The Benzoic Acid Market size was valued at USD 1102 million in 2022. It is estimated to hit USD 1653.13 million by 2030 and grow at a CAGR of 5.2% over the forecast period of 2023-2030.
The benzoic acid market has experienced substantial growth due to its versatile applications and increasing demand across multiple industries. The food and beverage sector, in particular, has emerged as a major consumer of benzoic acid, owing to its role as a preservative in various food products. Additionally, the pharmaceutical industry has also witnessed a surge in the use of benzoic acid as an active ingredient in medications. The personal care industry has also contributed to the market's growth, utilizing benzoic acid in cosmetics and skincare products.
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One notable trend in the benzoic acid market is the increasing preference for natural and organic products, driven by growing consumer awareness regarding health and environmental concerns. As a result, manufacturers are exploring alternative sources of benzoic acid, such as plant-based derivatives, to cater to this demand. Additionally, the market is also witnessing a rise in the adoption of benzoic acid as a raw material for the production of benzyl alcohol, a compound widely used in the fragrance industry.
In 2022 Benzoate Plasticizers held the largest revenue share of about 29.8% in the benzoic acid market. One key factor contributing to its dominance is its ability to enhance the flexibility and durability of materials. Benzoate Plasticizers are commonly used in the production of polymers, resins, and other materials, where they act as additives to improve their performance. This unique characteristic has made them indispensable in industries such as automotive, construction, and packaging. Furthermore, Benzoate Plasticizers offer excellent solubility, making them easily blendable with different substances. Another advantage of Benzoate Plasticizers is their low volatility. As the world becomes increasingly conscious of sustainability, these plasticizers offer an eco-friendlier alternative to traditional additives. Their low toxicity and minimal impact on the environment make them a preferred choice for manufacturers aiming to reduce their carbon footprint.
The food and Beverage segment dominated the benzoic acid market and is expected to grow with a CAGR of about 5.3% during the forecast period of 2023-2030. The utilization of benzoic acid in the food and beverage industry has witnessed a remarkable surge in recent years. This organic compound serves as a crucial preservative, effectively inhibiting the growth of bacteria, yeast, and mold in various food products. By extending the shelf life of perishable items, benzoic acid ensures that consumers can enjoy safe and fresh food for longer periods.
Drivers
Increasing demand for benzoic acid from various industries
The benzoic acid market is experiencing a surge in demand due to its wide range of applications in industries such as food and beverages, pharmaceuticals, and personal care. The growing population and changing consumer preferences are major contributors to this increased demand.
Regulatory support regarding the use of benzoic acid
Restrain
Health concerns associated with the benzoic acid
Despite its widespread use, there are concerns regarding the potential health risks associated with benzoic acid. Studies have suggested a link between high levels of benzoic acid consumption and adverse health effects. These concerns pose a significant restraint on the market's growth.
Availability of alternatives
The market faces competition from alternative preservatives that offer similar functionalities to benzoic acid. This availability of substitutes limits the market's potential growth, as consumers have the option to choose alternatives that may be perceived as safer or more environmentally friendly.
Opportunities
Growing awareness of natural preservatives
With increasing consumer awareness and demand for natural and organic products, there is an opportunity for the benzoic acid market to tap into the growing market for natural preservatives.
Challenges
Fluctuation in raw material prices
The Russia-Ukraine war has disrupted the supply chain of benzoic acid, leading to a decrease in its availability in the market. The instability caused by the war has led to significant price volatility in the benzoic acid market. Fluctuations in supply and disruptions in transportation have contributed to price hikes, making it challenging for businesses to plan and budget effectively. The Russia-Ukraine war resulted in the temporary shutdown of operations at Black Sea ports, causing a decline in prices for upstream crude and feedstock toluene. Consequently, this had a significant impact on the benzoic acid market. The Russia-Ukraine war has also prompted a shift in the market dynamics of benzoic acid. With Ukraine facing difficulties in maintaining its production levels, other countries have stepped in to fill the gap. China, for instance, has increased its production and export of benzoic acid to meet the rising demand. This shift has not only altered the global supply chain but has also created new opportunities for market expansion and diversification.
The prices of Benzoic Acid in the US region experienced a significant decline during December 2022. Production orders for various active pharmaceutical components, including Benzoic Acid, from China to the US decreased by 41% in the same month. Additionally, the reduced demand for Benzoic Acid from the downstream industry, coupled with lower freight costs, has had a negative impact on business confidence, which remained low throughout December 2022. The US market has witnessed a decline in consumer confidence towards Benzoic Acid. One of the main factors contributing to this persistent negative sentiment is the looming threat of a recession. This threat continues to exert its influence and maintain a pessimistic outlook for the trade of Benzoic Acid in the US market. During a recession, consumer spending tends to decline, leading to a decrease in demand for non-essential goods and services. As a result, industries reliant on discretionary spending, such as the food and beverages sector, experience a downturn. Consequently, the Benzoic Acid Market, which heavily relies on these industries, faces a decrease in demand.
By Form
Liquid
Anhydrous
By Application
Sodium Benzoate
Benzyl Benzoate
Potassium Benzoate
Benzoate Plasticizers
Benzoyl Chloride
Alkyd Resin
Feed Additives
Others
By End-use
Food & Beverage
Chemical
Cosmetics and Personal Care
Pharmaceuticals
Others
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The Asia Pacific region dominated the Benzoic Acid Market. The market size of the Asia Pacific region accounts for USD 464.5 million in 2022. The crucial factor contributing to the Asia Pacific region's dominance is its expanding consumer base. With a rapidly growing population and rising disposable incomes, the demand for Benzoic Acid and its derivatives has witnessed a significant surge. The region's large consumer market provides a lucrative opportunity for manufacturers, encouraging them to expand their operations and cater to the increasing demand. Increasing demand for benzoic acid from the food and beverage industry further propelled the demand for benzoic acid in the Asia Pacific region.
North America is the second largest market with a revenue share of about 27.4% in 2022. North America's strategic geographical location plays a pivotal role in its market dominance. The region serves as a crucial hub for international trade, allowing for efficient distribution and transportation of Benzoic Acid products. This advantageous position enables North American companies to cater to a vast customer base, both domestically and globally. Moreover, the region's strong emphasis on research and development has propelled innovation within the Benzoic Acid Market. Additionally, North America's well-established network of suppliers, distributors, and manufacturers contributes to its market share. Increasing demands for benzoic acid from various industries such as food and beverages, pharmaceuticals, and personal care boosts the growth of this market significantly.
REGIONAL COVERAGE:
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
The major key players are Chemcrux Enterprises Ltd, Merck KGaA, LANXESS, Thermo Fisher Scientific Inc., Ganesh Benzoplast Limited, Fushimi, I G Petrochemicals Ltd., Hemadri Chemicals, Eastman Chemical Company, GFS Chemicals Inc., Spectrum Chemical, and other key players mentioned in the final report.
In 2021, the global specialty materials company, Eastman, embarked on a groundbreaking collaboration with Adven to transform the by-products of benzoic acid production into a sustainable source of energy. This pioneering solution not only enhances the environmental friendliness of energy production but also proves to be a cost-effective approach.
In August 2021, the specialty chemicals company, LANXESS successfully finalized the acquisition of Emerald Kalama Chemical, a renowned manufacturer of specialty chemicals based in the United States. The purchase agreement between LANXESS and Emerald Kalama Chemical was signed on February 14, 2021, and all necessary regulatory approvals have been obtained, ensuring a smooth transition. To finance this significant acquisition, LANXESS utilized its liquid funds, amounting to approximately USD 1.04 billion.
| Report Attributes | Details |
| Market Size in 2022 | US$ 1102 Mn |
| Market Size by 2030 | US$ 1653.13 Mn |
| CAGR | CAGR of 5.2% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2019-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Form (Liquid and Anhydrous) • By Application (Sodium Benzoate, Benzyl Benzoate, Potassium Benzoate, Benzoate Plasticizers, Benzoyl Chloride, Alkyd Resin, Feed Additives, and Others) • By End-use (Food & Beverage, Chemical, Cosmetics and Personal Care, Pharmaceuticals, and Others) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
| Company Profiles | Chemcrux Enterprises Ltd, Merck KGaA, LANXESS, Thermo Fisher Scientific Inc., Ganesh Benzoplast Limited, Fushimi, I G Petrochemicals Ltd., Hemadri Chemicals, Eastman Chemical Company, GFS Chemicals Inc., Spectrum Chemical |
| Key Drivers | • Increasing demand for benzoic acid from various industries • Regulatory support regarding the use of benzoic acid |
| Market Restraints | • Health concerns associated with the benzoic acid • Availability of alternatives |
Ans: The Benzoic Acid Market was valued at USD 1102 million in 2022.
Ans: The expected CAGR of the global Benzoic Acid Market during the forecast period is 5.2%.
Ans: The rising demand for convenience foods and ready-to-drink beverages has propelled the dominance of the food and beverage segment in the benzoic acid market. With the fast-paced lifestyles of modern consumers, the need for easily accessible and preserved food options has become increasingly prevalent. Benzoic acid plays a pivotal role in meeting this demand by maintaining the quality and safety of these products.
Ans: Governments and regulatory bodies are implementing stringent regulations regarding the use of preservatives in various industries. Benzoic acid, being a widely accepted and safe preservative, is witnessing increased demand due to its compliance with these regulations. This factor will drive the growth of the benzoic acid market significantly.
Ans: Yes, you can buy reports in bulk quantity as per your requirements. Check Here for more details.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 Impact of the Ukraine- Russia war
4.2 Impact of ongoing Recession
4.2.1 Introduction
4.2.2 Impact on major economies
4.2.2.1 US
4.2.2.2 Canada
4.2.2.3 Germany
4.2.2.4 France
4.2.2.5 United Kingdom
4.2.2.6 China
4.2.2.7 Japan
4.2.2.8 South Korea
4.2.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Benzoic Acid Market Segmentation, By Form
8.1 Liquid
8.2 Anhydrous
9. Benzoic Acid Market Segmentation, By Application
9.1 Sodium Benzoate
9.2 Benzyl Benzoate
9.3 Potassium Benzoate
9.4 Benzoate Plasticizers
9.5 Benzoyl Chloride
9.6 Alkyd Resin
9.7 Feed Additives
9.8 Others
10. Benzoic Acid Market Segmentation, By End-use
10.1 Food & Beverage
10.2 Chemical
10.3 Cosmetics and Personal Care
10.4 Pharmaceuticals
10.5 Others
11. Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 North America Benzoic Acid Market by Country
11.2.2North America Benzoic Acid Market by Form
11.2.3 North America Benzoic Acid Market by Application
11.2.4 North America Benzoic Acid Market by End-use
11.2.5 USA
11.2.5.1 USA Benzoic Acid Market by Form
11.2.5.2 USA Benzoic Acid Market by Application
11.2.5.3 USA Benzoic Acid Market by End-use
11.2.6 Canada
11.2.6.1 Canada Benzoic Acid Market by Form
11.2.6.2 Canada Benzoic Acid Market by Application
11.2.6.3 Canada Benzoic Acid Market by End-use
11.2.7 Mexico
11.2.7.1 Mexico Benzoic Acid Market by Form
11.2.7.2 Mexico Benzoic Acid Market by Application
11.2.7.3 Mexico Benzoic Acid Market by End-use
11.3 Europe
11.3.1 Eastern Europe
11.3.1.1 Eastern Europe Benzoic Acid Market by Country
11.3.1.2 Eastern Europe Benzoic Acid Market by Form
11.3.1.3 Eastern Europe Benzoic Acid Market by Application
11.3.1.4 Eastern Europe Benzoic Acid Market by End-use
11.3.1.5 Poland
11.3.1.5.1 Poland Benzoic Acid Market by Form
11.3.1.5.2 Poland Benzoic Acid Market by Application
11.3.1.5.3 Poland Benzoic Acid Market by End-use
11.3.1.6 Romania
11.3.1.6.1 Romania Benzoic Acid Market by Form
11.3.1.6.2 Romania Benzoic Acid Market by Application
11.3.1.6.4 Romania Benzoic Acid Market by End-use
11.3.1.7 Turkey
11.3.1.7.1 Turkey Benzoic Acid Market by Form
11.3.1.7.2 Turkey Benzoic Acid Market by Application
11.3.1.7.3 Turkey Benzoic Acid Market by End-use
11.3.1.8 Rest of Eastern Europe
11.3.1.8.1 Rest of Eastern Europe Benzoic Acid Market by Form
11.3.1.8.2 Rest of Eastern Europe Benzoic Acid Market by Application
11.3.1.8.3 Rest of Eastern Europe Benzoic Acid Market by End-use
11.3.2 Western Europe
11.3.2.1 Western Europe Benzoic Acid Market by Form
11.3.2.2 Western Europe Benzoic Acid Market by Application
11.3.2.3 Western Europe Benzoic Acid Market by End-use
11.3.2.4 Germany
11.3.2.4.1 Germany Benzoic Acid Market by Form
11.3.2.4.2 Germany Benzoic Acid Market by Application
11.3.2.4.3 Germany Benzoic Acid Market by End-use
11.3.2.5 France
11.3.2.5.1 France Benzoic Acid Market by Form
11.3.2.5.2 France Benzoic Acid Market by Application
11.3.2.5.3 France Benzoic Acid Market by End-use
11.3.2.6 UK
11.3.2.6.1 UK Benzoic Acid Market by Form
11.3.2.6.2 UK Benzoic Acid Market by Application
11.3.2.6.3 UK Benzoic Acid Market by End-use
11.3.2.7 Italy
11.3.2.7.1 Italy Benzoic Acid Market by Form
11.3.2.7.2 Italy Benzoic Acid Market by Application
11.3.2.7.3 Italy Benzoic Acid Market by End-use
11.3.2.8 Spain
11.3.2.8.1 Spain Benzoic Acid Market by Form
11.3.2.8.2 Spain Benzoic Acid Market by Application
11.3.2.8.3 Spain Benzoic Acid Market by End-use
11.3.2.9 Netherlands
11.3.2.9.1 Netherlands Benzoic Acid Market by Form
11.3.2.9.2 Netherlands Benzoic Acid Market by Application
11.3.2.9.3 Netherlands Benzoic Acid Market by End-use
11.3.2.10 Switzerland
11.3.2.10.1 Switzerland Benzoic Acid Market by Form
11.3.2.10.2 Switzerland Benzoic Acid Market by End-use
11.3.2.10.3 Switzerland Benzoic Acid Market by Application
11.3.2.11.1 Austria
11.3.2.11.2 Austria Benzoic Acid Market by Form
11.3.2.11.3 Austria Benzoic Acid Market by Application
11.3.2.11.4 Austria Benzoic Acid Market by End-use
11.3.2.12 Rest of Western Europe
11.3.2.12.1 Rest of Western Europe Benzoic Acid Market by Form
11.3.2.12.2 Rest of Western Europe Benzoic Acid Market by Application
11.3.2.12.3 Rest of Western Europe Benzoic Acid Market by End-use
11.4 Asia-Pacific
11.4.1 Asia-Pacific Benzoic Acid Market by Country
11.4.2 Asia-Pacific Benzoic Acid Market by Form
11.4.3 Asia-Pacific Benzoic Acid Market by Application
11.4.4 Asia-Pacific Benzoic Acid Market by End-use
11.4.5 China
11.4.5.1 China Benzoic Acid Market by Form
11.4.5.2 China Benzoic Acid Market by Application
11.4.5.3 China Benzoic Acid Market by End-use
11.4.6 India
11.4.6.1 India Benzoic Acid Market by Form
11.4.6.2 India Benzoic Acid Market by Application
11.4.6.3 India Benzoic Acid Market by End-use
11.4.7 Japan
11.4.7.1 Japan Benzoic Acid Market by Form
11.4.7.2 Japan Benzoic Acid Market by Application
11.4.7.3 Japan Benzoic Acid Market by End-use
11.4.8 South Korea
11.4.8.1 South Korea Benzoic Acid Market by Form
11.4.8.2 South Korea Benzoic Acid Market by Application
11.4.8.3 South Korea Benzoic Acid Market by End-use
11.4.9 Vietnam
11.4.9.1 Vietnam Benzoic Acid Market by Form
11.4.9.2 Vietnam Benzoic Acid Market by Application
11.4.9.3 Vietnam Benzoic Acid Market by End-use
11.4.10 Singapore
11.4.10.1 Singapore Benzoic Acid Market by Form
11.4.10.2 Singapore Benzoic Acid Market by Application
11.4.10.3 Singapore Benzoic Acid Market by End-use
11.4.11 Australia
11.4.11.1 Australia Benzoic Acid Market by Form
11.4.11.2 Australia Benzoic Acid Market by Application
11.4.11.3 Australia Benzoic Acid Market by End-use
11.4.12 Rest of Asia-Pacific
11.4.12.1 Rest of Asia-Pacific Benzoic Acid Market by Form
11.4.12.2 Rest of Asia-Pacific Benzoic Acid Market by Application
11.4.12.3 Rest of Asia-Pacific Benzoic Acid Market by End-use
11.5 Middle East & Africa
11.5.1 Middle East
11.5.1.1 Middle East Benzoic Acid Market by country
11.5.1.2 Middle East Benzoic Acid Market by Form
11.5.1.3 Middle East Benzoic Acid Market by Application
11.5.1.4 Middle East Benzoic Acid Market by End-use
11.5.1.5 UAE
11.5.1.5.1 UAE Benzoic Acid Market by Form
11.5.1.5.2 UAE Benzoic Acid Market by Application
11.5.1.5.3 UAE Benzoic Acid Market by End-use
11.5.1.6 Egypt
11.5.1.6.1 Egypt Benzoic Acid Market by Form
11.5.1.6.2 Egypt Benzoic Acid Market by Application
11.5.1.6.3 Egypt Benzoic Acid Market by End-use
11.5.1.7 Saudi Arabia
11.5.1.7.1 Saudi Arabia Benzoic Acid Market by Form
11.5.1.7.2 Saudi Arabia Benzoic Acid Market by Application
11.5.1.7.3 Saudi Arabia Benzoic Acid Market by End-use
11.5.1.8 Qatar
11.5.1.8.1 Qatar Benzoic Acid Market by Form
11.5.1.8.2 Qatar Benzoic Acid Market by Application
11.5.1.8.3 Qatar Benzoic Acid Market by End-use
11.5.1.9 Rest of Middle East
11.5.1.9.1 Rest of Middle East Benzoic Acid Market by Form
11.5.1.9.2 Rest of Middle East Benzoic Acid Market by Application
11.5.1.9.3 Rest of Middle East Benzoic Acid Market by End-use
11.5.2 Africa
11.5.2.1 Africa Benzoic Acid Market by Country
11.5.2.2 Africa Benzoic Acid Market by Form
11.5.2.3 Africa Benzoic Acid Market by Application
11.5.2.4 Africa Benzoic Acid Market by End-use
11.5.2.5 Nigeria
11.5.2.5.1 Nigeria Benzoic Acid Market by Form
11.5.2.5.2 Nigeria Benzoic Acid Market by Application
11.5.2.5.3 Nigeria Benzoic Acid Market by End-use
11.5.2.6 South Africa
11.5.2.6.1 South Africa Benzoic Acid Market by Form
11.5.2.6.2 South Africa Benzoic Acid Market by Application
11.5.2.6.3 South Africa Benzoic Acid Market by End-use
11.5.2.7 Rest of Africa
11.5.2.7.1 Rest of Africa Benzoic Acid Market by Form
11.5.2.7.2 Rest of Africa Benzoic Acid Market by Application
11.5.2.7.3 Rest of Africa Benzoic Acid Market by End-use
11.6 Latin America
11.6.1 Latin America Benzoic Acid Market by Country
11.6.2 Latin America Benzoic Acid Market by Form
11.6.3 Latin America Benzoic Acid Market by Application
11.6.4 Latin America Benzoic Acid Market by End-use
11.6.5 Brazil
11.6.5.1 Brazil Benzoic Acid Market by Form
11.6.5.2 Brazil Benzoic Acid Market by Application
11.6.5.3 Brazil Benzoic Acid Market by End-use
11.6.6 Argentina
11.6.6.1 Argentina Benzoic Acid Market by Form
11.6.6.2 Argentina Benzoic Acid Market by Application
11.6.6.3 Argentina Benzoic Acid Market by End-use
11.6.7 Colombia
11.6.7.1 Colombia Benzoic Acid Market by Form
11.6.7.2 Colombia Benzoic Acid Market by Application
11.6.7.3 Colombia Benzoic Acid Market by End-use
11.6.8 Rest of Latin America
11.6.8.1 Rest of Latin America Benzoic Acid Market by Form
11.6.8.2 Rest of Latin America Benzoic Acid Market by Application
11.6.8.3 Rest of Latin America Benzoic Acid Market by End-use
12. Company profile
12.1 Chemcrux Enterprises Ltd.
12.1.1 Company Overview
12.1.2 Financial
12.1.3 Products/ Services Offered
12.1.4 SWOT Analysis
12.1.5 The SNS View
12.2 Merck KGaA
12.2.1 Company Overview
12.2.2 Financials
12.2.3 Products/ Services Offered
12.2.4 SWOT Analysis
12.2.5 The SNS View
12.3 LANXESS
12.3.1 Company Overview
12.3.2 Financials
12.3.3 Products/ Services Offered
12.3.4 SWOT Analysis
12.3.5 The SNS View
12.4 Thermo Fisher Scientific Inc.
12.4.1 Company Overview
12.4.2 Financials
12.4.3 Products/ Services Offered
12.4.4 SWOT Analysis
12.4.5 The SNS View
12.5 Ganesh Benzoplast Limited
12.5.1 Company Overview
12.5.2 Financials
12.5.3 Products/ Services Offered
12.5.4 SWOT Analysis
12.5.5 The SNS View
12.6 Fushimi
12.6.1 Company Overview
12.6.2 Financials
12.6.3 Products/ Services Offered
12.6.4 SWOT Analysis
12.6.5 The SNS View
12.7 I G Petrochemicals Ltd.
12.7.1 Company Overview
12.7.2 Financials
12.7.3 Products/ Services Offered
12.7.4 SWOT Analysis
12.7.5 The SNS View
12.8 Hemadri Chemicals
12.8.1 Company Overview
12.8.2 Financials
12.8.3 Products/ Services Offered
12.8.4 SWOT Analysis
12.8.5 The SNS View
12.9 Eastman Chemical Company
12.9.1 Company Overview
12.9.2 Financials
12.9.3 Products/ Services Offered
12.9.4 SWOT Analysis
12.9.5 The SNS View
12.10 GFS Chemicals Inc.
12.10.1 Company Overview
12.10.2 Financials
12.10.3 Products/ Services Offered
12.10.4 SWOT Analysis
12.10.5 The SNS View
12.11 Spectrum Chemical
12.11.1 Company Overview
12.11.2 Financials
12.11.3 Products/ Services Offered
12.11.4 SWOT Analysis
12.11.5 The SNS View
13. Competitive Landscape
13.1 Competitive Benchmarking
13.2 Market Share Analysis
13.3 Recent Developments
13.3.1 Industry News
13.3.2 Company News
13.3.3 Mergers & Acquisitions
14. Use Case and Best Practices
15. Conclusion
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The Phenolic Resin Market Size was valued at USD 12.54 billion in 2022, and is expected to reach USD 17.83 billion by 2030, and grow at a CAGR of 4.5% over the forecast period 2023-2030.
Aerospace Materials Market Size was valued at USD 45.74 billion in 2023 and is expected to reach USD 89.15 billion by 2031 and grow at a CAGR of 8.7% over the forecast period 2024-2031.
The Metal Casting Market Size was valued at USD 33 billion in 2022, and is expected to reach USD 61.08 billion by 2030, and grow at a CAGR of 8.0% over the forecast period 2023-2030.
The Pigment Dispersions Market Size was valued at USD 37 billion in 2022 and is expected to reach USD 50.64 billion by 2030 and grow at a CAGR of 4.0% over the forecast period 2023-2030.
The High-Performance Fluoropolymers Market Size was valued at USD 4.10 billion in 2022, and is expected to reach USD 7.01 billion by 2030, and grow at a CAGR of 6.9% over the forecast period 2023-2030.
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