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Global Benzoic Acid Market 2019-2023 - Product Image

Global Benzoic Acid Market 2019-2023

  • ID: 4718489
  • Report
  • November 2018
  • Region: Global
  • 107 pages
  • TechNavio
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FEATURED COMPANIES

  • Eastman Chemical Company
  • I G Petrochemicals
  • MORE
About this market

The increasing demand for processed and packaged foods has been one of our key trends in the market due to increasing awareness towards healthy eating and living. The food manufacturers use benzoates as food preservatives to keep packaged foods fresh for long durations. Additionally, the rising consumption of dairy foods and emphasis on food product safety compel food manufacturer to use food preservatives. The use of benzoic acid and its derivative compounds as food preservatives will have a positive influence the global benzoic acid market during the forecast period. Our market research analysts have predicted that the benzoic acid market will register a CAGR of more than 6% by 2023.

Market Overview

High demand for benzoic acid from the food and beverage industry
The increasing need for benzoic acid in food preservative in the food and beverage industry. The increasing demand for processed and package food and beverages has considerably increased the consumption of food preservatives.

Health hazards and environmental effects of benzoic acid

Consumption of highly concentrated benzoic acid is higher concentration can lead to eyes, lungs, and skin, digestive tract, and respiratory tract.

For the detailed list of factors that will drive and challenge the growth of the benzoic acid market during the 2019-2023, view the full report.

Competitive Landscape

The benzoic acid market is concentrated since the market has a few vendors that offer limited products with presence of few global and local vendors. The capacity expansions and development of new products such as Emerald Kalama Chemical, a business group of Emerald Performance Materials, announced the completion of its $40-million expansion at its Rotterdam site in the Netherlands. With this expansion, the company increased its production capacity for Purox B, benzoic acid.
Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • Eastman Chemical Company
  • I G Petrochemicals
  • MORE
PART 01: EXECUTIVE SUMMARY

PART 02: SCOPE OF THE REPORT

PART 03: MARKET LANDSCAPE
  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis
PART 04: MARKET SIZING
  • Market definition
  • Market sizing 2018
  • Market size and forecast 2018-2023
PART 05: FIVE FORCES ANALYSIS
  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition
PART 06: MARKET SEGMENTATION BY APPLICATION
  • Market segmentation by application
  • Comparison by application
  • Benzoates - Market size and forecast 2018-2023
  • Benzoate plasticizers - Market size and forecast 2018-2023
  • Alkyd resins - Market size and forecast 2018-2023
  • Others - Market size and forecast 2018-2023
  • Market opportunity by application
PART 07: CUSTOMER LANDSCAPE

PART 08: GEOGRAPHIC LANDSCAPE
  • Geographic segmentation
  • Geographic comparison
  • APAC - Market size and forecast 2018-2023
  • EMEA - Market size and forecast 2018-2023
  • Americas - Market size and forecast 2018-2023
  • Key leading countries
  • Market opportunity
PART 09: DECISION FRAMEWORK

PART 10: DRIVERS AND CHALLENGES
  • Market drivers
  • Market challenges
PART 11: MARKET TRENDS
  • Rising demand for processed and packaged food
  • Capacity expansions and development of new products
  • Advances in the recovery of benzoic acid
PART 12: VENDOR LANDSCAPE
  • Overview
  • Landscape disruption
  • Competitive scenario
PART 13: VENDOR ANALYSIS
  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Eastman Chemical Company
  • Emerald Performance Materials
  • I G Petrochemicals
  • Liaoning Huayi Chemical Industry & Commerce
  • Tianjin Dongda Chemical Group
  • Velsicol Chemical
PART 14: APPENDIX
  • Research methodology
  • List of abbreviations
List of Exhibits
Exhibit 01: Global benzaldehyde market
Exhibit 02: Segments of global benzaldehyde market
Exhibit 03: Market characteristics
Exhibit 04: Market segments
Exhibit 05: Market definition - Inclusions and exclusions checklist
Exhibit 06: Market size 2018
Exhibit 07: Global market: Size and forecast 2018-2023 ($ millions)
Exhibit 08: Global market: Year-over-year growth 2019-2023 (%)
Exhibit 09: Five forces analysis 2018
Exhibit 10: Five forces analysis 2023
Exhibit 11: Bargaining power of buyers
Exhibit 12: Bargaining power of suppliers
Exhibit 13: Threat of new entrants
Exhibit 14: Threat of substitutes
Exhibit 15: Threat of rivalry
Exhibit 16: Market condition - Five forces 2018
Exhibit 17: Application - Market share 2018-2023 (%)
Exhibit 18: Comparison by application
Exhibit 19: Benzoates - Market size and forecast 2018-2023 ($ millions)
Exhibit 20: Benzoates - Year-over-year growth 2019-2023 (%)
Exhibit 21: Benzoate plasticizers - Market size and forecast 2018-2023 ($ millions)
Exhibit 22: Benzoate plasticizers - Year-over-year growth 2019-2023 (%)
Exhibit 23: Alkyd resins - Market size and forecast 2018-2023 ($ millions)
Exhibit 24: Alkyd resins - Year-over-year growth 2019-2023 (%)
Exhibit 25: Others - Market size and forecast 2018-2023 ($ millions)
Exhibit 26: Others - Year-over-year growth 2019-2023 (%)
Exhibit 27: Market opportunity by application
Exhibit 28: Customer landscape
Exhibit 29: Market share by geography 2018-2023 (%)
Exhibit 30: Geographic comparison
Exhibit 31: APAC - Market size and forecast 2018-2023 ($ millions)
Exhibit 32: APAC - Year-over-year growth 2019-2023 (%)
Exhibit 33: EMEA - Market size and forecast 2018-2023 ($ millions)
Exhibit 34: EMEA - Year-over-year growth 2019-2023 (%)
Exhibit 35: Americas - Market size and forecast 2018-2023 ($ millions)
Exhibit 36: Americas - Year-over-year growth 2019-2023 (%)
Exhibit 37: Key leading countries
Exhibit 38: Market opportunity
Exhibit 39: Decision frameworkList of Exhibits
Exhibit 01: Crude oil prices 2010-2017 ($ per barrel)
Exhibit 02: Impact of drivers and challenges
Exhibit 03: Vendor landscape
Exhibit 04: Landscape disruption
Exhibit 05: Vendors covered
Exhibit 06: Vendor_analysis1
Exhibit 07: Vendor classification
Exhibit 08: Market positioning of vendors
Exhibit 09: Eastman Chemical Company - Vendor overview
Exhibit 10: Eastman Chemical Company - Business segments
Exhibit 11: Eastman Chemical Company - Organizational developments
Exhibit 12: Eastman Chemical Company - Geographic focus
Exhibit 13: Eastman Chemical Company - Segment focus
Exhibit 14: Eastman Chemical Company - Key offerings
Exhibit 15: Emerald Performance Materials - Vendor overview
Exhibit 16: Emerald Performance Materials - Business segments
Exhibit 17: Emerald Performance Materials - Organizational developments
Exhibit 18: Emerald Performance Materials - Key offerings
Exhibit 19: I G Petrochemicals - Vendor overview
Exhibit 20: I G Petrochemicals - Business segments
Exhibit 21: I G Petrochemicals - Geographic focus
Exhibit 22: I G Petrochemicals - Key offerings
Exhibit 23: Liaoning Huayi Chemical Industry & Commerce - Vendor overview
Exhibit 24: Liaoning Huayi Chemical Industry & Commerce - Product segments
Exhibit 25: Liaoning Huayi Chemical Industry & Commerce - Key offerings
Exhibit 26: Tianjin Dongda Chemical Group - Vendor overview
Exhibit 27: Tianjin Dongda Chemical Group - Key offerings
Exhibit 28: Velsicol Chemical - Vendor overview
Exhibit 29: Velsicol Chemical - Key offerings
Exhibit 30: Research framework
Exhibit 31: Validation techniques employed for market sizing
Exhibit 32: Information sources
Exhibit 33: List of abbreviations
Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • Eastman Chemical Company
  • I G Petrochemicals
  • MORE
Global Benzoic Acid Market 2019-2023

The author of the report recognizes the following companies as the key players in the global benzoic acid market: Eastman Chemical Company, Emerald Performance Materials, I G Petrochemicals, Liaoning Huayi Chemical Industry & Commerce, Tianjin Dongda Chemical Group, Velsicol Chemical.

Commenting on the report, an analyst from the research team said: “The latest trend gaining momentum in the market is the advances in the recovery of benzoic acid. Benzoic acid is recovered as an organic impurity during the treatment of purified terephthalic acid (PTA). Benzoic acid can be purified by treating the crude solid material with a solution of bisulfite. Other than this, recrystallization of crude benzoic acid obtained from phthalic anhydride or acid can be done to synthesize purified benzoic acid.

According to the report, one of the major drivers for this market is the extensive use of benzoic acid in APAC. The growth in pharmaceutical industry in the region can be attributed to the R&D activities for the development and sale of safe chemicals and flavoring agents.

Further, the report states that one of the major factors hindering the growth of this market is the presence of substitutes. Calcium propionate, potassium sobate, sorbic acid, BHT and BHA exhibit similar characteristics as that of benzoic acid.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
Note: Product cover images may vary from those shown
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  • Eastman Chemical Company
  • Emerald Performance Materials
  • I G Petrochemicals
  • Liaoning Huayi Chemical Industry & Commerce
  • Tianjin Dongda Chemical Group
Note: Product cover images may vary from those shown
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