Global Benzoic Acid Market Size Study, by Application (Adhesives & Sealants, Polymer, Benzoates, Animal Feed Additive, Others), by End Use Industry (Food & Beverages, Paints & Coatings, Pharmaceuticals, Others), and Regional Forecasts 2022-2032

Description

The Global Benzoic Acid Market is valued at approximately USD 0.71 billion in 2023 and is poised to expand with a moderate growth rate of 3.26% from 2024 to 2032.Benzoic acid, an indispensable chemical compound, is widely recognized for its versatile applications across diverse industries, such as food & beverages, pharmaceuticals, and industrial manufacturing. The compound serves as a precursor for various derivatives, including benzoates, benzoyl chloride, and benzoate plasticizers, which are integral to numerous end-use products.

The market is driven by the escalating demand for benzoic acid in food preservation and as a key ingredient in pharmaceutical formulations. With an ever-increasing emphasis on food safety, benzoic acid's role as an antimicrobial agent in packaged food products has gained significant traction. Similarly, its application in producing plasticizers and polymers, such as polyurethane and vinyl, further amplifies its market demand. Innovations in sustainable production processes and the incorporation of advanced technologies in industrial applications bolster market growth. However, challenges such as stringent regulatory frameworks and fluctuating raw material costs may hinder the market expansion during the forecast period.

Regionally, Europe emerges as the frontrunner, underpinned by the region's robust chemical manufacturing infrastructure and stringent regulations mandating high-quality food and pharmaceutical standards. The increasing adoption of benzoic acid derivatives in adhesives, sealants, and polymer production further accelerates growth in this region. Meanwhile, the Asia Pacific region is projected to witness the fastest growth, driven by rapid industrialization, a burgeoning middle-class population, and rising consumption in sectors such as automotive, construction, and food & beverages. The North American market also shows steady growth potential, propelled by advancements in food safety technologies and the rising focus on sustainable industrial practices.

Key market players contributing to the industry include:

3D Systems Corporation
CollPlant Biotechnologies Ltd
Cyfuse Biomedical K.K
Desktop Metal, Inc.
Advanced Solutions, Inc.
Medprin Biotech GmbH
Organovo Holdings, Inc.
REGEMAT 3D S.L
Shining 3D
The Bio Convergence Company
BENEO GmbH
Arkema S.A.
BASF SE
Eastman Chemical Company
Emerald Performance Materials

The detailed segments and sub-segments of the market are explained below:

By Application

Adhesives & Sealants
Polymer
- Polyurethane
- Plastics
- Vinyl
- Rubber
Benzoates
Benzoate Plasticizers
Benzoyl Chloride
Animal Feed Additive
Others

By End Use Industry

Food & Beverages
Oil & Gas Industry
Paints & Coatings Industry
Automotive Industry
Pharmaceutical Industry
Others

By Region

North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
Rest of Europe
Asia Pacific
China
India
Japan
Australia
South Korea
Rest of Asia Pacific
Latin America
Brazil
Mexico
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Years considered for the study are as follows:

Historical Year: 2022
Base Year: 2023
Forecast Period: 2024 to 2032

Key Takeaways:

Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenue analysis for each market segment and region.
Detailed geographical insights with country-specific analysis for major regions.
In-depth competitive landscape analysis and key business strategy recommendations.
Comprehensive demand-side and supply-side market dynamics analysis.

Chapter 1. Global Benzoic Acid Market Executive Summary

1.1. Global Benzoic Acid Market Size & Forecast (2022-2032)
1.2. Regional Summary
1.3. Segmental Summary
- 1.3.1. By Application
- 1.3.2. By End Use Industry
1.4. Key Trends
1.5. Recession Impact
1.6. Analyst Recommendation & Conclusion

Chapter 2. Global Benzoic Acid Market Definition and Research Assumptions

2.1. Research Objective
2.2. Market Definition
2.3. Research Assumptions
- 2.3.1. Inclusion & Exclusion
- 2.3.2. Limitations
- 2.3.3. Supply Side Analysis
  - 2.3.3.1. Availability
  - 2.3.3.2. Infrastructure
  - 2.3.3.3. Regulatory Environment
  - 2.3.3.4. Market Competition
  - 2.3.3.5. Economic Viability (Consumer's Perspective)
- 2.3.4. Demand Side Analysis
  - 2.3.4.1. Regulatory Frameworks
  - 2.3.4.2. Technological Advancements
  - 2.3.4.3. Environmental Considerations
  - 2.3.4.4. Consumer Awareness & Acceptance
2.4. Estimation Methodology
2.5. Years Considered for the Study
2.6. Currency Conversion Rates

Chapter 3. Global Benzoic Acid Market Dynamics

3.1. Market Drivers
- 3.1.1. Increasing Demand in Food Preservation
- 3.1.2. Growth in Pharmaceutical Applications
- 3.1.3. Advancements in Polymer Production
3.2. Market Challenges
- 3.2.1. Stringent Regulatory Frameworks
- 3.2.2. Fluctuating Raw Material Costs
3.3. Market Opportunities
- 3.3.1. Expansion in Emerging Markets
- 3.3.2. Innovations in Sustainable Production
- 3.3.3. Development of High-Performance Derivatives

Chapter 4. Global Benzoic Acid Market Industry Analysis

4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.1.6. Futuristic Approach to Porter's 5 Force Model
- 4.1.7. Porter's 5 Force Impact Analysis
4.2. PESTEL Analysis
- 4.2.1. Political
- 4.2.2. Economical
- 4.2.3. Social
- 4.2.4. Technological
- 4.2.5. Environmental
- 4.2.6. Legal
4.3. Top Investment Opportunities
4.4. Top Winning Strategies
4.5. Disruptive Trends
4.6. Industry Expert Perspective
4.7. Analyst Recommendation & Conclusion

Chapter 5. Global Benzoic Acid Market Size & Forecasts by Application 2022-2032

5.1. Segment Dashboard
5.2. Global Benzoic Acid Market: Application Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 5.2.1. Adhesives & Sealants
- 5.2.2. Polymer
  - 5.2.2.1. Polyurethane
  - 5.2.2.2. Plastics
  - 5.2.2.3. Vinyl
  - 5.2.2.4. Rubber
- 5.2.3. Benzoates
- 5.2.4. Benzoate Plasticizers
- 5.2.5. Benzoyl Chloride
- 5.2.6. Animal Feed Additive
- 5.2.7. Others

Chapter 6. Global Benzoic Acid Market Size & Forecasts by End Use Industry 2022-2032

6.1. Segment Dashboard
6.2. Global Benzoic Acid Market: End Use Industry Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 6.2.1. Food & Beverages
- 6.2.2. Oil & Gas Industry
- 6.2.3. Paints & Coatings Industry
- 6.2.4. Automotive Industry
- 6.2.5. Pharmaceutical Industry
- 6.2.6. Others

Chapter 7. Global Benzoic Acid Market Size & Forecasts by Region 2022-2032

7.1. North America Benzoic Acid Market
- 7.1.1. U.S. Benzoic Acid Market
  - 7.1.1.1. Adhesives & Sealants Breakdown Size & Forecasts, 2022-2032
  - 7.1.1.2. Food & Beverages Breakdown Size & Forecasts, 2022-2032
- 7.1.2. Canada Benzoic Acid Market
7.2. Europe Benzoic Acid Market
- 7.2.1. U.K. Benzoic Acid Market
- 7.2.2. Germany Benzoic Acid Market
- 7.2.3. France Benzoic Acid Market
- 7.2.4. Spain Benzoic Acid Market
- 7.2.5. Italy Benzoic Acid Market
- 7.2.6. Rest of Europe Benzoic Acid Market
7.3. Asia-Pacific Benzoic Acid Market
- 7.3.1. China Benzoic Acid Market
- 7.3.2. India Benzoic Acid Market
- 7.3.3. Japan Benzoic Acid Market
- 7.3.4. Australia Benzoic Acid Market
- 7.3.5. South Korea Benzoic Acid Market
- 7.3.6. Rest of Asia Pacific Benzoic Acid Market
7.4. Latin America Benzoic Acid Market
- 7.4.1. Brazil Benzoic Acid Market
- 7.4.2. Mexico Benzoic Acid Market
- 7.4.3. Rest of Latin America Benzoic Acid Market
7.5. Middle East & Africa Benzoic Acid Market
- 7.5.1. Saudi Arabia Benzoic Acid Market
- 7.5.2. South Africa Benzoic Acid Market
- 7.5.3. Rest of Middle East & Africa Benzoic Acid Market

Chapter 8. Competitive Intelligence

8.1. Key Company SWOT Analysis
- 8.1.1. 3D Systems Corporation
- 8.1.2. CollPlant Biotechnologies Ltd
- 8.1.3. Cyfuse Biomedical K.K
8.2. Top Market Strategies
8.3. Company Profiles
- 8.3.1. 3D Systems Corporation
  - 8.3.1.1. Key Information
  - 8.3.1.2. Overview
  - 8.3.1.3. Financial (Subject to Data Availability)
  - 8.3.1.4. Product Summary
  - 8.3.1.5. Market Strategies
- 8.3.2. CollPlant Biotechnologies Ltd
- 8.3.3. Cyfuse Biomedical K.K
- 8.3.4. Desktop Metal, Inc.
- 8.3.5. Advanced Solutions, Inc.
- 8.3.6. Medprin Biotech GmbH
- 8.3.7. Organovo Holdings, Inc.
- 8.3.8. REGEMAT 3D S.L
- 8.3.9. Shining 3D
- 8.3.10. The Bio Convergence Company
- 8.3.11. BENEO GmbH
- 8.3.12. Arkema S.A.
- 8.3.13. BASF SE
- 8.3.14. Eastman Chemical Company
- 8.3.15. Emerald Performance Materials

Chapter 9. Research Process

9.1. Research Process
- 9.1.1. Data Mining
- 9.1.2. Analysis
- 9.1.3. Market Estimation
- 9.1.4. Validation
- 9.1.5. Publishing
9.2. Research Attributes