What is Ammonium Benzoate?
Ammonium Benzoate is white crystalline solid formed using benzoic acid and ammonium salt. It is readily soluble in water. The chemical is primarily famous for its vast number of industrial and pharmaceutical applications. Ammonium Benzoate can be used in manufacturing of tires, as a cleansing agent, as a food additive, as an active ingredient in cosmetics, personal care and other pharmaceuticals. The major limiting factor for the growth of the ammonium benzoate market is the harmful environmental impacts and side effects associated with its excessive human contact. Geographically, Asia Pacific is the biggest market, which is expected to remain so, because of massive industrialisation in the region.
The market study is broken down by Type (Pharmaceutical Grade and Industrial Grade), by Application (Chemicals, Paints, Cosmetics & Personal Care, Food preservative and Others) and major geographies with country level break-up.
Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Merck Group (Germany), BASF (Germany), Dow (United States), DuPont (United States), Alfa Aesar (United States), BeanTown Chemical (United States), Cymer LLC (United States), GERBU Biotechnik GmbH (Germany), Toronto Research Chemicals Inc. (Canada) and Isaltis (France) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Vertellus (United Kingdom), Hangzhou Yuhao Chemical Technology Co., Ltd. (China) and Ujwal Pharma Pvt. Ltd. (India).
Segmentation Overview
AdvanceMarketAnalytics has segmented the market of Global Ammonium Benzoate market by Type, Application and Region.
On the basis of geography, the market of Ammonium Benzoate has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Distribution Channel, the sub-segment i.e. Direct will boost the Ammonium Benzoate market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Leaders and their expansionary development strategies
In 2021, Lanxess AG, German Speciality Chemicals manufacturer has announced acquisition of Emerald Kalama Chemical which offers wide spectrum of speciality chemicals. The deal is estimated to be worth around USD 1.1 billion. The acquisition is aimed at strengthening Lanxess Benozoate Business.
In 2020, Merck KGaA, a leader in chemical and pharmaceutical business has announced partnership or collaboration agreement with Iktos, an IT firm specialising in Artificial Intelligence. The two companies look to deploy AI to accelerate and improve the new drug discovery process, in order to deliver better drugs at a quicker pace in the future.
Market Trend
- Cosmetics and Personal Care Industry are Fastest Growing Segment
Market Drivers
- Expansion of End User Industries Markets
- Rising demand for Specialty Chemicals
Opportunities
- Vast Number of Industrial Applications, Specifically in Automotive Market
Restraints
- Harmful Environmental Impacts Associated with Release of Ammonium Benzoate in Environment
Challenges
- Adopting more Environment Friendly Production Practices
Key Target Audience
Ammonium Benzoate Manufacturers, Suppliers and Distributors, Raw Material Suppliers, New Entrants/Investors, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations and End-Use Industries
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have the better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with purpose to understand companys positioning regarding market value, volume and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders etc. and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.