Propionic acid Market
Propionic acid Market Trends Analysis, By End-user (Chemical, Agriculture, Healthcare), By Application (Food preservation and food additive, Production of Cellulose acetate propionate), By Grade (Biotech/Analytical, Technical) & By Region Forecast - 2018 to 2028
Analysis of Propionic acid Market Covering 30 + Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Market Outlook of propionic acid:
The market for Propionic acid is anticipated to increase globally seeing its potential application in food, feed, and health industries because of its wide range of applications. Propionic acid is a carboxylic acid which occurs naturally. It is colorless oily liquid with pungent, rancid odor. Propionic acid is also known by the name ethyl formic acid, carboxyethane, ethane carboxylic acid, carboxylic acid, etc. The reaction of carbon monoxide and ethylene produces propionic acid. The widespread consumption of canned food products has led to increased demand for food preservatives driving the Propionic acid market. Propionic acid hinder the growth of fungus and bacteria and hence is used as a preservative for animal feed and in food for human consumption. Propionic acid is used as a food additive, food preservative and flavoring agent in food products like baked goods and cheese. One of the essential factors proving to be the critical driver in the Propionic acid market is the fact that Propionic acid is used as a half in the production of other chemicals. It is used as an antiketogenic, glycogenic and antifungal agent. The increase of cosmetic and personal care product has also led to the growing demand for propionic acid which is used to control the PH level of these products.
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Reasons for covering propionic acid as title:
With the rapid increase in urbanization, the consumption of canned food is increasing which is resulting in the expansion of food preservative market which is supplementing the growth of Propionic acid. The propionic acid having antimicrobial and antifungal property and having a significant element of vitamin E is used as feed preservative. Increasing concern for improving animal nutrition is anticipated to grow the market of Propionic acid. One of the critical drivers for the propionic acid market is the fact that Propionic acid is also used as an intermediate in the production of other chemicals. One such chemical is cellulose acetate propionate (CAP). Cellulose acetate propionate (CAP) is a vital thermoplastic cellulose ester. Growing demand for CAP has resulted in the increased market for Propionic acid. Increasing use of cosmetic and personal care product will expand the market for Propionic acid as it is used to control the PH level in them.
Propionic acid Market: Key Players
Some of the key players operating in the global Propionic acid market are
- BASF-SE
- The Dow chemical company
- Mitsubishi chemical holding
- Eastman Chemical Company
- The Perstorp Group
- Hawkins, Inc.
- Macco Organiques Inc
- Linde AG
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Key Developments in propionic acid market:
- In June 1, 2017 BASF and SINOPEC expanded capacity for propionic acid in Nanjing, China. The expansion is due to growing demand for food and feed preservation which improves the shelf life of the product
- In December 11, 2017 Dow Industrial Solutions, a business unit of The Dow Chemical Company, announced plans to expand its propionic acid facility in Texas City, to meet the rising global demands
Propionic acid Market Opportunities:
Attributed to increasing hectic lifestyles, the consumption trend among consumers is resulting in changes in the food industry and has resulted in positive momentum for propionic acid manufacturers. The consumption of canned and longer lasting food products has increased, thus increasing the demand of Propionic acid as a preservative, thus driving the growth of propionic acid in the near future. As an antimicrobial and antifungal, feed additive, Propionic acid is efficient than others. Moreover, Propionic acid is also used as a preservative in grains and feed for animal food production as a mold inhibitor which has led to the increase in the demand of propionic acid. Feed grain preservation using propionic acid is more economical and ecologically sound resulting in a growing market for Propionic acid. One of the key drivers for the Propionic acid market is its use in the manufacturing of other chemical components such as cellulose acetate propionate (CAP). The growing demand for CAP is expected to lead a positive momentum in the growth of propionic acid market. Rising demand from end-use industries in developing economies such as the Asia Pacific provides excellent potential for growth in the propionic acid market in the region. The USA and Western Europe are estimated to stand among significant exporters of propionic acid. Moreover, the growing pharmaceutical industry has been contributing to the growth of the market.
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Brief Approach to Research Propionic acid Market
A modelling-based approach and triangulation methodology will be followed to estimate data covered in this propionic acid. A detailed market understanding and assessment of the applications, types, forms and end uses of the product segments covered in the study is followed by carrying out a demand-side approach to estimate the sales of target product segments, which is then cross-referenced with a supply-side assessment of value generated over a pre-defined period. The statistics and data is collected at a regional level, consolidated and synthesized at a global level to estimate the overall market sizes.
Key Data Points Covered in the Report
Some of the key data points covered in our report on include:
- An overview of the market, including background and evolution
- Macroeconomic factors affecting the market and its potential
- Market dynamics, such as drivers, challenges and trends
- Detailed value chain analysis of the propionic acid market
- Cost structure of the products and segments covered in the study
- In-depth pricing analysis, by key product segments, regions and by major participants of propionic acid market
- Analysis of supply and demand, such as top producing and consuming geographies, imports/exports and overall trade scenario of propionic acid
- Analysis of the market structure, including a tier-wise categorization of key market participants of propionic acid
- Competitive landscape of the market, including detailed profiles of the top players in propionic acid market
This analytical research study imparts an all-inclusive assessment on the market, while propounding historical intelligence, actionable insights, and industry-validated & statistically-upheld market forecast. Verified and suitable set of assumptions and methodology has been leveraged for developing this comprehensive study. Information and analysis on key market segments incorporated in the report has been delivered in weighted chapters. A thorough analysis has been offered by the report on
- Market Dynamics
- Market Size
- Market Segments
- Demand & Supply Trends
- Current Issues and Challenges
- Companies and Competitor Landscape
- Value Chain
- Technology
Regional Segments Analyzed Include
- North America (U.S., Canada)
- Latin America (Mexico. Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Japan
- Middle East and Africa (GCC, S. Africa, N. Africa)
Compilation of authentic and first-hand intelligence, insights offered in the report are based on quantitative and qualitative assessment by leading industry experts, and inputs from opinion leaders & industry participants around the value chain. Growth determinants, macroeconomic indicators, and parent market trends have been scrutinized and delivered, coupled with the market attractiveness for each market segment encompassed. Qualitative impact of growth influencers on the market segments across regions has also been mapped by the report.
Highlights from the Report
- Elaborated scenario of the parent market
- Transformations in the market dynamics
- Detailed segmentation of the target market
- Historical, current and forecast market size based on value and volume
- Latest industry developments and trends
- Competition landscape
- Strategies adopted by the market players and product developments made
- Potential and niche segments, along with their regional analysis
- Unbiased analysis on performance of the market
- Up-to-date and must-have intelligence for the market players to enhance and sustain their competitiveness
Propionic acid: Market Segmentation
On the basis of end user, the Propionic acid market has been segmented as –
- Chemical
- Agriculture
- Healthcare
- Personal care
- Food and Beverages
On the basis of application, the Propionic acid market has been segmented as –
- Food preservation and food additive
- Production of Cellulose acetate propionate
- Chemical intermediate for herbicides, pharmaceuticals, dyes, textile and rubber products, plastics, plasticizers etc.
On the basis of grade, the Propionic acid market has been segmented as –
- Biotech/Analytical(high purity)
- Technical(low purity)
On the basis of region, the global Propionic acid market has been segmented as:
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Mexico
- Argentina
- Chile
- Peru
- Rest of Latin America
- Europe
- EU-4 (Germany, France, Italy, Spain)
- U.K.
- BENELUX (Belgium, Netherlands, Luxemburg)
- NORDIC (Norway, Denmark, Iceland, Sweden)
- Eastern Europe (Poland, Ukraine, Czech Rep., etc.)
- Rest of Europe
- CIS & Russia
- Japan
- APEJ
- Greater China
- India
- S. Korea
- ASEAN Countries
- Rest of APEJ
- Middle East & Africa
- GCC Countries
- Turkey
- Iran
- Israel
- South Africa
Table of Content
1. Executive Summary 2. Industry Introduction, including Taxonomy and Market Definition 3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments 4. Global Market Demand Analysis and Forecast, including Historical Analysis and Future Projections 5. Pricing Analysis 6. Global Market Analysis and Forecast 6.1. End User 6.2. Application 6.3. Grade 7. Global Market Analysis and Forecast, By End User 7.1. Chemical 7.2. Agriculture 7.3. Healthcare 7.4. Personal care 7.5. Food and Beverages 8. Global Market Analysis and Forecast, By Application 8.1. Food preservation and food additive 8.2. Production of Cellulose acetate propionate 8.3. Chemical intermediate 9. Global Market Analysis and Forecast, By Grade 9.1. Biotech/Analytical(high purity) 9.2. Technical(low purity) 10. Global Market Analysis and Forecast, By Region 10.1. North America 10.2. Latin America 10.3. Western Europe 10.4. Eastern Europe 10.5. East Asia 10.6. South Asia & Pacific 10.7. MEA 11. North America Sales Analysis and Forecast, by Key Segments and Countries 12. Latin America Sales Analysis and Forecast, by Key Segments and Countries 13. Western Europe Sales Analysis and Forecast, by Key Segments and Countries 14. Eastern Europe Sales Analysis and Forecast, by Key Segments and Countries 15. East Asia Sales Analysis and Forecast, by Key Segments and Countries 16. South Asia & Pacific Sales Analysis and Forecast, by Key Segments and Countries 17. MEA Sales Analysis and Forecast, by Key Segments and Countries 18. Sales Forecast by End User, Application, and Grade for 30 Countries 19. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard 20. Company Profile 20.1. BASF-SE 20.2. The Dow chemical company 20.3. Mitsubishi chemical holding 20.4. Eastman Chemical Company 20.5. The Perstorp Group 20.6. Hawkins, Inc. 20.7. Macco Organiques Inc 20.8. Linde AG
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List Of Table
Table 1: Global Market US$ Mn Forecast by Region
Table 2: Global Market US$ Mn Forecast by End User
Table 3: Global Market US$ Mn Forecast by Application
Table 4: Global Market US$ Mn Forecast by Grade
Table 5: North America Market US$ Mn Forecast by Country
Table 6: North America Market US$ Mn Forecast by End User
Table 7: North America Market US$ Mn Forecast by Application
Table 8: North America Market US$ Mn Forecast by Grade
Table 9: Latin America Market US$ Mn Forecast by Country
Table 10: Latin America Market US$ Mn Forecast by End User
Table 11: Latin America Market US$ Mn Forecast by Application
Table 12: Latin America Market US$ Mn Forecast by Grade
Table 13: Western Europe Market US$ Mn Forecast by Country
Table 14: Western Europe Market US$ Mn Forecast by End User
Table 15: Western Europe Market US$ Mn Forecast by Application
Table 16: Western Europe Market US$ Mn Forecast by Grade
Table 17: Eastern Europe Market US$ Mn Forecast by Country
Table 18: Eastern Europe Market US$ Mn Forecast by End User
Table 19: Eastern Europe Market US$ Mn Forecast by Application
Table 20: Eastern Europe Market US$ Mn Forecast by Grade
Table 21: East Asia Market US$ Mn Forecast by Country
Table 22: East Asia Market US$ Mn Forecast by End User
Table 23: East Asia Market US$ Mn Forecast by Application
Table 24: East Asia Market US$ Mn Forecast by Grade
Table 25: South Asia & Pacific Market US$ Mn Forecast by Country
Table 26: South Asia & Pacific Market US$ Mn Forecast by End User
Table 27: South Asia & Pacific Market US$ Mn Forecast by Application
Table 28: South Asia & Pacific Market US$ Mn Forecast by Grade
Table 29: MEA Market US$ Mn Forecast by Country
Table 30: MEA Market US$ Mn Forecast by End User
Table 31: MEA Market US$ Mn Forecast by Application
Table 32: MEA Market US$ Mn Forecast by Grade
Table 33: Region Market US$ Mn Forecast by Country
Table 34: Region Market US$ Mn Forecast by End User
Table 35: Region Market US$ Mn Forecast by Application
Table 36: Region Market US$ Mn Forecast by Grade
Table 37: North America Market US$ Mn Forecast by Country
Table 38: North America Market US$ Mn Forecast by End User
Table 39: North America Market US$ Mn Forecast by Application
Table 40: North America Market US$ Mn Forecast by Grade
Table 41: Latin America Market US$ Mn Forecast by Country
Table 42: Latin America Market US$ Mn Forecast by End User
Table 43: Latin America Market US$ Mn Forecast by Application
Table 44: Latin America Market US$ Mn Forecast by Grade
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List Of Figures
Figure 1: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by End User
Figure 2: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 3: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Grade
Figure 4: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Region
Figure 5: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by End User
Figure 6: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 7: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Grade
Figure 8: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 9: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by End User
Figure 10: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 11: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Grade
Figure 12: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 13: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by End User
Figure 14: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 15: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Grade
Figure 16: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 17: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by End User
Figure 18: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 19: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Grade
Figure 20: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 21: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by End User
Figure 22: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 23: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Grade
Figure 24: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 25: South Asia & Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by End User
Figure 26: South Asia & Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 27: South Asia & Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Grade
Figure 28: South Asia & Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 29: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by End User
Figure 30: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 31: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Grade
Figure 32: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 33: Region Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by End User
Figure 34: Region Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 35: Region Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Grade
Figure 36: Region Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 37: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by End User
Figure 38: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 39: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Grade
Figure 40: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 41: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by End User
Figure 42: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 43: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Grade
Figure 44: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
- FAQs -
What is the future value of the propionic acid market?
The global propionic acid market is set to reach US$ 1.7 billion by 2028.
What is the projected CAGR for the global propionic acid market?
The global demand for propionic acid is estimated to expand at a CAGR of 3.5% during the forecast period.
Who are the leading players in the propionic acid market?
BASF-SE, The Dow chemical company, Mitsubishi chemical holding, Eastman Chemical Company, and The Perstorp Group are key suppliers of propionic acid.
Propionic acid Market