nitrobenzene Pricing Assessment

Markets Covered:

India

Singapore

Korea

United States

Nitrobenzene Price Trend, Analysis and Forecast

In Q1 2024, the global Nitrobenzene market experienced a decreasing trend, particularly in South Korea, a key player in the Asia-Pacific (APAC) region. Prices in South Korea were reported at $974.8/MT, reflecting a -9.75% decline from the previous quarter. This drop was mainly due to sluggish demand from the downstream industries, particularly in the production of aniline, which is used in manufacturing MDI for polyurethane foams. The overall slowdown in the construction and automotive sectors, both major consumers of these foams, contributed to the lower demand for Nitrobenzene. Additionally, a slight easing in crude oil prices also led to lower raw material costs, further pulling down prices in Q1. Global factors like reduced industrial activity and improved supply chain efficiency contributed to the market’s overall stability.

In Q2 2024, Nitrobenzene prices in South Korea showed a slight recovery, reaching $987.333/MT, reflecting a positive trend with a 1.29% increase from Q1. The rebound was mainly driven by renewed demand from the construction and automotive sectors, as the global economy started showing signs of recovery. Crude oil prices saw a moderate increase during this period, which, combined with higher production costs, pushed Nitrobenzene prices upward. Globally, the demand for Polyurethane foams and related products also started to pick up, further supporting the positive trend. Additionally, supply chain bottlenecks in certain regions added pressure to the market, contributing to the gradual price increase.

In Q3 2024, the Nitrobenzene market in South Korea continued its upward trend, with prices in July reported at $995/MT, +0.51% increase from June. This slight increase was supported by stable demand from the downstream industries, particularly as construction activity picked up during the summer months. On a global scale, the market was influenced by ongoing geopolitical tensions, which led to fluctuating crude oil prices and affected the cost of raw materials. However, improved supply chain conditions and an easing of inflationary pressures helped keep the market relatively stable. As the automotive and construction sectors continued to recover, the demand for Nitrobenzene and its derivatives remained solid.

Looking ahead to Q4 2024, the Nitrobenzene market is expected to remain stable with the potential for a slight price increase. With the festive season approaching and the expected rise in demand for consumer goods, the construction and automotive sectors may see a further boost, driving up the need for Nitrobenzene. Additionally, global crude oil price fluctuations, geopolitical factors, and potential disruptions in raw material could add some volatility to the market. In South Korea, consistent demand from downstream industries is likely to support the market, although any unexpected shifts in global oil prices could influence the market’s behaviour in the upcoming quarter.

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is your trusted resource for tracking global nitrobenzene price trends. Our platform delivers real-time data and expert analysis, offering deep insights into the key factors driving price fluctuations in the nitrobenzene market. By monitoring critical events such as geopolitical tensions, supply chain disruptions, and economic shifts, keeps you fully informed of market dynamics.

In addition, provides detailed forecasts and updates on production capacities, enabling you to anticipate market changes and make well-informed decisions. With , you gain a competitive edge in understanding all the elements that influence nitrobenzene prices worldwide. Stay ahead of the curve with ’s reliable, accurate, and timely nitrobenzene market data.

Track 's nitrobenzene price assessment on a weekly basis since 2015 onwards, along with short-term forecasts, and get access to the detailed report in a downloadable format.

Historically, several events have caused significant fluctuations in nitrobenzene prices

Russia-Ukraine Conflict (2022-Present): The ongoing conflict led to disruptions in the global supply chain for raw materials, impacting the chemical industry, including nitrobenzene, causing price volatility.

Texas Winter Storm (2021): This severe weather event disrupted chemical production in the U.S., including nitrobenzene, leading to temporary supply shortages and price hikes.

COVID-19 Pandemic (2020): The pandemic caused significant demand fluctuations in the nitrobenzene market. While demand dropped initially due to industrial shutdowns, it rebounded as the economy restarted, driven by the recovery in sectors like construction and automotive.

Environmental Regulations (2019-Present): Stricter environmental regulations, particularly in China and the European Union, have impacted the production and usage of nitrobenzene, leading to increased production costs and price fluctuations.

Trade Disputes (2018-2019): Ongoing U.S.-China trade tensions affected global supply chains, creating uncertainty in the chemical markets, including nitrobenzene, and contributing to price instability.

Methodology and Specifications

nitrobenzene Pricing Assessment Research Methodology

Data Collection and Sources

Real-Time Market Data: collects real-time pricing data from various sources, including global commodity exchanges, industry reports, and proprietary databases. This ensures our assessments reflect the most current market conditions.

On-the-Ground Intelligence: Our team gathers insights directly from key market participants, such as producers, suppliers, traders, and end-users, across major nitrobenzene production hubs. This local intelligence helps us understand unique market dynamics.

Supply Chain Monitoring: We closely track the entire nitrobenzene supply chain, from raw materials like aniline and benzene, to production and distribution. We monitor feedstock prices, production capacities, and logistics to provide a complete picture of supply chain health.

Event Tracking and Impact Analysis

Regulatory Changes and Environmental Policies: Given nitrobenzene’s chemical nature, changes in environmental regulations, such as tighter restrictions on emissions or waste management, can significantly impact production and pricing. We track these shifts to assess their influence on market trends.

Industrial Disruptions: Our analysis includes tracking industrial events like plant shutdowns, strikes, or accidents at nitrobenzene production facilities, which can affect supply and pricing. We assess how these disruptions impact both short-term supply and long-term market outlook.

Economic Trends: We also evaluate macroeconomic factors, such as changes in demand for nitrobenzene in downstream industries like dyes, pharmaceuticals, and rubber chemicals. Fluctuations in these sectors can signal shifts in demand and influence pricing trends.

Production Capacity and Supply Analysis

Current Production Monitoring: We maintain a global database of nitrobenzene production facilities, keeping track of their operational status, maintenance schedules, and output levels. This helps us assess the current supply situation and provide accurate insights.

Future Capacity Projections: Our research includes detailed forecasts for upcoming nitrobenzene production capacities, factoring in new plant developments, expansions, and technological advancements. This allows us to predict future supply levels and assess potential price movements.

Demand Forecasting

Sectoral Demand Analysis: provides detailed analysis of nitrobenzene demand trends across key sectors, such as agriculture (pesticides), pharmaceuticals, and rubber chemicals. We track year-on-year demand growth and project future consumption patterns based on economic indicators and industry trends.

Global Demand Dynamics: Our methodology considers regional demand variations and their influence on global nitrobenzene pricing. This includes understanding the impact of shifting manufacturing bases, changes in trade policies, and regional supply-demand balances.

Pricing Model Development

Dynamic Pricing Models: uses advanced econometric models to forecast nitrobenzene prices, leveraging real-time data, historical trends, and future market conditions. Our models are continuously updated to ensure high accuracy.

Scenario Analysis: We perform scenario-based assessments to evaluate potential market conditions, including best-case, worst-case, and most-likely outcomes. This helps our clients prepare for a range of market developments and make informed decisions.

Reporting and Client Support

Comprehensive Reports: Our clients receive detailed reports that include current price assessments, future price forecasts, and an in-depth analysis of market drivers. These reports are designed to provide clear insights and actionable recommendations.

Ongoing Support: offers continuous updates and personalized support, ensuring clients have the most up-to-date information to make well-informed decisions. Our experts are available to discuss specific market developments and provide tailored advice.

This methodology ensures that delivers the most accurate, timely, and actionable nitrobenzene pricing assessments, helping our clients stay ahead of market trends and make informed business decisions.

Specifications

Molecular Weight[g/mol]

123.11 g/mol

CAS No

98-95-3

HS Code

29042010

Molecular Formula

C6H5NO2

nitrobenzene

Nitrobenzene is a pale yellow to brownish oily liquid with an almond-like Odor, primarily used as an intermediate in the production of aniline, which is further processed into dyes, rubber chemicals, pharmaceuticals, and agricultural chemicals. Nitrobenzene is also used as a solvent in some industrial applications and as a precursor in the synthesis of various organic compounds.

Packaging Type

Tanker, Drum (200Kg)

Grades Covered

Industrial Grade (>99%)

Incoterms Used

FOB Busan, Ex-Mumbai, CIF Houston, CIF Nhava Sheva, CIF Port of Singapore (South Korea)

Synonym

Mirbane oil

Quotation Terms:

25-30 MT (Export-Import), 10-15 MT (Domestic)

Ex-Location: This incoterm refers to a shipping agreement where the seller makes the goods available at their premises, and the buyer is responsible for all transportation costs, including shipping, insurance, and any other fees.
CIF: CIF refers to the Cost, Insurance, and Freight (CIF) terms for goods. Under CIF terms, the seller is responsible for the cost of goods, insurance, and freight charges until the goods reach the port of destination.
FD: FD stands for Free Delivered where the seller takes full responsibility for delivering goods to the location/port. This ensures the buyer receives the goods at the designated port with all necessary costs, except import duties, covered.
FOB: FOB refers to the Free On-Board shipping term, where the seller is responsible for the cost and risk of delivering the goods to the port. Once the goods are on board the vessel, the responsibility shifts to the buyer for all costs, including shipping and insurance.

Properties	Specification
Boiling point	211 °C (1013 h Pa)
Density	1.20 g/cm3 (20 °C)
Explosion limit	1.8 - 40 %(V)
Flash point	88 °C
Ignition temperature	480 °C DIN 51794
Melting Point	5.26 °C
pH value	8.0 - 8.5 (1.00000 g/l, H₂O, 20.0 °C)
Vapor pressure	0.2 h Pa (20 °C)
Refractive Index	1.553 (20 °C, 589 nm)
Solubility	1.90 g/l

Applications

Aniline Production: Approximately 90% of nitrobenzene is used to manufacture aniline, which is essential for producing dyes, pigments, and polyurethane. Agriculture: Nitrobenzene is used as a plant growth stimulant in fertilizers and pesticides. Rubber Chemicals: It is a key ingredient in producing accelerators for the vulcanization of rubber. Pharmaceuticals: Nitrobenzene acts as a precursor for the synthesis of several drugs. Perfumes and Polishing Products: In limited quantities, nitrobenzene is sometimes used as a masking agent in polishes and fragrances. Due to its toxicity and environmental impact, nitrobenzene must be handled with care in industrial processes, adhering to safety regulations to prevent harmful exposure.

Disclaimer

Nitrobenzene price provided by is a base price and excludes VAT/Taxes, discounts, or offers. The information herein is accurate to the best of our knowledge as of the date indicated and is provided solely for the convenience of our customers as a reference for nitrobenzene. disclaims any warranties or representations regarding the accuracy of results derived from this information. It is the sole responsibility of the user to assess the suitability of the product for their specific application. This document does not constitute an endorsement to use the product in violation of any applicable patent rights.

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Frequently asked questions

What factors influence Nitrobenzene pricing in the global market? +

Nitrobenzene prices are primarily driven by fluctuations in the cost of raw materials like benzene and nitric acid, which are used in its production. Additionally, supply chain disruptions, regional production capacities, changes in environmental regulations, and demand from key industries such as agriculture, rubber chemicals, and pharmaceuticals can significantly impact pricing. Other factors like geopolitical events, trade policies, and transportation costs also play a role in determining the market price.

How can procurement heads anticipate price fluctuations in Nitrobenzene? +

Procurement heads can anticipate Nitrobenzene price fluctuations by closely monitoring key market indicators such as feedstock (benzene) price trends, changes in production capacities, and regulatory shifts. Keeping an eye on global economic conditions, demand trends in end-user industries like dyes, rubber, and pharmaceuticals, as well as potential disruptions due to geopolitical events or environmental regulations, can also provide early warnings of price volatility. Engaging in long-term contracts or securing bulk purchase deals during periods of stable pricing can help mitigate risks.

What is the best strategy for procurement heads to secure competitive Nitrobenzene pricing? +

To secure competitive Nitrobenzene pricing, procurement heads should consider diversifying suppliers, establishing long-term relationships with reliable producers, and negotiating bulk purchase agreements during periods of lower market demand. Additionally, staying informed about market trends, understanding regional price variations, and leveraging advanced forecasting tools to predict price movements can help procurement teams lock in favourable prices. Using real-time price assessment platforms like can also aid in making data-driven purchasing decisions.