How is the global supply-demand balance for benzoic acid evolving?

How is the global supply-demand balance for benzoic acid evolving?
Global benzoic acid capacity reached 840,000 tonnes in 2023 and is projected to grow to about 906,000 tonnes by 2028. However, sales volume has lagged, rising only from 247,000 tonnes in 2018 to 265,000 tonnes in 2023, a CAGR of just 1.4%. China accounts for the bulk of demand growth, with sales climbing from 125,000 to 149,000 tonnes over the same period, a 3.6% CAGR. The key growth driver is the global move to reduce antibiotic use in animal feed, which is boosting demand for benzoic acid as a feed acidifier. By 2028, global sales are expected to reach 357,000 tonnes, implying a much faster 5.7% CAGR.