The Europe Benzoic Acid Market is expected to witness market growth of 5.9% CAGR during the forecast period (2024-2031). In the year 2021, the Europe market's volume surged to 307.18 kilo tonnes, showcasing a growth of 22.7% (2020-2024).
Alkyd resins, synthesized using benzoic acid, play a crucial role in the coatings and paints industry, offering excellent adhesion, durability, and flexibility. These resins are widely utilized in protective coatings for metal, wood, and concrete surfaces, as well as in the production of varnishes and inks. The growth of the construction and automotive industries, coupled with increasing infrastructure development, drives the demand for alkyd resins. Thus, the Germany market is expected to utilize 7.40 kilo tonnes of benzoic acid in Alkyd resins application by 2031.
The Germany market dominated the Europe Benzoic Acid Market by Country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of $82.2 Million by 2031. The UK market is exhibiting a CAGR of 5% during 2024-2031. Additionally, the France market would experience a CAGR of 7% during 2024-2031.
Benzoic acid is also used to produce plasticizers. These are added to plastics to improve their flexibility, durability, and workability. Plasticizers are used in various applications, including producing PVC products, synthetic leather, and adhesives. Benzoic acid is a key raw material in synthesizing phthalate ester plasticizers and is widely used in the plastics industry.
Another important application of benzoic acid in the chemical industry is in producing alkyd resins, which are then utilized in the formulation of paints, varnishes, and coatings. Alkyd resins are valued for their durability, weather resistance, and fast-drying properties, making them suitable for various applications. Benzoic acid is a raw material synthesizing phthalic anhydride, a key intermediate in alkyd resins.
Europe serves as a significant market for benzoic acid owing to the rigorous regulations governing food safety and the preservation of personal care items. The European Union has rigorous standards for food additives, and benzoic acid is widely accepted as a safe preservative within specified limits. In 2020, 291,000 F&B processing enterprises were in the EU, equivalent to 14.1 % of all manufacturing enterprises. The value added of F&B processing enterprises was €227 billion, around 30 % higher than that of agriculture (€174 billion, at basic prices).
Alkyd resins, synthesized using benzoic acid, play a crucial role in the coatings and paints industry, offering excellent adhesion, durability, and flexibility. These resins are widely utilized in protective coatings for metal, wood, and concrete surfaces, as well as in the production of varnishes and inks. The growth of the construction and automotive industries, coupled with increasing infrastructure development, drives the demand for alkyd resins. Thus, the Germany market is expected to utilize 7.40 kilo tonnes of benzoic acid in Alkyd resins application by 2031.
The Germany market dominated the Europe Benzoic Acid Market by Country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of $82.2 Million by 2031. The UK market is exhibiting a CAGR of 5% during 2024-2031. Additionally, the France market would experience a CAGR of 7% during 2024-2031.
Benzoic acid is also used to produce plasticizers. These are added to plastics to improve their flexibility, durability, and workability. Plasticizers are used in various applications, including producing PVC products, synthetic leather, and adhesives. Benzoic acid is a key raw material in synthesizing phthalate ester plasticizers and is widely used in the plastics industry.
Another important application of benzoic acid in the chemical industry is in producing alkyd resins, which are then utilized in the formulation of paints, varnishes, and coatings. Alkyd resins are valued for their durability, weather resistance, and fast-drying properties, making them suitable for various applications. Benzoic acid is a raw material synthesizing phthalic anhydride, a key intermediate in alkyd resins.
Europe serves as a significant market for benzoic acid owing to the rigorous regulations governing food safety and the preservation of personal care items. The European Union has rigorous standards for food additives, and benzoic acid is widely accepted as a safe preservative within specified limits. In 2020, 291,000 F&B processing enterprises were in the EU, equivalent to 14.1 % of all manufacturing enterprises. The value added of F&B processing enterprises was €227 billion, around 30 % higher than that of agriculture (€174 billion, at basic prices).
List of Key Companies Profiled
- Merck KGaA
- Eastman Chemical Company
- Foodchem International Corporation
- Spectrum Chemical Mfg. Corp.
- BASF SE
- Huntsman Corporation
- Lanxess AG
- Haihang Industry Co., Ltd. (Haihang Group)
- Polysciences, Inc.
- Tokyo Chemical Industry Co., Ltd.
Market Report Segmentation
By End User (Volume, Kilo Tonnes, USD Billion, 2020-2024)
- Food & Beverages
- Chemicals
- Pharmaceuticals
- Other End-User
By Application (Volume, Kilo Tonnes, USD Billion, 2020-2024)
- Benzoates
- Benzoates Plasticizers
- Benzoyl Chloride
- Alkyd Resins
- Animal Feed Additives
By Country (Volume, Kilo Tonnes, USD Billion, 2020-2024)
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Europe Benzoic Acid Market by End-User
Chapter 5. Europe Benzoic Acid Market by Application
Chapter 6. Europe Benzoic Acid Market by Country
Chapter 7. Company Profiles
Companies Mentioned
- Merck KGaA
- Eastman Chemical Company
- Foodchem International Corporation
- Spectrum Chemical Mfg. Corp.
- BASF SE
- Huntsman Corporation
- Lanxess AG
- Haihang Industry Co., Ltd. (Haihang Group)
- Polysciences, Inc.
- Tokyo Chemical Industry Co., Ltd.
Methodology
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