Benzenoid Market Size & Share, Growth Trends & Forecasts | COVID-19 Impact Analysis

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MarketsandMarkets Presents
Benzenoid Market - Forecast to 2025 https//www.ma
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t-18857610.html

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The report "Benzenoid Market by Type (Benzyl
Acetate, Benzoate, Chloride, Salicylate,
Benzaldehyde, Cinnamyl, Vanillin), Application
(Soaps Detergents, Food Beverage, Household
Products), and Region Global forecast to 2025",
size is estimated to be USD 651 million in 2020
and is projected to reach USD 857 million by
2025, at a CAGR of 5.6 during the forecast
period. The market is being strongly driven by
soaps detergents industry, which is witnesses a
high demand. With newer premium products coming
up in the market and unique fragrance blends,
their demand is projected to grow in the market
in the near future. Browse 117 market data
Tables and 68 Figures spread through 185 Pages
and in-depth TOC on "Benzenoid Market Global
forecast to 2025 Asia Pacific is estimated to
be the largest market. The Asia Pacific region
is estimated to account for the largest share of
the global benzenoids market in 2020. The rising
income, purchasing power, rapid growth of the
middle-class population, and consumer demand for
processed products present promising prospects
for growth and diversification in the regions
benzenoids sector. The European aroma chemicals
manufacturers are gradually losing their market
share, failing to compete with products from Asia
(mainly from China), where labor costs are much
lower and the quality control is constantly
growing, imitating western technologies. Further,
countries such as China, Japan, South Korea, and
Indonesia are witnessing significant growth in
the cosmetics, beauty, and personal care products
markets. These rae expected to drice the growth
from benzenoid chemiclas in the region. Download
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fdownloadNew.asp?id18857610
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• Report Objectives
• To describe and forecast the benzenoid chemicals
  market, in terms of type, application, and region
• To describe and forecast the benzenoid chemicals
  market, in terms of value and volume, by
  region-Asia Pacific, Europe, North America, South
  America and Middle East Africa-along with their
  respective countries
• To provide detailed information regarding the
  major factors influencing the market growth
  (drivers, restraints, opportunities, and
  challenges)
• To strategically analyze micromarkets with
  respect to individual growth trends, prospects,
  and contributions to the overall market
• To study the complete value chain of benzenoid
  chemicals market.
• To analyze opportunities in the market for
  stakeholders by identifying the high-growth
  segments of the benzenoid chemicals market
• To strategically profile the key players and
  comprehensively analyze their market positions,
  in terms of ranking and core competencies, along
  with detailing the competitive landscape for
  market leaders
• To analyze strategic approaches, such as
  acquisitions, expansions, product launches, and
  agreements partnerships, in the benzenoid
  chemicals market
• This research report categorizes the benzenoid
  chemicals market based on type, application, and
  region
• Request for sample Pages https//www.marketsandma
  rkets.com/requestsampleNew.asp?id18857610

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COVID-19 Impact on the Global Benzenoid Chemicals
 Market Amid the spread of COVID-19 pandemic the
market kept receiving stable demands from end use
sectors such as soaps, detergents, personal care
products, household products, pharmaceuticals and
hygiene products. This was due to the rising
concerns of hygiene amongst the populations. Most
of the manufacturers were able to maintain the
continuity if their operations after a lockdown
of brief time period and recover their production
and sales which is estimated to keep the market
stable in the unprecedented economic scenarios
globally. As reported by IFRA (International
Fragrance Association) 10-15 of the raw
materials used in fragrance come from China and
around a quarter for some companies. While China
recovers, Indias lockdown presents new
challenges to the fragrance market and other
countries, like Brazil, may be the next to be
affected. Driver Shifting flavor fragrane
trends and preferences amongst populations
globally The global choices and preferences
related to taste and aromas are changing rapidly
with changing marketing trends, mindsets and
increasing expenditure on lifestyle. As per the
2018 report of Innova Market Insights 64 of US
consumers state that they love to discover
flavors from other cultures, Dull flavors are
being reinvented and more retail products and
restaurants are highlighting ethnic flavors or
street flavors. Unique scents and attractive
designs have pushed the home fragrance market to
its strongest position yet. While over the years
traditionally rooted fragrances like jasmine and
sandalwood have had a distinct contribution,
especially for soaps, a combination of
fruity-floral fragrances are now gaining traction
with marketers wooing younger consumers. Make an
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• Key Market Players
• Key players in this market include include major
  players such as BASF (Germany), Firmenich
  (Switzerland), Emerald Kalama Chemical (US),
  International Flavors Fragrances, Inc. (US),
   Eternis Fine Chemicals (India), Symrise
  (France), Tennants Fine Chemicals Ltd. (England),
  Jayshree Aromatics Pvt. Ltd. (India), and Valtris
  Specialty Chemicals (US.  These major players in
  this market are focusing on increasing their
  presence through expansions investments,
  mergers acquisitions, partnerships, joint
  ventures, and agreements. These companies have a
  strong presence in North America, Asia Pacific
  and Europe. They also have manufacturing
  facilities along with strong distribution
  networks across these regions.
• Recent Developments
• In June 2019, Valtris Specialty Chemicals
  announced a significant expansion of its benzyl
  derivatives production capacity in Europe. The
  additional production capacity will be executed
  at its sites in Tessenderlo, Belgium and
  Maastricht, Netherlands.
• In June 2019, Eternis expanded its production
  capacity at the Kurkumbh unit, India, for
  manufacturing Hamber (a pale yellow colorless
  liquid) that has a basic woody amber fragrance.
  It features a velvetlike sensation and acts as a
  floralizer. This company has invested USD 15
  million and subsequently was able to expand its
  facilitys capacity from 42,000 MTPA to 60,000
  MTPA.
• In February 2019, Tianjin Dongda Chemical Group
  Co., Ltd. company has purchased 180 acres of land
  in Nangang Industrial Area, Tianjin Binhai New
  Area, China, and invested USD 181 million (CNY
  1.2 billion) in building an industrial park for
  food additives, which can annually yield 150,000
  tons of benzoic acid with technical and pabular
  grades, 100,000 tons of sodium benzoate series
  with pabular grade, and fine chemical products
  with high added value.
• Speak to Analyst https//www.marketsandmarkets.co
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