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Nitrobenzene Price Trend and Forecast

⟳ Weekly Update
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Historical Data Since 2015
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Forecast for 2026
  • Commodity Pricing

nitrobenzene Markets Covered:

inIndia
sgSingapore
krKorea
usUnited States

Global nitrobenzene Price Trend, Analysis and Forecast​

In Q1 2025, the Technical Grade (>99%) Nitrobenzene, FOB Busan, market in South Korea showed a slight price decrease, reported at USD 971/MT, marking a decline of -1.42%. This was mainly due to slower demand from core industries like automotive, agriculture, and chemicals, which utilize Nitrobenzene in the production of aniline and other derivatives. The early part of the year witnessed subdued industrial activity, contributing to the softening of prices. Furthermore, an oversupply situation emerged due to abundant production by local manufacturers, which added further downward pressure on the market. 

NitrobenzeneTrend Analysis: Q2 2025

In Q1 2025, the Technical Grade (>99%) Nitrobenzene, FOB Busan, market in South Korea showed a slight price decrease, reported at USD 971/MT, marking a decline of -1.42%. This was mainly due to slower demand from core industries like automotive, agriculture, and chemicals, which utilize Nitrobenzene in the production of aniline and other derivatives. The early part of the year witnessed subdued industrial activity, contributing to the softening of prices. Furthermore, an oversupply situation emerged due to abundant production by local manufacturers, which added further downward pressure on the market. 

In Q1 2025, the Technical Grade (>99%) Nitrobenzene, Ex-Mumbai, market in India further stabilized, with prices recorded at USD 1060.60/MT, showing a 10.10% softening from Q4 2024. The slower start to the year, combined with reduced international demand for Indian dyes and intermediates, led to cautious procurement by manufacturers. The downstream agrochemical sector also experienced a seasonal lull. Despite stable Benzene availability and low freight pressures, tepid end-user demand and high inventories led to limited upward movement in prices, keeping the market relatively balanced. 

Nitrobenzene Trend Analysis: Q4 2024

In Q4 2024, prices of Technical Grade (>99%) Nitrobenzene, FOB Busan, in South Korea were reported at USD 985/MT, showing a slight decrease of -2.48% from Q3 2024. This decline was attributed to a mix of factors. While demand from key sectors like automotive and agriculture remained steady, it did not meet the growth expectations for the fourth quarter. Moreover, a stable and ample supply of Nitrobenzene helped ease price pressures. Despite consistent demand from industries such as agrochemicals, the market lacked the momentum to sustain the previous quarter’s gains, leading to a marginal drop in prices. 

In Q4 2024, Technical Grade (>99%) Nitrobenzene, Ex-Mumbai, prices in India saw a more notable correction, averaging USD 1179.76/MT, reflecting a 10.36% decline from Q3. This drop was attributed to subdued market sentiment post-monsoon, along with abundant supply in the western region, especially around the Mumbai industrial belt. Producers ramped up operations in anticipation of festive demand, but actual offtake from downstream sectors remained moderate. Additionally, weakening global crude oil prices and reduced input costs supported lower pricing trends in the domestic market. 

In Q3 2024, prices of Technical Grade (>99%) Nitrobenzene, FOB Busan, in South Korea continued to rise, reaching USD 1,010/MT, showing an upward trend of 2.33% from Q2 2024. This increase was largely due to stronger demand from the automotive and chemical industries, where Nitrobenzene serves as an essential precursor for aniline. The heightened demand for aniline to produce polyurethane foams, dyes, and other chemical products supported this upward movement. Additionally, price fluctuations in the global chemical market prompted manufacturers to adjust production rates, further influencing the price increase during the quarter. 

By Q3 2024, the Technical Grade (>99%) Nitrobenzene, Ex-Mumbai, market showed a slight decrease, with prices dipping to USD 1316.05/MT, down 1.20% from Q2. The onset of the monsoon season across India brought a temporary slowdown in industrial and construction activities, including reduced demand for paints, coatings, and related chemicals. Domestic consumption of Aniline also eased slightly, impacting upstream Nitrobenzene purchases. While raw material Benzene prices remained steady, increased local availability and improved production rates kept supply levels healthy, balancing out the market. 

In Q2 2024, Technical Grade (>99%) Nitrobenzene, FOB Busan, prices in South Korea showed a slight recovery, reaching USD 987.333/MT, reflecting a 1.29% increase from Q1. This rebound was mainly driven by renewed demand from the construction and automotive sectors, as the global economy began to show 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 began 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 Q2 2024, Technical Grade (>99%) Nitrobenzene, Ex-Mumbai, prices in India continued a slightly positive path, averaging USD 1331.99/MT, a 0.64% increase from Q1. The market was supported by continued downstream demand from agrochemical manufacturers preparing for the upcoming Kharif season. Moreover, better availability of raw materials and steady port-side inventories in Mumbai helped stabilize the supply chain. Export activity from India remained consistent, particularly for downstream products like dyes and intermediates, which helped keep the domestic demand for Nitrobenzene buoyant despite minor fluctuations in input costs. 

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 for Technical Grade (>99%) Nitrobenzene, FOB Busan, were reported at USD 974.8/MT, reflecting a -9.75% decline from the previous quarter. This drop was mainly due to sluggish demand from 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. Additionally, a slight easing in crude oil prices led to lower raw material costs, further pulling down prices in Q1. Global factors like reduced industrial activity and improved supply chain efficiency also contributed to the market’s overall stability. 

In Q1 2024, the Technical Grade (>99%) Nitrobenzene, Ex-Mumbai, market in India witnessed a firm upward movement, with average prices reaching around USD 1323.52/MT, marking a 9.01% increase from the previous quarter. The spike was largely driven by rising demand from the agrochemical sector, particularly in the production of Aniline, a key intermediate for herbicides and dyes. The start of the Rabi cropping season further supported consumption. Additionally, limited domestic production due to maintenance shutdowns and slightly higher feedstock Benzene prices contributed to tighter supply. Festive-related industrial activities also supported the demand for paints and dyes, indirectly lifting Nitrobenzene consumption. 

nitrobenzene Parameters Covered: 

  • Benzene
  • Nitric Acid
  • Sulfuric Acid
  • South Korea 
  • Aniline (MDI (Methylene Diphenyl Diisocyanate), Dyes and pigments, pharmaceutical intermediates)
  • Agrochemicals (Herbicides and pesticides)
  • Dye & Textile Industry
  • Pharmaceuticals
  • India
  • Singapore
  • USA

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. 
  • 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. 
  • 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. 
  • 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.

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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. 
  • 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. 
  • 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. 
  • 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.

Why PriceWatch?

PriceWatch 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, PriceWatch keeps you fully informed of market dynamics.

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

Track PriceWatch'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.

Data Collection and Sources​

  • Real-Time Market Data: PriceWatch 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: PriceWatch 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: PriceWatch 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: PriceWatch 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 PriceWatch delivers the most accurate, timely, and actionable nitrobenzene pricing assessments, helping our clients stay ahead of market trends and make informed business decisions. 

Nitrobenzene price provided by PriceWatch 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. PriceWatch 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.

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.

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.

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 PriceWatch can also aid in making data-driven purchasing decisions.

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