Benzoic Acid Market Growth and Trends, Analysis And Forecast to 2032
Posted by ramacharitbrc on November 14th, 2023
The Benzoic Acid Global Market Report 2023, provides comprehensive information on the benzoic acid market across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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https://www.thebusinessresearchcompany.com/report/benzoic-acid-global-market-report
The global benzoic acid market size is expected to grow from .24 billion in 2022 to .31 billion in 2023 at a compound annual growth rate (CAGR) of 6.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global benzoic acid market size is expected to reach .61 billion in 2027 at a CAGR of 5.3%.
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Product innovation is a popular trend in the benzoic acid market. Major companies operating in the benzoic acid market are focused on product innovations to sustain their position in the market. For instance, in June 2022, Menno Chemie GmbH & Co KG., a Germany-based chemical wholesaler company, launched A-QUASAN, a novel disinfectant formulated with benzoic acid for all sectors of fresh produce processing and the disinfection of drinking water systems. A-QUASAN is a highly effective at low concentrations against a wide spectrum of pathogens. Benzoic acid's presence in the product and its strong biodegradability leaves no significant residues, and its performance stays exceptionally stable for up to 16 hours.
The benzoic acid market is segmented:
1) By Form: Powder, Granules
2) By Application: Sodium Benzoate, Potassium Benzoate, Benzyl Benzoate, Benzoate Plasticizers, Alkyd Resin, Benzoyl Chloride, Feed Additives, Other Applications
3) By End Use: Food And Beverages, Chemical Industry, Pharmaceutical Industry, Other End Uses
North America was the largest region in the benzoic acid market in 2022.
Top 5 Major Key Players Are:
Emerald Kalama LLC
IG Petrochemicals Ltd
Merck KGaA
Chemcrux Enterprises Ltd
The Chemical Company
Table Of Contents
1. Executive Summary
2. Benzoic Acid Market Characteristics
3. Benzoic Acid Market Trends And Strategies
4. Benzoic Acid Market - Macro Economic Scenario
5. Benzoic Acid Market Size And Growth
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26. Africa Benzoic Acid Market
27. Benzoic Acid Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Benzoic Acid Market
29. Benzoic Acid Market Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company is a market intelligence firm that pioneers in market, company, and consumer research. TBRC’s specialist consultants are located globally and are experts in a wide range of industries that include healthcare, manufacturing, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries. Through the report businesses can gain a thorough understanding of the market’s size, growth rate, major drivers and leading players.
