Global Benzoic Acid Market 2024-2028
Global Benzoic Acid Market 2024-2028
The benzoic acid market is forecasted to grow by USD 245.5 mn during 2023-2028, accelerating at a CAGR of 6.94% during the forecast period. The report on the benzoic acid market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by high demand for benzoic acid from food and beverage industry, extensive use of benzoic acid in apac, and increasing demand for non-phthalate plasticizers.
Technavio's benzoic acid market is segmented as below:
By Application
- Benzoates
- Benzoate plasticizers
- Alkyd resins
- Others
By Geographical Landscape
- APAC
- North America
- Europe
- South America
- Middle East and Africa
This study identifies the rising demand for processed and packaged food as one of the prime reasons driving the benzoic acid market growth during the next few years. Also, growing demand from diversified applications and advances in the recovery of benzoic acid will lead to sizable demand in the market.
The report on the benzoic acid market covers the following areas:
- Benzoic acid market sizing
- Benzoic acid market forecast
- Benzoic acid market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading benzoic acid market vendors that include Aarti Industries Ltd., Chemcrux Enterprises Ltd., Eastman Chemical Co., FUSHIMI Pharmaceutical Co. Ltd., Ganesh Benzoplast Ltd., GFS Chemicals Inc., Hemadri Chemicals, IG Petrochemicals Ltd., Merck and Co. Inc., MP Biomedicals Inc., Navyug Pharmachem Pvt. Ltd., Pat Impex, Premier Group Of Industries, Shri Hari Chemicals, Smart Chemicals Group Co. Ltd., Swastik Industries, The Chemical Co., Thermo Fisher Scientific Inc., Tianjin Dongda Chemical Group Co. Ltd, and Velsicol Chemical LLC. Also, the benzoic acid market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher 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 such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.