Dec 20, 2018   SOURCE: BusinessWire

Global Benzoic Acid Markets: Outlook to 2023: Led by Eastman Chemical, Emerald Performance Materials, I G Petrochemicals, Liaoning Huayi Chemical Industry & Commerce and Tianjin Dongda Chemical Group - ResearchAndMarkets.com

The "Global Benzoic Acid Market 2019-2023" report has been added to ResearchAndMarkets.com's offering.

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.

Market Trends

  • Rising Demand for Processed & Packaged Food
  • Capacity Expansions and Development of New Products
  • Advances in the Recovery 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

1. Executive Summary

2. Scope of the Report

3. Market Landscape

4. Market Sizing

5. Five Forces Analysis

6. Market Segmentation by Application

7. Customer Landscape

8. Geographic Landscape

9. Decision Framework

10. Drivers and Challenges

11. Market Trends

12. Vendor Landscape

13. Vendor Analysis

For more information about this report visit https://www.researchandmarkets.com/research/c3t7lc/global_benzoic?w=4