DUBLIN--(BUSINESS WIRE)--The "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" report has been added to ResearchAndMarkets.com's offering.
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.
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.
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.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Benzoic Acid Market, By Application
7 Benzoic Acid Market, By End-Use Industry
8 Benzoic Acid Market, By Region
9 Competitive Landscape
10 Company Profiles
- Ariha Chemicals
- Emerald Performance Materials
- Ganesh Benzoplast
- Hemadri Chemicals
- IG Petrochemicals
- Krishna Chemicals
- Navyug Pharmachem
- Premier Group of Industries
- Reliance Industries
- Tianjin Dongda Chemical Group
- Wuhan Youji Industries Co.
- Avantor Performance Materials
- Choice Organochem
- Eastman Chemical Company
- Fushimi Pharmaceutical Co.
- Indian Oil Corporation
- Liao Ning Huayi Chemical Industry & Commerce Co.
- PAT Impex
- Primechem Enterprises
- SAN FU Chemical Group Co.
- Smart Chemicals Group Co.
- Swastik Industries
- Triveni Interchem
- the Chemical Company
- Velsicol Chemical
- JQC (Huayin) Pharmaceutical Co.
For more information about this report visit https://www.researchandmarkets.com/research/nf8gxp/benzoic_acid?w=4