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[ 英語タイトル ] Benzoic Acid Market by Application (Benzoates, Benzoate Plasticizers, Alkyd Resins, Benzoyl Chloride, Animal Feed Additive), End-Use Industry (Food & Beverages, Chemical, Pharmaceutical), and Region - Global Forecast to 2023


Product Code : MNMCH00109675
Survey : MarketsandMarkets
Publish On : February, 2021
Category : Chemicals and Advanced Materials
Study Area : Global
Report format : PDF
Sales price option (consumption tax not included)
Single User USD5650 / Question Form
5 User USD6650 / Question Form
Enterprise User USD10000 / Question Form

[Report Description]

“The benzoic acid market is projected to grow at a CAGR of 5.4% from 2018 to 2023”

The benzoic acid market is projected to grow from USD 1,009.9 million in 2018 to USD 1,313.5 million by 2023, at a CAGR of 5.4% from 2018 to 2023. The growth of the non-phthalate plasticizers manufacturing industry is led by the flourishing building & construction industry globally with increasing use of non-phthalate plasticizers in flooring & wall coverings application. Benzoic acid and its benzoates are used as preservatives in various food products. The rising demand for packaged food items & beverages lead to the increased consumption of benzoic acid in the food & beverages industry.
“The benzoate plasticizers segment is expected to be the fastest-growing application segment of the benzoic acid market during the forecast period.”
Benzoic acid is used in several chemical industry applications, such as manufacturing benzoyl chloride, benzoate plasticizers, and alkyd resins, among others. The benzoate plasticizers application segment is expected to grow at the highest rate due to the growing demand for non-phthalate plasticizers in emerging economies such as Iran and Saudi Arabia.
“Asia Pacific is expected to account for the largest share of the benzoic acid market during the forecast period.”
China is the largest market for benzoic acid in the Asia Pacific region, in terms of value. Growing industrialization and changing lifestyle of masses in the region have led to the increased demand for processed and packaged food items & beverages. This offers enormous growth opportunities for the manufacturers of benzoic acid as benzoic acid, and its derivatives are used as food preservatives in packaged food items & beverages.


Profile break-up of primary participants for the report:
• By Company Type: Tier 1 – 20 %, Tier 2 – 45%, Tier 3 – 35%
• By Designation: C level – 25%, Director level – 30%, Others – 45%
• By Region: Asia Pacific – 53%, North America – 25%, Europe – 17%, Middle East & Africa – 3%, South America – 2%

As a part of qualitative analysis, the research provides a comprehensive review of the major market drivers, restraints, and opportunities. It also discusses competitive strategies adopted by market players, such as Emerald Performance Materials (US), Wuhan Youji Industries Co. (China), Tianjin Dongda Chemical Group (China), and Liao Ning Huayi Chemical Industry & Commerce Co. (China).
Research Coverage:

The report defines, segments, and projects the benzoic acid market based on end-use industry, application, and region. It provides detailed information regarding the major factors influencing the growth of the market, such as drivers and opportunities. It also strategically profiles key players and comprehensively analyzes their market shares and core competencies. The report analyzes competitive developments, such as partnerships, contracts, and joint ventures; mergers & acquisitions; expansions; new product launches; and research & development activities are undertaken by key players to achieve growth in the market.

Reasons to Buy the Report:
The report will help market leaders/new entrants in this market by providing them the closest approximations of revenue numbers for the overall benzoic acid market and its subsegments. This report will help stakeholders better understand the competitive landscape and gain insights to better position their businesses and make suitable go-to-market strategies. The report will also help stakeholders understand the pulse of the market and provide information on key market drivers, restraints, and opportunities.

TABLE OF CONTENTS

1 INTRODUCTION 15
1.1 OBJECTIVES OF THE STUDY 15
1.2 MARKET DEFINITION 15
1.3 SCOPE OF THE STUDY 16
1.3.1 REGIONAL SCOPE 16
1.3.2 YEARS CONSIDERED FOR THE STUDY 17
1.4 CURRENCY 17
1.5 LIMITATION 17
1.6 STAKEHOLDERS 17
2 RESEARCH METHODOLOGY 18
2.1 RESEARCH DATA 18
2.1.1 SECONDARY DATA 19
2.1.1.1 Key data from secondary sources 19
2.1.2 PRIMARY DATA 20
2.1.2.1 Key data from primary sources 20
2.1.2.2 Key industry insights 21
2.1.2.3 Breakdown of primary interviews 21
2.2 MARKET SIZE ESTIMATION 22
2.2.1 BOTTOM-UP APPROACH 22
2.2.2 TOP-DOWN APPROACH 23
2.3 DATA TRIANGULATION 24
2.4 ASSUMPTIONS 25
3 EXECUTIVE SUMMARY 26
3.1 BENZOIC ACID MARKET, BY END-USE INDUSTRY 27
3.2 BENZOIC ACID MARKET, BY APPLICATION 28
3.3 BENZOIC ACID MARKET, BY REGION 29
4 PREMIUM INSIGHTS 30
4.1 SIGNIFICANT GROWTH OPPORTUNITIES IN THE BENZOIC ACID MARKET 30
4.2 BENZOIC ACID MARKET, BY REGION 30
4.3 ASIA PACIFIC BENZOIC ACID MARKET, BY COUNTRY AND APPLICATION 31
4.4 BENZOIC ACID MARKET, BY APPLICATION AND REGION 32
4.5 BENZOIC ACID MARKET, BY COUNTRY 32

5 MARKET OVERVIEW 33
5.1 INTRODUCTION 33
5.2 MARKET DYNAMICS 33
5.2.1 DRIVERS 34
5.2.1.1 Rising demand for benzoic acid from the food & beverages industry 34
5.2.1.2 Ongoing urbanization and shift in the consumer lifestyle,
particularly in the Asia Pacific region 34
5.2.1.3 Increasing demand for processed food items & beverages 35
5.2.2 RESTRAINTS 35
5.2.2.1 Regulations to limit the use of benzoic acid in packaged food
items & beverages 35
5.2.2.2 Prolonged use of benzoic acid can cause harm to lungs and
digestive tract 35
5.2.3 OPPORTUNITIES 35
5.2.3.1 Replacement of phthalate plasticizers with non-phthalate plasticizers in the European and North American regions 35
5.2.4 CHALLENGES 36
5.2.4.1 Limited use of benzoic acid as a food preservative in developed economies 36
5.2.4.2 Fluctuating prices of Toluene 36
5.3 PORTER’S FIVE FORCES ANALYSIS 36
5.3.1 THREAT OF NEW ENTRANTS 37
5.3.2 BARGAINING POWER OF SUPPLIERS 37
5.3.3 THREAT OF SUBSTITUTES 37
5.3.4 BARGAINING POWER OF BUYERS 38
5.3.5 INTENSITY OF COMPETITIVE RIVALRY 38
5.4 MACROECONOMIC INDICATORS 39
5.4.1 FOOD PRESERVATIVES MARKET 39
5.4.2 NON-PHTHALATE PLASTICIZERS MARKET 39
5.5 DERIVATIVES 40
5.5.1 SODIUM BENZOATE 40
5.5.2 POTASSIUM BENZOATE 40
5.5.3 BENZYL CHLORIDE 40
5.5.4 BENZYL BENZOATE 41
6 BENZOIC ACID MARKET, BY APPLICATION 42
6.1 INTRODUCTION 43
6.2 BENZOATES 44
6.3 BENZOATE PLASTICIZERS 45
6.4 ALKYD RESINS 46
6.5 BENZOYL CHLORIDE 47
6.6 ANIMAL FEED ADDITIVE 48
6.7 OTHERS 49
7 BENZOIC ACID MARKET, BY END-USE INDUSTRY 50
7.1 INTRODUCTION 51
7.2 FOOD & BEVERAGES 52
7.3 CHEMICAL 53
7.4 PHARMACEUTICAL 54
7.5 OTHERS 56
8 BENZOIC ACID MARKET, BY REGION 57
8.1 INTRODUCTION 58
8.2 ASIA PACIFIC 61
8.2.1 CHINA 65
8.2.2 JAPAN 66
8.2.3 INDIA 67
8.2.4 SOUTH KOREA 68
8.2.5 SINGAPORE 69
8.2.6 MALAYSIA 70
8.2.7 AUSTRALIA 71
8.2.8 REST OF ASIA PACIFIC 72
8.3 EUROPE 74
8.3.1 GERMANY 78
8.3.2 THE NETHERLANDS 79
8.3.3 FRANCE 80
8.3.4 UK 81
8.3.5 ITALY 82
8.3.6 RUSSIA 83
8.3.7 SPAIN 84
8.3.8 REST OF EUROPE 85
8.4 NORTH AMERICA 87
8.4.1 US 91
8.4.2 CANADA 92
8.4.3 MEXICO 93
8.5 MIDDLE EAST & AFRICA 94
8.5.1 SAUDI ARABIA 97
8.5.2 IRAN 98
8.5.3 REST OF THE MIDDLE EAST & AFRICA 99
8.6 SOUTH AMERICA 100
8.6.1 BRAZIL 103
8.6.2 ARGENTINA 104
8.6.3 REST OF SOUTH AMERICA 105

9 COMPETITIVE LANDSCAPE 106
9.1 OVERVIEW 106
9.2 MARKET SHARE ANALYSIS 108
9.3 COMPETITIVE SITUATIONS & TRENDS 109
9.3.1 EXPANSIONS 109
9.3.2 AGREEMENTS 110
10 COMPANY PROFILES 111
Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View
10.1 ARIHA CHEMICALS 111
10.2 EMERALD PERFORMANCE MATERIALS 112
10.3 GANESH BENZOPLAST 114
10.4 HEMADRI CHEMICALS 115
10.5 IG PETROCHEMICALS 116
10.6 KRISHNA CHEMICALS 117
10.7 NAVYUG PHARMACHEM 118
10.8 NIMBASIA 119
10.9 PREMIER GROUP OF INDUSTRIES 120
10.10 RELIANCE INDUSTRIES 121
10.11 TIANJIN DONGDA CHEMICAL GROUP 123
10.12 WUHAN YOUJI INDUSTRIES CO. 124
10.13 OTHER LEADING PLAYERS 126
10.13.1 AVANTOR PERFORMANCE MATERIALS 126
10.13.2 CHOICE ORGANOCHEM 126
10.13.3 EASTMAN CHEMICAL COMPANY 126
10.13.4 FUSHIMI PHARMACEUTICAL CO. 126
10.13.5 INDIAN OIL CORPORATION 126
10.13.6 LIAO NING HUAYI CHEMICAL INDUSTRY & COMMERCE CO. 126
10.13.7 PAT IMPEX 127
10.13.8 PRIMECHEM ENTERPRISES 127
10.13.9 SAN FU CHEMICAL GROUP CO. 127
10.13.10 SINTEZA 127
10.13.11 SMART CHEMICALS GROUP CO. 127
10.13.12 SWASTIK INDUSTRIES 127
10.13.13 TRIVENI INTERCHEM 127
10.13.14 THE CHEMICAL COMPANY 128
10.13.15 VELSICOL CHEMICAL 128
10.13.16 JQC (HUAYIN) PHARMACEUTICAL CO. 128
*Details might not be captured in case of unlisted companies.

11 APPENDIX 129
11.1 DISCUSSION GUIDE 129
11.2 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 133
11.3 INTRODUCING RT: REAL-TIME MARKET INTELLIGENCE 135
11.4 AVAILABLE CUSTOMIZATIONS 136
11.5 RELATED REPORTS 136
11.6 AUTHOR DETAILS 137

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