Global Benzoic Acid Market Research Report Information By Application (Adhesives & Sealant, Polymer, Benzoates, Benzoate Plasticizers, Benzoyl Chloride, Animal Feed Additive, Others) By End Use Industry and By Region

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Global Benzoic Acid Market Research Report Information By Application (Adhesives & Sealant, 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) and By Region (North America, Europe, Asia-Pacific, South America, Middle East & Africa )- Forecast to 2030

Market Overview

In 2023, the benzoic acid market was valued at USD 717.10 million. The Benzoic Acid industry is expected to increase from USD 734.81 million in 2024 to USD 890.59 million by 2030, with a compound annual growth rate (CAGR) of 3.26% over the forecast period (2024- 2030). The widespread usage of benzoic acid as a preservative in the food and beverage and pharmaceutical industries is one of the primary drivers of market growth. Demand for benzoic acid is being driven by the global pharmaceutical sector, which is expanding as disease prevalence increases. Furthermore, the utilization of benzoic acid as a precursor in the manufacture of benzoyl chloride and phenol is a significant contributor to market growth. Benzoyl chloride is a precursor of benzyl benzoate, which is used in flavorings and insect repellents. Phenol produced from benzoic acid is used in nylon synthesis and has a wide range of applications. Additionally, tight limits on the use of phthalic plasticizers have resulted in growing use of non-phthalate plasticizers, such as benzoate plasticizers, which is a global megatrend.

The increasing usage of benzoic acid in the food and beverage industry is a major factor driving the growth of the Benzoic Acid Market. Because of its antibacterial qualities, benzoic acid is widely employed as a preservative in a variety of food and beverage goods, extending shelf life and maintaining product quality. Benzoic acid and its salts, such as sodium and potassium benzoate, are good preservatives against bacteria, yeast, and molds.

Market Segment insights

The Benzoic Acid Market has been categorized by application into adhesives and sealants, polymers (polyurethane, plastics, vinyl, rubber), benzoates, benzoate plasticizers, benzoyl chloride, animal feed additives, and others.

The Benzoic Acid Market is divided into end-use industries such as food and drinks, oil and gas, paints and coatings, automotive, pharmaceuticals, and others.

Regional insights

The benzoic acid market is divided into five regions: North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. The Asia-Pacific Benzoic Acid market has the largest market share and is predicted to account for a sizable revenue share throughout the forecast period. In addition, the Asia Pacific area is likely to see tremendous growth, with China and India leading the way. The region's expanding food and beverage industry, fueled by population growth and increased disposable income, has contributed to high demand for benzoic acid. Also, benzoic acid is a key commodity in the pharmaceutical business, and increased health consciousness is driving demand for it.

Major Players

Lanxess, Plater Group, Eastman Chemical Company, Foodchem International Corporation, Merck KGaA, Ganesh Benzoplast Limited, Anhui Primechem, Sinteza S.A, Choice Organochem LLP, Spectrum Chemical, Hemadri Chemicals, Wuhan Youji Industries Co., Ltd, Swastik Industries, Navyug Pharmachem Pvt Ltd, PENTA s.r.o, Liaoning Huayi Chemical Industry& Commerce Co.,Ltd, and Ujwal Pharma Pvt. Ltd.

Product Code: MRFR/CnM/0613-CR

1 EXECUTIVE SUMMARY

1.1 MARKET ATTRACTIVENESS ANALYSIS
- 1.1.1 GLOBAL BENZOIC ACID MARKET, BY APPLICATION
- 1.1.2 GLOBAL BENZOIC ACID MARKET, BY END-USE INDUSTRY

2 MARKET INTRODUCTION

2.1 DEFINITION
2.2 SCOPE OF THE STUDY
2.3 RESEARCH OBJECTIVE
2.4 MARKET STRUCTURE

3 RESEARCH METHODOLOGY

3.1 RESEARCH PACKAGING END-USE
3.2 PRIMARY RESEARCH
3.3 SECONDARY RESEARCH
3.4 MARKET SIZE ESTIMATION
3.5 TOP-DOWN AND BOTTOM-UP APPROACH
3.6 FORECAST MODEL
3.7 LIST OF ASSUMPTIONS & LIMITATIONS

4 MARKET DYNAMICS

4.1 INTRODUCTION
4.2 DRIVERS
- 4.2.1 GROWING DEMAND IN PACKAGED FOOD AND BEVERAGES
- 4.2.2 GROWING PHARMACEUTICAL INDUSTRY
4.3 RESTRAINTS
- 4.3.1 HEATH HAZARDS ASSOCIATED WITH BENZOIC ACID
4.4 OPPORTUNITIES
- 4.4.1 GROWING USE OF BENZOATES IN COSMETICS & PERSONAL CARE APPLICATIONS
4.5 TRENDS
- 4.5.1 INCREASING DEMAND FOR NON-PHTHALATE PLASTICIZERS OVER PHTHALATE PLASTICIZERS

5 MARKET FACTOR ANALYSIS

5.1 SUPPLY CHAIN ANALYSIS
- 5.1.1 RAW MATERIAL SUPPLIERS
  - 5.1.1.1 LIST OF RAW MATERIAL SUPPLIERS
  - 5.1.1.2 RAW MATERIALS PRICING ANALYSIS
- 5.1.2 BENZOIC ACID MANUFACTURERS
- 5.1.3 DISTRIBUTION & SALES CHANNELS
  - 5.1.3.1 LIST OF SUPPLIERS
- 5.1.4 END USERS
  - 5.1.4.1 LIST OF POTENTIAL BUYERS
5.2 PORTER'S FIVE FORCES ANALYSIS
- 5.2.1 THREAT OF NEW ENTRANTS
- 5.2.2 BARGAINING POWER OF SUPPLIERS
- 5.2.3 THREAT OF SUBSTITUTES
- 5.2.4 BARGAINING POWER OF BUYERS
- 5.2.5 INTENSITY OF RIVALRY
5.3 PRICING OVERVIEW, BY REGION (USD/TONS) *
- 5.3.1 PRICING DRIVERS
5.4 COST COMPONENTS & BREAKDOWN
- 5.4.1 COST DRIVERS
5.5 CONTRACT TERMS & PRACTICE
5.6 SUPPLY DEMAND ANALYSIS
5.7 ENVIRONMENTAL/REGULATORY FRAMEWORK
5.8 TRADE ANALYSIS (UNDER HS CODE 291631)
- 5.8.1 IMPORTS, BY COUNTRIES(USD)
- 5.8.2 EXPORT, BY COUNTRIES (USD)
5.9 PRODUCTION ANALYSIS
5.10 IMPACT OF COVID 19 ON THE GLOBAL BENZOIC ACID MARKET
- 5.10.1 IMPACT OF COVID-19 ON SUPPLY CHAIN OF BENZOIC ACID MARKET

6 GLOBAL BENZOIC ACID MARKET, BY APPLICATION

6.1 OVERVIEW
6.2 GLOBAL BENZOIC ACID MARKET SIZE, MARKET ESTIMATES & FORECAST BY APPLICATION, 2019-2030
- 6.2.1 GLOBAL BENZOIC ACID MARKETSIZE: MARKET ESTIMATES & FORECAST BY APPLICATION, 2019-2030
6.3 GLOBAL BENZOIC ACID MARKET SIZE, MARKET ESTIMATES & FORECAST BY APPLICATION, 2019-2030
- 6.3.1 GLOBAL BENZOIC ACID MARKETSIZE: MARKET ESTIMATES & FORECAST BY APPLICATION, 2019-2030

7 GLOBAL BENZOIC ACID MARKET, BY END-USER

7.1 OVERVIEW
7.2 GLOBAL BENZOIC ACID MARKET SIZE, MARKET ESTIMATES & FORECAST BY END-USER, 2019-2030
- 7.2.1 GLOBAL BENZOIC ACID MARKETSIZE: MARKET ESTIMATES & FORECAST BY END-USER, 2019-2030
7.3 GLOBAL BENZOIC ACID MARKET SIZE, MARKET ESTIMATES & FORECAST BY END-USER, 2019-2030
- 7.3.1 GLOBAL BENZOIC ACID MARKETSIZE: MARKET ESTIMATES & FORECAST BY END-USER, 2019-2030

8 GLOBAL BENZOIC ACID MARKET, BY REGION

8.1 NORTH AMERICA
- 8.1.1 US
- 8.1.2 CANADA
8.2 EUROPE
- 8.2.1 GERMANY
- 8.2.2 UK
- 8.2.3 FRANCE
- 8.2.4 RUSSIA
- 8.2.5 SPAIN
- 8.2.6 ITALY
- 8.2.7 NETHERLANDS
- 8.2.8 POLAND
- 8.2.9 UKRAINE
- 8.2.10 ESTONIA
- 8.2.11 MOLDOVA
- 8.2.12 ROMANIA
- 8.2.13 PORTUGAL
- 8.2.14 GREECE
- 8.2.15 IRELAND
- 8.2.16 REST OF EUROPE
8.3 ASIA PACIFIC
- 8.3.1 CHINA
- 8.3.2 JAPAN
- 8.3.3 INDIA
- 8.3.4 SOUTH KOREA
- 8.3.5 INDONESIA
- 8.3.6 REST OF ASIA PACIFIC
8.4 SOUTH AMERICA
- 8.4.1 BRAZIL
- 8.4.2 MEXICO
- 8.4.3 ARGENTINA
- 8.4.4 REST OF SOUTH AMERICA
8.5 MIDDLE EAST & AFRICA
- 8.5.1 TURKEY
- 8.5.2 ISRAEL
- 8.5.3 SOUTH AFRICA
- 8.5.4 GCC COUNTRIES
- 8.5.5 REST OF MIDDLE EAST & AFRICA

9 COMPETITIVE LANDSCAPE

9.1 MARKET INTRODUCTION
9.2 COMPETITIVE BENCHMARKING
9.3 MARKET SHARE ANALYSIS,
9.4 KEY DEVELOPMENTS & GROWTH STRATEGIES
- 9.4.1 ACQUISITION
- 9.4.2 CAPACITY EXPANSION
- 9.4.3 PROJECT LAUNCH
- 9.4.4 RECOGNITION

10 COMPANY PROFILES

10.1 KEY COMPETITORS (EUROPE)
- 10.1.1 LANXESS
  - 10.1.1.1 COMPANY OVERVIEW
  - 10.1.1.2 FINANCIAL OVERVIEW
  - 10.1.1.3 PRODUCTS OFFERED
  - 10.1.1.4 KEY DEVELOPMENTS
  - 10.1.1.5 SWOT ANALYSIS
  - 10.1.1.6 KEY STRATEGIES
- 10.1.2 PLATER GROUP
  - 10.1.2.1 COMPANY OVERVIEW
  - 10.1.2.2 FINANCIAL OVERVIEW
  - 10.1.2.3 PRODUCTS OFFERED
  - 10.1.2.4 KEY DEVELOPMENTS
  - 10.1.2.5 SWOT ANALYSIS
  - 10.1.2.6 KEY STRATEGIES
- 10.1.3 EASTMAN CHEMICAL COMPANY
  - 10.1.3.1 COMPANY OVERVIEW
  - 10.1.3.2 FINANCIAL OVERVIEW
  - 10.1.3.3 PRODUCTS OFFERED
  - 10.1.3.4 KEY DEVELOPMENTS
  - 10.1.3.5 SWOT ANALYSIS
  - 10.1.3.6 KEY STRATEGIES
- 10.1.4 FOODCHEM INTERNATIONAL CORPORATION
  - 10.1.4.1 COMPANY OVERVIEW
  - 10.1.4.2 FINANCIAL OVERVIEW
  - 10.1.4.3 PRODUCTS OFFERED
  - 10.1.4.4 KEY DEVELOPMENTS
  - 10.1.4.5 SWOT ANALYSIS
  - 10.1.4.6 KEY STRATEGIES
- 10.1.5 MERCK KGAA
  - 10.1.5.1 COMPANY OVERVIEW
  - 10.1.5.2 FINANCIAL OVERVIEW
  - 10.1.5.3 PRODUCTS OFFERED
  - 10.1.5.4 KEY DEVELOPMENTS
  - 10.1.5.5 SWOT ANALYSIS
  - 10.1.5.6 KEY STRATEGIES
10.2 KEY PLAYERS (GLOBAL)
- 10.2.1 GANESH BENZOPLAST LIMITED
  - 10.2.1.1 COMPANY OVERVIEW
  - 10.2.1.2 FINANCIAL OVERVIEW
  - 10.2.1.3 PRODUCTS OFFERED
  - 10.2.1.4 KEY DEVELOPMENTS
  - 10.2.1.5 SWOT ANALYSIS
  - 10.2.1.6 KEY STRATEGIES
- 10.2.2 ANHUI PRIMECHEM
  - 10.2.2.1 COMPANY OVERVIEW
  - 10.2.2.2 FINANCIAL OVERVIEW
  - 10.2.2.3 PRODUCTS OFFERED
  - 10.2.2.4 KEY DEVELOPMENTS
  - 10.2.2.5 SWOT ANALYSIS
  - 10.2.2.6 KEY STRATEGIES
- 10.2.3 SINTEZA S.A
  - 10.2.3.1 COMPANY OVERVIEW
  - 10.2.3.2 FINANCIAL OVERVIEW
  - 10.2.3.3 PRODUCTS OFFERED
  - 10.2.3.4 KEY DEVELOPMENTS
  - 10.2.3.5 SWOT ANALYSIS
  - 10.2.3.6 KEY STRATEGIES
- 10.2.4 CHOICE ORGANOCHEM LLP
  - 10.2.4.1 COMPANY OVERVIEW
  - 10.2.4.2 FINANCIAL OVERVIEW
  - 10.2.4.3 PRODUCTS OFFERED
  - 10.2.4.4 KEY DEVELOPMENTS
  - 10.2.4.5 SWOT ANALYSIS
  - 10.2.4.6 KEY STRATEGIES
- 10.2.5 SPECTRUM CHEMICAL
  - 10.2.5.1 COMPANY OVERVIEW
  - 10.2.5.2 FINANCIAL OVERVIEW
  - 10.2.5.3 PRODUCTS OFFERED
  - 10.2.5.4 KEY DEVELOPMENTS
  - 10.2.5.5 SWOT ANALYSIS
  - 10.2.5.6 KEY STRATEGIES
- 10.2.6 HEMADRI CHEMICALS
  - 10.2.6.1 COMPANY OVERVIEW
  - 10.2.6.2 FINANCIAL OVERVIEW
  - 10.2.6.3 PRODUCTS OFFERED
  - 10.2.6.4 KEY DEVELOPMENTS
  - 10.2.6.5 SWOT ANALYSIS
  - 10.2.6.6 KEY STRATEGIES
- 10.2.7 WUHAN YOUJI INDUSTRIES CO., LT
  - 10.2.7.1 COMPANY OVERVIEW
  - 10.2.7.2 FINANCIAL OVERVIEW
  - 10.2.7.3 PRODUCTS OFFERED
  - 10.2.7.4 KEY DEVELOPMENTS
  - 10.2.7.5 SWOT ANALYSIS
  - 10.2.7.6 KEY STRATEGIES
- 10.2.8 SWASTIK INDUSTRIES
  - 10.2.8.1 COMPANY OVERVIEW
  - 10.2.8.2 FINANCIAL OVERVIEW
  - 10.2.8.3 PRODUCTS OFFERED
  - 10.2.8.4 KEY DEVELOPMENTS
  - 10.2.8.5 SWOT ANALYSIS
  - 10.2.8.6 KEY STRATEGIES
- 10.2.9 NAVYUG PHARMACHEM PVT LTD
  - 10.2.9.1 COMPANY OVERVIEW
  - 10.2.9.2 FINANCIAL OVERVIEW
  - 10.2.9.3 PRODUCTS OFFERED
  - 10.2.9.4 KEY DEVELOPMENTS
  - 10.2.9.5 SWOT ANALYSIS
  - 10.2.9.6 KEY STRATEGIES
- 10.2.10 PENTA S.R.O.
  - 10.2.10.1 COMPANY OVERVIEW
  - 10.2.10.2 FINANCIAL OVERVIEW
  - 10.2.10.3 PRODUCTS OFFERED
  - 10.2.10.4 KEY DEVELOPMENTS
  - 10.2.10.5 SWOT ANALYSIS
  - 10.2.10.6 KEY STRATEGIES
- 10.2.11 LIAONING HUAYI CHEMICAL INDUSTRY& COMMERCE CO.,LTD
  - 10.2.11.1 COMPANY OVERVIEW
  - 10.2.11.2 FINANCIAL OVERVIEW
  - 10.2.11.3 PRODUCTS OFFERED
  - 10.2.11.4 KEY DEVELOPMENTS
  - 10.2.11.5 SWOT ANALYSIS
  - 10.2.11.6 KEY STRATEGIES
- 10.2.12 UJWAL PHARMA PVT. LTD.
  - 10.2.12.1 COMPANY OVERVIEW
  - 10.2.12.2 FINANCIAL OVERVIEW
  - 10.2.12.3 PRODUCTS OFFERED
  - 10.2.12.4 KEY DEVELOPMENTS
  - 10.2.12.5 SWOT ANALYSIS
  - 10.2.12.6 KEY STRATEGIES
- 10.2.13 A.M FOOD CHEMICAL CO., LIMITED
  - 10.2.13.1 COMPANY OVERVIEW
  - 10.2.13.2 FINANCIAL OVERVIEW
  - 10.2.13.3 PRODUCTS OFFERED
  - 10.2.13.4 KEY DEVELOPMENTS
  - 10.2.13.5 SWOT ANALYSIS
  - 10.2.13.6 KEY STRATEGIES
- 10.2.14 DUBICHEM
  - 10.2.14.1 COMPANY OVERVIEW
  - 10.2.14.2 FINANCIAL OVERVIEW
  - 10.2.14.3 PRODUCTS OFFERED
  - 10.2.14.4 KEY DEVELOPMENTS
  - 10.2.14.5 SWOT ANALYSIS
  - 10.2.14.6 KEY STRATEGIES
- 10.2.15 OASIS FINE CHEM
  - 10.2.15.1 COMPANY OVERVIEW
  - 10.2.15.2 FINANCIAL OVERVIEW
  - 10.2.15.3 PRODUCTS OFFERED
  - 10.2.15.4 KEY DEVELOPMENTS
  - 10.2.15.5 SWOT ANALYSIS
  - 10.2.15.6 KEY STRATEGIES
- 10.2.16 SHREEJI PHARMA INTERNATIONAL
  - 10.2.16.1 COMPANY OVERVIEW
  - 10.2.16.2 FINANCIAL OVERVIEW
  - 10.2.16.3 PRODUCTS OFFERED
  - 10.2.16.4 KEY DEVELOPMENTS
  - 10.2.16.5 SWOT ANALYSIS
  - 10.2.16.6 KEY STRATEGIES
- 10.2.17 MOORE DYE CHEM PVT. LTD
  - 10.2.17.1 COMPANY OVERVIEW
  - 10.2.17.2 FINANCIAL OVERVIEW
  - 10.2.17.3 PRODUCTS OFFERED
  - 10.2.17.4 KEY DEVELOPMENTS
  - 10.2.17.5 SWOT ANALYSIS
  - 10.2.17.6 KEY STRATEGIES
- 10.2.18 SAN FU CHEMICAL CO., LTD
  - 10.2.18.1 COMPANY OVERVIEW
  - 10.2.18.2 FINANCIAL OVERVIEW
  - 10.2.18.3 PRODUCTS OFFERED
  - 10.2.18.4 KEY DEVELOPMENTS
  - 10.2.18.5 SWOT ANALYSIS
  - 10.2.18.6 KEY STRATEGIES
- 10.2.19 PAT IMPEX
  - 10.2.19.1 COMPANY OVERVIEW
  - 10.2.19.2 FINANCIAL OVERVIEW
  - 10.2.19.3 PRODUCTS OFFERED
  - 10.2.19.4 KEY DEVELOPMENTS
  - 10.2.19.5 SWOT ANALYSIS
  - 10.2.19.6 KEY STRATEGIES