Benzoic Acid Market Resarch Report - Industry Analysis, Size, Share and Forecast to 2024 Hexa Research

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1 Benzoic Acid Market Resarch Report - Industry Analysis, Size, Share and Forecast to 2024 Hexa Research Global Benzoic Acid Market is anticipated to exceed 640 kilotons (KT) by 2024 from 480 kilotons in It could expand at over 3.2% CAGR over the forecast period ( ). The Global Benzoic Acid Market stood at around 480 KT in It is anticipated to grow at 3.2% CAGR during the forecast period ( ). The market can exceed 630 KT by The growing foods & beverages industry and demand for preservatives for enhanced shelf life of products are the key drivers. The Benzoic Acid Market in North America and Europe is driven by the growing popularity of RTD ( ready-todrink) beverages and convenience foods. This has boosted the need for packaged food & beverages. This may benefit the global market since benzoic acid acts as a preservative by inhibiting the growth of food pathogens. A type of carboxylic acid, benzoic acid is a colorless crystalline compound. Besides being a food preservative, it is also used in manufacturing insect repellents, plastics, dyes, and others. Moreover, it is a key component in creams, lotions, and ointments. Salts and esters of benzoic acid are known as benzoates. Browse Details of

2 The global Benzoic Acid Market is divided on the basis of methods, applications, end users, and regions. Major methods used in benzoic acid production are Friedel-crafts reaction & chlorination methods, oxidation by hydrolysis, and Grignard reagents. Applications include foods & beverages, plasticizers, animal feed additives, phenol, dibenzoates, alkyd resins, and others. Global phenol demand exceeded 8.5 million tons in This can benefit the global market, as benzoic acid is a key component used in the production of phenol. Foods & beverages was the largest application, accounting for more than 45% of total volumes in It is expected to exhibit around 2.8% CAGR over the forecast period. Plasticizers made from benzoates can grow at a CAGR over 9% in the next eight years. Rising demand of phthalate free plasticizers may favor market growth. Benzoate plasticizers, such as diethylene glycol and triethylene glycol ether can be used as alternatives to phthalate in films, cables, and hoses. But volatile prices of toluene could hinder market demand. End-users include chemicals, plastics, and pharmaceutical industries. Regions covered in the global Benzoic Acid Market are North America, Europe, Asia Pacific, and RoW (Rest of the World). Asia Pacific led the industry in 2014, contributing to over 60% of total volumes. This can be attributed to rising disposable incomes and demand for RTD beverages in India and China. Rising phenol production could further regional growth. China leads the regional market because of high demand for benzoate plasticizers. However, the country mainly produces sodium benzoate and benzoyl chloride. Europe was the second largest market in 2014 contributing to over 20% of the global production. The U.S., a prime region in North America, accounted for more than 10% of the global demand (in terms of volume) during the same year. Major players in the worldwide Benzoic Acid Market are Emerald Kalama, Shree Hari Chemicals Export Ltd., Novaphene, Chemcrux Enterprises Ltd., and Huangshi Taihua Industry Science And Technology Develop Co., Limited. For enhanced production, Emerald Kalama declared that it would establish benzoic acid plants in Rotterdam in the near future. This could add to its production capacity by 100,000 metric tons yearly. The company has also allied with The Chemical Company to distribute its K-Flex plasticizers. This may expand its global reach significantly in the forthcoming years. Browse Related Category Market

3 Table of Content of Benzoic Acid Market 1. Methodology & Scope 1.1 Research Methodology 1.2 Research Scope & Assumptions 1.3 List of Data Sources 2. Executive Summary 2.1 Industry Summary of Benzoic Acid Market 3. Industry Outlook 3.1 Benzoic Acid Market Segmentation 3.2 Benzoic Acid Market Size and Growth Prospects 3.3 Benzoic Acid Market Dynamics 3.4 Key Opportunities Prioritized 3.5 Industry Analysis - Porter's 3.6 Market Share Analysis 3.7 Market PESTEL Analysis, Application Framework 4.1 Benzoic Acid Market share by application, 2016 & Regional Outlook 5.1 North America 5.2 Europe 5.3 Asia Pacific 5.4 Latin America 5.5 MEA (Middle East and Africa) 5.6 RoW (Rest of the World) 6. Competitive Landscape 6.1 Emerald Kalama Company Overview Revenue Analysis Product Benchmarking Strategic Initiatives

4 6.2 Shree Hari Chemicals Export Ltd Company Overview Revenue Analysis Product Benchmarking Strategic Initiatives 6.3 Novaphene Company Overview Revenue Analysis Product Benchmarking Strategic Initiatives 6.4 Chemcrux Enterprises Ltd Company Overview Revenue Analysis Product Benchmarking Strategic Initiatives 6.5 Huangshi Taihua Industry Science And Technology Develop Co. Limited Company Overview Revenue Analysis Product Benchmarking Strategic Initiatives

5 About Us: Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives. Contact Us: Ryan Shaw Hexa Research Felton Office Plaza 6265 Highway 9 Felton, California United States Phone: Website - Visit Our Blog -

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