Global Benzophenone Market to Reach $597.1 Million by 2030
The global market for Benzophenone estimated at US$375.2 Million in the year 2023, is expected to reach US$597.1 Million by 2030, growing at a CAGR of 6.9% over the analysis period 2023-2030. Plastics Application, one of the segments analyzed in the report, is expected to record a 7.6% CAGR and reach US$233.7 Million by the end of the analysis period. Growth in the Coatings Application segment is estimated at 6.5% CAGR for the next 7-year period.
The U.S. Market is Estimated at $97.7 Million, While China is Forecast to Grow at 10.4% CAGR
The Benzophenone market in the U.S. is estimated at US$97.7 Million in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$144.2 Million by the year 2030 trailing a CAGR of 10.4% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4% and 5.6% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 4.9% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$86 Million by the year 2030.
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