Propionic Acid Market: Industry Outlook by 2026Posted by PratikshaM on July 30th, 2019 According to a new market report published by Transparency Market Research “Propionic Acid Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019”, the global propionic acid market was valued at USD 908.0 million in 2012 and is expected to reach USD 1,540.5 million by 2019, growing at a CAGR of 7.7% over the forecast period from 2013 to 2019. In terms of volume, the market was valued at 381.7 kilo tons in 2012 and is expected to grow at a CAGR of 2.3% over the forecast period from 2013 to 2019. Planning to lay down strategy for the next few years? Our report can help shape your plan better Growing global food and beverage industry is expected to fuel the preservatives market which in turn is expected to drive the global propionic acid market. Rising demand from end-use industries in emerging economies such as Asia Pacific provides huge potential for growth in the propionic acid market. Moreover, the growing pharmaceutical industry has been contributing to the growth of the market. Additionally, increasing demand for Vitamin E is expected to create opportunities for the propionic acid market in the near future. However, market growth may be hampered during the forecast period due to adverse effects of propionic acid on human health and environment. Animal feed and grain preservatives led the market with 52.5% of global demand in 2012. It is expected to experience slight increase in its market share in the next few years due to increase in livestock farming that resulted in growing demand for animal feed and grain preservatives. Calcium and sodium propionates accounted for second largest application segment of the global propionic acid demand in 2012. Cellulose Acetate Propionate (CAP) is anticipated to grow steadily at a CAGR of 1.9% from 2013 to 2019. On the other hand, the herbicides market is expected to experience sluggish growth in the coming years due to health hazards caused by herbicides. The global propionic acid market was led by Europe with 39.9% market share in 2012. Europe is expected to show steady growth in the near future as compared to other emerging economies. North America followed Europe and is expected to experience slight decline in its market share by 2019. Asia Pacific is expected to be fastest growing segment during the forecast period. Rest of the World (RoW) that includes Latin America, Middle East and Africa is expected to experience steady growth in 2019 owing to increasing propionic acid imports in the region. Key market players include BASF SE, the Dow Chemical Company, Perstorp Holding GmbH and Eastman Chemical Company. The market for propionic acid is highly concentrated, with the top three players accounted for more than 80% of the global market in 2013. About Us Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals. Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories. TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision. Like it? Share it! More by this author |