Access Report: Benzoic Acid Market Research Report Global Forecast to 2027
Benzoic Acid Market, by Method (Oxidation, Hydrolysis, Grignard reagent), by Application (Chemical, Plasticizer, Food & Beverage, Animal food), by End-user (Pharmaceutical industry, Chemical industry, Plastic industry) - Global forecast 2027
About Global Benzoic Acid Market:
In the present scenario, increasing demand for food preservatives along with cosmetics, dyes, plastics and insect repellents is escalating the demand for the Benzoic Acid Market. Salts of benzoic acid are used for food preservatives and are also used in the manufacture of various end use industries. The salts and esters of benzoic acid are commonly known as Benzoates.
Benzoic Acid is a white, crystalline organic compound belongs to carboxylic acids family. Its chemical formula is C7H6O2 (or C6H5COOH). Benzoic Acid is a colorless, lamellar crystal, odorless chemical compound. Melting point is 122.1, boiling point is 24. The relative density is 1.2659 (15 / 4). The rapid sublimation at 100, the steam has a strong irritant, can cause cough after inhalation. It is slightly soluble in water, soluble in ethanol, ether, chloroform, benzene, toluene, CS2, CCl4 and turpentine organic solvent.
Benzoic Global Benzoic Acid Market Application:
Benzoic acid is used as a chemical reagent and preservative. It is an important use in food preservation such as with plastic barrels concentrated fruit and vegetable juice, the maximum use amount shall not be over 2.0g / kg; in jam (excluding canned), (taste) juice drink, soy sauce, vinegar in the maximum dose of 1.0g/kg; in soft candy, wine, wine in the maximum dose of 0.8 g / kg separately; in the low salt pickled vegetables, the sauce, candied fruit, maximum dose is 0.5 g / kg; in carbonated drinks in the largest amount of use is 0.2g/kg. Due to benzoic acid, slightly soluble in water, its use can be a small amount of ethanol enable dissolved.
It is also used for antifungal and antiseptic, medicine, dye carriers, plasticizer, spices and food preservatives such as production, and can also be used to paint of alkyd resin performance improvement; used as pharmaceutical and dye intermediates, used for the preparation of plasticizer and spices etc., as well as equipment, iron and steel anti rust agent.
Global Benzoic Acid Market Growth Influencer:
One of the major drivers fuelling the growth of the Global Benzoic Acid Market is the rise in demand of food industry which is expected to bring market value of more than US$ 3.03 trillion, registering a CAGR of 4.3% during the forecasted period. The another factors affecting the growth of the global Benzoic Acid Market includes increasing demand in Asia-Pacific, changing lifestyle, improved living standards, rise in consumption of more food and ready-to-drink beverages and continue upsurge in urbanization. Consumption of benzoic acids in potassium and sodium benzoate has also been driving this market over the past few years. However, lack of manufacturing advancement along with stringent government regulations is hampering the growth of the Global Benzoic Acid Market.
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Global Benzoic Acid Market Segmentation:
The Global Benzoic acid market is segmented into its Methods and Applications.
Benzoic Acid Market by Method:
Friedel-crafts reaction and chlorination methods
Benzoic Acid Market by Applications:
Preservative in Food industries
Plastic industries and Others
Global Benzoic Acid Market Regional Analysis:
The regional analysis includes North America, Europe, Asia Pacific, Middle East and rest of the world.
The global Benzoic Acid Market is expected to grow with a CAGR of more than 4% during the forecasted period. Food and beverages accounted for nearly 49% of world consumption of benzoic acid in the form of sodium and potassium benzoate in 2013. This was mainly a result of increased use in preservation, as packaged food and beverages continue to gain in popularity and availability.
Asia-pacific is dominating the Benzoic acid market followed by Europe and North America. The major driving factors for benzoic acid market in Asia include: increasing population, increase in demand for preserved food by working women along with rapid industrialization, increase in per-capita disposable income, increased dependency over processed food and improving living standards. China dominates the Benzoic Acid Market in Asia Pacific region due to the upraised demand of its leading product segment benzoate plasticizers. However, more than benzoate plasticizers, China is a hub for benzoyl chloride and sodium benzoate.
Demand growth in Europe and the Americas is due to increased consumption in benzoate plasticizers. In these regions, production and demand for benzoate plasticizers are forecast to grow significantly. This is largely because of use of benzoic acid as a replacement for phthalate plasticizers, some of which are being increasingly regulated, these regulations are the main drivers behind increased demand for benzoate plasticizers.
Additionally, Europe and Asia-Pacific accounted for approximately 86.5% of the overall Benzoic Acid Market.
Global Benzoic Acid Market Major Players:
Some of the major players in the Global Benzoic Acid Market are as: Emerald Kalama, Fushimi, San Fu, Wuhan Youji Industries, Huayin Jinqiancheng and Nantong Haier, Novaphene, Huangshi Taihua Industry, Shri Hari Chemicals, Sinteza S.A., and Chemcrux Enterprises Ltd. Among others
Latest Trends in Global Benzoic Acid Market:
Emerald Kalama chemical announced in 2015 that it will make multi-million-dollar investment in production of high purity benzoic acid-based products at Rotterdam. Engineering and design for the project are underway. Construction will begin later this year and continue through 2016, with a planned start-up in the fourth quarter of 2016.
The reports also covers brief analysis of Geographical Region includes:
Rest of Western Europe
Rest of Asia
The Middle East& Africa
The report on Benzoic acid Market comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance.
This report will provide the clear picture of current market scenario of Benzoic acid market globally as well as the country level markets. The report also provides the information about Benzoic acid market by various methods which are used to manufacture benzoic acid, and by its various applications. It will also depict detailed information about companies with their market dynamics involved in manufacturing of benzoic acid.
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