TAGS: PVC, Plasticizers and Sustainability
The is expected to witness market growth at a rate of 5.3% in the forecast period of 2021 to 2028. It is mainly utilized in the chemical, food and beverage and pharmaceutical sectors.
The demand for plasticizers will provide potential opportunities for the growth of the benzoic acid market in the coming years.
Market Segmentation Based on Application & End-use
The benzoic acid market is segmented based on application and end use. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.
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On the basis of application, the benzoic acid market is segmented into sodium benzoate, potassium benzoate, benzyl benzoate, benzoate plasticizer, alkyd resin, benzoyl chloride, feed additive and others
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On the basis of end use, the benzoic acid market is segmented into chemical industry, food and beverages, pharmaceutical industry and others
The countries covered in the benzoic acid market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (M.E.A.) as a part of Middle East and Africa (M.E.A.), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific Dominates Benzoic Acid Market
Asia-Pacific dominates the benzoic acid market due to the increase in the consumption of benzoic acid. Furthermore, the growing in the in per-capita disposable income will further boost the growth of the benzoic acid market in the region during the forecast period.
North America is projected to observe significant amount of growth in the benzoic acid market due to the replacement of benzoate plasticizers for phthalate plasticizers due to stringent government regulations. Moreover, the rise in the need for phthalate plasticizers is further anticipated to propel the growth of the benzoic acid market in the region in the coming years.
The major players covered in the benzoic acid market report are Emerald Performance Materials, Novaphene Specialities Private Limited, DOW, DuPont, Apollo Scientific Ltd, HuangshiTaihua Industry, Shri Hari Chemicals, Sinteza S.A, Chemcrux Enterprises Ltd, among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (M.E.A.), and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Source: Data Bridge Market Research