In October 2024, industrial-grade benzyl alcohol was priced at 1610 USD/MT, marking a steep 20% YoY decrease from the 2020 USD/MT recorded in October 2023. The trend persisted through November, when prices dropped from 1850 USD/MT in 2023 to 1590 USD/MT in 2024, reflecting a 14% YoY decline. By December, the downward pressure continued as prices fell to 1520 USD/MT, significantly lower than the 1880 USD/MT seen during the same period in 2023, representing a 19% YoY fall.

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The persistent year-over-year decline observed in 2024 was largely shaped by weakened costs of toluene—an essential feedstock in benzyl alcohol synthesis. With crude oil showing volatility and petrochemical markets struggling with oversupply, input costs remained soft throughout the quarter. This directly contributed to reduced production costs for benzyl alcohol manufacturers, enabling lower ex-works pricing.

In addition, muted demand from some industrial sectors, particularly coatings, flavors & fragrances, and solvent applications, further weighed on overall price stability. However, the pharmaceutical and personal care industries continued to exhibit resilience, though not strong enough to offset broader market softness.

Supply chain conditions also played a critical role. Stable operating rates among Chinese producers ensured adequate product availability, preventing upward price movement even as certain global markets experienced logistical delays and transportation constraints. With inventories remaining comfortable, sellers had limited leverage to maintain price levels amid moderating consumption.

Looking forward, Expert Market Research predicts that benzyl alcohol prices are expected to rise moderately in 2025. Increased demand from pharmaceuticals, cosmetics, and specialty chemicals is anticipated to support this upward trajectory. Additionally, fluctuations in raw material costs and potential adjustments in crude oil benchmarks may add volatility, influencing production expenses and pricing trends.

Moreover, supply chain complexities—ranging from container imbalances to geopolitical uncertainties—may contribute to temporary tightening, providing further price support. As downstream industries recover and global demand patterns normalize, benzyl alcohol may experience more balanced pricing conditions.

While 2024 witnessed substantial year-on-year declines in Benzyl Alcohol Prices, the outlook for 2025 signals a shift toward moderate recovery, driven by strengthening demand and evolving feedstock market dynamics.