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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

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

“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.


  • INTRODUCTION
    • OBJECTIVES OF THE STUDY
    • MARKET DEFINITION
    • SCOPE OF THE STUDY
      • REGIONAL SCOPE
      • YEARS CONSIDERED FOR THE STUDY
    • CURRENCY
    • LIMITATION
    • STAKEHOLDERS
  • RESEARCH METHODOLOGY
    • RESEARCH DATA
      • SECONDARY DATA
      • PRIMARY DATA
    • MARKET SIZE ESTIMATION
      • BOTTOM-UP APPROACH
      • TOP-DOWN APPROACH
    • DATA TRIANGULATION
    • ASSUMPTIONS
  • EXECUTIVE SUMMARY
    • BENZOIC ACID MARKET, BY END-USE INDUSTRY
    • BENZOIC ACID MARKET, BY APPLICATION
    • BENZOIC ACID MARKET, BY REGION
  • PREMIUM INSIGHTS
    • SIGNIFICANT GROWTH OPPORTUNITIES IN THE BENZOIC ACID MARKET
    • BENZOIC ACID MARKET, BY REGION
    • ASIA PACIFIC BENZOIC ACID MARKET, BY COUNTRY AND APPLICATION
    • BENZOIC ACID MARKET, BY APPLICATION AND REGION
    • BENZOIC ACID MARKET, BY COUNTRY
  • MARKET OVERVIEW
    • INTRODUCTION
    • MARKET DYNAMICS
      • DRIVERS
      • RESTRAINTS
      • OPPORTUNITIES
      • CHALLENGES
    • PORTER'S FIVE FORCES ANALYSIS
      • THREAT OF NEW ENTRANTS
      • BARGAINING POWER OF SUPPLIERS
      • THREAT OF SUBSTITUTES
      • BARGAINING POWER OF BUYERS
      • INTENSITY OF COMPETITIVE RIVALRY
    • MACROECONOMIC INDICATORS
      • FOOD PRESERVATIVES MARKET
        • Table FOOD PRESERVATIVES MARKET, BY REGION, 2014-2021 (USD MILLION)
      • NON-PHTHALATE PLASTICIZERS MARKET
    • DERIVATIVES
      • SODIUM BENZOATE
      • POTASSIUM BENZOATE
      • BENZYL CHLORIDE
      • BENZYL BENZOATE
  • BENZOIC ACID MARKET, BY APPLICATION
    • INTRODUCTION
      • Table BENZOIC ACID MARKET, BY APPLICATION, 2016-2023 (USD MILLION)
      • Table BENZOIC ACID MARKET, BY APPLICATION, 2016-2023 (KILO TONS)
    • BENZOATES
      • Table BENZOIC ACID MARKET IN BENZOATES, BY REGION, 2016-2023 (USD MILLION)
      • Table BENZOIC ACID MARKET IN BENZOATES, BY REGION, 2016-2023 (KILO TONS)
    • BENZOATE PLASTICIZERS
      • Table BENZOIC ACID MARKET IN BENZOATE PLASTICIZERS, BY REGION, 2016-2023 (USD MILLION)
      • Table BENZOIC ACID MARKET IN BENZOATE PLASTICIZERS, BY REGION, 2016-2023 (KILO TONS)
    • ALKYD RESINS
      • Table BENZOIC ACID MARKET IN ALKYD RESINS, BY REGION, 2016-2023 (USD MILLION)
      • Table BENZOIC ACID MARKET IN ALKYD RESINS, BY REGION, 2016-2023 (KILO TONS)
    • BENZOYL CHLORIDE
      • Table BENZOIC ACID MARKET IN BENZOYL CHLORIDE, BY REGION, 2016-2023 (USD MILLION)
      • Table BENZOIC ACID MARKET IN BENZOYL CHLORIDE, BY REGION, 2016-2023 (KILO TONS)
    • ANIMAL FEED ADDITIVE
      • Table BENZOIC ACID MARKET IN ANIMAL FEED ADDITIVE, BY REGION, 2016-2023 (USD MILLION)
      • Table BENZOIC ACID MARKET IN ANIMAL FEED ADDITIVE, BY REGION, 2016-2023 (KILO TONS)
    • OTHERS
      • Table BENZOIC ACID MARKET IN OTHER APPLICATIONS, BY REGION, 2016-2023 (USD MILLION)
      • Table BENZOIC ACID MARKET IN OTHER APPLICATIONS, BY REGION, 2016-2023 (KILO TONS)
  • BENZOIC ACID MARKET, BY END-USE INDUSTRY
    • INTRODUCTION
      • Table BENZOIC ACID MARKET, BY END-USE INDUSTRY, 2016-2023 (USD MILLION)
      • Table BENZOIC ACID MARKET, BY END-USE INDUSTRY, 2016-2023 (KILO TONS)
    • FOOD & BEVERAGES
      • Table BENZOIC ACID MARKET FOR FOOD & BEVERAGES, BY REGION, 2016-2023 (USD MILLION)
      • Table BENZOIC ACID MARKET FOR FOOD & BEVERAGES, BY REGION, 2016-2023 (KILO TONS)
    • CHEMICAL
      • Table BENZOIC ACID MARKET FOR CHEMICAL, BY REGION, 2016-2023 (USD MILLION)
      • Table BENZOIC ACID MARKET FOR CHEMICAL, BY REGION, 2016-2023 (KILO TONS)
    • PHARMACEUTICAL
      • Table BENZOIC ACID MARKET FOR PHARMACEUTICAL, BY REGION, 2016-2023 (USD MILLION)
      • Table BENZOIC ACID MARKET FOR PHARMACEUTICAL, BY REGION, 2016-2023 (KILO TONS)
    • OTHERS
      • Table BENZOIC ACID MARKET FOR OTHER END-USE INDUSTRIES, BY REGION, 2016-2023 (USD MILLION)
      • Table BENZOIC ACID MARKET FOR OTHER END-USE INDUSTRIES, BY REGION, 2016-2023 (KILO TONS)
  • BENZOIC ACID MARKET, BY REGION
    • INTRODUCTION
      • Table BENZOIC ACID MARKET, BY REGION, 2016-2023 (USD MILLION)
      • Table BENZOIC ACID MARKET, BY REGION, 2016-2023 (KILO TONS)
      • Table BENZOIC ACID MARKET, BY END-USE INDUSTRY, 2016-2023 (USD MILLION)
      • Table BENZOIC ACID MARKET, BY END-USE INDUSTRY, 2016-2023 (KILO TONS)
      • Table BENZOIC ACID MARKET, BY APPLICATION, 2016-2023 (USD MILLION)
      • Table BENZOIC ACID MARKET, BY APPLICATION, 2016-2023 (KILO TONS)
    • ASIA PACIFIC
      • Table ASIA PACIFIC BENZOIC ACID MARKET, BY COUNTRY, 2016-2023 (USD MILLION)
      • Table ASIA PACIFIC BENZOIC ACID MARKET, BY COUNTRY, 2016-2023 (KILO TONS)
      • Table ASIA PACIFIC BENZOIC ACID MARKET, BY END-USE INDUSTRY, 2016-2023 (USD MILLION)
      • Table ASIA PACIFIC BENZOIC ACID MARKET, BY END-USE INDUSTRY, 2016-2023 (KILO TONS)
      • Table ASIA PACIFIC BENZOIC ACID MARKET, BY APPLICATION, 2016-2023 (USD MILLION)
      • Table ASIA PACIFIC BENZOIC ACID MARKET, BY APPLICATION, 2016-2023 (KILO TONS)
      • CHINA
        • Table CHINA BENZOIC ACID MARKET, BY APPLICATION, 2016-2023 (USD MILLION)
        • Table CHINA BENZOIC ACID MARKET, BY APPLICATION, 2016-2023 (KILO TONS)
      • JAPAN
        • Table JAPAN BENZOIC ACID MARKET, BY APPLICATION, 2016-2023 (USD MILLION)
        • Table JAPAN BENZOIC ACID MARKET, BY APPLICATION, 2016-2023 (KILO TONS)
      • INDIA
        • Table INDIA BENZOIC ACID MARKET, BY APPLICATION, 2016-2023 (USD MILLION)
        • Table INDIA BENZOIC ACID MARKET, BY APPLICATION, 2016-2023 (KILO TONS)
      • SOUTH KOREA
        • Table SOUTH KOREA BENZOIC ACID MARKET, BY APPLICATION, 2016-2023 (USD MILLION)
        • Table SOUTH KOREA BENZOIC ACID MARKET, BY APPLICATION, 2016-2023 (KILO TONS)
      • SINGAPORE
        • Table SINGAPORE BENZOIC ACID MARKET, BY APPLICATION, 2016-2023 (USD MILLION)
        • Table SINGAPORE BENZOIC ACID MARKET, BY APPLICATION, 2016-2023 (KILO TONS)
      • MALAYSIA
        • Table MALAYSIA BENZOIC ACID MARKET, BY APPLICATION, 2016-2023 (USD MILLION)
        • Table MALAYSIA BENZOIC ACID MARKET, BY APPLICATION, 2016-2023 (KILO TONS)
      • AUSTRALIA
        • Table AUSTRALIA BENZOIC ACID MARKET, BY APPLICATION, 2016-2023 (USD MILLION)
        • Table AUSTRALIA BENZOIC ACID MARKET, BY APPLICATION, 2016-2023 (KILO TONS)
      • REST OF ASIA PACIFIC
        • Table REST OF ASIA PACIFIC BENZOIC ACID MARKET, BY APPLICATION, 2016-2023 (USD MILLION)
        • Table REST OF ASIA PACIFIC BENZOIC ACID MARKET, BY APPLICATION, 2016-2023 (KILO TONS)
    • EUROPE
      • Table EUROPE BENZOIC ACID MARKET, BY COUNTRY, 2016-2023 (USD MILLION)
      • Table EUROPE BENZOIC ACID MARKET, BY COUNTRY, 2016-2023 (KILO TONS)
      • Table EUROPE BENZOIC ACID MARKET, BY APPLICATION, 2016-2023 (USD MILLION)
      • Table EUROPE BENZOIC ACID MARKET, BY APPLICATION, 2016-2023 (KILO TONS)
      • Table EUROPE BENZOIC ACID MARKET, BY END-USE INDUSTRY, 2016-2023 (USD MILLION)
      • Table EUROPE BENZOIC ACID MARKET, BY END-USE INDUSTRY, 2016-2023 (KILO TONS)
      • GERMANY
        • Table GERMANY BENZOIC ACID MARKET, BY APPLICATION, 2016-2023 (USD MILLION)
        • Table GERMANY BENZOIC ACID MARKET, BY APPLICATION, 2016-2023 (KILO TONS)
      • THE NETHERLANDS
        • Table NETHERLANDS BENZOIC ACID MARKET, BY APPLICATION, 2016-2023 (USD MILLION)
        • Table NETHERLANDS BENZOIC ACID MARKET, BY APPLICATION, 2016-2023 (KILO TONS)
      • FRANCE
        • Table FRANCE BENZOIC ACID MARKET, BY APPLICATION, 2016-2023 (USD MILLION)
        • Table FRANCE BENZOIC ACID MARKET, BY APPLICATION, 2016-2023 (KILO TONS)
      • UK
        • Table UK BENZOIC ACID MARKET, BY APPLICATION, 2016-2023 (USD MILLION)
        • Table UK BENZOIC ACID MARKET, BY APPLICATION, 2016-2023 (KILO TONS)
      • ITALY
        • Table ITALY BENZOIC ACID MARKET, BY APPLICATION, 2016-2023 (USD MILLION)
        • Table ITALY BENZOIC ACID MARKET, BY APPLICATION, 2016-2023 (KILO TONS)
      • RUSSIA
        • Table RUSSIA BENZOIC ACID MARKET, BY APPLICATION, 2016-2023 (USD MILLION)
        • Table RUSSIA BENZOIC ACID MARKET, BY APPLICATION, 2016-2023 (KILO TONS)
      • SPAIN
        • Table SPAIN BENZOIC ACID MARKET, BY APPLICATION, 2016-2023 (USD MILLION)
        • Table SPAIN BENZOIC ACID MARKET, BY APPLICATION, 2016-2023 (KILO TONS)
      • REST OF EUROPE
        • Table REST OF EUROPE BENZOIC ACID MARKET, BY APPLICATION, 2016-2023 (USD MILLION)
        • Table REST OF EUROPE BENZOIC ACID MARKET, BY APPLICATION, 2016-2023 (KILO TONS)
    • NORTH AMERICA
      • Table NORTH AMERICA BENZOIC ACID MARKET, BY COUNTRY, 2016-2023 (USD MILLION)
      • Table NORTH AMERICA BENZOIC ACID MARKET, BY COUNTRY, 2016-2023 (KILO TONS)
      • Table NORTH AMERICA BENZOIC ACID MARKET, BY END-USE INDUSTRY, 2016-2023 (USD MILLION)
      • Table NORTH AMERICA BENZOIC ACID MARKET, BY END-USE INDUSTRY, 2016-2023 (KILO TONS)
      • Table NORTH AMERICA BENZOIC ACID MARKET, BY APPLICATION, 2016-2023 (USD MILLION)
      • Table NORTH AMERICA BENZOIC ACID MARKET, BY APPLICATION, 2016-2023 (KILO TONS)
      • US
        • Table US BENZOIC ACID MARKET, BY APPLICATION, 2016-2023 (USD MILLION)
        • Table US BENZOIC ACID MARKET, BY APPLICATION, 2016-2023 (KILO TONS)
      • CANADA
        • Table CANADA BENZOIC ACID MARKET, BY APPLICATION, 2016-2023 (USD MILLION)
        • Table CANADA BENZOIC ACID MARKET, BY APPLICATION, 2016-2023 (KILO TONS)
      • MEXICO
        • Table MEXICO BENZOIC ACID MARKET, BY APPLICATION, 2016-2023 (USD MILLION)
        • Table MEXICO BENZOIC ACID MARKET, BY APPLICATION, 2016-2023 (KILO TONS)
    • MIDDLE EAST & AFRICA
      • Table MIDDLE EAST & AFRICA BENZOIC ACID MARKET, BY COUNTRY, 2016-2023 (USD MILLION)
      • Table MIDDLE EAST & AFRICA BENZOIC ACID MARKET, BY COUNTRY, 2016-2023 (KILO TONS)
      • Table MIDDLE EAST & AFRICA BENZOIC ACID MARKET, BY END-USE INDUSTRY, 2016-2023 (USD MILLION)
      • Table MIDDLE EAST & AFRICA BENZOIC ACID MARKET, BY END-USE INDUSTRY, 2016-2023 (KILO TONS)
      • Table MIDDLE EAST & AFRICA BENZOIC ACID MARKET, BY APPLICATION, 2016-2023 (USD MILLION)
      • Table MIDDLE EAST & AFRICA BENZOIC ACID MARKET, BY APPLICATION, 2016-2023 (KILO TONS)
      • SAUDI ARABIA
        • Table SAUDI ARABIA BENZOIC ACID MARKET, BY APPLICATION, 2016-2023 (USD MILLION)
        • Table SAUDI ARABIA BENZOIC ACID MARKET, BY APPLICATION, 2016-2023 (KILO TONS)
      • IRAN
        • Table IRAN BENZOIC ACID MARKET, BY APPLICATION, 2016-2023 (USD MILLION)
        • Table IRAN BENZOIC ACID MARKET, BY APPLICATION, 2016-2023 (KILO TONS)
      • REST OF THE MIDDLE EAST & AFRICA
        • Table REST OF THE MIDDLE EAST & AFRICA BENZOIC ACID MARKET, BY APPLICATION, 2016-2023 (USD MILLION)
        • Table REST OF THE MIDDLE EAST & AFRICA BENZOIC ACID MARKET, BY APPLICATION, 2016- 2023 (KILO TONS)
    • SOUTH AMERICA
      • Table SOUTH AMERICA BENZOIC ACID MARKET, BY COUNTRY, 2016-2023 (USD MILLION)
      • Table SOUTH AMERICA BENZOIC ACID MARKET, BY COUNTRY, 2016-2023 (KILO TONS)
      • Table SOUTH AMERICA BENZOIC ACID MARKET, BY END-USE INDUSTRY, 2016-2023 (USD MILLION)
      • Table SOUTH AMERICA BENZOIC ACID MARKET, BY END-USE INDUSTRY, 2016-2023 (KILO TONS)
      • Table SOUTH AMERICA BENZOIC ACID MARKET, BY APPLICATION, 2016-2023 (USD MILLION)
      • Table SOUTH AMERICA BENZOIC ACID MARKET, BY APPLICATION, 2016-2023 (KILO TONS)
      • BRAZIL
        • Table BRAZIL BENZOIC ACID MARKET, BY APPLICATION, 2016-2023 (USD MILLION)
        • Table BRAZIL BENZOIC ACID MARKET, BY APPLICATION, 2016-2023 (KILO TONS)
      • ARGENTINA
        • Table ARGENTINA BENZOIC ACID MARKET, BY APPLICATION, 2016-2023 (USD MILLION)
        • Table ARGENTINA BENZOIC ACID MARKET, BY APPLICATION, 2016-2023 (KILO TONS)
      • REST OF SOUTH AMERICA
        • Table REST OF SOUTH AMERICA BENZOIC ACID MARKET, BY APPLICATION, 2016-2023 (USD MILLION)
        • Table REST OF SOUTH AMERICA BENZOIC ACID MARKET, BY APPLICATION, 2016-2023 (KILO TONS)
  • COMPETITIVE LANDSCAPE
    • OVERVIEW
    • MARKET SHARE ANALYSIS
    • COMPETITIVE SITUATIONS & TRENDS
      • EXPANSIONS
        • Table EXPANSIONS, JANUARY 2013 TO JANUARY 2018
      • AGREEMENTS
        • Table AGREEMENTS, JANUARY 2013 TO JANUARY 2018
  • COMPANY PROFILES
    • ARIHA CHEMICALS
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
    • EMERALD PERFORMANCE MATERIALS
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
      • SWOT ANALYSIS
      • MNM VIEW
    • GANESH BENZOPLAST
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
    • HEMADRI CHEMICALS
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
    • IG PETROCHEMICALS
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
    • KRISHNA CHEMICALS
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
    • NAVYUG PHARMACHEM
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
      • MNM VIEW
    • NIMBASIA
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
    • PREMIER GROUP OF INDUSTRIES
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
    • RELIANCE INDUSTRIES
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • SWOT ANALYSIS
      • RECENT DEVELOPMENTS
      • MNM VIEW
    • TIANJIN DONGDA CHEMICAL GROUP
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
      • MNM VIEW
    • WUHAN YOUJI INDUSTRIES CO.
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • SWOT ANALYSIS
      • RECENT DEVELOPMENTS
      • MNM VIEW
    • OTHER LEADING PLAYERS
      • 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.
      • SINTEZA
      • SMART CHEMICALS GROUP CO.
      • SWASTIK INDUSTRIES
      • TRIVENI INTERCHEM
      • THE CHEMICAL COMPANY
      • VELSICOL CHEMICAL
      • JQC (HUAYIN) PHARMACEUTICAL CO.
  • APPENDIX
    • DISCUSSION GUIDE
    • KNOWLEDGE STORE: MARKETSANDMARKETS' SUBSCRIPTION PORTAL
    • INTRODUCING RT: REAL-TIME MARKET INTELLIGENCE
    • AVAILABLE CUSTOMIZATIONS
    • RELATED REPORTS
    • AUTHOR DETAILS

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