Global Benzoic Acid Market Analysis 2019-2023 - The Extensive Use of Benzoic Acid in APAC is Driving Growth

DUBLIN, Dec. 19, 2018 /PRNewswire/ --

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The benzoic acid market will register a CAGR of more than 6% by 2023.

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.

Key Players

• Eastman Chemical Company
• Emerald Performance Materials
• I G Petrochemicals
• Liaoning Huayi Chemical Industry & Commerce
• Tianjin Dongda Chemical Group

Topics Covered

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

PART 05: FIVE FORCES ANALYSIS

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

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
  

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