Global Benzotriazole Market to Reach $798.3 Million by 2030
The global market for Benzotriazole estimated at US$499.7 Million in the year 2023, is expected to reach US$798.3 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 7.7% CAGR and reach US$332.2 Million by the end of the analysis period. Growth in the Coatings Application segment is estimated at 6.3% CAGR for the next 7-year period.
The U.S. Market is Estimated at $131.9 Million, While China is Forecast to Grow at 10.2% CAGR
The Benzotriazole market in the U.S. is estimated at US$131.9 Million in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$187.2 Million by the year 2030 trailing a CAGR of 10.2% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.8% and 6.3% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 4.4% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$113.1 Million by the year 2030.
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