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Benzoic Acid Market by Applications (Benzoates, Benzoate plasticizers, Benzoyl Chloride, Alkyd Resins, and Animal Feed Additive) and by End-use Industry (Food & Beverages, Chemical, and Pharmaceutical): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2024

Published Date: 31-Aug-2018 Category: Chemical & Materials Report Format : PDF Pages: 110 Report Code: ZMR-3306 Status : Published

Global benzoic acid market expected to reach USD 1,376 million in 2024, growing at a CAGR of 5.3% between 2018 and 2024. Benzoic acid is an odorless chemical, which is used as a chemical reagent. It is extensively used as an additive to obstruct the growth of fungus and bacteria in the food & beverages industry.

Description

The report covers forecast and analysis for the benzoic acid market on a global and regional level. The study provides historical data from 2015 to 2017 along with a forecast from 2018 to 2024 based on revenue and volume. The study includes major driving forces and restraints for the benzoic acid market along with the impact they have on the demand over the forecast period. Furthermore, the study also provides the major avenues of global benzoic acid market.

The global benzoic acid market study also comprises detailed value chain analysis for providing a comprehensive view of the market. Moreover, the study also includes Porter’s Five Forces model for benzoic acid, to understand the competitive landscape of the global market. The study includes a market attractiveness analysis of all the segments related to the market.

Global Benzoic Acid Market

The study provides a significant view of the global benzoic acid market by classifying it into the application, end-use industry, and region segmentation. These segments have been estimated and forecasted with the future and past trends. On the basis of the application segment, the report has been segmented into benzoates, benzoate plasticizers, benzoyl chloride, alkyd resins, and animal feed additive. The key end-use industries in the report have been segmented into food & beverages, chemical, and pharmaceutical. The regional segmentation includes the Middle East & Africa, Asia Pacific, Europe, Latin America, and North America. Furthermore, it is divided into major countries such as the U.S., the UK, Germany, France, China, Japan, India, and Brazil.

Major vendors of global benzoic acid market include Emerald Performance Materials, Tianjin Dongda Chemical Group, Wuhan Youji Industries Co., Liao Ning Huayi Chemical Industry & Commerce Co., Ganesh Benzoplast Limited, Shri Hari Chemicals, Hebei Smart Chemicals Co. Ltd., Merck Group, Novaphene Specialties Pvt. Ltd., Chemcrux Enterprises, Apollo Scientific, Shree Chemopharma Ankleshwar Pvt. Ltd., and Clarion Drugs Ltd., among others.

This report segments the global benzoic acid market as follows:

Global Benzoic Acid Market: Application Analysis

  • Benzoates
  • Benzoate plasticizers
  • Benzoyl Chloride
  • Alkyd Resins
  • Animal Feed Additive

Global Benzoic Acid Market: End-Use Industry Analysis

  • Food & Beverages
  • Chemical
  • Pharmaceutical

Global Benzoic Acid Market: Regional Analysis

  • North America
    • The U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • Middle East and Africa

Table Of Content

  • Chapter 1. Introduction
    • 1.1. Report description
      • 1.1.1. Objective
      • 1.1.2. Target Audience
      • 1.1.3. Unique Selling Proposition (USP) & Offerings
    • 1.2. Research scope
    • 1.3. Market Research Methodology
      • 1.3.1. Level 1: Primary Research
      • 1.3.2. Level 2: Secondary Research
      • 1.3.3. Level 3: Data Validation and Expert Panel Assessment
  •  
  • Chapter 2. Executive Summary
    • 2.1. Global Benzoic Acid Market, 2015 - 2024 (Kilotons)(USD Million)
    • 2.2. Global Benzoic Acid Market: Snapshot
  •  
  • Chapter 3. Benzoic Acid- Market Dynamics
    • 3.1. Introduction
      • 3.1.1. Classification of Benzoic Acid
      • 3.1.2. Key Trend Analysis
    • 3.2. Value Chain Analysis
    • 3.3. Market Drivers
      • 3.3.1. Drivers of Global Benzoic Acid Market: Impact Analysis
    • 3.4. Market Restraints
      • 3.4.1. Restraints For Global Benzoic Acid Market: Impact Analysis
    • 3.5. Opportunities
    • 3.6. Porter's Five Forces Analysis
    • 3.7. Attractiveness Investment Proposition
      • 3.7.1. Market Attractiveness Analysis by Application Segment
      • 3.7.2. Market Attractiveness Analysis by End-Use Industry Segment
      • 3.7.3. Market Attractiveness Analysis by Region Segment
  •  
  • Chapter 4. Global Benzoic Acid Market - Competitive Landscape
    • 4.1. Company market share analysis, 2017 (subject to data availability)
    • 4.2. Strategic Development
      • 4.2.1. Acquisitions & Mergers
      • 4.2.2. New Applications Launch
      • 4.2.3. Agreements, Partnerships, Collaborations and Joint Ventures
    • 4.3. Research and Development, Applications and Regional Expansion
  •  
  • Chapter 5. Global Benzoic Acid Market - Application Analysis
    • 5.1. Benzoic Acid Market: Application Segment Analysis
      • 5.1.1. Global Benzoic Acid Market share By Application Segment, 2017 - 2024
    • 5.2. Benzoates
      • 5.2.1. Overview
      • 5.2.2. Global Benzoic Acid Market for Benzoates, 2015 - 2024, (Kilotons) (USD Million)
    • 5.3. Benzoate Plasticizers
      • 5.3.1. Overview
      • 5.3.2. Global Benzoic Acid Market for Benzoate Plasticizers, 2015 - 2024, (Kilotons) (USD Million)
    • 5.4. Benzoyl Chloride
      • 5.4.1. Overview
      • 5.4.2. Global Benzoic Acid Market for Benzoyl Chloride, 2015 - 2024, (Kilotons) (USD Million)
    • 5.5. Benzoyl Chloride
      • 5.5.1. Overview
      • 5.5.2. Global Benzoic Acid Market for Benzoyl Chloride, 2015 - 2024, (Kilotons) (USD Million)
    • 5.6. Animal Feed Additive
      • 5.6.1. Overview
      • 5.6.2. Global Benzoic Acid Market for Animal Feed Additive, 2015 - 2024, (Kilotons) (USD Million)
  •  
  • Chapter 6. Global Benzoic Acid Market: End-Use Industry Analysis
    • 6.1. Global Benzoic Acid Market: End-Use Industry Overview
      • 6.1.1. Global Benzoic Acid Market Volume Share by End-Use Industry, 2017 And 2024
    • 6.2. Food & Beverages
      • 6.2.1. Overview
      • 6.2.2. Global Benzoic Acid Market by Food & Beverages, 2015 - 2024 (Kilotons) (USD Million)
    • 6.3. Chemical
      • 6.3.1. Overview
      • 6.3.2. Global Benzoic Acid Market by Chemical, 2015 - 2024 (Kilotons) (USD Million)
    • 6.4. Pharmaceutical
      • 6.4.1. Overview
      • 6.4.2. Global Benzoic Acid Market by Pharmaceutical, 2015 - 2024 (Kilotons) (USD Million)
  •  
  • Chapter 7. Global Benzoic Acid Market: Regional Analysis
    • 7.1. Global Benzoic Acid Market: Regional overview
      • 7.1.1. Global Benzoic Acid Market Volume Share by Region, 2017 and 2024
    • 7.2. North America
      • 7.2.1. Overview
      • 7.2.2. North America Benzoic Acid Market Volume, By Application, 2015 - 2024, (Kilotons)
      • 7.2.3. North America Benzoic Acid Market Revenue, By Application, 2015 - 2024, (USD Million)
      • 7.2.4. North America Benzoic Acid Market Volume, By End-Use Industry, 2015 - 2024, (Kilotons)
      • 7.2.5. North America Benzoic Acid Market Revenue, By End-Use Industry, 2015 - 2024, (USD Million)
      • 7.2.6. U.S.
        • 7.2.6.1. U.S. Benzoic Acid Market Volume, By Application, 2015 - 2024, (Kilotons)
        • 7.2.6.2. U.S. Benzoic Acid Market Revenue, By Application, 2015 - 2024, (USD Million)
        • 7.2.6.3. U.S. Benzoic Acid Market Volume, By End-Use Industry, 2015 - 2024, (Kilotons)
        • 7.2.6.4. U.S. Benzoic Acid Market Revenue, By End-Use Industry, 2015 - 2024, (USD Million)
    • 7.3. Europe
      • 7.3.1. Overview
      • 7.3.2. Europe Benzoic Acid Market Volume, By Application, 2015 - 2024 (Kilotons)
      • 7.3.3. Europe Benzoic Acid Market Revenue, By Application, 2015 - 2024 (USD Million)
      • 7.3.4. Europe Benzoic Acid Market Volume, By End-Use Industry, 2015 - 2024 (Kilotons)
      • 7.3.5. Europe Benzoic Acid Market Revenue, By End-Use Industry, 2015 - 2024 (USD Million)
      • 7.3.6. UK
        • 7.3.6.1. UK Benzoic Acid Market Volume, By Application, 2015 - 2024, (Kilotons)
        • 7.3.6.2. UK Benzoic Acid Market Revenue, By Application, 2015 - 2024, (USD Million)
        • 7.3.6.3. UK Benzoic Acid Market Volume, By End-Use Industry, 2015 - 2024, (Kilotons)
        • 7.3.6.4. UK Benzoic Acid Market Revenue, By End-Use Industry, 2015 - 2024, (USD Million)
      • 7.3.7. France
        • 7.3.7.1. France Benzoic Acid Market Volume, By Application, 2015 - 2024, (Kilotons)
        • 7.3.7.2. France Benzoic Acid Market Revenue, By Application, 2015 - 2024, (USD Million)
        • 7.3.7.3. France Benzoic Acid Market Volume, By End-Use Industry, 2015 - 2024, (Kilotons)
        • 7.3.7.4. France Benzoic Acid Market Revenue, By End-Use Industry, 2015 - 2024, (USD Million)
      • 7.3.8. Germany
        • 7.3.8.1. Germany Benzoic Acid Market Volume, By Application, 2015 - 2024, (Kilotons)
        • 7.3.8.2. Germany Benzoic Acid Market Revenue, By Application, 2015 - 2024, (USD Million)
        • 7.3.8.3. Germany Benzoic Acid Market Volume, By End-Use Industry, 2015 - 2024, (Kilotons)
        • 7.3.8.4. Germany Benzoic Acid Market Revenue, By End-Use Industry, 2015 - 2024, (USD Million)
    • 7.4. Asia Pacific
      • 7.4.1. Overview
      • 7.4.2. Asia Pacific Benzoic Acid Market Volume, By Application, 2015 - 2024 (Kilotons)
      • 7.4.3. Asia Pacific Benzoic Acid Market Revenue, By Application, 2015 - 2024 (USD Million)
      • 7.4.4. Asia Pacific Benzoic Acid Market Volume, By End-Use Industry, 2015 - 2024 (Kilotons)
      • 7.4.5. Asia Pacific Benzoic Acid Market Revenue, By End-Use Industry, 2015 - 2024 (USD Million)
      • 7.4.6. China
        • 7.4.6.1. China Benzoic Acid Market Volume, By Application, 2015 - 2024, (Kilotons)
        • 7.4.6.2. China Benzoic Acid Market Revenue, By Application, 2015 - 2024, (USD Million)
        • 7.4.6.3. China Benzoic Acid Market Volume, By End-Use Industry, 2015 - 2024, (Kilotons)
        • 7.4.6.4. China Benzoic Acid Market Revenue, By End-Use Industry, 2015 - 2024, (USD Million)
      • 7.4.7. Japan
        • 7.4.7.1. Japan Benzoic Acid Market Volume, By Application, 2015 - 2024, (Kilotons)
        • 7.4.7.2. Japan Benzoic Acid Market Revenue, By Application, 2015 - 2024, (USD Million)
        • 7.4.7.3. Japan Benzoic Acid Market Volume, By End-Use Industry, 2015 - 2024, (Kilotons)
        • 7.4.7.4. Japan Benzoic Acid Market Revenue, By End-Use Industry, 2015 - 2024, (USD Million)
      • 7.4.8. India
        • 7.4.8.1. India Benzoic Acid Market Volume, By Application, 2015 - 2024, (Kilotons)
        • 7.4.8.2. India Benzoic Acid Market Revenue, By Application, 2015 - 2024, (USD Million)
        • 7.4.8.3. India Benzoic Acid Market Volume, By End-Use Industry, 2015 - 2024, (Kilotons)
        • 7.4.8.4. India Benzoic Acid Market Revenue, By End-Use Industry, 2015 - 2024, (USD Million)
    • 7.5. Latin America
      • 7.5.1. Overview
      • 7.5.2. Latin America Benzoic Acid Market Volume, By Application, 2015 - 2024 ( Kilotons)
      • 7.5.3. Latin America Benzoic Acid Market Revenue, By Application, 2015 - 2024 (USD Million)
      • 7.5.4. Latin America Benzoic Acid Market Volume, By End-Use Industry, 2015 - 2024 ( Kilotons)
      • 7.5.5. Latin America Benzoic Acid Market Revenue, By End-Use Industry, 2015 - 2024 (USD Million)
      • 7.5.6. Brazil
        • 7.5.6.1. Brazil Benzoic Acid Market Volume, By Application, 2015 - 2024, ( Kilotons)
        • 7.5.6.2. Brazil Benzoic Acid Market Revenue, By Application, 2015 - 2024, (USD Million)
        • 7.5.6.3. Brazil Benzoic Acid Market Volume, By End-Use Industry, 2015 - 2024, ( Kilotons)
        • 7.5.6.4. Brazil Benzoic Acid Market Revenue, By End-Use Industry, 2015 - 2024, (USD Million)
    • 7.6. Middle East and Africa
      • 7.6.1. Overview
      • 7.6.2. Middle East and Africa Benzoic Acid Market Volume, By Application, 2015 - 2024 ( Kilotons)
      • 7.6.3. Middle East and Africa Benzoic Acid Market Revenue, By Application, 2015 - 2024 (USD Million)
      • 7.6.4. Middle East and Africa Benzoic Acid Market Volume, By End-Use Industry, 2015 - 2024 ( Kilotons)
      • 7.6.5. Middle East and Africa Benzoic Acid Market Revenue, By End-Use Industry, 2015 - 2024 (USD Million)
  •  
  • Chapter 8. Company Profiles
    • 8.1. Emerald Performance Materials
      • 8.1.1. Company Overview
      • 8.1.2. Financials
      • 8.1.3. Product Portfolio
      • 8.1.4. Business Strategy
      • 8.1.5. Recent Developments
    • 8.2. Tianjin Dongda Chemical Group
      • 8.2.1. Company Overview
      • 8.2.2. Financials
      • 8.2.3. Product Portfolio
      • 8.2.4. Business Strategy
      • 8.2.5. Recent Developments
    • 8.3. Wuhan Youji Industries Co.
      • 8.3.1. Company Overview
      • 8.3.2. Financials
      • 8.3.3. Product Portfolio
      • 8.3.4. Business Strategy
      • 8.3.5. Recent Developments
    • 8.4. Liao Ning Huayi Chemical Industry & Commerce Co.
      • 8.4.1. Company Overview
      • 8.4.2. Financials
      • 8.4.3. Product Portfolio
      • 8.4.4. Business Strategy
      • 8.4.5. Recent Developments
    • 8.5. Ganesh Benzoplast Limited
      • 8.5.1. Company Overview
      • 8.5.2. Financials
      • 8.5.3. Product Portfolio
      • 8.5.4. Business Strategy
      • 8.5.5. Recent Developments
    • 8.6. Shri Hari Chemicals
      • 8.6.1. Company Overview
      • 8.6.2. Financials
      • 8.6.3. Product Portfolio
      • 8.6.4. Business Strategy
      • 8.6.5. Recent Developments
    • 8.7. Hebei Smart Chemicals Co. Ltd.
      • 8.7.1. Company Overview
      • 8.7.2. Financials
      • 8.7.3. Product Portfolio
      • 8.7.4. Business Strategy
      • 8.7.5. Recent Developments
    • 8.8. Merck Group
      • 8.8.1. Company Overview
      • 8.8.2. Financials
      • 8.8.3. Product Portfolio
      • 8.8.4. Business Strategy
      • 8.8.5. Recent Developments
    • 8.9. Novaphene specialties pvt ltd
      • 8.9.1. Company Overview
      • 8.9.2. Financials
      • 8.9.3. Product Portfolio
      • 8.9.4. Business Strategy
      • 8.9.5. Recent Developments
    • 8.10. Chemcrux Enterprises
      • 8.10.1. Company Overview
      • 8.10.2. Financials
      • 8.10.3. Product Portfolio
      • 8.10.4. Business Strategy
      • 8.10.5. Recent Developments
    • 8.11. Apollo Scientific
      • 8.11.1. Company Overview
      • 8.11.2. Financials
      • 8.11.3. Product Portfolio
      • 8.11.4. Business Strategy
      • 8.11.5. Recent Developments
    • 8.12. Shree Chemopharma Ankleshwar Pvt. Ltd
      • 8.12.1. Company Overview
      • 8.12.2. Financials
      • 8.12.3. Product Portfolio
      • 8.12.4. Business Strategy
      • 8.12.5. Recent Developments
    • 8.13. Clarion Drugs Ltd
      • 8.13.1. Company Overview
      • 8.13.2. Financials
      • 8.13.3. Product Portfolio
      • 8.13.4. Business Strategy
      • 8.13.5. Recent Developments

Methodology

Free Analysis

Benzoic acid (C7H6O2, CAS NO. 65-85-0) is a form of carboxylic acid. It is a colorless chemical which is crystalline in nature and soluble in water. Benzoic acid is extensively used to manufacture its derivatives such as sodium benzoate and potassium benzoate. 

The global benzoic acid market is expected to grow at a substantial rate within the forecast period. The growing demand for food preservatives from the food and beverage sector in emerging economies fuels the growth of the market. Furthermore, increasing demand in the packaging industries for the benzoic acid is expected to be a major driver for the global benzoic acid market within the forecast period. Increasing population, growing disposable income, and changing lifestyle also leads to an increase in the growth of the benzoic acid market. Benzoic acid is also used in the manufacturing of benzoate plasticizers, benzoates, benzoyl chloride, alkyd resins, and animal feed additive. Stringent regulation in developed countries has restricted the growth of alkyd resins; as a result, it is hampering the benzoic acid market growth. However, adverse health effects associated with benzoic acid may hinder the market in the coming years. In addition, its prolonged usage and exposure can harm the lungs and digestive tracts. As there is an increased demand for the benzoic acid from industrial, chemical, and food preservation sectors its demand is expected to increase in the forecast period. Nonetheless, product innovation and emerging market in the Asia Pacific is likely to open new avenues for the major players of the market during the years to come.

Global Benzoic Acid Market

The global benzoic acid market has been segmented on the basis of application, end-use industry, and region. On the basis of application, the benzoic acid market is classified into benzoate plasticizers, benzoates, benzoyl chloride, alkyd resins and animal feed additive. Benzoates segment is anticipated to account for the largest share for the benzoic acid market in the forecast period. 
 
Based on end-use industry, the global benzoic acid market is mainly segmented into food & beverages, chemical, and pharmaceutical. In terms of value, the pharmaceutical segment is anticipated to grow at the highest CAGR in the forecast period owing to increasing demand from emerging economies of the Asia Pacific and Latin American regions. Inorganic lubricants were the leading application segment of global benzoic acid market in 2017. The usage of benzoic acid is expected to increase in the food & beverages sector as the consumer are moving towards the adoption of convenience food and ready to drink (RTD) beverages across the globe. This factor is expected to be the major driver for the growth of the benzoic acid market. In the pharmaceutical segment, benzoic acid is used as an antifungal agent, antimicrobial preservative, and as a tablet & capsule lubricant. It is very effective in the prevention of bacterial infection. Hence, the demand for the benzoic acid will increase in the pharmaceutical sector in the coming years.

In terms of geography, the benzoic acid market has been classified into  North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2017, Asia Pacific is estimated to be the largest market for benzoic acid. This growth is mainly attributed to the rising demand for benzoic acid from various countries such as China, India, Japan, and South Korea. Moreover, Asia Pacific is predicted to be the fastest growing market of benzoic acid within the forecast period owing to the increasing demand from the food and beverages sector in the region. The Asia Pacific was followed by North America and Europe in the same year. The market growth rate in North America and Europe is anticipated to stay comparatively superior in the forecast period.

Some of the major players of the global benzoic acid market include Emerald Performance Materials, Tianjin Dongda Chemical Group, Wuhan Youji Industries Co., Liao Ning Huayi Chemical Industry & Commerce Co., Ganesh Benzoplast Limited, Shri Hari Chemicals, Hebei Smart Chemicals Co. Ltd., Merck Group, Novaphene Specialties Pvt Ltd., Chemcrux Enterprises, Apollo Scientific, Shree Chemopharma Ankleshwar Pvt. Ltd., and Clarion Drugs Ltd., among others.

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