New Product Launches to Increase their Presence in the Benzenoid Market.
The global benzenoid chemicals market 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 primarily driven by factors such as steadily goring cosmetics, personal care and beauty market, cheaper availability of raw materials, and increasing trend of unique aroma formulations.
The benzenoid chemicals market is dominated by few globally established players such as Tennants Fine Chemicals Ltd. (England), Jayshree Aromatics Pvt. Ltd. (India), Emerald Kalama Chemical (US), International Flavors & Fragrances, Inc. (US), and Eternis Fine Chemicals (India). These players have adopted various growth strategies such as partnerships, agreements, collaborations, and new product launches to increase their presence in the global market.
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Jayshree Aromatics Pvt. Ltd. has gradually emerged as a strong player globally in the aroma chemicals sector. The company’s operations are a 100% concentrated on exports. The company has a strong backing for conducting processes, such as chlorination, hydrogenation, distillation and acetylation, in the same premise. The company’s growth is firmly driven by innovative chemistry and technology. Jayshree Aromatics Pvt. Ltd. has maintain a strong certification portfolio including ISO, HACCP, FSSAI, HALAL & KOSHER and REACH certifications. These have helped the company develop as a strong exporter of the aroma chemicals globally.
Tennants Fine Chemicals is a key aroma chemicals and acetate ester chemicals manufacturer in the UK. It is owned by Tennants Consolidated Ltd. The company serves manufacturers with chemicals required in primary manufacturing processes and has over the years successfully developed an export network in over 90 countries worldwide. The three key areas of operation of the organization include: distribution of chemicals, production of specialty chemicals and services. Tennants Fine Chemicals Ltd. has established manufacturing sites in North America, South America, Europe and China.
Emerald Kalama Chemical a business unit of Emerald Performance Chemicals offers wide range of flavor and fragrance intermediates, food & beverages preservatives, plasticizers, and other additives. This company was formed after the merger of aroma chemical business of Innospec Inc. in 2015 with Emerald Kalama, after an investment of USD 40 million. It focuses on investing in the toluene oxidation chemistry. It is one of the leading global producers of benzoic acid, benzyl alcohol, benzaldehyde, sodium benzoate, potassium benzoate, and specialty derivatives such as linear aldehydes and hexyl cinnamic aldehyde. The company offers its products through three product segments, namely, benzoates & intermediates, aroma chemicals/flavor & fragrance, and K-FLEX (non-phthalate, low-VOC plasticizers, and coalescent). The company has its manufacturing facilities located in Kalama (US), Rotterdam (Netherlands), and Widnes (UK). It offers its products to 70 countries across the globe. The company majorly exports benzoic acid to various plastic additive manufacturers in Asia. Aroma chemicals are exported to the key markets of Mexico and Argentina. Some of its key clients in these markets are Firmenich Argentina, Brenntag, and IFF Mexico.
Related Reports:
Benzenoid Market by type (Benzyl Acetate, Benzoate, Chloride, salicylate, Benzaldehyde, Cinnamyl, vanillin), by application (soaps & detergents, food & beverage, household products), by region – Global forecast to 2025
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