In 2023, China led the global export market of benzoic acid with 30.76% of the share, followed by the Netherlands at 29.92%. Estonia, France, and Germany were significant exporters too, with shares of 10%, 5.57%, and 5.15% respectively. Notable growth areas were France (5.53%), Belgium (4.27%), and various smaller markets like Israel (6.32%) and Lithuania (8.63%). Declines were observed in Japan (-11.31%), South Africa (-13.45%), and Sweden (-24.31%). The overall CAGR over the past five years suggests a stable to slightly increasing market with periodic fluctuations in different regions.
Future trends to watch include China's potential increase in market share given its current trajectory. Additionally, expect growing competition from Europe with the Netherlands and emerging markets such as Romania showing positive year-on-year growth. Monitoring environmental regulations and demand for eco-friendly substitutes will also be crucial as they may influence production costs and export volumes.
Top countries in Export of Benzoic Acid Share by Country (Kilograms)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 30.76 | 2023 | +3.03% | +2.71% | View data |
| 2 | 2 Netherlands | 29.92 | 2023 | +1.69% | +1.66% | View data |
| 3 | 3 Estonia | 10 | 2023 | +0.34% | -0.71% | View data |
| 4 | 4 France | 5.57 | 2023 | +4.01% | +5.53% | View data |
| 5 | 5 Germany | 5.15 | 2023 | +1.56% | +1.87% | View data |
| 6 | 6 United States | 5.12 | 2023 | -2.18% | -2.1% | View data |
| 7 | 7 Belgium | 3.34 | 2023 | +2.56% | +4.27% | View data |
| 8 | 8 Romania | 2.29 | 2023 | +4.11% | +5.13% | View data |
| 9 | 9 India | 1.1 | 2023 | +1.49% | +0.55% | View data |
| 10 | 10 Italy | 0.78 | 2023 | -2.4% | -3.19% | View data |
