Dublin, April 17, 2023 (GLOBE NEWSWIRE) -- A global Material & Chemical business consulting firm, Maximize Market Research, has published a market intelligence and competitive landscape report on the “Benzenoid Market”. The report is a combination of primary data and secondary data and domain expert has analyzed the Benzenoid Market from a global point and regional standpoint. Over the forecast period, Maximize Market Research expects, the market to grow from USD 807.21 Mn in 2022 to USD 1,248.24 Mn in 2029 at a CAGR of 10.2 percent.
Benzenoid Market Report Scope and Research Methodology
| Market Size in 2022 | USD 807.21 Mn. |
| Market Size in 2029 | USD 1,248.24 Mn. |
| CAGR | 10.2 percent (2022-2029) |
| Forecast Period | 2023-2029 |
| Base Year | 2022 |
| Number of Pages | 281 |
| No. of Tables | 116 |
| No. of Charts and Figures | 115 |
| Segment Covered | Type, Application, and Region |
| Regional Scope | North America, Europe, Asia Pacific, Middle East and Africa, South America |
| Report Coverage | Market Share, Size & Forecast by Revenue | 2022−2029, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis. |
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The Benzenoid Market report includes a comprehensive analysis of emerging trends, market drivers, growth opportunities, and major restraints in the industry. It also provides a detailed analysis of the major segments of the Benzenoid Market with their sub-segments. The report covers historical data for understanding the past and forecasting future trends in the Benzenoid industry. To understand the structure of the market and the prevailing competition in the industry, a thorough regional and competitive analysis of the Benzenoid Market is covered in the report. The competitive landscape includes key players in the market along with new entrants. Regional analysis of the market is covered at global, regional, and country levels for understanding the market penetration, dominant players, and growth strategies used by them.
The bottom-up approach was used to estimate the global and regional Benzenoid Market size. The main research methodology used by the Maximize Market Research team is data triangulation which involves data mining, analysis of the impact of data variables on the Benzenoid Market, and primary (industry expert) validation. The report includes extensive use of secondary sources directories and databases such as Bloomberg, Hoovers, Statista and other government associations. The company websites and private websites have also been used to identify and collect information useful for the technical, market-oriented and commercial study of the Benzenoid Market. To provide strengths, weaknesses, opportunities, and threats in the Benzenoid Market, a SWOT analysis was used. PESTLE was employed to understand the potential impact of the micro-economic and macro-economic factors affecting the Benzenoid Market.
Benzenoid Market Overview
Benzenoids are a class of aromatic compounds that are obtained from benzene and are renowned for their distinctive scent and aroma. They have diverse applications across industries such as personal care, cosmetics, household goods, and food and beverage, among others. Rapid growth in the aroma industry because of the rise in the retail sector and ease of availability of various products such as detergents, soaps, cosmetics, fragrances, and other products is estimated to fuel the benzenoid market demand during the forecast period.
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Benzenoid Market Dynamics
The fragrance industry is experiencing a surge in demand due to the rise in personal grooming and hygiene products, as well as a growing interest in unique and innovative scents. Furthermore, Consumers are increasingly looking for fragrances that are made from natural and eco-friendly ingredients which have led to a growing interest in sustainable production methods for benzenoids. Many key players rely heavily on benzenoids as key ingredients in their products and they are continuously investing in new and innovative fragrance formulations, which will require a steady supply of high-quality benzenoids. They are investing in new and sustainable production methods to meet the growing demand for their products. Thus, the high Demand from the fragrance industry is expected to drive the Benzenoid Market during the forecast period.
The use of benzenoids in fragrances has been linked to health concerns such as skin irritation, allergies, and respiratory problems, causing concern among regulators and consumers that may impact demand for benzenoids. The market is subject to various regulations concerning health, safety, and environmental protection, as well as labeling requirements, which can be expensive and time-consuming to comply with. These factors may affect the growth of the benzenoid market in the forecast period.
Benzenoid Market Regional Insights
The Benzenoid market in North America is experiencing significant growth and is the largest region worldwide. The market's expansion is driven by the widespread use of benzenoids in the cosmetics and personal care, food and beverage, and household products industries. Additionally, the increasing demand for natural and safe ingredients in these industries is expected to fuel further growth in the forecast period. Rising consumer awareness about the negative impacts of synthetic chemicals is also expected to drive demand for the benzenoid market in North America.
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Benzenoid Market Segmentation
By Type
- Benzyl Acetate
- Benzoate
- Chloride
- Salicylate
- Benzaldehyde
- Cinnamyl
- Vanillin
By Application
- Soaps and Detergents
- Personal Care
- Food and Beverage
- Household Care
Benzenoid Market's Key Competitors include:
- Jayshree Aromatics Pvt. Ltd.
- BASF SE
- Sigma-Aldrich Corporation (now part of Merck KGaA)
- Firmenich International SA
- LANXESS
- International Flavors & Fragrances, Inc.
- Valtris Specialty Chemicals
- Eternis Fine Chemicals Ltd.
- Emerald Performance Materials
- Eastman Chemical Company
- The Dow Chemical Company
- Symrise AG
- Givaudan
- Robertet Group
- Mane SA
- Takasago International Corporation
- Sensient Technologies Corporation
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Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2021)
- Past Pricing and price curve by region (2018 to 2021)
- Market Size, Share, Size & Forecast by different segment | 2023−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis of the Benzenoid Market by Type, Application, and Region.
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
- Recommendations
Key questions answered in the Benzenoid Market are:
- What is the growth potential of the Benzenoid Market?
- What was the Benzenoid Market size in 2021?
- What are the global trends in the Benzenoid Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for Benzenoid Market?
- How is the intervention from regulatory authority is shaping the Benzenoid Market?
- What growth strategies are the players considering to increase their presence in the Benzenoid Market?
- Who are the leading companies and what are their portfolios in Benzenoid Market?
- What are the major challenges posed to Benzenoid Market?
- Who held the largest market share in Benzenoid Market?
Maximize Market Research is leading Material & Chemical research firm, has also published the following reports:
Benzene and Its Derivatives Market - The market size is expected to reach USD 57.34 Bn by 2029 at a CAGR of 6.5 percent during the forecast period. The market is expected to be driven by the rising demand for coatings and paints.
Nitrobenzene Market - The Nitrobenzene Market size is expected to reach USD 16.23 Bn by 2029. The market is expected to be driven by the increase in the usage of MDI's stiffer polyurethanes, folders, sealants, adhesives, varnishes, and other MDI goods.
Heavy Alkyl Benzenes Market- The Heavy Alkyl Benzenes Market size is expected to reach USD 746.80 Mn by 2029 at a CAGR of 7.4 percent during the forecast period. The growing use of heavy alkyl benzene in lubricating applications is expected to boost the market during the forecast period.
Nitrochlorobenzene Market - The Nitrochlorobenzene Market size is expected to reach USD 5.65 Bn by 2029 at a CAGR of 8.7 percent during the forecast period. Increasing usage of nitro chlorobenzene in the automotive industry to drive the nitro chlorobenzene market during the forecast period.
Methanol Market - The Methanol Market size is expected to reach USD 40.58 Bn by 2029 at a CAGR of 5.93 percent during the forecast period. The Growing demand from the automotive and construction industry is expected to drive the Methanol market growth.
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
