Benzoic Acid Market 2022 Analysis by Latest Trends, Future Growth And Keyplayers
Benzoic acid is a carboxylic acid with various utilitarian characteristics, including antifungal and antibacterial credits, which have made it famous in various end-use applications. Benzoic acid is normally found in a few organic products, including plums, prunes, cranberries, and raspberries, and is essentially utilized in the food and refreshment, compound, and drug businesses.
Benzoic acid is a lackluster and glasslike sweet-smelling carboxylic acid. Benzoic was at first separated from the gum of a tree that had a place with the Styrax class. Benzoic acid is widely utilized for safeguarding food items in the food and refreshment industry. It helps in controling the development of growths and microbes. Benzoic acid is likewise utilized as a substance reagent.
ChemIntel360’s global Benzoic Acid market study is a 190 slide report containing in-depth analysis on historical and forecasted spending and consumption patterns in the sector. We offer granular value and volume data from a global, regional, applications, and end-use industry perspective. The industry is expected to grow at a CAGR of 2.7% during the forecast period mainly due to growing demand of the chemical as a preservative from food and beverages industry.
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Scope
This study contains global and regional market size data - value and volume. The numbers are broken down by application (Benzoates, Benzoyl Chloride, Benzoate Plasticizer, Alkyd Resin, Animal Feed Additive, and Others), by end use (Food, Chemical, Pharmaceutical, and Others). The historical period runs through 2015-2020 and the forecasted period from 2021-2026.
Market Overview
The global Benzoic Acid market, which grew from US$X.X billion in 2015 to US$X.X billion in 2019, dropped marginally to US$1.03 billion in 2020, due to the ongoing COVID-19 pandemic. Spending is expected to recover in 2021 to value US$X.X billion and increase to US$X.X billion in 2026 at a CAGR of X.X%. Cumulatively the market is expected to value US$X.X billion during the forecast period as compared to US$X.X billion during the historical period.
Regional Analysis
The benzoic acid market forecast is estimated based on the analysis of different regions as well. These sections include North America, Latin America, Europe, Asia Pacific, Middle East and Africa. The forecast is further sub-segmented into 18 countries of these continents.
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Key Players
The “Global Benzoic Acid Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Emerald Performance Materials, Wuhan Youji Industries Co., Tianjin Dongda Chemical Group, Liao Ning Huayi Chemical Industry & Commerce Co, Huangshi Taihua Industry, Sinteza S.A., Chemcrux Enterprises Ltd, Emerald Kalama Chemical, Tianjin Dongda Chemical Group. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.
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ChemIntel360, part of AgileIntel’s broader research offering, provides an integrated portfolio of quantitative and qualitative research reports on the chemicals sector. Our studies make use of credible market intelligence.
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