Asia Pacific Benzoic Acid Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Application (Food Preservatives, Corrosive Inhibitor, Alkyd Resins, Synthesis Intermediates, Plasticizers, Feed Additives, and Others)
The Asia Pacific benzoic acid market is expected to grow from US$ 528,082.57 thousand in 2021 to US$ 798,397.81 thousand by 2028; it is estimated to register a CAGR of 6.1% from 2021 to 2028.
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.
Asia Pacific Benzoic Acid Market Revenue and Forecast to 2028 (US$ Thousand)
Asia Pacific Benzoic Acid Market Segmentation
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.
1. Introduction
1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation
1.2.1 APAC Benzoic Acid Market, by Application
1.2.2 APAC Benzoic Acid Market, by Country
2. Key Takeaways
3. Research Methodology
3.1 Scope of the Study
3.1.1 Benzoic Acid Market, by Application
3.2 Research Methodology
3.2.1 Data Collection:
3.2.2 Primary Interviews:
3.2.3 Hypothesis formulation:
3.2.4 Macro-economic factor analysis:
3.2.5 Developing base number:
3.2.6 Data Triangulation:
3.2.7 Country level data:
4. APAC Benzoic Acid Market Landscape
4.1 Market Overview
4.2 Porter’s Five Forces Analysis
4.2.1 Threat of New Entrants:
4.2.2 Bargaining Power of Suppliers:
4.2.3 Bargaining Power of Buyers:
4.2.4 Competitive Rivalry:
4.2.5 Threat of Substitutes:
4.3 ECOSYSTEM ANALYSIS
4.4 Ecosystem Analysis
4.4.1 Raw Material Suppliers:
4.4.2 Manufacturers:
4.4.3 Distributors/Suppliers
4.4.4 Application:
4.5 Expert Opinion
5. APAC Benzoic Acid Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Growing Demand for Benzoic Acid from Food & Beverages Industry
5.1.2 Increasing Use of Benzoic Acid as an Intermediate in the Synthesis of Different Products
5.2 Market Restraints
5.2.1 Rising Volatility in Raw Material Prices
5.3 Market Opportunities
5.3.1 Increasing Growth of Cosmetic Industry
5.4 Future Trends
5.4.1 Replacement of Phthalate Plasticizers with Non-Phthalate Plasticizers
5.5 Impact Analysis of Drivers and Restraints
6. Benzoic Acid Market – APAC Market Analysis
6.1 APAC Benzoic Acid Market –Revenue and Forecast to 2028 (US$ Thousand)
6.2 APAC Benzoic Acid Market –Volume and Forecast to 2028 (Tons)
7. APAC Benzoic Acid Market Analysis – By Application
7.1 Overview
7.2 Benzoic Acid Market, By Application (2020 and 2028)
7.3 Food Preservatives
7.3.1 Overview
7.3.2 Food Preservatives: Benzoic Acid Market – Revenue and Forecast to 2028 (US$ Thousand)
7.3.3 Food Preservatives: Benzoic Acid Market – Volume and Forecast to 2028 (Tons)
7.4 Corrosive Inhibitors
7.4.1 Overview
7.4.2 Corrosive Inhibitors: Benzoic Acid Market – Revenue and Forecast to 2028 (US$ Thousand)
7.4.3 Corrosive Inhibitors: Benzoic Acid Market – Volume and Forecast to 2028 (Tons)
7.5 Alkyd Resins
7.5.1 Overview
7.5.2 Alkyd Resins: Benzoic Acid Market – Revenue and Forecast to 2028 (US$ Thousand)
7.5.3 Alkyd Resins: Benzoic Acid Market – Volume and Forecast to 2028 (Tons)
7.6 Synthesis Intermediates
7.6.1 Overview
7.6.2 Synthesis Intermediates: Benzoic Acid Market – Revenue and Forecast to 2028 (US$ Thousand)
7.6.3 Synthesis Intermediates: Benzoic Acid Market – Volume and Forecast to 2028 (Tons)
7.7 Plasticizers
7.7.1 Overview
7.7.2 Plasticizers: Benzoic Acid Market – Revenue and Forecast to 2028 (US$ Thousand)
7.7.3 Plasticizers: Benzoic Acid Market – Volume and Forecast to 2028 (Tons)
7.8 Feed Additives
7.8.1 Overview
7.8.2 Feed Additives: Benzoic Acid Market – Revenue and Forecast to 2028 (US$ Thousand)
7.8.3 Feed Additives: Benzoic Acid Market – Volume and Forecast to 2028 (Tons)
7.9 Others
7.9.1 Overview
7.9.2 Others: Benzoic Acid Market – Revenue and Forecast to 2028 (US$ Thousand)
7.9.3 Others: Benzoic Acid Market – Volume and Forecast to 2028 (Tons)
8. APAC Benzoic Acid Market – Country Analysis
8.1 Asia Pacific: Benzoic Acid Market
8.1.1 Asia Pacific: Benzoic Acid Market, by Key Country
8.1.1.1 Australia: Benzoic Acid Market –Revenue and Forecast to 2028 (US$ Thousand)
8.1.1.1.1 Australia: Benzoic Acid Market, by Application
8.1.1.2 China: Benzoic Acid Market –Revenue and Forecast to 2028 (US$ Thousand)
8.1.1.3 China: Benzoic Acid Market –Volume and Forecast to 2028 (Tons)
8.1.1.3.1 China: Benzoic Acid Market, by Application
8.1.1.4 India: Benzoic Acid Market –Revenue and Forecast to 2028 (US$ Thousand)
8.1.1.5 India: Benzoic Acid Market –Volume and Forecast to 2028 (Tons)
8.1.1.5.1 India: Benzoic Acid Market, by Application
8.1.1.6 Japan: Benzoic Acid Market –Revenue and Forecast to 2028 (US$ Thousand)
8.1.1.7 Japan: Benzoic Acid Market –Volume and Forecast to 2028 (Tons)
8.1.1.7.1 Japan: Benzoic Acid Market, by Application
8.1.1.8 South Korea: Benzoic Acid Market –Revenue and Forecast to 2028 (US$ Thousand)
8.1.1.9 South Korea: Benzoic Acid Market –Volume and Forecast to 2028 (Tons)
8.1.1.9.1 South Korea: Benzoic Acid Market, by Application
8.1.1.10 Rest of Asia Pacific: Benzoic Acid Market –Revenue and Forecast to 2028 (US$ Thousand)
8.1.1.11 Rest of Asia Pacific: Benzoic Acid Market –Volume and Forecast to 2028 (Tons)
8.1.1.11.1 Rest of Asia Pacific: Benzoic Acid Market, by Application
9. Industry Landscape
9.1 Merger & Acquisition
10. Company Profiles
10.1 Eastman Chemical Company
10.1.1 Key Facts
10.1.2 Business Description
10.1.3 Products and Services
10.1.4 Financial Overview
10.1.5 SWOT Analysis
10.1.6 Key Developments
10.2 Foodchem International Corporation
10.2.1 Key Facts
10.2.2 Business Description
10.2.3 Products and Services
10.2.4 Financial Overview
10.2.5 SWOT Analysis
10.2.6 Key Developments
10.3 A.M FOOD CHEMICAL CO., LIMITED
10.3.1 Key Facts
10.3.2 Business Description
10.3.3 Products and Services
10.3.4 Financial Overview
10.3.5 SWOT Analysis
10.3.6 Key Developments
10.4 OASIS FINE CHEM
10.4.1 Key Facts
10.4.2 Business Description
10.4.3 Products and Services
10.4.4 Financial Overview
10.4.5 SWOT Analysis
10.4.6 Key Developments
10.5 Spectrum Chemical
10.5.1 Key Facts
10.5.2 Business Description
10.5.3 Products and Services
10.5.4 Financial Overview
10.5.5 SWOT Analysis
10.5.6 Key Developments
10.6 LANXESS
10.6.1 Key Facts
10.6.2 Business Description
10.6.3 Products and Services
10.6.4 Financial Overview
10.6.5 SWOT Analysis
10.6.6 Key Developments
10.7 MERCK KGaA
10.7.1 Key Facts
10.7.2 Business Description
10.7.3 Products and Services
10.7.4 Financial Overview
10.7.5 SWOT Analysis
10.7.6 Key Developments
10.8 Tianjin Dongda Chemical Group Co.
10.8.1 Key Facts
10.8.2 Business Description
10.8.3 Products and Services
10.8.4 Financial Overview
10.8.5 SWOT Analysis
10.8.6 Key Developments
10.9 I G Petrochemicals Ltd. (IGPL)
10.9.1 Key Facts
10.9.2 Business Description
10.9.3 Products and Services
10.9.4 Financial Overview
10.9.5 SWOT Analysis
10.9.6 Key Developments
11. Appendix
11.1 About The Insight Partners
11.2 Glossary of Terms
LIST OF TABLES
Table 1. APAC Benzoic Acid Market –Revenue and Forecast to 2028 (US$ Mn)
Table 2. APAC Benzoic Acid Market –Volume and Forecast to 2028 (Tons)
Table 3. Australia Benzoic Acid Market, by Application– Revenue and Forecast to 2028 (US$ Thousand)
Table 4. Australia Benzoic Acid Market, by Application– Volume and Forecast to 2028 (Tons)
Table 5. China Benzoic Acid Market, by Application – Revenue and Forecast to 2028 (US$ Thousand)
Table 6. China Benzoic Acid Market, by Application – Volume and Forecast to 2028 (Tons)
Table 7. India Benzoic Acid Market, by Application – Revenue and Forecast to 2028 (US$ Thousand)
Table 8. India Benzoic Acid Market, by Application – Volume and Forecast to 2028 (Tons)
Table 9. Japan Benzoic Acid Market, by Application – Revenue and Forecast to 2028 (US$ Thousand)
Table 10. Japan Benzoic Acid Market, by Application – Volume and Forecast to 2028 (Tons)
Table 11. South Korea Benzoic Acid Market, by Application – Revenue and Forecast to 2028 (US$ Thousand)
Table 12. South Korea Benzoic Acid Market, by Application – Volume and Forecast to 2028 (Tons)
Table 13. Rest of Asia Pacific Benzoic Acid Market, by Application – Revenue and Forecast to 2028 (US$ Thousand)
Table 14. Rest of Asia Pacific Benzoic Acid Market, by Application – Volume and Forecast to 2028 (Tons)
Table 15. Glossary of Terms, APAC benzoic acid market
LIST OF FIGURES
Figure 1. APAC Benzoic Acid Market Segmentation
Figure 2. APAC Benzoic Acid Market Segmentation – By Country
Figure 3. APAC Benzoic Acid Market Overview
Figure 4. APAC Benzoic Acid Market, By Application
Figure 5. APAC Benzoic Acid Market, By Country
Figure 6. APAC Porter’s Five Forces Analysis
Figure 7. APAC Benzoic Acid Market, Ecosystem
Figure 8. APAC Expert Opinion
Figure 9. APAC benzoic acid market Impact Analysis of Drivers and Restraints
Figure 10. APAC Benzoic Acid Market – Revenue and Forecast to 2028 (US$ Thousand)
Figure 11. APAC Benzoic Acid Market – Volume and Forecast to 2028 (Tons)
Figure 12. APAC Benzoic Acid Market Revenue Share, By Application (2020 and 2028)
Figure 13. APAC Food Preservatives: Benzoic Acid Market – Revenue and Forecast To 2028 (US$ Thousand)
Figure 14. APAC Food Preservatives: Benzoic Acid Market – Volume and Forecast To 2028 (Tons)
Figure 15. APAC Corrosive Inhibitors : Benzoic Acid Market – Revenue and Forecast To 2028 (US$ Thousand)
Figure 16. APAC Corrosive Inhibitors : Benzoic Acid Market – Volume and Forecast To 2028 (Tons)
Figure 17. APAC Alkyd Resins: Benzoic Acid Market – Revenue and Forecast To 2028 (US$ Thousand)
Figure 18. APAC Alkyd Resins: Benzoic Acid Market – Volume and Forecast To 2028 (Tons)
Figure 19. APAC Synthesis Intermediates: Benzoic Acid Market – Revenue and Forecast To 2028 (US$ Thousand)
Figure 20. APAC Synthesis Intermediates: Benzoic Acid Market – Volume and Forecast To 2028 (Tons)
Figure 21. APAC Plasticizers: Benzoic Acid Market – Revenue and Forecast To 2028 (US$ Thousand)
Figure 22. APAC Plasticizers: Benzoic Acid Market – Volume and Forecast To 2028 (Tons)
Figure 23. APAC Feed Additives : Benzoic Acid Market – Revenue and Forecast To 2028 (US$ Thousand)
Figure 24. APAC Feed Additives : Benzoic Acid Market – Volume and Forecast To 2028 (Tons)
Figure 25. APAC Others: Benzoic Acid Market – Revenue and Forecast To 2028 (US$ Thousand)
Figure 26. APAC Others: Benzoic Acid Market – Volume and Forecast To 2028 (Tons)
Figure 27. Asia Pacific: Benzoic Acid Market Revenue, by Key Country (2020 and 2028)
Figure 28. Asia Pacific: Benzoic Acid Market Revenue , by Key Country (2020 and 2028)
Figure 29. Australia: Benzoic Acid Market –Revenue and Forecast to 2028 (US$ Thousand)
Figure 30. Australia: Benzoic Acid Market –Volume and Forecast to 2028 (Tons)
Figure 31. China: Benzoic Acid Market –Revenue and Forecast to 2028 (US$ Thousand)
Figure 32. China: Benzoic Acid Market – Volume and Forecast to 2028 (Tons)
Figure 33. India: Benzoic Acid Market –Revenue and Forecast to 2028 (US$ Thousand)
Figure 34. India: Benzoic Acid Market –Volume and Forecast to 2028 (Tons)
Figure 35. Japan: Benzoic Acid Market –Revenue and Forecast to 2028 (US$ Thousand)
Figure 36. Japan: Benzoic Acid Market –Volume and Forecast to 2028 (Tons)
Figure 37. South Korea: Benzoic Acid Market –Revenue and Forecast to 2028 (US$ Thousand)
Figure 38. South Korea: Benzoic Acid Market –Volume and Forecast to 2028 (Tons)
Figure 39. Rest of Asia Pacific: Benzoic Acid Market –Revenue and Forecast to 2028 (US$ Thousand)
Figure 40. Rest of Asia Pacific: Benzoic Acid Market –Volume and Forecast to 2028 (Tons)
- Eastman Chemical Company.
- Foodchem International Corporation.
- A.M Food CHEMICAL Co. Limited.
- OASIS FINE CHEM.
- Spectrum chemicals.
- LANXESS.
- MERCK KGaA.
- Tiajin Dongda Chemical Groupe Co.
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Asia Pacific Benzoic Acid market forecast.
- Highlights key business priorities in order to assist companies to realign their business strategies.
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- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth Asia Pacific market trends and outlook coupled with the factors driving the benzoic acid market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution.