USD 198.54 million growth in Benzoic Acid Market | 6.0% YOY Growth to be Recorded in 2022 | 17,000 + Technavio Reports

NEW YORK, April 8, 2022 /PRNewswire/ — The benzoic acid market potential growth difference will grow by USD 198.54 million from 2021 to 2026, as per the latest market analysis report by Technavio. The report also identifies the market to witness an accelerating growth momentum at a CAGR of 6.38% during the forecast period. The high demand for benzoic acid from the food and beverage industry is notably driving the benzoic acid market growth, although factors such as health hazards and environmental effects of benzoic acid may impede the market growth. The benzoic acid market report covers insights on major trends, key growth drivers, and challenges impacting the overall growth of the market.

For more information on CAGR and YOY growth rate analysis. Read a Free Sample Report!

Key Segment Highlights

The benzoic acid market is segmented by application (Benzoates, Benzoate plasticizers, Alkyd resins, and Others) and geography (APAC, North America, Europe, South America, Middle East and Africa). 

  • The benzoates application segment held the largest benzoic acid market share in 2021. The segment will continue to account for the largest share throughout the forecast period due to the wide application of sodium and potassium benzoates. It is also used in deodorants, aftershave lotions, and sunscreens to reduce skin irritations and inflammations.
  • 60% of the market’s growth will originate from APAC during the forecast period. China, India, and Japan are the key markets for the benzoic acid market in APAC. The rising demand for packaged and processed foods and drinks will fuel the benzoic acid market growth in APAC over the forecast period.

View Report Outlook for more insights on each contributing segment 

Market Scope Highlights

Technavio categorizes the global benzoic acid market as a part of the global chemicals market. Our report provides extensive information on the value chain analysis for the benzoic acid market, which vendors can leverage to gain a competitive advantage during the forecast period. 

This report presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters.

The benzoic acid market covers the following areas:

Benzoic Acid Market Sizing
Benzoic Acid Market Forecast
Benzoic Acid Market Analysis

Market Landscape

The benzoic acid market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market. Market vendors are focusing more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Companies Mentioned

  • Aarti Industries Ltd.
  • Chemcrux Enterprises Ltd.
  • Eastman Chemical Co.
  • FUSHIMI Pharmaceutical Co. Ltd.
  • Ganesh Benzoplast Ltd.
  • Hemadri Chemicals
  • IG Petrochemicals Ltd.
  • Merck and Co. Inc.
  • MP Biomedicals LLC
  • Navyug Pharmachem Pvt. Ltd.
  • Pat Impex
  • Premier Group Of Industries
  • Shri Hari Chemicals
  • Smart Chemicals Group Co. Ltd.
  • Swastik Industries 
  • The Chemical Co.
  • Tianjin Dongda Chemical Group Co. Ltd
  • Velsicol Chemical LLC
  • GFS Chemicals Inc.
  • Thermo Fisher Scientific Inc.

Speak to our Analysts for tailor made reports on each vendor and their marketing strategies

Related Reports:
Glycolic Acid Market by Application and Geography – Forecast and Analysis 2021-2025

Hypochlorous Acid Market by Product, Application, and Geography – Forecast and Analysis 2021-2025

Benzoic Acid Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 6.38%

Market growth 2022-2026

$ 198.54 million

Market structure

Fragmented

YoY growth (%)

6.0

Regional analysis

APAC, North America, Europe, South America, Middle East and Africa, China, US, India, Germany, UK, and Japan

Performing market contribution

APAC at 60%

Key consumer countries

US, China, India, Japan, Germany, and UK

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Aarti Industries Ltd., Chemcrux Enterprises Ltd., Eastman Chemical Co., FUSHIMI Pharmaceutical Co. Ltd., Ganesh Benzoplast Ltd., Hemadri Chemicals, IG Petrochemicals Ltd., Merck and Co. Inc., MP Biomedicals LLC, Navyug Pharmachem Pvt. Ltd., Pat Impex, Premier Group Of Industries, Shri Hari Chemicals, Smart Chemicals Group Co. Ltd., Swastik Industries , The Chemical Co., Tianjin Dongda Chemical Group Co. Ltd, Velsicol Chemical LLC, GFS Chemicals Inc., and Thermo Fisher Scientific Inc.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Key Topics Covered:

1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
    • Exhibit 06: Executive Summary – Chart on Incremental Growth
    • Exhibit 07: Executive Summary – Data Table on Incremental Growth
    • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 09: Parent market
    • Exhibit 10: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 11: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 12: Market segments
  • 3.3 Market size 2021
  • 3.4 Market outlook: Forecast for 2021-2026
    • Exhibit 13: Chart on Global – Market size and forecast 2021-2026 ($ million)
    • Exhibit 14: Data Table on Global – Market size and forecast 2021-2026 ($ million)
    • Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
    • Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

  • 4.1 Five forces summary
    • Exhibit 17: Five forces analysis – Comparison between 2021 and 2026
  • 4.2 Bargaining power of buyers
    • Exhibit 18: Bargaining power of buyers – Impact of key factors in 2021 and 2026
  • 4.3 Bargaining power of suppliers
    • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
  • 4.4 Threat of new entrants
    • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
  • 4.5 Threat of substitutes
    • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
  • 4.6 Threat of rivalry
    • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
  • 4.7 Market condition
    • Exhibit 23: Chart on Market condition – Five forces 2021 and 2026

5 Market Segmentation by Application

  • 5.1 Market segments
    • Exhibit 24: Chart on Application – Market share 2021-2026 (%)
    • Exhibit 25: Data Table on Application – Market share 2021-2026 (%)
  • 5.2 Comparison by Application
    • Exhibit 26: Chart on Comparison by Application
    • Exhibit 27: Data Table on Comparison by Application
  • 5.3 Benzoates – Market size and forecast 2021-2026
    • Exhibit 28: Chart on Benzoates – Market size and forecast 2021-2026 ($ million)
    • Exhibit 29: Data Table on Benzoates – Market size and forecast 2021-2026 ($ million)
    • Exhibit 30: Chart on Benzoates – Year-over-year growth 2021-2026 (%)
    • Exhibit 31: Data Table on Benzoates – Year-over-year growth 2021-2026 (%)
  • 5.4 Benzoate plasticizers – Market size and forecast 2021-2026
    • Exhibit 32: Chart on Benzoate plasticizers – Market size and forecast 2021-2026 ($ million)
    • Exhibit 33: Data Table on Benzoate plasticizers – Market size and forecast 2021-2026 ($ million)
    • Exhibit 34: Chart on Benzoate plasticizers – Year-over-year growth 2021-2026 (%)
    • Exhibit 35: Data Table on Benzoate plasticizers – Year-over-year growth 2021-2026 (%)
  • 5.5 Alkyd resins – Market size and forecast 2021-2026
    • Exhibit 36: Chart on Alkyd resins – Market size and forecast 2021-2026 ($ million)
    • Exhibit 37: Data Table on Alkyd resins – Market size and forecast 2021-2026 ($ million)
    • Exhibit 38: Chart on Alkyd resins – Year-over-year growth 2021-2026 (%)
    • Exhibit 39: Data Table on Alkyd resins – Year-over-year growth 2021-2026 (%)
  • 5.6 Others – Market size and forecast 2021-2026
    • Exhibit 40: Chart on Others – Market size and forecast 2021-2026 ($ million)
    • Exhibit 41: Data Table on Others – Market size and forecast 2021-2026 ($ million)
    • Exhibit 42: Chart on Others – Year-over-year growth 2021-2026 (%)
    • Exhibit 43: Data Table on Others – Year-over-year growth 2021-2026 (%)
  • 5.7 Market opportunity by Application
    • Exhibit 44: Market opportunity by Application ($ million)

6 Customer Landscape

  • 6.1 Customer landscape overview
    • Exhibit 45: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

  • 7.1 Geographic segmentation
    • Exhibit 46: Chart on Market share by geography 2021-2026 (%)
    • Exhibit 47: Data Table on Market share by geography 2021-2026 (%)
  • 7.2 Geographic comparison
    • Exhibit 48: Chart on Geographic comparison
    • Exhibit 49: Data Table on Geographic comparison
  • 7.3 APAC – Market size and forecast 2021-2026
    • Exhibit 50: Chart on APAC – Market size and forecast 2021-2026 ($ million)
    • Exhibit 51: Data Table on APAC – Market size and forecast 2021-2026 ($ million)
    • Exhibit 52: Chart on APAC – Year-over-year growth 2021-2026 (%)
    • Exhibit 53: Data Table on APAC – Year-over-year growth 2021-2026 (%)
  • 7.4 North America – Market size and forecast 2021-2026
    • Exhibit 54: Chart on North America – Market size and forecast 2021-2026 ($ million)
    • Exhibit 55: Data Table on North America – Market size and forecast 2021-2026 ($ million)
    • Exhibit 56: Chart on North America – Year-over-year growth 2021-2026 (%)
    • Exhibit 57: Data Table on North America – Year-over-year growth 2021-2026 (%)
  • 7.5 Europe – Market size and forecast 2021-2026
    • Exhibit 58: Chart on Europe – Market size and forecast 2021-2026 ($ million)
    • Exhibit 59: Data Table on Europe – Market size and forecast 2021-2026 ($ million)
    • Exhibit 60: Chart on Europe – Year-over-year growth 2021-2026 (%)
    • Exhibit 61: Data Table on Europe – Year-over-year growth 2021-2026 (%)
  • 7.6 South America – Market size and forecast 2021-2026
    • Exhibit 62: Chart on South America – Market size and forecast 2021-2026 ($ million)
    • Exhibit 63: Data Table on South America – Market size and forecast 2021-2026 ($ million)
    • Exhibit 64: Chart on South America – Year-over-year growth 2021-2026 (%)
    • Exhibit 65: Data Table on South America – Year-over-year growth 2021-2026 (%)
  • 7.7 Middle East and Africa – Market size and forecast 2021-2026
    • Exhibit 66: Chart on Middle East and Africa – Market size and forecast 2021-2026 ($ million)
    • Exhibit 67: Data Table on Middle East and Africa – Market size and forecast 2021-2026 ($ million)
    • Exhibit 68: Chart on Middle East and Africa – Year-over-year growth 2021-2026 (%)
    • Exhibit 69: Data Table on Middle East and Africa – Year-over-year growth 2021-2026 (%)
  • 7.8 China – Market size and forecast 2021-2026
    • Exhibit 70: Chart on China – Market size and forecast 2021-2026 ($ million)
    • Exhibit 71: Data Table on China – Market size and forecast 2021-2026 ($ million)
    • Exhibit 72: Chart on China – Year-over-year growth 2021-2026 (%)
    • Exhibit 73: Data Table on China – Year-over-year growth 2021-2026 (%)
  • 7.9 US – Market size and forecast 2021-2026
    • Exhibit 74: Chart on US – Market size and forecast 2021-2026 ($ million)
    • Exhibit 75: Data Table on US – Market size and forecast 2021-2026 ($ million)
    • Exhibit 76: Chart on US – Year-over-year growth 2021-2026 (%)
    • Exhibit 77: Data Table on US – Year-over-year growth 2021-2026 (%)
  • 7.10 India – Market size and forecast 2021-2026
    • Exhibit 78: Chart on India – Market size and forecast 2021-2026 ($ million)
    • Exhibit 79: Data Table on India – Market size and forecast 2021-2026 ($ million)
    • Exhibit 80: Chart on India – Year-over-year growth 2021-2026 (%)
    • Exhibit 81: Data Table on India – Year-over-year growth 2021-2026 (%)
  • 7.11 Germany – Market size and forecast 2021-2026
    • Exhibit 82: Chart on Germany – Market size and forecast 2021-2026 ($ million)
    • Exhibit 83: Data Table on Germany – Market size and forecast 2021-2026 ($ million)
    • Exhibit 84: Chart on Germany – Year-over-year growth 2021-2026 (%)
    • Exhibit 85: Data Table on Germany – Year-over-year growth 2021-2026 (%)
  • 7.12 UK – Market size and forecast 2021-2026
    • Exhibit 86: Chart on UK – Market size and forecast 2021-2026 ($ million)
    • Exhibit 87: Data Table on UK – Market size and forecast 2021-2026 ($ million)
    • Exhibit 88: Chart on UK – Year-over-year growth 2021-2026 (%)
    • Exhibit 89: Data Table on UK – Year-over-year growth 2021-2026 (%)
  • 7.13 Japan – Market size and forecast 2021-2026
    • Exhibit 90: Chart on Japan – Market size and forecast 2021-2026 ($ million)
    • Exhibit 91: Data Table on Japan – Market size and forecast 2021-2026 ($ million)
    • Exhibit 92: Chart on Japan – Year-over-year growth 2021-2026 (%)
    • Exhibit 93: Data Table on Japan – Year-over-year growth 2021-2026 (%)
  • 7.14 Market opportunity by geography
    • Exhibit 94: Market opportunity by geography ($ million)

8 Drivers, Challenges, and Trends

  • 8.1 Market drivers
  • 8.2 Market challenges
  • 8.3 Impact of drivers and challenges
    • Exhibit 95: Impact of drivers and challenges in 2021 and 2026
  • 8.4 Market trends

9 Vendor Landscape

  • 9.1 Overview
  • 9.2 Vendor landscape
    • Exhibit 96: Overview on Criticality of inputs and Factors of differentiation
  • 9.3 Landscape disruption
    • Exhibit 97: Overview on factors of disruption
  • 9.4 Industry risks
    • Exhibit 98: Impact of key risks on business

10 Vendor Analysis

  • 10.1 Vendors covered
    • Exhibit 99: Vendors covered
  • 10.2 Market positioning of vendors
    • Exhibit 100: Matrix on vendor position and classification
  • 10.3 Aarti Industries Ltd.
    • Exhibit 101: Aarti Industries Ltd. – Overview
    • Exhibit 102: Aarti Industries Ltd. – Business segments
    • Exhibit 103: Aarti Industries Ltd. – Key offerings
    • Exhibit 104: Aarti Industries Ltd. – Segment focus
  • 10.4 Chemcrux Enterprises Ltd.
    • Exhibit 105: Chemcrux Enterprises Ltd. – Overview
    • Exhibit 106: Chemcrux Enterprises Ltd. – Business segments
    • Exhibit 107: Chemcrux Enterprises Ltd. – Key offerings
    • Exhibit 108: Chemcrux Enterprises Ltd. – Segment focus
  • 10.5 Eastman Chemical Co.
    • Exhibit 109: Eastman Chemical Co. – Overview
    • Exhibit 110: Eastman Chemical Co. – Business segments
    • Exhibit 111: Eastman Chemical Co. – Key offerings
    • Exhibit 112: Eastman Chemical Co. – Segment focus
  • 10.6 FUSHIMI Pharmaceutical Co. Ltd.
    • Exhibit 113: FUSHIMI Pharmaceutical Co. Ltd. – Overview
    • Exhibit 114: FUSHIMI Pharmaceutical Co. Ltd. – Product / Service
    • Exhibit 115: FUSHIMI Pharmaceutical Co. Ltd. – Key offerings
  • 10.7 Ganesh Benzoplast Ltd.
    • Exhibit 116: Ganesh Benzoplast Ltd. – Overview
    • Exhibit 117: Ganesh Benzoplast Ltd. – Business segments
    • Exhibit 118: Ganesh Benzoplast Ltd. – Key offerings
    • Exhibit 119: Ganesh Benzoplast Ltd. – Segment focus
  • 10.8 Hemadri Chemicals
    • Exhibit 120: Hemadri Chemicals – Overview
    • Exhibit 121: Hemadri Chemicals – Product / Service
    • Exhibit 122: Hemadri Chemicals – Key offerings
  • 10.9 IG Petrochemicals Ltd.
    • Exhibit 123: IG Petrochemicals Ltd. – Overview
    • Exhibit 124: IG Petrochemicals Ltd. – Business segments
    • Exhibit 125: IG Petrochemicals Ltd. – Key offerings
    • Exhibit 126: IG Petrochemicals Ltd. – Segment focus
  • 10.10 Merck and Co. Inc.
    • Exhibit 127: Merck and Co. Inc. – Overview
    • Exhibit 128: Merck and Co. Inc. – Business segments
    • Exhibit 129: Merck and Co. Inc. – Key news
    • Exhibit 130: Merck and Co. Inc. – Key offerings
    • Exhibit 131: Merck and Co. Inc. – Segment focus
  • 10.11 Smart Chemicals Group Co. Ltd.
    • Exhibit 132: Smart Chemicals Group Co. Ltd. – Overview
    • Exhibit 133: Smart Chemicals Group Co. Ltd. – Product / Service
    • Exhibit 134: Smart Chemicals Group Co. Ltd. – Key offerings
  • 10.12 The Chemical Co.
    • Exhibit 135: The Chemical Co. – Overview
    • Exhibit 136: The Chemical Co. – Product / Service
    • Exhibit 137: The Chemical Co. – Key offerings

11 Appendix

  • 11.1 Scope of the report
  • 11.2 Inclusions and exclusions checklist
    • Exhibit 138: Inclusions checklist
    • Exhibit 139: Exclusions checklist
  • 11.3 Currency conversion rates for US$
    • Exhibit 140: Currency conversion rates for US$
  • 11.4 Research methodology
    • Exhibit 141: Research methodology
    • Exhibit 142: Validation techniques employed for market sizing
    • Exhibit 143: Information sources
  • 11.5 List of abbreviations
    • Exhibit 144: List of abbreviations

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/usd-198-54-million-growth-in-benzoic-acid-market–6-0-yoy-growth-to-be-recorded-in-2022–17-000–technavio-reports-301520139.html

SOURCE Technavio

USD 198.54 million growth in Benzoic Acid Market | 6.0% YOY Growth to be Recorded in 2022 | 17,000 + Technavio Reports WeeklyReviewer

PR Newswire Science News

World Reviewer Staff
World Reviewer Staffhttps://weeklyreviewer.com/
The first logical thought has to be "no way". I'm the World Observer! Ill find and share important news all day.

Latest articles

Earnings Disclosure

WeeklyReviewer earns primarily through affiliates and ads. We don’t encourage anyone to click on ads for any other purpose but your own. We recommend products and services often for our readers, and through many we will earn commissions through affiliate programs.

Related articles

WeeklyReviewer