Propionic acid occurs naturally in the form of esters in essential oils. Propionic acid and its salts, mainly calcium, sodium, and ammonium, are used as preservatives for packed food, stored grain, and animal feed. Nearly 80% of the global propionic acid is consumed as preservatives. Another major use of propionic acid is in the production of diethyl ketone and Cellulose Acetate Propionate (CAP). Propionic acid serves as an intermediate in the production of herbicides, pharmaceuticals, dyes, textiles, plasticizers, cosmetics, and rubber products.
Increasing global demand for hygienic food is expected to propel the growth of the propionic acid market. There has been a significant increase in packaged food consumption, owing to changing lifestyles and preservatives being an integral part of convenience food. Growth of the agricultural industry is expected to further drive the propionic market. There is an ever-increasing demand for grain storage, herbicides, and pesticides. In addition, the demand for CAP from downstream industries is expected to influence the propionic market. However, direct human exposure to propionic acid can cause irritation and may be dangerous.
Area with Scope for Propionic Acid
In terms of consumption, Western Europe accounted for the largest market size in 2016. During the forecast period, the market is expected to register the highest CAGR of XX%, followed by North America and Asia-Pacific. Western Europe and North America are the major regions for producing and exporting calcium and sodium propionates. The propionates are preferred over propionic acid in food and feed applications, as they are less corrosive and easier to handle. The factors are expected to drive the propionic acids market in the regions. The consumption growth rate in Asia-Pacific, Middle East & Africa, and South America are expected to increase during the forecast period.
Notable Developments in the Market
In Jun 2017, BASF & SINOPEC expanded the capacity of the current propionic acid production, with the addition of 30,000 metric ton at Verbund Site, BASF-YPC Company Limited, a joint venture in Nanjing, China. The production expansion capacity would increase up to 69,000 metric ton at the Verbund site in China. BASF is still expected to remain as one of the leading producers of propionic acid in Asia.
The global chemical company, Oxea, expanded the production capabilities for butyric acid and propionic acid in Oberhausen, Germany.
Why Purchase the Global Propionic Acid Market Report?
Know About: The latest news and innovations of the global propionic acid market manufacturers
Analyzing various market perspectives, with the help of Porter’s five forces analysis
Which end-user industry of propionic acid is expected to dominate the market?
Which application of propionic acid is expected to dominate the market?
Which regions are expected to witness the fastest growth during forecast period?
Identify the latest developments, market shares, and strategies employed by the major market players, such as:
Eastman Chemical Company
1.1 Scope of the Report
1.2 Research Methodology
2. Executive Summary
3. Market Insights
3.1 Industry Value-Chain Analysis
3.2 Industry Attractiveness - Porter’s Five Forces Analysis
3.2.1 Bargaining Power of Suppliers
3.2.2 Bargaining Power of Consumers
3.2.3 Threat of New Entrants
3.2.4 Threat of Substitute Products and Services
3.2.5 Degree of Competition
3.3 Feedstock Analysis
3.3.1 Global Capacity by Key Feedstock
3.4 Technological Snapshot
3.4.1 Production Process
3.4.2 Technology Licensing and Patent Analysis
3.5 Trade Analysis
3.6 Price Index
3.7 Supply Scenario
3.7.1 Capacity and Production Analysis
22.214.171.124 Major Plants and Locations (Installed Capacities)
3.8 Upcoming Projects & Capital Expenditure
3.9 Regulatory Policy Analysis
4. Market Dynamics
4.1.1 Increasing Demand for Grain Preservatives and Safe Animal Feed
4.1.2 Growing Convenience Food Industry
4.1.3 Demand for CAP from the Down-stream Industry
4.1.4 Other Drivers
4.2.1 Detrimental Effects of Propionic Acids on Human Health
4.2.2 Other Restraints
4.3.1 Propionate Esters as Replacements for Solvents
4.3.2 Other Opportunities
5. Market Segmentation and Analysis ( Market Size, Growth, and Forecast)
5.1 By Application
5.1.1 Animal Feed & Food Preservatives
5.1.2 Calcium, Ammonium & Sodium Salts
5.1.3 Cellulose Acetate Propionate
5.1.6 Rubber Products
5.2 By End-user Industry
5.2.2 Food & Beverage
5.2.3 Personal Care
6. Regional Analysis ( Market Size, Growth, and Forecast)
6.1.4 South Korea
6.1.5 Rest of Asia-Pacific
6.2 North America
6.2.1 United States
6.2.4 Rest of North America
6.3.2 United Kingdom
6.3.6 Rest of Europe
6.4 South America
6.4.3 Rest of South America
6.5 Middle East & Africa
6.5.1 Saudi Arabia
6.5.2 South Africa
6.5.3 Rest of Middle East and Africa
7. Future of the Market
8. Competitive Landscape
8.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
8.2 Market Share Analysis
8.3 Strategies Adopted by Leading Players
9. Company Profiles
9.2 The Dow Chemical Company
9.3 Eastman Chemical Company
9.4 Hawkins, Inc.
9.5 SINOPEC Qilu
9.6 Yancheng Huade Biological Engineering Co. Ltd.
9.8 Daicel Corporation
9.10 Shanghai Jianbei Organic Chemical Co. Ltd.
9.11 Macco Organiques Inc.
9.12 Yancheng Hongtai Bioengineering Co. Ltd.
*List not Exhaustive