Benzoic Acid - Global Strategic Business Report

Global Benzoic Acid Market to Reach $1.7 Billion by 2030

The global market for Benzoic Acid estimated at US$1.1 Billion in the year 2022, is projected to reach a revised size of US$1.7 Billion by 2030, growing at a CAGR of 4.9% over the analysis period 2022-2030. Benzoates, one of the segments analyzed in the report, is projected to record a 4.8% CAGR and reach US$701.6 Million by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Alkyd Resins segment is readjusted to a revised 5% CAGR for the next 8-year period.

The U.S. Market is Estimated at $310.3 Million, While China is Forecast to Grow at 8.2% CAGR

The Benzoic Acid market in the U.S. is estimated at US$310.3 Million in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$358.8 Million by the year 2030 trailing a CAGR of 8.2% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.5% and 4% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 3.2% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$227.5 Million by the year 2030.

Select Competitors (Total 41 Featured) -

• Avantor Performance Materials, Inc.
• Choice Organochem LLP
• Eastman Chemical Company
• Emerald Performance Materials LLC
• FUSHIMI Pharmaceutical Co., Ltd.
• Ganesh Benzoplast Limited
• Hemadri Chemicals
• Indian Oil Corporation Ltd.
• Jqc (Huayin) Pharmaceutical Co., Ltd.
• Krishna Chemicals
• Navyug Pharmachem (P) Ltd.
• Nimbasia
• Pat Impex
• Premier Group of Industries
• Primechem Enterprises
• Reliance Industries Ltd.
• San Fu Chemical Co., Ltd.
• Sinteza (Romania)
• Swastik Industries
• The Chemical Company
• Tianjin Dongda Chemical Group Co., Ltd.
• triveni interchem private limited
• Velsicol Chemical, LLC.
• Wuhan YouJi Industries Company Limited

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