It is expected to grow at a CAGR of 5. 5% from 2021 to 2028. Benzoic acid is a commonly used antimicrobial preservative in beverages, especially carbonated beverages. In addition, sodium benzoate is a widely used preservative in soft drinks.
New York, June 17, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Benzoic Acid Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Application" - https://www.reportlinker.com/p06279424/?utm_source=GNW Furthermore, there is a shift in consumer preferences towards the adoption of convenience food and ready-to-drink beverages in different regions such as Europe and North America, thereby driving the demand for benzoic acid.Thus, the strong growth in the food & beverages industry and the growing demand for preservatives to improve the shelf life of the different food products contribute to the strong demand for benzoic acid. Hence, the growing demand for benzoic acid from the food & beverages industry is driving the benzoic acid market growth. Further, Plasticizers are non-volatile organic chemicals incorporated into a plastic or elastomer to improve polymers’ flexibility, extensibility, and processability.Phthalate plasticizers have been the most commonly used plasticizers. However, due to concerns about potential negative effects on human health in the past decade, various regulations have been enacted in the European Union (EU) and the US limiting some ortho-phthalate plasticizers.In June 2017, European Union further restricted the use of four phthalates. The Socio-Economic Analysis Committee of the European Chemicals Agency voted to restrict most uses of the chemicals under the EU’s Registration, Evaluation, Authorisation & Restriction of Chemicals (REACH) law.As phthalates are considered harmful to health and the environment, processors of plasticizers are increasingly looking for phthalate-free alternatives. As a result, different non-phthalate plasticizers such as benzoates have been rising in recent years. Benzoates are high solvating plasticizers for polyvinyl chloride (PVC) and are available as either monobenzoates (benzoates) or dibenzoates. Benzoic acid is used in the production of benzoate and dibenzoate plasticizers. Benzoates plasticizers are highly used in flooring, wall coverings, adhesive and sealants, inks and waxes, and films and sheet products. There is an increasing demand for phthalate-free plasticizers, which creates strong demand for benzoate plasticizers, thereby creating demand for benzoic acid. Hence, replacing phthalate plasticizers with non-phthalate plasticizers is boosting the benzoic acid market growth. In Asia Pacific, the application of benzoic acid as a food preservative, chemical intermediates, and plasticizers, among others, has been a key factor enabling market growth.However, the COVID-19 pandemic caused a significant economic loss to various countries in the region. Governments of these countries announced countrywide lockdown measures to restrict the spread of COVID-19, which directly affected the industrial sector’s progress.The benzoic acid market trend is showing slow growth due to the low demands in different industrial applications. However, various industries began resuming their operations in 2021, which is likely to result in greater demands for benzoic acid in the region in the coming years. MERCK KGAA; LANXESS; SINTEZA; CHEMCRUX ENTERPRISES LTD; I G PETROCHEMICALS LTD; LIAONING HUAYI CHEMICAL INDUSTRY AND COMMERCE CO.,LTD.; TIANJIN DONGDA CHEMICAL GROUP CO., LTD; EASTMAN CHEMICAL COMPANY; FUSHIMI PHARMACEUTICAL CO., LTD.; and THE CHEMICAL COMPANY are the key players in the benzoic acid market. The overall size of the global benzoic acid market share has been derived using primary and secondary sources.Exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain analytical insights into the topic. Participants of this process include industry experts such as VPs, business development managers, market intelligence managers, national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in this market. Read the full report: https://www.reportlinker.com/p06279424/?utm_source=GNW About Reportlinker ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place. __________________________
When Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) CEO Warren Buffett speaks, Wall Street and investors wisely pay close attention. While riding Buffett's coattails has been a moneymaking strategy for decades, it's equally important to take note of the stocks that the world's most successful investor and his investing team are selling or avoiding. Thus far in 2022, Warren Buffett has overseen the aggressive selling of the following five stocks.
From Sam Bankman-Fried to Mark Cuban, the biggest names in crypto highlight what’s next for the space. “People are watching and waiting to see if something else will topple,” Dexterity Capital’s Michael Safai says.
Maybe skip the fill-up in the Nordic region of the world…
Data shows new electric vehicle (EV) purchases jumped in Q1, and many industry watchers speculate that high gas prices are driving this behavior. A new study from Autolist, an online car shopping platform, shows that gas prices actually are not driving more EV consumer sentiment.
Exxon Mobil has gained as oil prices surged and Russia attacked Ukraine, but is XOM still a buy after Q1 earnings and softening oil prices?
Shares of Chevron (NYSE: CVX) fell 15.4% this week compared to where they closed out last Friday, according to data from S&P Global Market Intelligence, as economic decline looks increasingly likely. The price of a barrel of oil plunged Friday as recessionary fears grew, outweighing the concerns over supplies from global geopolitical hostilities. The price for West Texas Intermediate crude, Brent, and natural gas all tumbled around 5% for the day for July contracts.
Bitcoin miners are scaling down production as the price of the cryptocurrency just isn't making it worth it anymore.
Ford reinstated its dividend last fall after suspending it more than two years ago when the pandemic first struck. GM hasn’t restore its payout.
(Bloomberg) -- MakerDAO, a long-established decentralized autonomous organization that supports the stablecoin DAI, has suspended the token from being deposited and minted in Aave’s crypto lending platform.Most Read from BloombergPutin Gets Unexpected Pushback From Ally Over War in UkraineChina Says It May Have Detected Signals From Alien CivilizationsSergey Brin Seeks Divorce, Joining Gates and Bezos in SplitMusk, Tesla, SpaceX Are Sued for Alleged Dogecoin Pyramid SchemeMonkeypox Testing Shows
The president has said he is prepared to use 'all tools' at his disposal to combat skyrocketing gas prices.
A USDD return to $0.98 delivers TRX support this morning. A TRON DAO Reserve failure to restore the dollar peg remains a key risk, however.
There's increasing optimism in the energy industry that liquified natural gas production and exports will grow in the United States, although a recent industry conference also showed some concern that Appalachia won't be able to profit from the increase. LNG, after years of relative quiet in the United States, has suddenly become a much bigger issue. Not only have U.S. exports of LNG overseas increased dramatically over the past two years but also the energy crisis brought on by Russia's invasion of Ukraine has raised Europe's interest in LNG from the United States.
Oil prices mark a weekly loss as central bank monetary tightening this week has fueled worries over global demand.
The price of bitcoin has fallen through $20,000 (£16,400), marking an important milestone in the ongoing collapse of cryptocurrency. Bitcoin was not the only cryptocurrency to suffer, with the whole market down by more than 7 per cent over the day. The second-largest cryptocurrency, Ethereum, fell even more: down by 9 per cent over the last day and having lost 40 per cent over the last week.
"Based on markets at this moment-- they can and do change -- the national average could fall to $4.55-$4.75/gal in the weeks ahead unless trends shift," said Patrick De Haan at Gasbuddy.com.
Benchmark European and British gas prices are on course for gains of more than 50% this week after Russia said capacity of its Nord Stream 1 pipeline, which take gas directly to Germany, would be cut by around 60%, dramatically reducing European gas supply. Below are some of the factors explaining the impact of Russian supplies on Europe's gas markets, even those that do not rely on Russian gas directly. Europe has historically relied on Russia for around 40% of its natural gas, most delivered through pipelines including Yamal, which crosses Belarus and Poland to Germany, Nord Stream 1, which runs directly to Germany, and pipelines through Ukraine.
Customers are reducing their spending in cost of living crisis.
Mizzen + Main Founder Kevin Lavelle joins Yahoo Finance Live to discuss how consumer trends and office wardrobes are changing amid the prevalence of remote work.
LONDON (Reuters) -Russian gas flows to Europe fell short of demand on Friday, coinciding with an early heatwave gripping its south and boosting benchmark prices already lifted by concerns the continent may struggle to build up storage in time for winter. Italy and Slovakia reported receiving less than half of the usual volumes through the Nordstream 1 pipeline, which crosses the Baltic Sea from Russia to Germany and accounts for around 40% of Russian pipeline flows to the European Union. France said it had received no Russian gas from Germany since June 15.
Volkswagen AG's top U.S. executive said on Thursday the United States faces major challenges in ramping up battery production to facilitate a shift to electric vehicles including attracting skilled workers, mining for key metals and supply chain issues. Scott Keogh, chief executive of Volkswagen Group of America, told an Automotive News forum in Washington that the move to EVs is the single biggest "industrial transformation in America."