This Benzoic Acid market study offers a comprehensive analysis of the business models, key strategies, and respective market shares of some of the most prominent players in this landscape. Along with an in-depth commentary on the key influencing factors, market statistics in terms of revenues, segment-wise data, region-wise data, and country-wise data are offered in the full study. This study is one of the most comprehensive documentation that captures all the facets of the evolving Benzoic Acid market.
Benzoic acid is a crystalline and colorless aromatic carboxylic acid with chemical formula C6H5COOH. Initially, Benzoic acid was obtained from resin of trees belonging to the Styrax genus, also known as gum benzoin. Benzoic acid is widely used as a preservative to inhibit the growth of bacteria and fungi in the food and beverages industry. This odorless chemical is also used as a chemical reagent.
Benzoic acid and its salts used as preservatives are represented by E- numbers, E210, E211, E212, and E213. Benzoates are salts and esters of Benzoic acid. Benzoic acid when used as a preservative is added with a concentration of 0.05-0.1% to the food products. The rising demands for packaged food and beverages fuel the demand for Benzoic acid market growth globally. Benzoic acid and benzoate are used to preserve acidified food products such as fruit juice, pickles (vinegar), sparkling drinks, etc. as the efficacy of both of them depends on the pH of food.Benzoic acid is also used in chemical, pharmaceutical, plastics, and in other industries. It is used for the production of Benzoate Plasticizer, Benzoyl Chloride, and Alkyd Resins. The application of Benzoic acid can also be traced in medical, dye intermediates, and for animal feed. Benzoic acid is used as a constituent for the treatment of fungal skin diseases such as ringworm, athlete’s foot, tinea, etc.
Benzoic acid is a common constituent in toothpastes, mouthwashes, deodorants, etc. in which it acts as an anti-microbial agent. The strong demand for the benzoate plasticizers also gives a positive outlook in the global expansion of its market.
Benzoic acid is soluble in water. This property of Benzoic acid makes it possible to purify it by recrystallization from hot water and cold water, since it is more soluble in hot water and less soluble in cold water. Benzoic acid is readily available in the market in a relatively cheaper price and hence it can be easily used by students, researchers as well as scientists.
Benzoic Acid: Market Dynamics
Increasing demand of packaged food and beverages drive the demand for Benzoic acid market across the world. Food preservation is necessary to increase the shelf life of the packaged food products which drives the growth of Benzoic acid market. Increasing demand for the replacement of phthalate plasticizers by benzoate plasticizers for different applications is likely to drive the demand for Benzoic acid market.
Rising population, higher income, and changing psychographics of Asian countries drive the growth of Benzoic acid market in the region. The consumption of Benzoic acid allows the market to remain relatively higher in the Asia-Pacific region, which will boost the advancement of this market. Rising demand for sodium and potassium benzoate also has been supporting the growth of Benzoic acid market. Per capita plastic consumption is following a higher rate in countries like India and China, which will enhance the demand for plasticizers and ultimately drive the market growth for Benzoic acid. Strict regulations in developed countries may limit the growth of alkyd resin and ultimately the Benzoic acid market. Benzoic acid is not dangerous when used in lower concentration. However, it can harm lungs and digestive tract after prolonged usage and exposure to the substance. Like any other chemicals, Benzoic acid also has some toxic properties which stagnates the growth of the market.
Benzoic Acid Market Participants
Examples of some of the market participants identified in global Benzoic acid market are: Emerald Kalama, Novaphene, HuangshiTaihua Industry, Shri Hari Chemicals, Sinteza S.A., Chemcrux Enterprises Ltd, Wuhan Youji Industries, Fushimi, San Fu, Huayin Jinqiancheng, and Nantong Haiers, among the others.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
The report covers exhaust analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
Regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico. Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Middle East and Africa (GCC Countries, S. Africa, Northern Africa)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Benzoic Acid: Market Segmentation
The global Benzoic acid market is classified on the basis of production methods and applications as following,
On the basis of production method, Benzoic acid market can be segmented as:
- Grignard reagents
- Friedel-Crafts reaction
On the basis of application, Benzoic acid market can be segmented as:
- Food and Beverage
- Benzoate Production ( Potassium and Sodium benzoates)
- Benzoyl Chloride
- Alkyd Resins
- Animal Feed
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
Frequently Asked Questions
What research methodology is used to develop the Benzoic Acid Market report?
- FMI utilizes three branched methods to derive market measurements used to compile any report study (data derivation, triangulation and validation).
- These approaches include accumulating data from both primary and secondary sources
- Primary research involves interviews with industry operators and FMI's network of contacts spanning the world's value chain of the Benzoic Acid Market. This is supported by a comprehensive literature analysis of information gathered through secondary sources
- Analysis of several middle market stakeholders for country-wise data
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How do you define competitors based on market structure? What aspects about a competitor are included in the company profile section?
- Most of the competitors are segregated according to their market share in 'Tier' wise statures.
- Global market participants are scrutinized and global competition metrics are included with numerous competitor profiles referring to their business background and go-to market strategies.