8. Wuhan YouJi Industries Company Limited (China)
9. Thermo Fisher Scientific (United States)
10. Avantor (United States)
11. MP Biomedicals LLC (United States)
12. Dayang Chem (China)
13. FOODCHEM (China)
14. Lanxess (Germany)
15. Eastman Chemical Company (United States)
16. Merck KGaA (Germany)
17. I G Petrochemicals Ltd. (IGPL) (India)
18. Chemcrux Enterprises (India)
19. Huayin Jinqiancheng Pharmaceutical Co. Ltd. (China)
20. Sinteza S.A. (Romania)
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The benzoic acid market is on an upward trajectory, driven by its diverse applications in food preservation, pharmaceuticals, and the chemical industry. With a projected growth rate of 4.8% CAGR through 2032, the market is set to reach USD 1.71 billion by the end of the forecast period. Despite challenges like health concerns and regulatory scrutiny, the growth of key end-user industries, technological innovations, and an increasing focus on sustainability are expected to continue supporting the demand for benzoic acid. As such, stakeholders in this market should remain attuned to changing consumer preferences, regulations, and technological advancements to maintain a competitive edge.
