Global Propionic Acid Market Size Study, by Application (Animal Feed, Calcium and Sodium Propionate, Cellulose Acetate Propionate), and Regional Forecasts 2022-2032

Description

The Global Propionic Acid Market, valued at approximately USD 1.11 billion in 2023, is projected to grow steadily at a CAGR of 3.40% to reach USD 1.50 billion by 2032. Propionic acid, a naturally occurring carboxylic acid, is extensively utilized in various industrial applications due to its remarkable preservative and antimicrobial properties. Known for its efficacy in controlling mold and bacterial growth, this compound plays a critical role in maintaining the integrity and quality of animal feed, food preservatives, and industrial products.

Rising demand for sustainable and cost-effective preservatives in the agricultural and food sectors significantly drives the market. The application of propionic acid in animal feed, as calcium and sodium propionate, ensures extended shelf life and enhanced nutritional value, aligning with global efforts to reduce food wastage. Additionally, its integration into cellulose acetate propionate for specialized industrial applications underpins its versatility and expanding market potential. The growing preference for eco-friendly and biodegradable solutions further bolsters its adoption across various end-user industries.

However, the market encounters challenges such as fluctuating raw material prices and the environmental impact of propionic acid manufacturing. Technological advancements in production processes and innovations in green chemistry are expected to alleviate these concerns. The increasing adoption of propionic acid as an integral component in developing advanced formulations showcases its potential to cater to diverse consumer demands while adhering to stringent environmental regulations.

Regionally, North America and Europe dominate the propionic acid market, supported by well-established agricultural and industrial sectors and a growing emphasis on sustainable practices. The Asia-Pacific region is poised to exhibit the fastest growth, driven by rapid industrialization, expanding livestock production, and rising demand for high-quality feed and food preservatives. Emerging economies in Latin America, the Middle East, and Africa are also expected to contribute significantly to the market, leveraging their developing agricultural and industrial infrastructures.

Major market players included in this report are:

BASF SE
The Dow Chemical Company
Eastman Chemical Company
Perstorp Holding AB
Daicel Corporation
Oxea GmbH
Merck KGaA
Hawkins, Inc.
Macco Organiques Inc.
Tokyo Chemical Industry Co., Ltd.
A.M. Food Chemicals Co., Ltd.
Krishna Chemicals
Celanese Corporation
Ashok Alco - chem Limited
LyondellBasell Industries Holdings B.V.

The detailed segments and sub-segments of the market are explained below:

By Application:

Animal Feed
Calcium and Sodium Propionate
Cellulose Acetate Propionate

By Region: North America:

U.S.
Canada

Europe:

UK
Germany
France
Spain
Italy
Rest of Europe

Asia Pacific:

China
India
Japan
Australia
South Korea
Rest of Asia Pacific

Latin America:

Brazil
Mexico
Rest of Latin America

Middle East & Africa:

Saudi Arabia
South Africa
Rest of Middle East & Africa

Key Takeaways:

Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and regional-level analysis for each market segment.
Detailed analysis of the geographical landscape with country-level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approaches.
Analysis of the competitive structure of the market.
Demand-side and supply-side analysis of the market.

Chapter 1. Global Propionic Acid Market Executive Summary

1.1. Global Propionic Acid Market Size & Forecast (2022-2032)
1.2. Regional Summary
1.3. Segmental Summary
- 1.3.1. By Application
- 1.3.2. By Region
1.4. Key Trends
1.5. Recession Impact
1.6. Analyst Recommendation & Conclusion

Chapter 2. Global Propionic Acid Market Definition and Research Assumptions

2.1. Research Objective
2.2. Market Definition
2.3. Research Assumptions
- 2.3.1. Inclusion & Exclusion
- 2.3.2. Limitations
- 2.3.3. Supply Side Analysis
  - 2.3.3.1. Availability
  - 2.3.3.2. Infrastructure
  - 2.3.3.3. Regulatory Environment
  - 2.3.3.4. Market Competition
  - 2.3.3.5. Economic Viability (Consumer's Perspective)
- 2.3.4. Demand Side Analysis
  - 2.3.4.1. Regulatory Frameworks
  - 2.3.4.2. Technological Advancements
  - 2.3.4.3. Environmental Considerations
  - 2.3.4.4. Consumer Awareness & Acceptance
2.4. Estimation Methodology
2.5. Years Considered for the Study
2.6. Currency Conversion Rates

Chapter 3. Global Propionic Acid Market Dynamics

3.1. Market Drivers
- 3.1.1. Rising Demand in Animal Feed Applications
- 3.1.2. Technological Advancements in Formulation
- 3.1.3. Growth in Agricultural and Food Sectors
3.2. Market Challenges
- 3.2.1. Fluctuating Raw Material Prices
- 3.2.2. Environmental Impact of Manufacturing Processes
3.3. Market Opportunities
- 3.3.1. Development of Eco-Friendly Formulations
- 3.3.2. Expansion into Emerging Markets
- 3.3.3. Innovation in Advanced Applications

Chapter 4. Global Propionic Acid Market Industry Analysis

4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.1.6. Futuristic Approach to Porter's 5 Force Model
- 4.1.7. Porter's 5 Force Impact Analysis
4.2. PESTEL Analysis
- 4.2.1. Political
- 4.2.2. Economical
- 4.2.3. Social
- 4.2.4. Technological
- 4.2.5. Environmental
- 4.2.6. Legal
4.3. Top Investment Opportunities
4.4. Top Winning Strategies
4.5. Disruptive Trends
4.6. Industry Expert Perspective
4.7. Analyst Recommendation & Conclusion

Chapter 5. Global Propionic Acid Market Size & Forecasts by Application 2022-2032

5.1. Segment Dashboard
5.2. Global Propionic Acid Market: Application Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 5.2.1. Animal Feed
- 5.2.2. Calcium and Sodium Propionate
- 5.2.3. Cellulose Acetate Propionate

Chapter 6. Global Propionic Acid Market Size & Forecasts by Material Type 2022-2032

6.1. Segment Dashboard
6.2. Global Propionic Acid Market: Material Type Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 6.2.1. Metallic
- 6.2.2. Non-Metallic
- 6.2.3. Polymer
- 6.2.4. Glass
- 6.2.5. Ceramic

Chapter 7. Global Propionic Acid Market Size & Forecasts by Formulation Type 2022-2032

7.1. Segment Dashboard
7.2. Global Propionic Acid Market: Formulation Type Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 7.2.1. Water-Based
- 7.2.2. Solvent-Based
- 7.2.3. Powder Coating
- 7.2.4. Hybrid

Chapter 8. Global Propionic Acid Market Size & Forecasts by End Use Industry 2022-2032

8.1. Segment Dashboard
8.2. Global Propionic Acid Market: End Use Industry Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 8.2.1. Transportation
- 8.2.2. Oil and Gas
- 8.2.3. Manufacturing
- 8.2.4. Electronics
- 8.2.5. Energy

Chapter 9. Global Propionic Acid Market Size & Forecasts by Region 2022-2032

9.1. North America Propionic Acid Market
- 9.1.1. U.S. Propionic Acid Market
  - 9.1.1.1. Application Breakdown Size & Forecasts, 2022-2032
  - 9.1.1.2. Material Type Breakdown Size & Forecasts, 2022-2032
  - 9.1.1.3. Formulation Type Breakdown Size & Forecasts, 2022-2032
- 9.1.2. Canada Propionic Acid Market
9.2. Europe Propionic Acid Market
- 9.2.1. UK Propionic Acid Market
- 9.2.2. Germany Propionic Acid Market
- 9.2.3. France Propionic Acid Market
- 9.2.4. Spain Propionic Acid Market
- 9.2.5. Italy Propionic Acid Market
- 9.2.6. Rest of Europe Propionic Acid Market
9.3. Asia-Pacific Propionic Acid Market
- 9.3.1. China Propionic Acid Market
- 9.3.2. India Propionic Acid Market
- 9.3.3. Japan Propionic Acid Market
- 9.3.4. Australia Propionic Acid Market
- 9.3.5. South Korea Propionic Acid Market
- 9.3.6. Rest of Asia Pacific Propionic Acid Market
9.4. Latin America Propionic Acid Market
- 9.4.1. Brazil Propionic Acid Market
- 9.4.2. Mexico Propionic Acid Market
- 9.4.3. Rest of Latin America Propionic Acid Market
9.5. Middle East & Africa Propionic Acid Market
- 9.5.1. Saudi Arabia Propionic Acid Market
- 9.5.2. South Africa Propionic Acid Market
- 9.5.3. Rest of Middle East & Africa Propionic Acid Market

Chapter 10. Competitive Intelligence

10.1. Key Company SWOT Analysis
- 10.1.1. BASF SE
- 10.1.2. The Dow Chemical Company
- 10.1.3. Eastman Chemical Company
10.2. Top Market Strategies
10.3. Company Profiles
- 10.3.1. BASF SE
  - 10.3.1.1. Key Information
  - 10.3.1.2. Overview
  - 10.3.1.3. Financial (Subject to Data Availability)
  - 10.3.1.4. Product Summary
  - 10.3.1.5. Market Strategies
- 10.3.2. The Dow Chemical Company
- 10.3.3. Eastman Chemical Company
- 10.3.4. Perstorp Holding AB
- 10.3.5. Daicel Corporation
- 10.3.6. Oxea GmbH
- 10.3.7. Merck KGaA
- 10.3.8. Hawkins, Inc.
- 10.3.9. Macco Organiques Inc.
- 10.3.10. Tokyo Chemical Industry Co., Ltd.

Chapter 11. Research Process

11.1. Research Process
- 11.1.1. Data Mining
- 11.1.2. Analysis
- 11.1.3. Market Estimation
- 11.1.4. Validation
- 11.1.5. Publishing
11.2. Research Attributes