Benzoic Acid Market 2019 | Emerging Trends, Highlights and Challenges Forecast 2023

1
Benzoic Acid Market Research Report - Forecast to
2023
Industry Survey, Growth, Competitive
Landscapeand Forecasts to 2023
2
Benzoic Acid Market Research Report- Forecast to
2023
Benzoic Acid Market - Overview
Benzoic Acid (CAS NO. 65-85-0) is a carboxylic
acid, which is soluble in water, colorless
chemical crystalline in nature. It occur
naturally in many plants and extensively used as
precursor for the production of chemicals like
sodium benzoate, potassium benzoate, benzoyl
chloride, benzoate plasticizers, and alkyd
resins. Salts of benzoic acid are used as a food
preservative to inhibit growth of bacteria and
fungi in the food and beverages industry. The
food and beverages industry is the major end user
of the Benzoic Acid. Other than that, it is also
used as a chemical reagent in the production of
industrial chemicals. Over the past seven years,
the Global Benzoic Acid Market has witnessed a
significant growth and it is anticipated to grow
in the same trend over the forecast period.
Growth in this market is highly credible to the
flourishing food beverage industry, wherein, it
is used as an antifungal agent. Furthermore, it
is used to increase the shelf life of packaged
food products, which has made Benzoic Acid highly
favorable in this industry. This, in turn, has
generated robust demand for Benzoic Acid and
considered as key driver in this market.
Furthermore, rising population, higher income,
and changing psychographics of Asian countries
have also supported the growth of this market. In
chemical industry, it is used for the production
of benzoate plasticizer, benzoyl chloride, and
alkyd resins. Consequently, growing industrial
output anticipated to complement growth of this
market. Stringent regulation in developed
countries has restricted the growth of alkyd
resins, which, in turn, may hamper the benzoic
acid market growth. In addition, adverse health
effects associated with Benzoic Acid such as its
prolonged usage and exposure can harm lungs and
digestive tracts expected to pose as a major
growth barriers in the coming years.
Nevertheless, the Global Benzoic Acid Market is
anticipated to gain growth prospects on account
of demand for industrial chemicals coupled with
food preservation in the coming years.
3
Benzoic Acid Market Research Report- Forecast to
2023
Segmentation
By Production Methods Grignard Reagent and
Friedel-Crafts Reaction among others. By
Applications Food Beverages, Chemicals,
Pharmaceuticals, Plastics and Animal Feed among
others. By Regions North America, Europe, APAC
and the Rest-of-the-World (RoW). Get PDF
Brochure for more Professional Technical
Industry Insights https//www.marketresearchfutur
e.com/reports/benzoic-acid-market-1119
4
Benzoic Acid Market Research Report- Forecast to
2023
Regional Outlook
Asia Pacific accounted for the largest market
share in the Global Benzoic Acid Market owing to
the rapid industrialization, burgeoning FB
industry, and the improved standard of living in
the region backed by the improving economic
conditions in the region. India and China owing
to the increasing per capita income perceive the
growth in the food processing and packaging
sector and in the aerated beverages industry
which substantiates the market growth for Benzoic
Acid in the region. Europe being one of the
largest producers of Benzoic Acid has become a
prominent market witnessing huge accruals. The
North America Benzoic Acid market, on the other
hand, is too growing rapidly due to the stringent
government regulation in this region that is
increasing the uptake of benzoate plasticizers
replacing phthalate plasticizers. The region is
projected to register a modest CAGR over the
assessment years.
5
Benzoic Acid Market Research Report- Forecast to
2023
Major Players in this Research

• Benzoic Acid Market Prominent Players
• Ganesh Benzoplast Limited (India)
• Hemadri Chemicals (India)
• Emerald Performance Materials (U.S.)
• Navyug Pharmachem (P) Ltd. (India)
• Eastman Chemical Company (U.S.)
• Tianjin Dongda Chemical Group Co. Ltd. (China)
• Thermo Fisher Scientific (U.S.)
• GFS Chemicals Inc. (U.S.)
• Wuhan YouJi Industries Company Limited (China)
• Spectrum Chemical Manufacturing Corp. (U.S.)
• MP Biomedicals LLC (U.S.)
• Avantor (U.S.)
• Choice Organochem LLP (India)

Get Sample PDF Illustration _at_ https//www.marketre
searchfuture.com/sample_request/1119
6
ABOUT US
MARKET RESEARCH FUTURE At Market Research Future
(MRFR), we enable our customers to unravel the
complexity of various industries through our
Cooked Research Report (CRR), Half-Cooked
Research Reports (HCRR), Raw Research Reports
(3R), Continuous-Feed Research (CFR), and Market
Research Consulting Services. MRFR team have
supreme objective to provide the optimum quality
market research and intelligence services to our
clients. Our market research studies by products,
services, technologies, applications, end users,
and market players for global, regional, and
country level market segments, enable our clients
to see more, know more, and do more, which help
to answer all their most important questions. In
order to stay updated with technology and work
process of the industry, MRFR often plans
conducts meet with the industry experts and
industrial visits for its research analyst
members. For more information kindly visit
www.marketresearchfuture.com or contact us at
info_at_marketresearchfuture.com Copyright 2018
Market Research Future All Rights Reserved. This
document contains highly confidential information
and is the sole property of Market Research
Future. No part of it may be circulated, copied,
quoted, or otherwise reproduced without the
written approval of Market Research Future.
7
(No Transcript)