Benzyl Nitrile Market Analysis: Pricing Trends, Forecasts, and Insights by Procurement Resource
Definition
Benzyl Nitrile is an organic compound commonly used in various industries. It serves as a versatile building block in chemical synthesis and finds applications in the production of pharmaceuticals, dyes, and other chemical products.
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Key Details About the Benzyl Nitrile Price Trend:
Throughout 2023, the pricing of Benzyl Nitrile mirrored the patterns of feedstock benzyl chloride and metal cyanide. Market prices were diverse during this period, with the first quarter witnessing bearish sentiments, particularly in the Asian markets due to high inventory levels. However, Europe and the US experienced higher prices in the first quarter, followed by fluctuations in the second quarter. This fluctuation was largely influenced by increased production from Chinese facilities after the Lunar New Year holidays, resulting in a surge of cheap Asian exports to other regions. The easing of transportation costs and freight restoration also played a role in reducing upstream costs.
Industrial Uses Impacting the Benzyl Nitrile Price Trend:
Benzyl Nitrile plays a crucial role in diverse industries. It is utilized as a disinfectant byproduct and drinking water contaminant, while also serving as a key ingredient in pharmaceuticals, dyes, and perfumes. Additionally, it finds application in pesticides, penicillin manufacturing as a precursor, organic synthesis, intermediate manufacturing chemicals, as well as personal care products and cosmetics.
Key Players:
- Central Drug House
- SynQuest Laboratories (Central Glass Co., LTD.)
- Sheetal Chemicals
- Anjanee Chemical India
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