The Benzoic Acid Market size was valued at USD 1.53 billion in 2023. It is estimated to hit USD 2.41 billion by 2032 and grow at a CAGR of 5.16% over the forecast period of 2024-2032.
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Benzoic acid, a versatile aromatic carboxylic acid, plays a pivotal role across various industries due to its multifaceted applications. In the food and beverage sector, it serves as an effective preservative, extending shelf life by inhibiting microbial growth in acidic products like jams, sauces, and fruit juices. This preservative function is crucial as the global demand for processed foods continues to rise, driven by changing consumer lifestyles and the need for longer-lasting products.
In the pharmaceutical industry, benzoic acid is utilized in the synthesis of antifungal and anti-inflammatory medications, highlighting its significance in healthcare. Its derivatives, such as benzyl benzoate, are also employed in the treatment of scabies and lice infestations, underscoring its therapeutic versatility. The chemical industry leverages benzoic acid as a precursor for producing various compounds, including plasticizers, which are essential in manufacturing flexible plastics. This application is particularly pertinent as the demand for plastic products grows, driven by advancements in packaging, automotive, and construction sectors.
Recent developments in the benzoic acid market reflect a trend toward sustainable and eco-friendly production methods. Some companies are introducing greener manufacturing methods to reduce the environmental impact of benzoic acid production. This move aligns with the increasing consumer preference for natural ingredients and sustainable practices across industries.
MARKET DYNAMICS
DRIVERS
The growing demand for benzoic acid is largely driven by its extensive use across various end-use industries. In the food and beverage sector, benzoic acid serves as a preservative, helping extend shelf life by inhibiting microbial growth, particularly in processed foods and soft drinks. The pharmaceutical industry relies on benzoic acid for the synthesis of various drugs, including antiseptics and analgesics, thus benefiting from its versatile applications. Additionally, the cosmetics industry utilizes benzoic acid in products like skin creams, shampoos, and deodorants for its preservative and antimicrobial properties. In the polymers and plastics sector, benzoic acid is a key ingredient in producing plasticizers, resins, and dyes, which are vital for the automotive and construction industries. As global consumption of processed foods, pharmaceuticals, and personal care products continues to rise, the demand for benzoic acid is expected to grow, fueling the market across these diverse sectors.
RESTRAINT
Health and safety concerns surrounding benzoic acid primarily arise from its potential to cause skin irritation and other adverse effects if used improperly. When applied in high concentrations, benzoic acid can lead to skin burns, rashes, and allergic reactions, particularly in sensitive individuals. Ingesting excessive amounts can also result in toxicity, causing symptoms such as nausea, vomiting, and gastrointestinal distress. These health risks have led to strict regulatory scrutiny, particularly in industries like food and cosmetics, where benzoic acid is commonly used as a preservative. Regulatory bodies such as the FDA have set limits on its concentration in food products to ensure consumer safety. Additionally, there are concerns regarding its use in cosmetics, as it may cause irritation or allergic reactions in some people. These health and safety concerns often result in reduced usage of benzoic acid in sensitive applications and increased demand for safer alternatives.
MARKET SEGMENTATION
By Form
The anhydrous segment dominated with the market share over 62% in 2023, due to its superior stability and versatility across various industries. It is widely used as a preservative in food and beverages, pharmaceuticals, and personal care products. The anhydrous form offers better preservation properties, extending the shelf life of products by preventing microbial growth. Its stable chemical structure makes it ideal for industrial applications, where precision and durability are crucial. Compared to the liquid form, anhydrous benzoic acid provides more efficient preservation and is easier to handle in manufacturing processes, contributing to its dominance in the market.
By Application
The Sodium Benzoate segment dominated with the market share over 34% in 2023, due to its vital role as a preservative in the food and beverage industry. It effectively prevents the growth of mold, yeast, and bacteria in acidic foods, helping to prolong shelf life and maintain product safety. This ability makes it particularly important in preserving items such as carbonated beverages, fruit juices, and condiments, where microbial growth could otherwise lead to spoilage. The widespread and consistent demand for sodium benzoate in these products has solidified its position as the leading application in the market.
By End-use
The Food & Beverage segment dominated with the market share over42% in 2023, due to its widespread use as a preservative in processed and packaged foods. Benzoic acid prevents the growth of harmful microorganisms such as mold, yeast, and bacteria, thus extending the shelf life of food products. As consumer demand for convenience foods increases and food safety awareness rises, the reliance on preservatives like benzoic acid grows. This trend is driven by the need for longer-lasting, safe-to-consumer products in the market. As a result, benzoic acid plays a crucial role in maintaining food quality and safety, bolstering its demand in this sector.
KEY REGIONAL ANALYSIS
Asia-Pacific region dominated with the market share over 38% in 2023. This dominance is fueled by the strong demand from key industries such as food & beverages, pharmaceuticals, and plastics. Countries like China and India are major contributors to this demand due to their large manufacturing sectors and growing industrialization. Benzoic acid is widely used as a preservative in food products, in the production of medicines, and in the creation of polymers and resins. The region's expanding industrial base and rising population continue to drive the market's growth.
The North American region is experiencing rapid growth in the Benzoic Acid market, driven by its increasing use across diverse industries. In the food and beverage sector, it serves as a preservative, while in personal care and cosmetics, it is utilized for its antimicrobial properties. Additionally, the rising consumer preference for sustainable and eco-friendly products is contributing to the growing demand for Benzoic Acid, as it is often used in natural formulations. This trend aligns with the region's focus on reducing chemical usage and promoting environmentally friendly alternatives, further fueling the market’s expansion in North America.
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Some of the major key players of the Benzoic Acid Market
Suppliers for (benzoic acid with high purity and consistent quality, catering to pharmaceutical, food, and cosmetic industries) on Benzoic Acid Market
In February 2024: Eastman Chemical Company entered into a partnership with LANXESS to advance sustainable benzoic acid production technology. The collaboration seeks to develop eco-friendly manufacturing methods that could revolutionize the industry by reducing harmful emissions and improving resource efficiency.
In August 2023: Sinteza S.A. initiated a project aimed at harnessing thermal energy from waste. The project will utilize various by-products from the benzoic acid production process to generate thermal energy (steam), which will then be fed back into the production process.
| Report Attributes | Details |
| Market Size in 2023 | USD 1.53 billion |
| Market Size by 2032 | USD 2.41 billion |
| CAGR | CAGR of 5.16% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Form (Liquid and Anhydrous) • By Application (Sodium Benzoate, Benzyl Benzoate, Potassium Benzoate, Benzoate Plasticizers, Benzoyl Chloride, Alkyd Resin, Feed Additives, and Others) • By End-use (Food & Beverage, Chemical, Cosmetics and Personal Care, Pharmaceuticals, and Others) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
| Company Profiles | Chemcrux Enterprises Ltd., Merck KGaA, LANXESS, Thermo Fisher Scientific Inc., Ganesh Benzoplast Limited, Fushimi, I G Petrochemicals Ltd., Hemadri Chemicals, Eastman Chemical Company, GFS Chemicals Inc., Spectrum Chemical, Shandong Jinnuo Chemical Co., Ltd., Anhui Bayi Chemical Industry Co., Ltd., Mitsubishi Chemical Corporation, Jiangsu SOPO Chemical Co., Ltd., BASF, SABIC, Cargill, Aarti Industries Ltd., and Laxmi Organic Industries Ltd. |
| Key Drivers | • The growing demand for processed foods, pharmaceuticals, cosmetics, and polymers drives the increased use of benzoic acid across multiple industries. |
| RESTRAINTS | • Health and safety concerns regarding skin irritation and toxicity from improper use of benzoic acid led to regulatory challenges and limited usage in sensitive applications like food and cosmetics. |
Ans: Asia-Pacific dominated the Benzoic Acid Market in 2023
Ans: The “Anhydrous" segment dominated the Benzoic Acid Market.
Ans: The growing demand for processed foods, pharmaceuticals, cosmetics, and polymers drives the increased use of benzoic acid across multiple industries.
Ans: The Benzoic Acid Market was USD 1.53 billion in 2023 and is expected to Reach USD 2.41 billion by 2032.
Ans: The Benzoic Acid Market is expected to grow at a CAGR of 5.16% during 2024-2032.
TABLE OF CONTENT
1. Introduction
1.1 Market Definition
1.2 Scope (Inclusion and Exclusions)
1.3 Research Assumptions
2. Executive Summary
2.1 Market Overview
2.2 Regional Synopsis
2.3 Competitive Summary
3. Research Methodology
3.1 Top-Down Approach
3.2 Bottom-up Approach
3.3. Data Validation
3.4 Primary Interviews
4. Market Dynamics
4.1 Market Analysis
4.1.1 Drivers
4.1.2 Restraints
4.1.3 Opportunities
4.1.4 Challenges
4.2 PESTLE Analysis
4.3 Porter’s Five Forces Model
5. Statistical Insights and Trends Reporting
5.1 Global Consumption Trends of Benzoic Acid in Food and Beverage Preservation (2023)
5.2 Demand for Benzoic Acid in Plasticizers and Alkyd Resin Manufacturing (2023)
5.3 Regional Price Analysis of Benzoic Acid (2023)
5.4 Environmental Regulations Impacting Benzoic Acid Usage (2023)
5.5 Shift Towards Bio-Based Benzoic Acid Alternatives (2020–2030)
6. Competitive Landscape
6.1 List of Major Companies, By Region
6.2 Market Share Analysis, By Region
6.3 Product Benchmarking
6.3.1 Product specifications and features
6.3.2 Pricing
6.4 Strategic Initiatives
6.4.1 Marketing and promotional activities
6.4.2 Distribution and Supply Chain Strategies
6.4.3 Expansion plans and new product launches
6.4.4 Strategic partnerships and collaborations
6.5 Technological Advancements
6.6 Market Positioning and Branding
7. Benzoic Acid Market Segmentation, By Form
7.1 Chapter Overview
7.2 Liquid
7.2.1 Liquid Market Trends Analysis (2020-2032)
7.2.2 Liquid Market Size Estimates and Forecasts to 2032 (USD Billion)
7.3 Anhydrous
7.3.1 Anhydrous Market Trends Analysis (2020-2032)
7.3.2 Anhydrous Market Size Estimates and Forecasts to 2032 (USD Billion)
8. Benzoic Acid Market Segmentation, By Application
8.1 Chapter Overview
8.2 Sodium Benzoate
8.2.1 Sodium Benzoate Market Trends Analysis (2020-2032)
8.2.2 Sodium Benzoate Market Size Estimates and Forecasts to 2032 (USD Billion)
8.3 Benzyl Benzoate
8.3.1 Benzyl Benzoate Market Trends Analysis (2020-2032)
8.3. Benzyl Benzoate Market Size Estimates and Forecasts to 2032 (USD Billion)
8.4 Potassium Benzoate
8.3.1 Potassium Benzoate Market Trends Analysis (2020-2032)
8.3.2 Potassium Benzoate Market Size Estimates and Forecasts to 2032 (USD Billion)
8.5 Benzoate Plasticizers
8.3.1 Benzoate Plasticizers Market Trends Analysis (2020-2032)
8.3.2 Benzoate Plasticizers Market Size Estimates and Forecasts to 2032 (USD Billion)
8.6 Benzoyl Chloride
8.3.1 Benzoyl Chloride Market Trends Analysis (2020-2032)
8.3.2 Benzoyl Chloride Market Size Estimates and Forecasts to 2032 (USD Billion)
8.7 Alkyd Resin
8.3.1 Alkyd Resin Market Trends Analysis (2020-2032)
8.3.2 Alkyd Resin Market Size Estimates and Forecasts to 2032 (USD Billion)
8.8 Feed Additives
8.3.1 Feed Additives Market Trends Analysis (2020-2032)
8.3.2 Feed Additives Market Size Estimates and Forecasts to 2032 (USD Billion)
8.9 Others
8.9.1 Others Market Trends Analysis (2020-2032)
8.9.2 Others Market Size Estimates and Forecasts to 2032 (USD Billion)
9. Benzoic Acid Market Segmentation, By End-use
9.1 Chapter Overview
9.2 Food & Beverage
9.2.1 Food & Beverage Market Trends Analysis (2020-2032)
9.2.2 Food & Beverage Market Size Estimates and Forecasts to 2032 (USD Billion)
9.3 Chemical
9.3.1 Chemical Market Trends Analysis (2020-2032)
9.3.2 Chemical Market Size Estimates and Forecasts to 2032 (USD Billion)
9.4 Cosmetics and Personal Care
9.3.1 Cosmetics and Personal Care Market Trends Analysis (2020-2032)
9.3.2 Cosmetics and Personal Care Market Size Estimates and Forecasts to 2032 (USD Billion)
9.5 Pharmaceuticals
9.3.1 Pharmaceuticals Market Trends Analysis (2020-2032)
9.3.2 Pharmaceuticals Market Size Estimates and Forecasts to 2032 (USD Billion)
9.6 Others
9.3.1 Others Market Trends Analysis (2020-2032)
9.3.2 Others Market Size Estimates and Forecasts to 2032 (USD Billion)
10. Regional Analysis
10.1 Chapter Overview
10.2 North America
10.2.1 Trends Analysis
10.2.2 North America Benzoic Acid Market Estimates and Forecasts, by Country (2020-2032) (USD Billion)
10.2.3 North America Benzoic Acid Market Estimates and Forecasts, By Form (2020-2032) (USD Billion)
10.2.4 North America Benzoic Acid Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.2.5 North America Benzoic Acid Market Estimates and Forecasts, By End-use (2020-2032) (USD Billion)
10.2.6 USA
10.2.6.1 USA Benzoic Acid Market Estimates and Forecasts, By Form (2020-2032) (USD Billion)
10.2.6.2 USA Benzoic Acid Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.2.6.3 USA Benzoic Acid Market Estimates and Forecasts, By End-use (2020-2032) (USD Billion)
10.2.7 Canada
10.2.7.1 Canada Benzoic Acid Market Estimates and Forecasts, By Form (2020-2032) (USD Billion)
10.2.7.2 Canada Benzoic Acid Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.2.7.3 Canada Benzoic Acid Market Estimates and Forecasts, By End-use (2020-2032) (USD Billion)
10.2.8 Mexico
10.2.8.1 Mexico Benzoic Acid Market Estimates and Forecasts, By Form (2020-2032) (USD Billion)
10.2.8.2 Mexico Benzoic Acid Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.2.8.3 Mexico Benzoic Acid Market Estimates and Forecasts, By End-use (2020-2032) (USD Billion)
10.3 Europe
10.3.1 Eastern Europe
10.3.1.1 Trends Analysis
10.3.1.2 Eastern Europe Benzoic Acid Market Estimates and Forecasts, by Country (2020-2032) (USD Billion)
10.3.1.3 Eastern Europe Benzoic Acid Market Estimates and Forecasts, By Form (2020-2032) (USD Billion)
10.3.1.4 Eastern Europe Benzoic Acid Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.3.1.5 Eastern Europe Benzoic Acid Market Estimates and Forecasts, By End-use (2020-2032) (USD Billion)
10.3.1.6 Poland
10.3.1.6.1 Poland Benzoic Acid Market Estimates and Forecasts, By Form (2020-2032) (USD Billion)
10.3.1.6.2 Poland Benzoic Acid Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.3.1.6.3 Poland Benzoic Acid Market Estimates and Forecasts, By End-use (2020-2032) (USD Billion)
10.3.1.7 Romania
10.3.1.7.1 Romania Benzoic Acid Market Estimates and Forecasts, By Form (2020-2032) (USD Billion)
10.3.1.7.2 Romania Benzoic Acid Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.3.1.7.3 Romania Benzoic Acid Market Estimates and Forecasts, By End-use (2020-2032) (USD Billion)
10.3.1.8 Hungary
10.3.1.8.1 Hungary Benzoic Acid Market Estimates and Forecasts, By Form (2020-2032) (USD Billion)
10.3.1.8.2 Hungary Benzoic Acid Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.3.1.8.3 Hungary Benzoic Acid Market Estimates and Forecasts, By End-use (2020-2032) (USD Billion)
10.3.1.9 Turkey
10.3.1.9.1 Turkey Benzoic Acid Market Estimates and Forecasts, By Form (2020-2032) (USD Billion)
10.3.1.9.2 Turkey Benzoic Acid Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.3.1.9.3 Turkey Benzoic Acid Market Estimates and Forecasts, By End-use (2020-2032) (USD Billion)
10.3.1.10 Rest of Eastern Europe
10.3.1.10.1 Rest of Eastern Europe Benzoic Acid Market Estimates and Forecasts, By Form (2020-2032) (USD Billion)
10.3.1.10.2 Rest of Eastern Europe Benzoic Acid Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.3.1.10.3 Rest of Eastern Europe Benzoic Acid Market Estimates and Forecasts, By End-use (2020-2032) (USD Billion)
10.3.2 Western Europe
10.3.2.1 Trends Analysis
10.3.2.2 Western Europe Benzoic Acid Market Estimates and Forecasts, by Country (2020-2032) (USD Billion)
10.3.2.3 Western Europe Benzoic Acid Market Estimates and Forecasts, By Form (2020-2032) (USD Billion)
10.3.2.4 Western Europe Benzoic Acid Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.3.2.5 Western Europe Benzoic Acid Market Estimates and Forecasts, By End-use (2020-2032) (USD Billion)
10.3.2.6 Germany
10.3.2.6.1 Germany Benzoic Acid Market Estimates and Forecasts, By Form (2020-2032) (USD Billion)
10.3.2.6.2 Germany Benzoic Acid Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.3.2.6.3 Germany Benzoic Acid Market Estimates and Forecasts, By End-use (2020-2032) (USD Billion)
10.3.2.7 France
10.3.2.7.1 France Benzoic Acid Market Estimates and Forecasts, By Form (2020-2032) (USD Billion)
10.3.2.7.2 France Benzoic Acid Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.3.2.7.3 France Benzoic Acid Market Estimates and Forecasts, By End-use (2020-2032) (USD Billion)
10.3.2.8 UK
10.3.2.8.1 UK Benzoic Acid Market Estimates and Forecasts, By Form (2020-2032) (USD Billion)
10.3.2.8.2 UK Benzoic Acid Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.3.2.8.3 UK Benzoic Acid Market Estimates and Forecasts, By End-use (2020-2032) (USD Billion)
10.3.2.9 Italy
10.3.2.9.1 Italy Benzoic Acid Market Estimates and Forecasts, By Form (2020-2032) (USD Billion)
10.3.2.9.2 Italy Benzoic Acid Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.3.2.9.3 Italy Benzoic Acid Market Estimates and Forecasts, By End-use (2020-2032) (USD Billion)
10.3.2.10 Spain
10.3.2.10.1 Spain Benzoic Acid Market Estimates and Forecasts, By Form (2020-2032) (USD Billion)
10.3.2.10.2 Spain Benzoic Acid Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.3.2.10.3 Spain Benzoic Acid Market Estimates and Forecasts, By End-use (2020-2032) (USD Billion)
10.3.2.11 Netherlands
10.3.2.11.1 Netherlands Benzoic Acid Market Estimates and Forecasts, By Form (2020-2032) (USD Billion)
10.3.2.11.2 Netherlands Benzoic Acid Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.3.2.11.3 Netherlands Benzoic Acid Market Estimates and Forecasts, By End-use (2020-2032) (USD Billion)
10.3.2.12 Switzerland
10.3.2.12.1 Switzerland Benzoic Acid Market Estimates and Forecasts, By Form (2020-2032) (USD Billion)
10.3.2.12.2 Switzerland Benzoic Acid Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.3.2.12.3 Switzerland Benzoic Acid Market Estimates and Forecasts, By End-use (2020-2032) (USD Billion)
10.3.2.13 Austria
10.3.2.13.1 Austria Benzoic Acid Market Estimates and Forecasts, By Form (2020-2032) (USD Billion)
10.3.2.13.2 Austria Benzoic Acid Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.3.2.13.3 Austria Benzoic Acid Market Estimates and Forecasts, By End-use (2020-2032) (USD Billion)
10.3.2.14 Rest of Western Europe
10.3.2.14.1 Rest of Western Europe Benzoic Acid Market Estimates and Forecasts, By Form (2020-2032) (USD Billion)
10.3.2.14.2 Rest of Western Europe Benzoic Acid Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.3.2.14.3 Rest of Western Europe Benzoic Acid Market Estimates and Forecasts, By End-use (2020-2032) (USD Billion)
10.4 Asia-Pacific
10.4.1 Trends Analysis
10.4.2 Asia-Pacific Benzoic Acid Market Estimates and Forecasts, by Country (2020-2032) (USD Billion)
10.4.3 Asia-Pacific Benzoic Acid Market Estimates and Forecasts, By Form (2020-2032) (USD Billion)
10.4.4 Asia-Pacific Benzoic Acid Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.4.5 Asia-Pacific Benzoic Acid Market Estimates and Forecasts, By End-use (2020-2032) (USD Billion)
10.4.6 China
10.4.6.1 China Benzoic Acid Market Estimates and Forecasts, By Form (2020-2032) (USD Billion)
10.4.6.2 China Benzoic Acid Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.4.6.3 China Benzoic Acid Market Estimates and Forecasts, By End-use (2020-2032) (USD Billion)
10.4.7 India
10.4.7.1 India Benzoic Acid Market Estimates and Forecasts, By Form (2020-2032) (USD Billion)
10.4.7.2 India Benzoic Acid Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.4.7.3 India Benzoic Acid Market Estimates and Forecasts, By End-use (2020-2032) (USD Billion)
10.4.8 Japan
10.4.8.1 Japan Benzoic Acid Market Estimates and Forecasts, By Form (2020-2032) (USD Billion)
10.4.8.2 Japan Benzoic Acid Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.4.8.3 Japan Benzoic Acid Market Estimates and Forecasts, By End-use (2020-2032) (USD Billion)
10.4.9 South Korea
10.4.9.1 South Korea Benzoic Acid Market Estimates and Forecasts, By Form (2020-2032) (USD Billion)
10.4.9.2 South Korea Benzoic Acid Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.4.9.3 South Korea Benzoic Acid Market Estimates and Forecasts, By End-use (2020-2032) (USD Billion)
10.4.10 Vietnam
10.4.10.1 Vietnam Benzoic Acid Market Estimates and Forecasts, By Form (2020-2032) (USD Billion)
10.4.10.2 Vietnam Benzoic Acid Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.4.10.3 Vietnam Benzoic Acid Market Estimates and Forecasts, By End-use (2020-2032) (USD Billion)
10.4.11 Singapore
10.4.11.1 Singapore Benzoic Acid Market Estimates and Forecasts, By Form (2020-2032) (USD Billion)
10.4.11.2 Singapore Benzoic Acid Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.4.11.3 Singapore Benzoic Acid Market Estimates and Forecasts, By End-use (2020-2032) (USD Billion)
10.4.12 Australia
10.4.12.1 Australia Benzoic Acid Market Estimates and Forecasts, By Form (2020-2032) (USD Billion)
10.4.12.2 Australia Benzoic Acid Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.4.12.3 Australia Benzoic Acid Market Estimates and Forecasts, By End-use (2020-2032) (USD Billion)
10.4.13 Rest of Asia-Pacific
10.4.13.1 Rest of Asia-Pacific Benzoic Acid Market Estimates and Forecasts, By Form (2020-2032) (USD Billion)
10.4.13.2 Rest of Asia-Pacific Benzoic Acid Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.4.13.3 Rest of Asia-Pacific Benzoic Acid Market Estimates and Forecasts, By End-use (2020-2032) (USD Billion)
10.5 Middle East and Africa
10.5.1 Middle East
10.5.1.1 Trends Analysis
10.5.1.2 Middle East Benzoic Acid Market Estimates and Forecasts, by Country (2020-2032) (USD Billion)
10.5.1.3 Middle East Benzoic Acid Market Estimates and Forecasts, By Form (2020-2032) (USD Billion)
10.5.1.4 Middle East Benzoic Acid Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.5.1.5 Middle East Benzoic Acid Market Estimates and Forecasts, By End-use (2020-2032) (USD Billion)
10.5.1.6 UAE
10.5.1.6.1 UAE Benzoic Acid Market Estimates and Forecasts, By Form (2020-2032) (USD Billion)
10.5.1.6.2 UAE Benzoic Acid Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.5.1.6.3 UAE Benzoic Acid Market Estimates and Forecasts, By End-use (2020-2032) (USD Billion)
10.5.1.7 Egypt
10.5.1.7.1 Egypt Benzoic Acid Market Estimates and Forecasts, By Form (2020-2032) (USD Billion)
10.5.1.7.2 Egypt Benzoic Acid Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.5.1.7.3 Egypt Benzoic Acid Market Estimates and Forecasts, By End-use (2020-2032) (USD Billion)
10.5.1.8 Saudi Arabia
10.5.1.8.1 Saudi Arabia Benzoic Acid Market Estimates and Forecasts, By Form (2020-2032) (USD Billion)
10.5.1.8.2 Saudi Arabia Benzoic Acid Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.5.1.8.3 Saudi Arabia Benzoic Acid Market Estimates and Forecasts, By End-use (2020-2032) (USD Billion)
10.5.1.9 Qatar
10.5.1.9.1 Qatar Benzoic Acid Market Estimates and Forecasts, By Form (2020-2032) (USD Billion)
10.5.1.9.2 Qatar Benzoic Acid Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.5.1.9.3 Qatar Benzoic Acid Market Estimates and Forecasts, By End-use (2020-2032) (USD Billion)
10.5.1.10 Rest of Middle East
10.5.1.10.1 Rest of Middle East Benzoic Acid Market Estimates and Forecasts, By Form (2020-2032) (USD Billion)
10.5.1.10.2 Rest of Middle East Benzoic Acid Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.5.1.10.3 Rest of Middle East Benzoic Acid Market Estimates and Forecasts, By End-use (2020-2032) (USD Billion)
10.5.2 Africa
10.5.2.1 Trends Analysis
10.5.2.2 Africa Benzoic Acid Market Estimates and Forecasts, by Country (2020-2032) (USD Billion)
10.5.2.3 Africa Benzoic Acid Market Estimates and Forecasts, By Form (2020-2032) (USD Billion)
10.5.2.4 Africa Benzoic Acid Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.5.2.5 Africa Benzoic Acid Market Estimates and Forecasts, By End-use (2020-2032) (USD Billion)
10.5.2.6 South Africa
10.5.2.6.1 South Africa Benzoic Acid Market Estimates and Forecasts, By Form (2020-2032) (USD Billion)
10.5.2.6.2 South Africa Benzoic Acid Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.5.2.6.3 South Africa Benzoic Acid Market Estimates and Forecasts, By End-use (2020-2032) (USD Billion)
10.5.2.7 Nigeria
10.5.2.7.1 Nigeria Benzoic Acid Market Estimates and Forecasts, By Form (2020-2032) (USD Billion)
10.5.2.7.2 Nigeria Benzoic Acid Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.5.2.7.3 Nigeria Benzoic Acid Market Estimates and Forecasts, By End-use (2020-2032) (USD Billion)
10.5.2.8 Rest of Africa
10.5.2.8.1 Rest of Africa Benzoic Acid Market Estimates and Forecasts, By Form (2020-2032) (USD Billion)
10.5.2.8.2 Rest of Africa Benzoic Acid Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.5.2.8.3 Rest of Africa Benzoic Acid Market Estimates and Forecasts, By End-use (2020-2032) (USD Billion)
10.6 Latin America
10.6.1 Trends Analysis
10.6.2 Latin America Benzoic Acid Market Estimates and Forecasts, by Country (2020-2032) (USD Billion)
10.6.3 Latin America Benzoic Acid Market Estimates and Forecasts, By Form (2020-2032) (USD Billion)
10.6.4 Latin America Benzoic Acid Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.6.5 Latin America Benzoic Acid Market Estimates and Forecasts, By End-use (2020-2032) (USD Billion)
10.6.6 Brazil
10.6.6.1 Brazil Benzoic Acid Market Estimates and Forecasts, By Form (2020-2032) (USD Billion)
10.6.6.2 Brazil Benzoic Acid Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.6.6.3 Brazil Benzoic Acid Market Estimates and Forecasts, By End-use (2020-2032) (USD Billion)
10.6.7 Argentina
10.6.7.1 Argentina Benzoic Acid Market Estimates and Forecasts, By Form (2020-2032) (USD Billion)
10.6.7.2 Argentina Benzoic Acid Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.6.7.3 Argentina Benzoic Acid Market Estimates and Forecasts, By End-use (2020-2032) (USD Billion)
10.6.8 Colombia
10.6.8.1 Colombia Benzoic Acid Market Estimates and Forecasts, By Form (2020-2032) (USD Billion)
10.6.8.2 Colombia Benzoic Acid Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.6.8.3 Colombia Benzoic Acid Market Estimates and Forecasts, By End-use (2020-2032) (USD Billion)
10.6.9 Rest of Latin America
10.6.9.1 Rest of Latin America Benzoic Acid Market Estimates and Forecasts, By Form (2020-2032) (USD Billion)
10.6.9.2 Rest of Latin America Benzoic Acid Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.6.9.3 Rest of Latin America Benzoic Acid Market Estimates and Forecasts, By End-use (2020-2032) (USD Billion)
11. Company Profiles
11.1 Chemcrux Enterprises Ltd
11.1.1 Company Overview
11.1.2 Financial
11.1.3 Products/ Services Offered
11.1.4 SWOT Analysis
11.2 Merck KGaA
11.2.1 Company Overview
11.2.2 Financial
11.2.3 Products/ Services Offered
11.2.4 SWOT Analysis
11.3 LANXESS
11.3.1 Company Overview
11.3.2 Financial
11.3.3 Products/ Services Offered
11.3.4 SWOT Analysis
11.4 Thermo Fisher Scientific Inc.
11.4.1 Company Overview
11.4.2 Financial
11.4.3 Products/ Services Offered
11.4.4 SWOT Analysis
11.5 Ganesh Benzoplast Limited
11.5.1 Company Overview
11.5.2 Financial
11.5.3 Products/ Services Offered
11.5.4 SWOT Analysis
11.6 Fushimi
11.6.1 Company Overview
11.6.2 Financial
11.6.3 Products/ Services Offered
11.6.4 SWOT Analysis
11.7 I G Petrochemicals Ltd.
11.7.1 Company Overview
11.7.2 Financial
11.7.3 Products/ Services Offered
11.7.4 SWOT Analysis
11.8 Hemadri Chemicals
11.8.1 Company Overview
11.8.2 Financial
11.8.3 Products/ Services Offered
11.8.4 SWOT Analysis
11.9 Eastman Chemical Company
11.9.1 Company Overview
11.9.2 Financial
11.9.3 Products/ Services Offered
11.9.4 SWOT Analysis
11.10 GFS Chemicals Inc.
11.10.1 Company Overview
11.10.2 Financial
11.10.3 Products/ Services Offered
11.10.4 SWOT Analysis
12. Use Cases and Best Practices
13. Conclusion
An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.
Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.
The 5 steps process:
Step 1: Secondary Research:
Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.
Step 2: Primary Research
When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data. This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.
We at SNS Insider have divided Primary Research into 2 parts.
Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.
This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.
Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.
Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.
Step 3: Data Bank Validation
Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.
Step 4: QA/QC Process
After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.
Step 5: Final QC/QA Process:
This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.
By Form
Liquid
Anhydrous
By Application
Sodium Benzoate
Benzyl Benzoate
Potassium Benzoate
Benzoate Plasticizers
Benzoyl Chloride
Alkyd Resin
Feed Additives
Others
By End-use
Food & Beverage
Chemical
Cosmetics and Personal Care
Pharmaceuticals
Others
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Regional Coverage
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US
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Rest of Eastern Europe
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Netherlands
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Rest of Western Europe
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Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
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Saudi Arabia
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Rest of the Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
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Rest of Latin America
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With the given market data, SNS Insider offers customization as per the company’s specific needs. The following customization options are available for the report:
Product Analysis
Criss-Cross segment analysis (e.g. Product X Application)
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Geographic Analysis
Additional countries in any of the regions
Company Information
Detailed analysis and profiling of additional market players (Up to five)
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