Benzoic Acid, a crystalline compound, occurs naturally in various plants. Used as a food preservative, it prevents microbial growth. Its chemical formula, C7H6O2, showcases its aromatic nature. This compound exhibits antimicrobial properties and finds application in pharmaceuticals, cosmetics, and industrial settings. It’s synthesized from toluene or benzene oxidation, showcasing its versatility in multiple industries.
As per the recent research conducted by a leading market insights provider FMI, the global Benzoic Acid market size will expand at a healthy CAGR over the forecast period between 2022 and 2032. The aim of this study is to analyze key market dynamics affecting the sales of Benzoic Acid and provide vital insights to business owners to get benefited from forthcoming opportunities.
The report conducts an in-depth analysis into factors affecting the change in consumer behavior and purchasing patterns. It highlights the key growth prospects for the demand and sales across seven major regions. It also provides refines sales projections and assist market players in identifying the remunerative segments among the verticals.
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Upsurge in the Trend of Green Chemistry to Facilitate the Growth in the Benzoic Acid Market
Governments of several countries are emphasizing on implementing regulations on chemicals that are hazardous for environment, owing to the rising concerns regarding environment sustainability. Hence, growing trend of green chemistry or sustainable chemistry is being witnessed across the chemical industry.
Citing this trend, chemical manufacturers are reviewing their business strategies and shifting their focus towards adopting eco-friendly practices for the production of sustainable alternatives or less toxic chemicals. This is expected to favor the growth in the Benzoic Acid market.
Key Benzoic Acid Market Takeaways and Projections
- The US will lead the North America Benzoic Acid market, projecting the fastest growth in the region between forecast period
- Germany will collectively hold the largest share in the Europe market over the assessment period.
- India will emerge as a highly remunerative market in South Asia, contributing significant revenue share in the region through forecast period.
- China will dominate the East Asia market, accounting for the largest demand share during the forecast period.
- In terms of segments, will hold the lion’s share in the market, expanding at a robust CAGR during the next ten years.
Competitive Landscape Analysis
The survey offers insights into critical trends and opportunities across technology industry and studies their impact on demand-supply forces in the Benzoic Acid market. It also profiles a list of prominent companies including
- Emerald Kalama
- Novaphene
- Huangshi Taihua Industry
- Shri Hari Chemicals
- Chemcrux Enterprises Ltd
- Sinteza S.A
- Wuhan Youji Industries
- Fushimi
- San Fu
- Huayin Jinqiancheng
- Nantong Haiers
- Merck KGaA
- Chemcrux Enterprises Ltd
- Emerald Performance Materials
- I G Petrochemicals Ltd.
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Key Segments Profiled in the Benzoic Acid Industry Survey
By Production Method:
- Grignard reagents
- Friedel-Crafts reaction
By Application:
- Food Preservatives
- Corrosive Inhibitors
- Alkyd Resins
- Synthesis Intermediates
- Plasticizer
- Feed Additives
- Others
By End-use:
- Chemical Industry
- Food & Beverages
- Cosmetics and Personal Care
- Pharmaceutical Industry
By Region:
- North America
- Latin America
- Europe
- South Asia Pacific
- East Asia
- Middle East & Africa
Why Buy FMI’s Report?
- Extensive analysis on high growth niche markets across major regions
- Detailed assessment on key segments and sub-segments
- Recent and upcoming strategies tracked of manufacturers for the Benzoic Acid market
- Reliable information on new product launches, technological advancements, and more
- Valuable insights on the impact of regulatory framework on the global Benzoic Acid market
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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