Global Benzoic Acid Market, By Application (Sodium Benzoate, Potassium Benzoate, Benzyl Benzoate, Benzoate Plasticizer, Alkyd Resin, Benzoyl Chloride, Feed Additive and Others), End Use (Food and Beverages, Chemical Industry, Pharmaceutical Industry and Others), and Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of the Middle East and Africa) Industry Trends and Forecast to 2028.
Market Analysis and Insights : Global Benzoic Acid Market
The benzoic acid market is expected to witness market growth at a rate of 5.3% in the forecast period of 2021 to 2028. Data Bridge Market Research report on the benzoic acid market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while impacting the market’s growth. The rise in the aviation sector is escalating the growth of benzoic acid market.
Benzoic acid is known to be a carboxylic acid with several utilitarian qualities, comprising antibacterial and antifungal qualities, which have made it widespread in several end-use applications. Benzoic acid is commonly found in various fruits, involving prunes, plums, raspberries and cranberries, and is mainly utilized in the chemical, food and beverage and pharmaceutical sectors.
Major factors that are expected to boost the growth of the benzoic acid market in the forecast period are the rise in the need for benzoic acid from the food and beverages industry. Furthermore, the constant urbanization and the change in the user lifestyle is further anticipated to propel the growth of the benzoic acid market. Moreover, the growing need for processed food items and beverages is further estimated to cushion the growth of the benzoic acid market. On the other hand, the regulations to restrict the utilization of benzoic acid in packaged food items and beverages is further projected to impede the growth of the benzoic acid market in the timeline period.
In addition, the substitution phthalate plasticizers with non-phthalate plasticizers will further provide potential opportunities for the growth of the benzoic acid market in the coming years. However, the restricted utilization of benzoic acid as a food preservative in developed economies which might further challenge the growth of the benzoic acid market in the coming years.
This benzoic acid market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on the benzoic acid market, contact Data Bridge Market Research for an Analyst Brief. Our team will help you take an informed market decision to achieve market growth.
Global Benzoic Acid Market Scope and Market Size
The benzoic acid market is segmented on the basis of application and end use. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.
- On the basis of application, the benzoic acid market is segmented into sodium benzoate, potassium benzoate, benzyl benzoate, benzoate plasticizer, alkyd resin, benzoyl chloride, feed additive and others.
- On the basis of end use, the benzoic acid market is segmented into food and beverages, chemical industry, pharmaceutical industry and others.
Benzoic Acid Market Country Level Analysis
The benzoic acid market is analysed, and market size, volume information is provided by country, application and end use as referenced above.
The countries covered in the benzoic acid market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (M.E.A.) as a part of Middle East and Africa (M.E.A.), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific dominates the benzoic acid market due to the increase in the consumption of benzoic acid. Furthermore, the growing in the in per-capita disposable income will further boost the growth of the benzoic acid market in the region during the forecast period. North America is projected to observe significant amount of growth in the benzoic acid market due to the replacement of benzoate plasticizers for phthalate plasticizers due to stringent government regulations. Moreover, the rise in the need for phthalate plasticizers is further anticipated to propel the growth of the benzoic acid market in the region in the coming years.
The country section of the report also provides individual market impacting factors and changes regulation in the market domestically that impact the current and future trends of the market. Data points such as consumption volumes, production sites, and volumes, import-export analysis, price trend analysis, cost of raw materials, downstream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Benzoic Acid Market Share Analysis
The benzoic acid market competitive landscape provides details by a competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to the benzoic acid market.
The major players covered in the benzoic acid market report are Emerald Performance Materials, Novaphene Specialities Private Limited, HuangshiTaihua Industry, Shri Hari Chemicals, Sinteza S.A, Chemcrux Enterprises Ltd, Wuhan YouJi Industries Company Limited, FUSHIMI Pharmaceutical Co., Ltd., San Fu Chemical Co., Ltd., Shanghai Danfan Network Science&Technology Co., Ltd., DOW, DuPont, Apollo Scientific Ltd, Clarion Drugs Ltd, Ganesh Benzoplast Limited and Dongda among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (M.E.A.), and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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