Global Propionic Acid Market Share Is Likely To Reach At A CAGR Value Of Around 3.3% By 2028

19-May-2022 | Facts and Factors

According to Facts and Factors, the global propionic acid market was valued at USD 1,482.2 million in 2021 and is predicted to increase at a CAGR of 3.3% to USD 1,801.4 million by 2028. The study examines the market in terms of revenue in each of the major regions, which are classified into countries.

Propionic Acid is a chemical used widely in the preparation of food preservatives and pesticides. It is a clear and strong pungent-smelling chemical with an extremely high boiling point of 141.15 degrees Celsius. It has antimicrobial and antifungal properties and hence is highly preferred in pesticide and preservative preparations. It is prepared by hydro carboxylation of ethylene and the process is done in the presence of a catalyst which is nickel carbonyl. The Increasing use of preservatives in packaged foods will majorly drive the Propionic Acid market growth over the forecast period. 

Browse the full “Propionic Acid Market By End-User Industry (Pharmaceuticals, Personal Care, Food & Beverage, Agriculture, Others), By Application (Herbicides, Rubber Products, Plasticizers, Food Preservatives, Others), and By Region - Global Industry Insights, Growth, Size, Share, Comparative Analysis, Trends and Forecast Report 2022 – 2028"  report at https://www.fnfresearch.com/propionic-acid-market

Increasing disposable income and changing lifestyle preferences are expected to boost demand for packaged foods and in turn, will drive the demand for Propionic Acid in the coming years. The rising use of Propionic Acid in pesticide preparation and other agriculture products will also favor the Propionic Acid market potential.  However, the rising environmental concerns and stringent mandates to regulate the same are expected to have a constraining effect on the global Propionic Acid market growth in the long term.

Segmental Overview

In terms of the end-user industry, the Propionic Acid market is further segmented into Pharmaceuticals, Personal Care, Food & Beverage, Agriculture, and Others. The food and beverage industry is anticipated to provide the most lucrative opportunities over the forecast period as consumption of packaged and convenience foods increases owing to rising disposable income. The pharmaceutical industry will also provide rewarding opportunities.

In terms of application, the Propionic Acid market is bifurcated into Herbicides, Rubber Products, Plasticizers, Food Preservatives, and Others. The demand for Propionic Acid is expected to be prominent in the food preservatives segment owing to rising demand from food manufacturers. The herbicides segment is also expected to see significant demand owing to rising demand from the agriculture sector. 

Regional Overview

The Propionic Acids market in the Europe region will record good growth over the forecast period owing to the rising consumption of packaged foods and the increasing disposable income of the general population. Changing consumer trends in the region will majorly influence the Propionic Acid market potential in this region. Germany, the United Kingdom, France, Spain, and Italy are expected to be the most lucrative markets in this region over the coming years.

The Increasing use of Propionic Acid in agriculture manufacturing and pharmaceutical applications will also favor the Propionic Acid market growth in this region over the forecast period.

Report Scope

Competitive Landscape

The report contains qualitative and quantitative research on the global propionic acid Market and detailed insights and development strategies employed by the leading competitors. The report also provides an in-depth analysis of the market's main competitors, as well as information on their competitiveness. The research also identifies and analyses important business strategies used by these main market players, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts. The study examines, among other things, each company's global presence, competitors, service offers, and standards.

List of Key Players in the Global Propionic Acid Market:

• BASF SE
• Dow Inc
• Eastman Chemical Company
• Perstorp Holding AB
• Hawkins, Inc
• CORBION N.V
• Otto Chemie Pvt. Ltd
• Merck KGaA
• Oman Oil Company SAOC
• Celanese Corporation

The global propionic acid market is segmented as follows;

By End-user Industry

• Pharmaceuticals
• Personal Care
• Food & Beverage
• Agriculture
• Others

By Application

• Herbicides
• Rubber Products
• Plasticizers
• Food Preservatives
• Others

By Region

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Nordic Countries
    • Denmark
    • Sweden
    • Norway
  • Benelux Union
    • Belgium
    • The Netherlands
    • Luxembourg
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Southeast Asia
    • Indonesia
    • Thailand
    • Malaysia
    • Singapore
    • Rest of Southeast Asia
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

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