Global Benzenecarboxylic Acid Market - Segmented by Production Process, Application and Geography - Growth, Trends and Forecast (2018-2023)

  • ID: 4536192
  • Report
  • Region: Global
  • 132 pages
  • Mordor Intelligence
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FEATURED COMPANIES

  • Apollo Scientific
  • Ganesh Benzoplast Limited
  • Novaphene
  • Sinteza S.A
  • Velsicol Chemical LLC
  • MORE
The benzenecarboxylic acid market is expected to register a CAGR of 3.6% during the forecast period (2018 - 2023). The market is growing due to the increase in the consumption of benzoic acid in the food & beverage industries. Furthermore, it is also used as a building block to manufacture many other products, such as alkyd resins.

Increase in Demand for Benzoate Plasticizer

The major market driver is the continuous demand for benzoate plasticizers. Almost 90% of the plasticizers are used in the production of PVC. Phthalate plasticizers are being widely used and are often criticized for their slightly toxic content. Hence, the manufacturers are inclined toward the use of non-phthalates, such as benzoate plasticizers, which are produced using benzoic acid. Sodium benzoate and potassium benzoate accounted for more than 45% of the total market value in 2016. Furthermore, the growing demand for benzoic acid in medical, dye intermediates, and animal feed is supporting the growth of the global benzenecarboxylic acid market.

Food Preservative is the Leading Application

Benzoic acid and its salt derivatives are used as preservatives in the food & beverage sector. It helps to improve and increase the storage stability when used in emulsion formulations, liquid detergents, paints, polishes, and waxes. The growing demand for preservatives to improve the shelf life of the products, coupled with the growth in the food & beverages industry, is likely to drive the benzoic acid market during the forecast period.

Asia-Pacific to Lead the Market

Asia-Pacific is the most promising market for benzoic acid, accounting for 50% of the global demand, and is anticipated to dominate the market in the near future owing to the vast demand for plasticizers. China and Japan, followed by India, are expected to be the biggest consumers of benzoic acid in Asia-Pacific. India is projected to be the fastest-growing benzenecarboxylic acid market in the region, due to the increasing domestic demand for plastics. The substitution of phthalate plasticizers by benzoate plasticizers due to the stringent government regulations is likely to favor the market growth in this region.

Key Developments

February 2017: Emerald announced its plans to expand the company’s capacity for sodium benzoate.

Major Players: Hebei Smart Chemicals Co. Ltd, Emerald Performance Materials, Chemcrux Enterprise Limited, Velsicol Chemical LLC, and Apollo Scientific, among others.

Reasons to Purchase this Report
  • Analyzing various perspectives of the market with the help of Porter’s five forces analysis
  • To identify the application that is expected to dominate the market
  • To identify the regions that are expected to witness the fastest growth during the forecast period
  • Identify the latest developments, market shares, and strategies employed by the major market players
  • 3-month analyst support, along with the Market Estimate sheet (in Excel)
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Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • Apollo Scientific
  • Ganesh Benzoplast Limited
  • Novaphene
  • Sinteza S.A
  • Velsicol Chemical LLC
  • MORE
1. Introduction
1.1 Research Phases
1.2 Study Deliverables
1.3 Scope of the Report

2. Executive Summary

3. Market Insights
3.1 Industry Value-Chain Analysis
3.2 Industry Attractiveness – Porter’s Five Forces Analysis
3.2.1 Bargaining Power of Suppliers
3.2.2 Bargaining Power of Consumers
3.2.3 Threat of New Entrants
3.2.4 Threat of Substitute Products and Services
3.2.5 Degree of Competition
3.3 Feedstock Analysis
3.3.1 Global Capacity by Key Feedstock
3.3.2 Trends
3.4 Technological Snapshot
3.4.1 Production Process
3.4.2 Technology Licensing and Patent Analysis
3.5 Trade Analysis
3.6 Price Index
3.7 Supply Scenario
3.7.1 Capacity and Production Analysis
3.7.1.1 Major Plants and Locations (Installed Capacities)
3.8 Upcoming Projects
3.9 Regulatory Policy Analysis

4. Market Dynamics
4.1 Drivers
4.1.1 Increase in Demand for Benzoate Plasticizer
4.1.2 Demand for Food Safety
4.2 Restraints
4.2.1 Change in Government Rules and Regulations
4.2.2 Threat from Bio Plasticizers
4.2.3 Increase in Operating Costs
4.3 Opportunity
4.3.1 Presence of Fluorine in Organic Molecule can Enhance its Pharmacological Properties
4.3.2 Government Incentives to Maintain Eco-friendly Environment in the United States

5. Market Segmentation and Analysis (Market Size, Share and Forecast)
5.1 By Production Process
5.1.1 Industry Process
5.1.2 Laboratory Process
5.2 By Application
5.2.1 Plasticizers
5.2.2 Food Preservative
5.2.3 Pharmaceutical
5.2.4 Personal Care
5.2.5 Others

6. Regional Market Analysis (Market Size, Share and Forecast)
6.1 Asia-Pacific
6.1.1 China
6.1.2 India
6.1.3 Japan
6.1.4 South Korea
6.1.5 ASEAN Countries
6.1.6 Rest of Asia-Pacific
6.2 Europe
6.2.1 Germany
6.2.2 United Kingdom
6.2.3 France
6.2.4 Italy
6.2.5 Russia
6.2.6 Rest of Europe
6.3 North America
6.3.1 United States
6.3.2 Canada
6.3.3 Mexico
6.3.4 Rest of North America
6.4 South America
6.4.1 Brazil
6.4.2 Argentina
6.4.3 Rest of South America
6.5 Middle East & Africa
6.5.1 Saudi Arabia
6.5.2 South Africa
6.5.3 Rest of Middle East & Africa

7. Competitive Landscape
7.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
7.2 Market Share Analysis**
7.3 Strategies Adopted by Leading Players

8. Company Profiles (Overview, Financials**, Products & Services, Recent Developments)
8.1 Apollo Scientific
8.2 Chemcrux Enterprise Limited
8.3 Emerald Performance Materials
8.4 Ganesh Benzoplast Limited
8.5 Hebei Smart Chemicals Co. Ltd
8.6 Huangshi Taihua Industry
8.7 Novaphene
8.8 San Fu Chemical Co. Ltd
8.9 Sinteza SA
8.10 Velsicol Chemical LLC
*List not exhaustive

9. Disclaimer
** Subject to availability on public domain
Note: Product cover images may vary from those shown
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  • Hebei Smart Chemicals Co.Ltd.
  • Emerald Performance Materials
  • Chemcrux Enterprise Limited
  • Velsicol Chemical LLC
  • Apollo Scientific
  • Novaphene
  • Huangshi Taihua Industry SAn Fu Chemical Co. Ltd.
  • Sinteza S.A
  • Ganesh Benzoplast Limited
Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown
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