DUBLIN--(BUSINESS WIRE)--The "Global Benzenecarboxylic Acid Market - Segmented by Production Process, Application and Geography - Growth, Trends and Forecast (2018-2023)" report has been added to ResearchAndMarkets.com's offering.
The benzenecarboxylic acid market is expected to register a CAGR of 3.6% during the forecast period 2018-2023.
The major market driver is the continuous demand for benzoate plasticizers. Almost 90% of the plasticizers are used in the production of PVC. Phthalate plasticizers are being widely used and are often criticized for their slightly toxic content.
Benzoic acid and its salt derivatives are used as preservatives in the food & beverage sector. It helps to improve and increase the storage stability when used in emulsion formulations, liquid detergents, paints, polishes, and waxes. The growing demand for preservatives to improve the shelf life of the products, coupled with the growth in the food & beverages industry, is likely to drive the benzoic acid market during the forecast period.
Asia-Pacific is the most promising market for benzoic acid, accounting for 50% of the global demand, and is anticipated to dominate the market in the near future owing to the vast demand for plasticizers. China and Japan, followed by India, are expected to be the biggest consumers of benzoic acid in Asia-Pacific.
- Hebei Smart Chemicals Co.Ltd.
- Emerald Performance Materials
- Chemcrux Enterprise Limited
- Velsicol Chemical LLC
- Apollo Scientific
- Huangshi Taihua Industry SAn Fu Chemical Co. Ltd.
- Sinteza S.A
- Ganesh Benzoplast Limited
Key Topics Covered:
2. Executive Summary
3. Market Insights
4. Market Dynamics
5. Market Segmentation and Analysis
6. Regional Market Analysis
7. Competitive Landscape
8. Company Profiles
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