample inventories met the subdued demand, leading to the dip in prices.
In Europe, the first quarter witnessed price surges driven by escalating feedstock costs and heightened demand from end-users. However, the second quarter faltered due to reduced inquiries from agriculture, perfumes, and resin industries. This decline was further compounded by drops in feedstock costs amidst high inflation and interest rates.
Similarly, North America experienced a similar pattern, with price surges in the first quarter supported by robust demand from downstream sectors. However, the second quarter saw subdued dynamics in agriculture, perfumes, and pharmaceuticals, alongside drops in production costs amid challenges within the North American market. These factors collectively influenced the pricing trends observed in benzoyl chloride across these regions.
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Definition
Benzoyl chloride possesses distinct properties crucial for various applications. It is a colorless liquid with a pungent odor, highly reactive due to its acyl chloride group. It is sparingly soluble in water but reacts with it vigorously. Benzoyl chloride’s reactivity enables it to be used as an intermediate in chemical synthesis, including pharmaceuticals, dyes, and perfumes. Its ability to introduce benzoyl groups in reactions makes it valuable in organic chemistry. However, its strong reactivity demands careful handling and storage, as exposure to moisture or water can lead to hazardous reactions.
Key Details About the Benzoyl Chloride 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 Benzoyl Chloride 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 Benzoyl Chloride Price trends, including India Benzoyl Chloride price, USA Benzoyl Chloride 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 Benzoyl Chloride Price Trend:
Benzoyl chloride’s reactivity and functional properties make it indispensable across diverse industrial applications. In the pharmaceutical sector, it assumes a pivotal role as a key intermediate in synthesizing drugs and various pharmaceutical compounds, contributing to the production of essential medications.
Within the dye industry, benzoyl chloride finds utility in the production of dyes and pigments, while in the fragrance and perfume industry, it plays a crucial role in creating aromatic compounds that define scents and perfumes.
Moreover, its significance extends to the production of plastics, resins, and polymers, where it functions as a cross-linking agent and initiator, contributing to the formation of durable and resilient materials.
In organic synthesis, benzoyl chloride’s reactivity is harnessed for modifying various compounds, showcasing its versatility in manipulating chemical structures for diverse applications.
However, it’s essential to exercise caution while handling benzoyl chloride due to its corrosive and hazardous nature, emphasizing the importance of proper safety measures in its industrial usage.
Key Players:
- Lanxess AG
- Shanghai Xinglu Chemical Technology Co Ltd
- Nippon Light Metal Co Ltd
- Valtris Specialty Chemicals
- Hubei Phoenix Chemical Company Limited
- Benzochem Industries Pvt Ltd
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