May 23, 2025
IndexBox has just published a new report: United Kingdom – Benzoic Acid, Its Salts And Esters – Market Analysis, Forecast, Size, Trends And Insights.
Driven by increasing demand, the benzoic acid market in the UK is set to experience growth in both volume and value over the next decade. With a projected CAGR of +0.5% for volume and +2.0% for value from 2024 to 2035, the market is expected to reach 6.1K tons and $16M respectively by the end of 2035.
Market Forecast
Driven by rising demand for benzoic acid in the UK, the market is expected to start an upward consumption trend over the next decade. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +0.5% for the period from 2024 to 2035, which is projected to bring the market volume to 6.1K tons by the end of 2035.
In value terms, the market is forecast to increase with an anticipated CAGR of +2.0% for the period from 2024 to 2035, which is projected to bring the market value to $16M (in nominal wholesale prices) by the end of 2035.
ConsumptionUnited Kingdom’s Consumption of Benzoic Acid, Its Salts And Esters
In 2024, consumption of benzoic acid, its salts and esters increased by 11% to 5.8K tons, rising for the second consecutive year after two years of decline. In general, consumption, however, saw a mild slump. Over the period under review, consumption attained the peak volume at 8.4K tons in 2016; however, from 2017 to 2024, consumption failed to regain momentum.
The size of the benzoic acid market in the UK expanded markedly to $13M in 2024, picking up by 8.5% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers’ margins, which will be included in the final consumer price). Overall, consumption, however, saw a slight shrinkage. Over the period under review, the market hit record highs at $16M in 2017; however, from 2018 to 2024, consumption stood at a somewhat lower figure.
ProductionUnited Kingdom’s Production of Benzoic Acid, Its Salts And Esters
In 2024, approx. 393 tons of benzoic acid, its salts and esters were produced in the UK; waning by -2.3% on the previous year’s figure. Overall, production saw a abrupt shrinkage. The pace of growth appeared the most rapid in 2019 when the production volume increased by 36%. Benzoic acid production peaked at 3.1K tons in 2014; however, from 2015 to 2024, production stood at a somewhat lower figure.
In value terms, benzoic acid production dropped remarkably to $1.8M in 2024 estimated in export price. Over the period under review, production saw a deep contraction. The most prominent rate of growth was recorded in 2019 when the production volume increased by 78% against the previous year. Over the period under review, production hit record highs at $19M in 2014; however, from 2015 to 2024, production stood at a somewhat lower figure.
ImportsUnited Kingdom’s Imports of Benzoic Acid, Its Salts And Esters
In 2024, supplies from abroad of benzoic acid, its salts and esters increased by 7.8% to 7.5K tons, rising for the second consecutive year after two years of decline. Overall, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when imports increased by 19% against the previous year. Over the period under review, imports reached the maximum at 10K tons in 2020; however, from 2021 to 2024, imports failed to regain momentum.
In value terms, benzoic acid imports rose significantly to $17M in 2024. In general, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 14%. Imports peaked at $20M in 2022; however, from 2023 to 2024, imports failed to regain momentum.
Imports By Country
The Netherlands (4.2K tons), China (2.4K tons) and Estonia (604 tons) were the main suppliers of benzoic acid imports to the UK, together comprising 96% of total imports.
From 2013 to 2024, the biggest increases were recorded for Estonia (with a CAGR of +120.2%), while purchases for the other leaders experienced mixed trend patterns.
In value terms, the Netherlands ($9.6M) constituted the largest supplier of benzoic acid, its salts and esters to the UK, comprising 55% of total imports. The second position in the ranking was taken by China ($4.2M), with a 24% share of total imports. It was followed by Estonia, with a 9.3% share.
From 2013 to 2024, the average annual growth rate of value from the Netherlands amounted to +1.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-1.0% per year) and Estonia (+89.5% per year).
Import Prices By Country
The average benzoic acid import price stood at $2,291 per ton in 2024, shrinking by -2.6% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of 44% against the previous year. Over the period under review, average import prices reached the peak figure at $2,967 per ton in 2022; however, from 2023 to 2024, import prices stood at a somewhat lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($3,941 per ton), while the price for China ($1,759 per ton) was amongst the lowest.
From 2013 to 2024, the most notable rate of growth in terms of prices was attained by Romania (+4.2%), while the prices for the other major suppliers experienced more modest paces of growth.
ExportsUnited Kingdom’s Exports of Benzoic Acid, Its Salts And Esters
In 2024, overseas shipments of benzoic acid, its salts and esters decreased by -0.7% to 2.2K tons, falling for the second consecutive year after three years of growth. Overall, exports continue to indicate a noticeable reduction. The most prominent rate of growth was recorded in 2022 when exports increased by 47%. As a result, the exports attained the peak of 3.6K tons. From 2023 to 2024, the growth of the exports remained at a lower figure.
In value terms, benzoic acid exports declined notably to $8.8M in 2024. In general, exports saw a perceptible curtailment. The pace of growth appeared the most rapid in 2022 when exports increased by 124%. As a result, the exports reached the peak of $23M. From 2023 to 2024, the growth of the exports remained at a lower figure.
Exports By Country
Poland (320 tons), the Netherlands (299 tons) and Spain (288 tons) were the main destinations of benzoic acid exports from the UK, with a combined 42% share of total exports. Ireland, Germany, the United States, France, the Philippines, Thailand and Italy lagged somewhat behind, together accounting for a further 46%.
From 2013 to 2024, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Philippines (with a CAGR of +79.2%), while the other leaders experienced more modest paces of growth.
In value terms, the largest markets for benzoic acid exported from the UK were Poland ($1.5M), Ireland ($1M) and Spain ($1M), with a combined 40% share of total exports. Germany, the Netherlands, the United States, France, the Philippines, Thailand and Italy lagged somewhat behind, together accounting for a further 45%.
Among the main countries of destination, the Philippines, with a CAGR of +72.8%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.
Export Prices By Country
The average benzoic acid export price stood at $4,094 per ton in 2024, declining by -23.8% against the previous year. Overall, the export price continues to indicate a pronounced setback. The most prominent rate of growth was recorded in 2022 when the average export price increased by 52%. The export price peaked at $6,478 per ton in 2014; however, from 2015 to 2024, the export prices stood at a somewhat lower figure.
There were significant differences in the average prices for the major foreign markets. In 2024, amid the top suppliers, the country with the highest price was Italy ($5,396 per ton), while the average price for exports to the Netherlands ($2,925 per ton) was amongst the lowest.
From 2013 to 2024, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+6.0%), while the prices for the other major destinations experienced more modest paces of growth.