Benzoic Acid Market could be worth US$ 1,028.07 million by 2028, says Premium Market Insights

Benzoic Acid Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Application (Food Preservatives, Corrosive Inhibitor, Alkyd Resins, Synthesis Intermediates, Plasticizers, Feed Additives, and Others) The benzoic acid market size was valued at US$ 1,028.07 million in 2021 and is projected to reach US$ 1,496.54 million by 2028. It is expected to grow at a CAGR of 5.5% from 2021 to 2028.

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Competitive Landscape: Benzoic Acid Market:
Benzoic acid is a commonly used antimicrobial preservative in beverages, especially carbonated beverages. In addition, sodium benzoate is a widely used preservative in soft drinks. Furthermore, there is a shift in consumer preferences towards the adoption of convenience food and ready-to-drink beverages in different regions such as Europe and North America, thereby driving the demand for benzoic acid. Thus, the strong growth in the food & beverages industry and the growing demand for preservatives to improve the shelf life of the different food products contribute to the strong demand for benzoic acid. Hence, the growing demand for benzoic acid from the food & beverages industry is driving the benzoic acid market growth. Further, Plasticizers are non-volatile organic chemicals incorporated into a plastic or elastomer to improve polymers' flexibility, extensibility, and processability. Phthalate plasticizers have been the most commonly used plasticizers. However, due to concerns about potential negative effects on human health in the past decade, various regulations have been enacted in the European Union (EU) and the US limiting some ortho-phthalate plasticizers. In June 2017, European Union further restricted the use of four phthalates. The Socio-Economic Analysis Committee of the European Chemicals Agency voted to restrict most uses of the chemicals under the EU's Registration, Evaluation, Authorisation & Restriction of Chemicals (REACH) law. As phthalates are considered harmful to health and the environment, processors of plasticizers are increasingly looking for phthalate-free alternatives

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Eastman Chemical Company
Foodchem International Corporation
A.M Food Chemical Co., Limited
OASIS FINE CHEM
Spectrum Chemical
LANXESS
Merck KGaA
Tianjin Dongda Chemical Group Co., Ltd
I G Petrochemicals Ltd. (IGPL)
Sinteza

Chapter Details of Benzoic Acid Market:
Part 01: Executive Summary
Part 02: Scope of The Report
Part 03: Benzoic Acid Market Landscape
Part 04: Benzoic Acid Market Sizing
Part 05: Benzoic Acid Market Segmentation by Product
Part 06: Five Forces Analysis
Part 07: Customer Landscape
Part 08: Geographic Landscape
Part 09: Decision Framework
Part 10: Drivers and Challenges
Part 11: Market Trends
Part 12: Vendor Landscape
Part 13: Vendor Analysis

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This release was published on openPR.