Benzenecarboxylic Acid Market was valued at USD 948.60 million in 2021 and is expected to reach USD 1444.80 million by 2029, registering a CAGR of 5.40% during the forecast period of 2022-2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario. A carboxylic acid with antibacterial and antifungal effects is benzenecarboxylic acid. It can be found in various fruits, including cranberries, raspberries, and plums. Its capacity to protect against mould and yeast makes it appealing to the food and beverage business.
Top Key players in Global Benzenecarboxylic Acid Market Report:
LANXESS (U.S.), Dongda (China), LiaoNing Huayi Chemical Industry & Commerce Co. Ltd., (China), Novaphene (India), HUANGSHI TAIHUA INDUSTRY CO. LTD. (China), Shri Hari Chemicals (India), Sinteza (Romania), Chemcrux Enterprises Ltd. (India), FUSHIMI Pharmaceutical Co., Ltd. (Japan), San Fu Chemical Co., Ltd. (Taiwan), DOW (U.S.), DuPont (U.S.), Apollo Scientific Ltd (U.S.), Clarion Drugs Ltd. (India), Ganesh Benzoplast Limited (India) and Shanghai Danfan Network Science&Technology Co., Ltd. (China)
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COVID-19 Impact on Benzenecarboxylic Acid Market
The outbreak of coronavirus had a negative impact on the benzenecarboxylic acid market. Due to supply chain and logistics concerns, the COVID-19 crisis created multiple barriers for chemical makers. In addition, several manufacturing facilities were compelled to close or operate at reduced capacity, resulting in decreasing material production. Several obstacles for the benzoic acid business may have arisen due to a labor shortage caused by regulatory limitations. However, sales of packaged goods and beverages have remained stable, and in some cases have even increased, as a result of panic shopping by consumers ahead of the lockdown restrictions. When retail stores and outlets were forced to close or function for a short time, packaged food sales continued to rise as more consumers in emerging countries turned to online shopping channels. Because of a labour shortage, the production of processed foods and beverages was halted, lowering demand for benzoic acid, which is utilized as a preservative in these products. When all other businesses are in turmoil, the pharmaceutical industry, on the other hand, is still operating normally. Because benzoic acid is used in the treatment of antifungal diseases, there is still a demand for it even in this time of crisis.
Recent Development
- In August 2020, Emerald Kalama Chemical was acquired by LANXESS, a specialized chemicals firm. The company is based in the United States and is a world-leading maker of speciality chemicals. On February 14, 2021, LANXESS signed a purchase deal. All of the necessary regulatory approvals have been obtained. LANXESS used liquid funds to support the purchase price of USD 1.04 billion (EUR 870 million).
Global Benzenecarboxylic Acid Market Scope
The benzenecarboxylic acid market is segmented on the basis of product method, application and end-use. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product Method
- Grignard reagents
- Friedel-Crafts reaction
- Others
On the basis of product method, the benzenecarboxylic acid market has been segmented into grignard reagents, friedel-crafts reaction and others.
Application
- Sodium Benzoate
- Potassium Benzoate
- Benzyl Benzoate
- Benzoate Plasticizer
- Alkyd Resin
- Benzoyl Chloride
- Feed Additive
- Others
The benzenecarboxylic acid market has also been segmented on the basis of form into sodium benzoate, potassium benzoate, benzyl benzoate, benzoate plasticizer, alkyd resin, benzoyl chloride, feed additive and others.
End-Use
- Food and Beverages
- Chemical Industry
- Pharmaceutical Industry
- Others
On the basis of end-use, the benzenecarboxylic acid market is segmented into food and beverages, chemical industry, pharmaceutical industry and others.
Goals and Market Study of the Benzenecarboxylic Acid Market
Understanding the opportunities and progress of the Global Benzenecarboxylic Acid Market market highlights, as well as key regions and countries involved in market growth.
Study the different segments of the Benzenecarboxylic Acid Market and the dynamics of the Global Benzenecarboxylic Acid Market.
Categorize Global Benzenecarboxylic Acid Market segments with increasing growth potential and evaluate the futuristic segment market
To analyze the most important trends related to the different segments that help to decipher and convince the Global Benzenecarboxylic Acid Market market.
To verify region-specific growth and development in the Global Benzenecarboxylic Acid Market market.
Understand the key stakeholders in the Global Benzenecarboxylic Acid Market market and the value of the competitive image of the Global Benzenecarboxylic Acid Market market leaders.
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Benzenecarboxylic Acid Market Regional Analysis/Insights
The benzenecarboxylic acid market is analysed and market size insights and trends are provided by country, product method, application and end-use as referenced above.
The countries covered in the benzenecarboxylic acid market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the benzenecarboxylic acid market because of the extensive application in various end-user industries. Additionally, the per capita consumption of plastic is high in India and China, which in turn has increased the use of plasticizers resulting in market acceleration.
Key questions answered in the report:
What will the market development pace of the Benzenecarboxylic Acid market?
What are the key factors driving the Global Benzenecarboxylic Acid market?
Who are the key manufacturers in the market space?
What are the market openings, market hazards and market outline of the market?
What are the sales, revenue, and price analysis of the top manufacturers of the Benzenecarboxylic Acid market?
Who are the distributors, traders, and dealers of the Benzenecarboxylic Acid market?
What are the Benzenecarboxylic Acid market opportunities and threats faced by the vendors in the Global Benzenecarboxylic Acid industries?
What are deals, income, and value examination by types and utilizations of the market?
What are deals, income, and value examination by areas of enterprises?
Major Points Covered in TOC:
Benzenecarboxylic Acid Market Overview: It incorporates six sections, research scope, significant makers covered, market fragments by type, Benzenecarboxylic Acid market portions by application, study goals, and years considered.
Benzenecarboxylic Acid Market Landscape: Here, the opposition in the Worldwide Benzenecarboxylic Acid Market is dissected, by value, income, deals, and piece of the pie by the organization, market rate, circumstances Landscape, and most recent patterns, consolidation, development, obtaining, and portions of the overall industry of top organizations.
Benzenecarboxylic Acid Profiles of Manufacturers: Here, driving players of the worldwide Benzenecarboxylic Acid market are considered dependent on deals region, key items, net edge, income, cost, and creation.
Benzenecarboxylic Acid Market Status and Outlook by Region: In this segment, the report examines about net edge, deals, income, creation, portion of the overall industry, CAGR, and market size by locale. Here, the worldwide Benzenecarboxylic Acid Market is profoundly examined based on areas and nations like North America, Europe, China, India, Japan, and the MEA.
Benzenecarboxylic Acid Application or End User: This segment of the exploration study shows how extraordinary end-client/application sections add to the worldwide Benzenecarboxylic Acid Market.
Benzenecarboxylic Acid Market Forecast: Production Side: In this part of the report, the authors have focused on production and production value forecast, key producers forecast, and production and production value forecast by type.
Benzenecarboxylic Acid Research Findings and Conclusion: This is one of the last segments of the report where the discoveries of the investigators and the finish of the exploration study are given.
To study key plans, initiatives and strategies for the development of the Global Benzenecarboxylic Acid Market market.
TOC of This Report @ https://www.databridgemarketresearch.com/toc/?dbmr=global-benzenecarboxylic-acid-market
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