Press release
Global Benzoic Acid Market Analysis 2018 With Top Analysis of Key players like Premier Group of Industries, Avantor Performance Materials, Eastman Chemical Company, FUSHIMI Pharmaceutical Co., Ltd., Siemens Corporation
Global Benzoic Acid Market ? Industry Trends and Forecast to 2025
The Global Benzoic Acid Market is expected to reach USD 1,426.52 million by 2025, from USD 930.9 million in 2017 growing at a CAGR of 5.15% during the forecast period of 2018 to 2025. The upcoming market report contains data for historic year 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.
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Global Benzoic Acid Market, By Application (Benzoates, Benzoate Plasticizers, Animal Feed Additive, Benzoyl Chloride, Alkyd Resins, Others), By End User (Chemical, Food & Beverages, Pharmaceutical, Others), By Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)– Industry Trends and Forecast to 2025
Major Players:
The key players operating in the global benzoic acid market are –
Ariha Chemicals Private Limited
Emerald Performance Materials
Reliance Industries Limited
G Petrochemicals Limited
Nimbasia
The other players in the market are Premier Group of Industries, Avantor Performance Materials, Eastman Chemical Company, FUSHIMI Pharmaceutical Co., Ltd., Siemens Corporation, Pharmaceutical Co., Ltd., Indian Oil Corporation, Ganesh Benzoplast Limited., Hemadri Chemicals, Liao Ning Huayi Chemical Industry & Commerce Co., Krishna Chemicals, PAT Impex, Primechem Enterprises, SAN FU Chemical Group Co., Sinteza, Smart Chemicals Group Co., Swastik Industries, Triveni Interchem Private Limited, Avantor® Performance Materials, LLC., The Chemical Company, Velsicol Chemical LLC, JQC(Huayin) Pharmaceutical Co.,Ltd., Dongda, Choice Organochem Llp., Wuhan YouJi Industries Company Limited and many more.
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Major Market Drivers :
Increasing demand for benzoic acid from the food & beverages industry
Rising demand for processed food items & beverages
Growth of urbanization and shift in the consumer lifestyle
Market Restraint:
Government regulations to limit the use of benzoic acid in packaged food items & beverages
Continues Use of benzoic acid can cause harm to lungs and digestive tract
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Market Definition:
Benzoic acid with chemical formula C6H5COOH, is colorless and crystalline aromatic carboxylic acid and is obtained from the resin of large shrubs belonging to the styrax genus. Benzoic acid helps to prevent infection caused by bacteria which is why it is widely used by the food and beverages industry to prevent the growth of bacteria and fungi in the food. It is added with a concentration of 0.05-0.1% to the food products. Benzoic acid is also used in pharmaceutical, plastics, chemical and in other industries. As people are more concern about their health, they prefer packed food and beverages which increases the demand for benzoic acid. According to State of the Specialty Food Industry, food industry continues to grow at a strong clip with Dollar sales hit USD 127.0 billion, a 15.0% jump in total sales between 2014 and 2016. According to International Trade Administration, the worldwide market for pharmaceuticals is projected to grow from around USD 1.0 trillion in 2015 to USD 1.3 trillion by 2020, which shows an annual growth rate of 4.9%. Some global demographic and economic trends are influencing pharmaceutical consumption, including a fastest growing aging world population and a related rise in chronic diseases, growing urbanization and increase in disposable incomes, greater government expenditure on healthcare and raising demand for more operative treatments. This above factor proves that the market for packed food and pharmaceutical around the globe is growing and will drive the demand for benzoic acid.
Competitive Landscape:
The global benzoic acid market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of benzoic acid market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
Key Insights in the report:
Historical and current market size and projection up to 2025
Market trends impacting the growth of the global benzoic acid market
Analyze and forecast the benzoic acid market on the basis of application and end user
Trends of key regional and country-level markets for application and end user
Company profiling of key players which includes business operations, product and services, geographic presence, recent developments and key financial analysis
Some of the major countries covered in this report are:-
US.,
Canada,
Germany,
France,
UK.,
Netherlands,
Switzerland,
Turkey,
Russia,
China,
India,
South Korea,
Japan,
Australia,
Singapore,
Saudi Arabia,
South Africa,
Brazil
Among others.
Read more about This Report @ https://databridgemarketresearch.com/reports/global-benzoic-acid-market/
About Data Bridge Market Research:
Data Bridge Market Research set forth itself as an unconventional and neoteric Market research and consulting firm with unparalleled level of resilience and integrated approaches. We are determined to unearth the best market opportunities and foster efficient information for your business to thrive in the market. Data Bridge endeavors to provide appropriate solutions to the complex business challenges and initiates an effortless decision-making process.
Contact:
Data Bridge Market Research
Tel: +1-888-387-2818
Email: sopan.gedam@databridgemarketresearch.com
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This report analyzes the global benzoic acid market by derivative (alkyl benzene, cumene, cyclohexane, ethyl benzene, nitro benzene and others) and region; it also studies the top manufacturers in the market.
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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.
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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…
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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…
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