Article -> Article Details
| Title | Benzoic Acid Market Future Progression until 2027 by Size, Share, Growth & Trends |
|---|---|
| Category | Business --> Business Services |
| Meta Keywords | Benzoic Acid Market |
| Owner | Soniya Patil |
| Description | |
| The global benzoic acid market has
been estimated at USD 1.05 billion and is projected to hit USD 1.59 billion by
2027, at a CAGR of 5.4 percent, according to the latest review of Reports and
Results. Benzoic acid is a pure aromatic carboxylic acid which through partial
oxidation of toluene with oxygen, is produced commercially. Benzoic acid is
commonly used in the manufacture of salts, such as potassium benzoate, sodium
benzoate, phenol, and alkyd resins, among others, as an intermediate product.
In their applications, the food and beverage, pharmaceutical and chemical
industries use benzoic acid. Key Players in the market
include:
To Get Sample Copy of
Report visit: https://www.reportsanddata.com/sample-enquiry-form/2126 Benzoic Acid Market:
Segmentation For this report, Reports and Data
has segmented the Benzoic acid market based on applications, end-use, and
region: Application (Revenue in USD Million; Volume in Tons, 2017–2027)
End Use (Revenue in USD Million; Volume in Tons, 2017–2027)
Region (Revenue in USD Million; Volume in Tons, 2017–2027)
Benzoic acid consumption is
comparatively higher in the Asia Pacific region. The market is driven by
increasing demand for sodium and potassium benzoate here. In India and China,
per capita plastic consumption is very high, increasing the use of plasticizers
and thus boosting the demand for benzoic acid. Benzoic acid is used in the food
& beverage industry in the manufacture of preservatives that keep food
fresh for longer. Rising demand around the globe for frozen food products &
beverages fuels consumer demand. To get a Discount on the
Market Report, Click @ https://www.reportsanddata.com/discount-enquiry-form/2126 Sodium benzoate is a significant
application segment, holding the largest share of 42.8% of the market for
benzoic acid. As in acidic foods such as salad dressings, sodium benzoate is
commonly used in vinegar and carbonated beverages, such as acetic acid. A large number of pharmaceutical
companies and new companies make up the benzoic acid industry, which makes the
market quite fragmented in nature. In addition, due to the availability of
research funding and the favourable regulatory scenario for external medicine
production, new entrants in the industry have an excellent opportunity to enter
the market for benzoic acid. The benzoic acid market is
structured and in their long-term growth strategies, major players in this
market aim to absorb small players. Small-kay players, however are planning to
invest in R&D to implement novel benzoic acid applications. Regulations limiting the willful
use of benzoic acid in packaged food products and drinks are barriers to the
growth of the benzoic acid market, as unnecessary intake of benzoic acid can
affect the lungs and digestive tract. In the Asia Pacific region, the
demand for benzoic acid is rising at a CAGR of 4 percent, followed by North
America with 8.5 percent and Europe with 7.2 percent. The market was dominated
by Asia-Pacific and accounted for over 41 percent of the market share. During
the forecast period, the area is expected to register significant growth. The
rise is attributed to an improvement in per-capita disposable income prices,
with patterns changing. North America is seeing steady business growth. During
the forecast era, benzoate plasticizers are expected to see substantial demand
in North America. Read More @ https://www.reportsanddata.com/report-detail/benzoic-acid-market Similar Reports – Pentane
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