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Propionic Acid Market Key Players:Some of the prominent players operating in the global propionic acid market are BASF SE (Germany), The Dow Chemical Company (U.S.), Perstorp Orgnr (Sweden), Eastman Chemical Company (U.S.), and Macco Organiques Inc. (Canada). BIOMIN Holding GmbH (Austria), Krishna Chemicals (India), A.M. Food Chemical Co., Ltd. (China), Merck KGaA (Germany), and OXEA GmbH (Germany) among others.
Propionic Acid Market Introduction:
Propionic Acid (PA) is a naturally occurring carboxylic acid that is a colorless liquid with rancid odor. Propionic acid occurs naturally in essential oils in the form of esters. It can be commercially obtained by hydrocarboxylation of ethylene in the presence of nickel carbonyl as a catalyst.
Propionic Acid Market is majorly driven by its application in animal feed and in food preservatives. Around 50% of the global propionic acid is consumed in animal feedstock and food preservatives. About 30% is used for production of its calcium, ammonium, and sodium salts, which are also used in food industry. The other major drivers of the global propionic acid market include increase in consumption of herbicides in agriculture, which is likely to drive the market demand. The production of cellulose acetate propionate (CAP) is the underlying driver of the global market. It is highly used in applications requiring low odor, clarity, fast solvent release, anti-blocking and good adhesion to a variety of substrates.
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Propionic Acid Market Scenario:
Propionic Acid Market is spanned across the five regions of Europe, North America, Asia Pacific, Latin America, and the Middle East & Africa. Among these, Europe is the leading region in the global propionic acid market on account of the favouring regulations and growth for animal feedstock.
North America is anticipated to grow at a significant CAGR on account of the high demand for the product from pharmaceuticals and food & beverage industry in this region.
Asia Pacific is expected to be the fastest emerging region due to the high demand for propionic acid as animal feedstock, herbicide and food preservative from major agricultural countries in this region.
Propionic Acid Market Segmental Analysis:
Propionic Acid Market is segmented into application and end-use industry. On the basis of application, the market is segregated into animal feed & food preservative, propionates, herbicides, plasticizers, rubber products, and others. The market by end-user is further bifurcated into agriculture, food & beverage, personal care, pharmaceuticals, and others.
Propionic Acid Market Table of Content:
1 Executive Summary
2 Scope of the Report
2.1 Market Definition
2.2 Scope of the Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
4 Market Landscape
4.1 Porter’s Five Forces Analysis
4.1.1 Threat of New Entrants
4.1.2 Bargaining Power of Buyers
4.1.3 Threat of Substitutes
4.1.4 Segment Rivalry
4.2 Value Chain/Supply Chain of Global Propionic Acid Market
5 Industry Overview of Global Propionic Acid Market
5.1 Introduction
5.2 Growth Drivers
5.3 Impact Analysis
5.4 Market Challenges
Propionic Acid Market Table of Content to be Continue….,
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Website: https://www.marketresearchfuture.com/reports/propionic-acid-market-1122
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