Global Benzoic Acid Market 2018 Top Companies are ARIHA CHEMICALS PRIVATE LIMITED, Emerald Performance Materials, Reliance Industries Limited, I G PETROCHEMICALS LIMITED, Avantor, Eastman Chemical Company, Siemens, Pharmaceutical Company

The report Global Benzoic Acid Market by key players highlights the essential market dynamics of Chemicals sector. The efficiency of this segment has been studied deeply along with the noteworthy challenges and forthcoming growth opportunities and prospective. The report focuses in decision making abilities and supports to make effective counter strategies in order to achieve competitive advantage. Current market scenario of the segment and forecasts of the market situation have also been bounded in this market report.

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

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:-

• U.S.,
• Canada,
• Germany,
• France,
• U.K.,
• Netherlands,
• Switzerland,
• Turkey,
• Russia,
• China,
• India,
• South Korea,
• Japan,
• Australia,
• Singapore,
• Saudi Arabia,
• South Africa,
• Brazil
• Among others.

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