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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 2022 – 2028

Covid-19

Global Propionic Acid Market Size, Share

The pandemic continues to cause unprecedented disruption across industries worldwide.Get detailed insights regarding the impact of COVID-19 on the market. Request Sample

Industry Insights

[214+ Pages Report] 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

logoMarket Overview

Propionic Acid is a chemical solution that is produced by hydro carboxylation of ethylene while using nickel carbonyl as a catalyst in the process. Propionic Acid is colorless and has a strong pungent smell and is mostly used in the manufacturing of food preservatives. Its high boiling point gives it a unique characteristic and hence has found the scope of application in multiple industries across the world.  It is also antifungal and antimicrobial and hence used in crops and food-related products to secure them

The rising use of packaged foods and their manufacturing has increased the demand for food preservatives that are made using Propionic Acid and hence this factor is majorly driving the Propionic Acid market growth over the forecast period. Changing lifestyle trends will also alter the propionic acid market potential over the years to come. Rising environmental concerns against the use of harmful chemicals and stringent regulations to govern the same are expected to have a restraining effect on the global Propionic Acid market growth over the forecast period.

Global Propionic Acid Market

logoImpact of COVID - 19

The COVID-19 pandemic led to the downfall of the Propionic Acid market and this can be attributed to the closure of nearly all of the global industrial and manufacturing sectors. Lockdown restrictions imposed to control the spread of coronavirus infections across the world made it impossible for the manufacturing and industrial sectors to function and since this is a major end-use vertical for the Propionic Acid market it led to a negative impact on the growth trend. Lapses in logistics, disrupted international trade activity, unavailability of skilled labor, and closure of multiple distribution channels were other factors that hindered the Propionic Acid market potential in 2020. The lockdown restrictions are being lifted on a global scale as infections are subsiding and successful vaccination drives are able to control the pandemic situation and this will aid the Propionic Acid market to make a steady recovery. Industrial activity resumption to pre-pandemic levels will boost the demand for Propionic Acid through 2028.

The complete research study looks at both the qualitative and quantitative aspects of the Propionic Acid market. Both the demand and supply sides of the market have been investigated. The demand side study examines market income in various regions before comparing it to all of the major countries. The supply-side research examines the industry's top rivals, as well as their regional and global presence and strategies. Each major country in North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America is thoroughly investigated.

logoSegmentation Analysis

The global Propionic Acid market is segregated based on product types, applications, and regions.

In terms of the end-user industry, the food and beverage industries are projected to emerge as the most lucrative segment in the global Propionic Acid market landscape. Increasing demand for packaged foods and the rising use of preservatives in them are expected to propel Propionic Acid demand over the coming years. Changing lifestyle trends and rising consumption of packaged foods will further bolster the growth in this segment through 2028.

Based on application, the Propionic Acid market will be dominated by the food preservatives application owing to rising demand on a global scale. Increasing consumption of packaged foods coupled with rising disposable income will drive the demand for the food preservatives segment and subsequently drive the Propionic Acid market as well through 2028.

logoReport Scope

Report Attribute

Details

Market Size in 2021

USD 1,482.2 Million

Projected Market Size in 2028

USD 1,801.4 Million

CAGR Growth Rate

3.3% CAGR

Base Year

2021

Forecast Years

2022-2028

Key Market Players

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, and Others

Key Segment

By End-User Industry, Application, and Region

Major Regions Covered

North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa

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logoRegional Landscape

The European region will be leading the global propionic acid market in terms of revenue and volume share and see exponential growth over the forecast period owing to the consumption of packaged foods in this region. The rising use of Propionic Acid in the pharmaceutical sector will also favor the Propionic Acid market potential over the coming years.

The presence of major food and beverage manufacturers in this region and the rising disposable income of the population will further boost the Propionic Acid market potential in this region through 2028.  

logoList 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;

logoBy End-user Industry Segment Analysis

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

logoBy Application Segment Analysis

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

logoBy Regional Segment Analysis

  • 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

Covid-19

Propionic Acid Market

The pandemic continues to cause unprecedented disruption across industries worldwide.Get detailed insights regarding the impact of COVID-19 on the market. Request Sample

Industry Major Market Players

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

Frequently Asked Questions

The global propionic acid market was valued at USD 1,482.2 Million in 2021.
The global propionic acid market is expected to reach USD 1801.4 Million by 2028, growing at a CAGR of 3.3% in between 2022 to 2028.
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.
Europe is expected to witness notable growth of the propionic acid market during forecast period.
Some of the major companies operating in the propionic acid market are BASF SE, Dow Inc, Eastman Chemical Company, Perstorp Holding AB, Hawkins,Inc, CORBION N.V, Otto Chemie Pvt. Ltd, Merck KGaA, Oman Oil Comapny SAOC, Celanese Corporation and among others.
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