Benzoic acid is one of the most important ingredients used in various cosmetic products due to its ability to preserve the product and normalize the pH value. Benzoic acid is present in several products, such as perfume, lip balm, lipstick, facial masks, mascara, eye shadow, and makeup remover. Further, there is a growth in the use of different cosmetic products among men and women. Moreover, cosmetic product manufacturers are focusing on strategies such as product branding, advertising, and new product launching to raise the sales of cosmetics products. Thus, the factors mentioned above are contributing to the strong growth of the cosmetics industry. Moreover, in India, improving socio-economic standards and large-scale development of digital & manufacturing sectors result in an increasing demand for cosmetic products. The cosmetics industry is growing faster, with more people living across APAC buying personal care and beauty products. Hence, the strong growth of the cosmetic industry in different countries of APAC will provide more opportunities for the benzoic acid market growth.
The Asia Pacific benzoic acid market is bifurcated into application and country. Based on application, the Asia Pacific benzoic acid market is segmented into food preservatives, corrosive inhibitor, alkyd resins, synthesis intermediates, plasticizers, feed additives, and others. The synthesis intermediates segment dominated the market in 2020. Based on country, the Asia Pacific benzoic acid market is segmented into Australia, China, India, Japan, South Korea, and the Rest of APAC. China dominated the market in 2020.
Eastman Chemical Company, Foodchem International Corporation, A.M Food CHEMICAL Co. Limited, OASIS FINE CHEM, Spectrum chemicals, LANXESS, MERCK KGaA, and Tiajin Dongda Chemical Groupe Co are among the leading companies operating in the Asia Pacific benzoic acid market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 528,082.57 thousand |
| Market Size by 2028 | US$ 798,397.81 thousand |
| CAGR (2021 - 2028) | 6.1% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Application
|
| Regions and Countries Covered |
Asia-Pacific
|
| Market leaders and key company profiles |
|
The Asia Pacific Benzoic Acid Market is valued at US$ 528,082.57 thousand in 2021, it is projected to reach US$ 798,397.81 thousand by 2028.
As per our report Asia Pacific Benzoic Acid Market, the market size is valued at US$ 528,082.57 thousand in 2021, projecting it to reach US$ 798,397.81 thousand by 2028. This translates to a CAGR of approximately 6.1% during the forecast period.
The Asia Pacific Benzoic Acid Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific Benzoic Acid Market report:
The Asia Pacific Benzoic Acid Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia Pacific Benzoic Acid Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia Pacific Benzoic Acid Market value chain can benefit from the information contained in a comprehensive market report.
Please tell us your area of interest
(Market Segments/ Regions and Countries/ Companies)
E 1803, Panchshil Towers,
Wagholi, Haveli,
Pune - 412207,
Maharashtra, India
US:+16467917070
sales@businessmarketinsights.com
Get Free Sample For Asia Pacific Benzoic Acid Market
