North America 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)

Code: BMIRE00025229 | Pages: 50 | Industry: Chemicals and Materials | Date: Jun 2022
Covid

The North America benzoic acid market is expected to grow from US$ 161,024.79 thousand in 2021 to US$ 230,631.53 thousand by 2028; it is estimated to register a CAGR of 5.3% from 2021 to 2028.

 

Benzoic acid is commonly used as a food preservative in different food products, such as jams, jelly, marmalade, coffee extract, cooked pork, sauce, and different syrups, as it can prevent the growth of bacteria and fungus. Further, food preservation is necessary to increase the shelf life of food products. Moreover, sodium benzoate is derived from benzoic acid, and it is commonly used as a food preservative. Sodium benzoate is most effective in low acid foods and beverages and baked goods such as bread, cakes, and pies. There is increasing use of sodium benzoate as an effective preservative in various baked products due to the activity against molds responsible for spoilage of most baked products. The demand for different bakery products is increasing due to the convenience, accessibility, and nutrition profile associated with these products. Moreover, with the launch of innovative products, the bakery industry is constantly evolving. These factors contribute to the high demand for sodium benzoate as a preservative for various baked products. Further, with the growing preference for a healthy diet, rapid economic developments, and increasing per capita income, the demand for different processed and packaged food products is rising. Thus, the North America benzoic acid market is growing with the increasing prominence of benzoic acid in the food & beverage industry.

 

North America Benzoic Acid Market Revenue and Forecast to 2028 (US$ Thousand)

North America Benzoic Acid Market Revenue and Forecast to 2028 (US$ Thousand)

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North America Benzoic Acid Market Segmentation

 

The North America benzoic acid market is bifurcated into application and country. Based on application, the North America 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 North America benzoic acid market segmented into the US, Mexico, and Canada. The US 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 North America benzoic acid market.

 

1.           Introduction

1.1         The Insight Partners Research Report Guidance

1.2         Market Segmentation

1.2.1        North America Benzoic Acid Market, by Application

1.2.2        North America 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.           North America 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.           North America 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 – North America Market Analysis

6.1         North America Benzoic Acid Market –Revenue and Forecast to 2028 (US$ Thousand)

6.2         North America Benzoic Acid Market –Volume and Forecast to 2028 (Tons)

7.           North America 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.           North America Benzoic Acid Market – Country Analysis

8.1         North America: Benzoic Acid Market

8.1.1        North America: Benzoic Acid Market, by Key Country

8.1.1.1          US: Benzoic Acid Market–Analysis and Forecast to 2028 (US$ Thousand)

8.1.1.1.1          US: Benzoic Acid Market, by Application

8.1.1.2          Canada: Benzoic Acid Market–Analysis and Forecast to 2028 (US$ Thousand)

8.1.1.2.1          Canada: Benzoic Acid Market, by Application

8.1.1.3          Mexico: Benzoic Acid Market–Revenue and Forecast to 2028 (US$ Thousand)

8.1.1.3.1          Mexico: 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      Spectrum Chemical

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      LANXESS

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      MERCK KGaA

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      Tianjin Dongda Chemical Group Co.

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

11.        Appendix

11.1      About The Insight Partners

11.2      Glossary of Terms

 


LIST OF TABLES

Table 1.             North America Benzoic Acid Market –Revenue and Forecast to 2028 (US$ Mn)

Table 2.             North America Benzoic Acid Market –Volume and Forecast to 2028 (Tons)

Table 3.             US: Benzoic Acid Market, by Application – Revenue and Forecast to 2028 (US$ Thousand)

Table 4.             US: Benzoic Acid Market, by Application – Volume and Forecast to 2028 (Tons)

Table 5.             Canada: Benzoic Acid Market, by Application – Revenue and Forecast to 2028 (USD Thousand)

Table 6.             Canada: Benzoic Acid Market, by Application – Volume and Forecast to 2028 (Tons)

Table 7.             Mexico Benzoic Acid Market, by Application – Revenue and Forecast to 2028 (US$ Thousand)

Table 8.             Mexico Benzoic Acid Market, by Application – Volume and Forecast to 2028 (Tons)

Table 9.             Glossary of Terms, North America benzoic acid market

 


LIST OF FIGURES

Figure 1.           North America Benzoic Acid Market Segmentation

Figure 2.           North America Benzoic Acid Market Segmentation – By Country

Figure 3.           North America Benzoic Acid Market Overview

Figure 4.           North America Benzoic Acid Market, By Application

Figure 5.           North America Benzoic Acid Market, By Country

Figure 6.           North America Porter’s Five Forces Analysis

Figure 7.           North America Benzoic Acid Market, Ecosystem

Figure 8.           North America Expert Opinion

Figure 9.           North America benzoic acid market Impact Analysis of Drivers and Restraints

Figure 10.        North America Benzoic Acid Market – Revenue and Forecast to 2028 (US$ Thousand)

Figure 11.        North America Benzoic Acid Market – Volume and Forecast to 2028 (Tons)

Figure 12.        North America Benzoic Acid Market Revenue Share, By Application (2020 and 2028)

Figure 13.        North America Food Preservatives: Benzoic Acid Market – Revenue and Forecast To 2028 (US$ Thousand)

Figure 14.        North America Food Preservatives: Benzoic Acid Market – Volume and Forecast To 2028 (Tons)

Figure 15.        North America Corrosive Inhibitors : Benzoic Acid Market – Revenue and Forecast To 2028 (US$ Thousand)

Figure 16.        North America Corrosive Inhibitors : Benzoic Acid Market – Volume and Forecast To 2028 (Tons)

Figure 17.        North America Alkyd Resins: Benzoic Acid Market – Revenue and Forecast To 2028 (US$ Thousand)

Figure 18.        North America Alkyd Resins: Benzoic Acid Market – Volume and Forecast To 2028 (Tons)

Figure 19.        North America Synthesis Intermediates: Benzoic Acid Market – Revenue and Forecast To 2028 (US$ Thousand)

Figure 20.        North America Synthesis Intermediates: Benzoic Acid Market – Volume and Forecast To 2028 (Tons)

Figure 21.        North America Plasticizers: Benzoic Acid Market – Revenue and Forecast To 2028 (US$ Thousand)

Figure 22.        North America Plasticizers: Benzoic Acid Market – Volume and Forecast To 2028 (Tons)

Figure 23.        North America Feed Additives : Benzoic Acid Market – Revenue and Forecast To 2028 (US$ Thousand)

Figure 24.        North America Feed Additives : Benzoic Acid Market – Volume and Forecast To 2028 (Tons)

Figure 25.        North America Others: Benzoic Acid Market – Revenue and Forecast To 2028 (US$ Thousand)

Figure 26.        North America Others: Benzoic Acid Market – Volume and Forecast To 2028 (Tons)

Figure 27.        North America: Benzoic Acid Market Revenue, by Key Country (2020 and 2028)

Figure 28.        North America: Benzoic Acid Market Revenue, by Key Country (2020 and 2028)

Figure 29.        US: Benzoic Acid Market–Revenue and Forecast to 2028 (US$ Thousand)

Figure 30.        US: Benzoic Acid Market–Volume and Forecast to 2028 (Tons)

Figure 31.        Canada: Benzoic Acid Market–Revenue and Forecast to 2028 (US$ Thousand)

Figure 32.        Canada: Benzoic Acid Market–Volume and Forecast to 2028 (Tons)

Figure 33.        Mexico: Benzoic Acid Market–Revenue and Forecast to 2028 (US$ Thousand)

Figure 34.        Mexico: Benzoic Acid Market–Volume and Forecast to 2028 (Tons)

  1. Eastman Chemical Company.
  2. Foodchem International Corporation.
  3. A.M Food CHEMICAL Co. Limited.
  4. OASIS FINE CHEM.
  5. Spectrum chemicals.
  6. LANXESS.
  7. MERCK KGaA.
  8. Tiajin Dongda Chemical Groupe Co.
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