Global Benzoic Acid Market 2024-2028

Description

List of Tables

The benzoic acid market is forecasted to grow by USD 245.5 mn during 2023-2028, accelerating at a CAGR of 6.94% during the forecast period. The report on the benzoic acid market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by high demand for benzoic acid from food and beverage industry, extensive use of benzoic acid in apac, and increasing demand for non-phthalate plasticizers.

Technavio's benzoic acid market is segmented as below:

Market Scope
Base Year	2024
End Year	2028
Series Year	2024-2028
Growth Momentum	Accelerate
YOY 2024	6.36%
CAGR	6.94%
Incremental Value	$245.5 mn

By Application

Benzoates
Benzoate plasticizers
Alkyd resins
Others

By Geographical Landscape

APAC
North America
Europe
South America
Middle East and Africa

This study identifies the rising demand for processed and packaged food as one of the prime reasons driving the benzoic acid market growth during the next few years. Also, growing demand from diversified applications and advances in the recovery of benzoic acid will lead to sizable demand in the market.

The report on the benzoic acid market covers the following areas:

Benzoic acid market sizing
Benzoic acid market forecast
Benzoic acid market industry analysis

The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading benzoic acid market vendors that include Aarti Industries Ltd., Chemcrux Enterprises Ltd., Eastman Chemical Co., FUSHIMI Pharmaceutical Co. Ltd., Ganesh Benzoplast Ltd., GFS Chemicals Inc., Hemadri Chemicals, IG Petrochemicals Ltd., Merck and Co. Inc., MP Biomedicals Inc., Navyug Pharmachem Pvt. Ltd., Pat Impex, Premier Group Of Industries, Shri Hari Chemicals, Smart Chemicals Group Co. Ltd., Swastik Industries, The Chemical Co., Thermo Fisher Scientific Inc., Tianjin Dongda Chemical Group Co. Ltd, and Velsicol Chemical LLC. Also, the benzoic acid market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.

Product Code: IRTNTR72396

1 Executive Summary

1.1 Market overview
- Executive Summary - Chart on Market Overview
- Executive Summary - Data Table on Market Overview
- Executive Summary - Chart on Global Market Characteristics
- Executive Summary - Chart on Market By Geographical Landscape
- Executive Summary - Chart on Market Segmentation by Application
- Executive Summary - Chart on Incremental Growth
- Executive Summary - Data Table on Incremental Growth
- Executive Summary - Chart on Company Market Positioning

2 Market Landscape

2.1 Market ecosystem
- Parent Market
- Data Table on - Parent Market
2.2 Market characteristics
- Market characteristics analysis
2.3 Value chain analysis
- Value Chain Analysis

3 Market Sizing

3.1 Market definition
- Offerings of companies included in the market definition
3.2 Market segment analysis
- Market segments
3.3 Market size 2023
3.4 Market outlook: Forecast for 2023-2028
- Chart on Global - Market size and forecast 2023-2028 ($ million)
- Data Table on Global - Market size and forecast 2023-2028 ($ million)
- Chart on Global Market: Year-over-year growth 2023-2028 (%)
- Data Table on Global Market: Year-over-year growth 2023-2028 (%)

4 Historic Market Size

4.1 Global Benzoic Acid Market 2018 - 2022
- Historic Market Size - Data Table on Global Benzoic Acid Market 2018 - 2022 ($ million)
4.2 Application segment analysis 2018 - 2022
- Historic Market Size - Application Segment 2018 - 2022 ($ million)
4.3 Geography segment analysis 2018 - 2022
- Historic Market Size - Geography Segment 2018 - 2022 ($ million)
4.4 Country segment analysis 2018 - 2022
- Historic Market Size - Country Segment 2018 - 2022 ($ million)

5 Five Forces Analysis

5.1 Five forces summary
- Five forces analysis - Comparison between 2023 and 2028
5.2 Bargaining power of buyers
- Bargaining power of buyers - Impact of key factors 2023 and 2028
5.3 Bargaining power of suppliers
- Bargaining power of suppliers - Impact of key factors in 2023 and 2028
5.4 Threat of new entrants
- Threat of new entrants - Impact of key factors in 2023 and 2028
5.5 Threat of substitutes
- Threat of substitutes - Impact of key factors in 2023 and 2028
5.6 Threat of rivalry
- Threat of rivalry - Impact of key factors in 2023 and 2028
5.7 Market condition
- Chart on Market condition - Five forces 2023 and 2028

6 Market Segmentation by Application

6.1 Market segments
- Chart on Application - Market share 2023-2028 (%)
- Data Table on Application - Market share 2023-2028 (%)
6.2 Comparison by Application
- Chart on Comparison by Application
- Data Table on Comparison by Application
6.3 Benzoates - Market size and forecast 2023-2028
- Chart on Benzoates - Market size and forecast 2023-2028 ($ million)
- Data Table on Benzoates - Market size and forecast 2023-2028 ($ million)
- Chart on Benzoates - Year-over-year growth 2023-2028 (%)
- Data Table on Benzoates - Year-over-year growth 2023-2028 (%)
6.4 Benzoate plasticizers - Market size and forecast 2023-2028
- Chart on Benzoate plasticizers - Market size and forecast 2023-2028 ($ million)
- Data Table on Benzoate plasticizers - Market size and forecast 2023-2028 ($ million)
- Chart on Benzoate plasticizers - Year-over-year growth 2023-2028 (%)
- Data Table on Benzoate plasticizers - Year-over-year growth 2023-2028 (%)
6.5 Alkyd resins - Market size and forecast 2023-2028
- Chart on Alkyd resins - Market size and forecast 2023-2028 ($ million)
- Data Table on Alkyd resins - Market size and forecast 2023-2028 ($ million)
- Chart on Alkyd resins - Year-over-year growth 2023-2028 (%)
- Data Table on Alkyd resins - Year-over-year growth 2023-2028 (%)
6.6 Others - Market size and forecast 2023-2028
- Chart on Others - Market size and forecast 2023-2028 ($ million)
- Data Table on Others - Market size and forecast 2023-2028 ($ million)
- Chart on Others - Year-over-year growth 2023-2028 (%)
- Data Table on Others - Year-over-year growth 2023-2028 (%)
6.7 Market opportunity by Application
- Market opportunity by Application ($ million)
- Data Table on Market opportunity by Application ($ million)

7 Customer Landscape

7.1 Customer landscape overview
- Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

8 Geographic Landscape

8.1 Geographic segmentation
- Chart on Market share By Geographical Landscape 2023-2028 (%)
- Data Table on Market share By Geographical Landscape 2023-2028 (%)
8.2 Geographic comparison
- Chart on Geographic comparison
- Data Table on Geographic comparison
8.3 APAC - Market size and forecast 2023-2028
- Chart on APAC - Market size and forecast 2023-2028 ($ million)
- Data Table on APAC - Market size and forecast 2023-2028 ($ million)
- Chart on APAC - Year-over-year growth 2023-2028 (%)
- Data Table on APAC - Year-over-year growth 2023-2028 (%)
8.4 North America - Market size and forecast 2023-2028
- Chart on North America - Market size and forecast 2023-2028 ($ million)
- Data Table on North America - Market size and forecast 2023-2028 ($ million)
- Chart on North America - Year-over-year growth 2023-2028 (%)
- Data Table on North America - Year-over-year growth 2023-2028 (%)
8.5 Europe - Market size and forecast 2023-2028
- Chart on Europe - Market size and forecast 2023-2028 ($ million)
- Data Table on Europe - Market size and forecast 2023-2028 ($ million)
- Chart on Europe - Year-over-year growth 2023-2028 (%)
- Data Table on Europe - Year-over-year growth 2023-2028 (%)
8.6 South America - Market size and forecast 2023-2028
- Chart on South America - Market size and forecast 2023-2028 ($ million)
- Data Table on South America - Market size and forecast 2023-2028 ($ million)
- Chart on South America - Year-over-year growth 2023-2028 (%)
- Data Table on South America - Year-over-year growth 2023-2028 (%)
8.7 Middle East and Africa - Market size and forecast 2023-2028
- Chart on Middle East and Africa - Market size and forecast 2023-2028 ($ million)
- Data Table on Middle East and Africa - Market size and forecast 2023-2028 ($ million)
- Chart on Middle East and Africa - Year-over-year growth 2023-2028 (%)
- Data Table on Middle East and Africa - Year-over-year growth 2023-2028 (%)
8.8 China - Market size and forecast 2023-2028
- Chart on China - Market size and forecast 2023-2028 ($ million)
- Data Table on China - Market size and forecast 2023-2028 ($ million)
- Chart on China - Year-over-year growth 2023-2028 (%)
- Data Table on China - Year-over-year growth 2023-2028 (%)
8.9 US - Market size and forecast 2023-2028
- Chart on US - Market size and forecast 2023-2028 ($ million)
- Data Table on US - Market size and forecast 2023-2028 ($ million)
- Chart on US - Year-over-year growth 2023-2028 (%)
- Data Table on US - Year-over-year growth 2023-2028 (%)
8.10 India - Market size and forecast 2023-2028
- Chart on India - Market size and forecast 2023-2028 ($ million)
- Data Table on India - Market size and forecast 2023-2028 ($ million)
- Chart on India - Year-over-year growth 2023-2028 (%)
- Data Table on India - Year-over-year growth 2023-2028 (%)
8.11 Germany - Market size and forecast 2023-2028
- Chart on Germany - Market size and forecast 2023-2028 ($ million)
- Data Table on Germany - Market size and forecast 2023-2028 ($ million)
- Chart on Germany - Year-over-year growth 2023-2028 (%)
- Data Table on Germany - Year-over-year growth 2023-2028 (%)
8.12 UK - Market size and forecast 2023-2028
- Chart on UK - Market size and forecast 2023-2028 ($ million)
- Data Table on UK - Market size and forecast 2023-2028 ($ million)
- Chart on UK - Year-over-year growth 2023-2028 (%)
- Data Table on UK - Year-over-year growth 2023-2028 (%)
8.13 Market opportunity By Geographical Landscape
- Market opportunity By Geographical Landscape ($ million)
- Data Tables on Market opportunity By Geographical Landscape ($ million)

9 Drivers, Challenges, and Opportunity/Restraints

9.1 Market drivers
9.2 Market challenges
9.3 Impact of drivers and challenges
- Impact of drivers and challenges in 2023 and 2028
9.4 Market opportunities/restraints

10 Competitive Landscape

10.1 Overview
10.2 Competitive Landscape
- Overview on criticality of inputs and factors of differentiation
10.3 Landscape disruption
- Overview on factors of disruption
10.4 Industry risks
- Impact of key risks on business

11 Competitive Analysis

11.1 Companies profiled
- Companies covered
11.2 Market positioning of companies
- Matrix on companies position and classification
11.3 Aarti Industries Ltd.
- Aarti Industries Ltd. - Overview
- Aarti Industries Ltd. - Business segments
- Aarti Industries Ltd. - Key offerings
- Aarti Industries Ltd. - Segment focus
11.4 Chemcrux Enterprises Ltd.
- Chemcrux Enterprises Ltd. - Overview
- Chemcrux Enterprises Ltd. - Product / Service
- Chemcrux Enterprises Ltd. - Key offerings
11.5 Eastman Chemical Co.
- Eastman Chemical Co. - Overview
- Eastman Chemical Co. - Business segments
- Eastman Chemical Co. - Key news
- Eastman Chemical Co. - Key offerings
- Eastman Chemical Co. - Segment focus
11.6 FUSHIMI Pharmaceutical Co. Ltd.
- FUSHIMI Pharmaceutical Co. Ltd. - Overview
- FUSHIMI Pharmaceutical Co. Ltd. - Product / Service
- FUSHIMI Pharmaceutical Co. Ltd. - Key offerings
11.7 Ganesh Benzoplast Ltd.
- Ganesh Benzoplast Ltd. - Overview
- Ganesh Benzoplast Ltd. - Product / Service
- Ganesh Benzoplast Ltd. - Key offerings
11.8 Hemadri Chemicals
- Hemadri Chemicals - Overview
- Hemadri Chemicals - Product / Service
- Hemadri Chemicals - Key offerings
11.9 IG Petrochemicals Ltd.
- IG Petrochemicals Ltd. - Overview
- IG Petrochemicals Ltd. - Product / Service
- IG Petrochemicals Ltd. - Key offerings
11.10 Merck and Co. Inc.
- Merck and Co. Inc. - Overview
- Merck and Co. Inc. - Business segments
- Merck and Co. Inc. - Key news
- Merck and Co. Inc. - Key offerings
- Merck and Co. Inc. - Segment focus
11.11 Smart Chemicals Group Co. Ltd.
- Smart Chemicals Group Co. Ltd. - Overview
- Smart Chemicals Group Co. Ltd. - Product / Service
- Smart Chemicals Group Co. Ltd. - Key offerings
11.12 The Chemical Co.
- The Chemical Co. - Overview
- The Chemical Co. - Product / Service
- The Chemical Co. - Key offerings

12 Appendix

12.1 Scope of the report
12.2 Inclusions and exclusions checklist
- Inclusions checklist
- Exclusions checklist
12.3 Currency conversion rates for US$
- Currency conversion rates for US$
12.4 Research methodology
- Research methodology
12.5 Data procurement
- Information sources
12.6 Data validation
- Data validation
12.7 Validation techniques employed for market sizing
- Validation techniques employed for market sizing
12.8 Data synthesis
- Data synthesis
12.9 360 degree market analysis
- 360 degree market analysis
12.10 List of abbreviations
- List of abbreviations