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PUBLISHER: Grand View Research | PRODUCT CODE: 1571824
PUBLISHER: Grand View Research | PRODUCT CODE: 1571824
Propionic Acid Market Size, Share & Trends Analysis Report By Application (Animal Feed, Calcium And Sodium Propionate, Cellulose Acetate Propionate), By Region, And Segment Forecasts, 2024 - 2030
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PAGES: 80 Pages
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Propionic Acid Market Growth & Trends:
The global propionic acid market size is expected to reach USD 1.40 billion by 2030, expanding at a CAGR of 3.4% from 2024 to 2030, according to a new report by Grand View Research, Inc. Animal feed application dominated the market accounting for over 50% of global demand in 2013. Increasing demand for mold & bacteria curbing additives in animal feed coupled with growing concern for improving animal nutrition is expected to drive market growth.
Europe was the largest regional market accounting for over 35% of global market demand in 2013. Favorable regulatory scenario along with growing food preservative & animal feed market in the region has favored propionic acid demand over the past few years. The regional market is expected to continue dominance over the forecast period on account of new market supporting regulations and expanding niche applications including herbicides & bakery preservatives. 'The European Union Hygiene Directive' by REACH aims towards maintaining hygiene and quality of mixed-feed products and is expected to fuel market growth over the next six years.
Propionic Acid Market Report Highlights:
- The propionic acid market in North America is augmented by its significant uses in numerous sectors. Asia Pacific market is expected to grow at a CAGR of over 4.0% from 2024 to 2030 owing to expanding animal feed additives industry in Australia, India and China. Chinese market is characterized by growing demand in food preservatives and pharmaceuticals.
- Calcium and sodium propionate are expected to grow at a CAGR of 3.5% over the forecast period. Increasing packed food consumption due to changing lifestyle is expected to drive calcium & sodium propionate demand in food preservatives.
- The market comprises some major chemical manufacturing firms and is moderately consolidated. The market participants have been investing heavily on capacity expansions and application development. Some key players in the market include BASF, Eastman Chemical Company, Dow, Perstorp and Otto Chemie Pvt. Ltd.
Product Code: 978-1-68038-294-5
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation and Scope
- 1.2. Market Definitions
- 1.3. Research Methodology
- 1.3.1. Information Procurement
- 1.3.2. Information or Data Analysis
- 1.3.3. Market Formulation & Data Visualization
- 1.3.4. Data Validation & Publishing
- 1.4. Research Scope and Assumptions
- 1.4.1. List of Data Sources
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segment Outlook
- 2.3. Competitive Insights
Chapter 3. Propionic Acid Market Variables, Trends, & Scope
- 3.1. Market Introduction/Lineage Outlook
- 3.2. Market Size and Growth Prospects (USD Million) (Kilotons)
- 3.3. Market Dynamics
- 3.3.1. Market Drivers Analysis
- 3.3.2. Market Restraints Analysis
- 3.4. Propionic Acid Market Analysis Tools
- 3.4.1. Porter's Analysis
- 3.4.1.1. Bargaining power of the suppliers
- 3.4.1.2. Bargaining power of the buyers
- 3.4.1.3. Threats of substitution
- 3.4.1.4. Threats from new entrants
- 3.4.1.5. Competitive rivalry
- 3.4.2. PESTEL Analysis
- 3.4.2.1. Political landscape
- 3.4.2.2. Economic and Social landscape
- 3.4.2.3. Technological landscape
- 3.4.2.4. Environmental landscape
- 3.4.2.5. Legal landscape
- 3.4.1. Porter's Analysis
Chapter 4. Propionic Acid Market: Application Estimates & Trend Analysis
- 4.1. Segment Dashboard
- 4.2. Propionic Acid Market: Application Movement Analysis, 2023 & 2030 (USD Million) (Kilotons)
- 4.3. Animal Feed
- 4.3.1. Animal Feed Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million) (Kilotons)
- 4.4. Calcium and Sodium Propionate
- 4.4.1. Calcium and Sodium Propionate Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million) (Kilotons)
- 4.5. Cellulose Acetate Propionate
- 4.5.1. Cellulose Acetate Propionate Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million) (Kilotons)
- 4.6. Others
- 4.6.1. Others Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million) (Kilotons)
Chapter 5. Propionic Acid Market: Regional Estimates & Trend Analysis
- 5.1. Propionic Acid Market Share, By Region, 2023 & 2030 (USD Million) (Kilotons)
- 5.2. North America
- 5.2.1. North America Propionic Acid Market Estimates and Forecasts, 2018 - 2030 (USD Million) (Kilotons)
- 5.2.2. U.S.
- 5.2.2.1. U. S. Propionic Acid Market Estimates and Forecasts, 2018 - 2030 (USD Million) (Kilotons)
- 5.2.3. Canada
- 5.2.3.1. Canada Propionic Acid Market Estimates and Forecasts, 2018 - 2030 (USD Million) (Kilotons)
- 5.2.4. Mexico
- 5.2.4.1. Mexico Propionic Acid Market Estimates and Forecasts, 2018 - 2030 (USD Million) (Kilotons)
- 5.3. Europe
- 5.3.1. Europe Propionic Acid Market Estimates and Forecasts, 2018 - 2030 (USD Million) (Kilotons)
- 5.3.2. UK
- 5.3.2.1. UK Propionic Acid Market Estimates and Forecasts, 2018 - 2030 (USD Million) (Kilotons)
- 5.3.3. Germany
- 5.3.3.1. Germany Propionic Acid Market Estimates and Forecasts, 2018 - 2030 (USD Million) (Kilotons)
- 5.3.4. France
- 5.3.4.1. France Propionic Acid Market Estimates and Forecasts, 2018 - 2030 (USD Million) (Kilotons)
- 5.3.5. Italy
- 5.3.5.1. Italy Propionic Acid Market Estimates and Forecasts, 2018 - 2030 (USD Million) (Kilotons)
- 5.4. Asia Pacific
- 5.4.1. Asia Pacific Propionic Acid Market Estimates and Forecasts, 2018 - 2030 (USD Million) (Kilotons)
- 5.4.2. China
- 5.4.2.1. China Propionic Acid Market Estimates and Forecasts, 2018 - 2030 (USD Million) (Kilotons)
- 5.4.3. Japan
- 5.4.3.1. Japan Propionic Acid Market Estimates and Forecasts, 2018 - 2030 (USD Million) (Kilotons)
- 5.4.4. India
- 5.4.4.1. India Propionic Acid Market Estimates and Forecasts, 2018 - 2030 (USD Million) (Kilotons)
- 5.5. Latin America
- 5.5.1. Latin America Propionic Acid Market Estimates and Forecasts, 2018 - 2030 (USD Million) (Kilotons)
- 5.5.2. Brazil
- 5.5.2.1. Brazil Propionic Acid Market Estimates and Forecasts, 2018 - 2030 (USD Million) (Kilotons)
- 5.5.3. Argentina
- 5.5.3.1. Argentina Propionic Acid Market Estimates and Forecasts, 2018 - 2030 (USD Million) (Kilotons)
- 5.6. Middle East and Africa
- 5.6.1. Middle East and Africa Propionic Acid Market Estimates and Forecasts, 2018 - 2030 (USD Million) (Kilotons)
- 5.6.2. South Africa
- 5.6.2.1. South Africa Propionic Acid Market Estimates and Forecasts, 2018 - 2030 (USD Million) (Kilotons)
- 5.6.3. Saudi Arabia
- 5.6.3.1. Saudi Arabia Propionic Acid Market Estimates and Forecasts, 2018 - 2030 (USD Million) (Kilotons)
Chapter 6. Competitive Landscape
- 6.1. Recent Developments & Impact Analysis by Key Market Participants
- 6.2. Company Categorization
- 6.3. Company Heat Map Analysis
- 6.4. Company Profiles
- 6.4.1. BASF SE
- 6.4.1.1. Participant's Overview
- 6.4.1.2. Financial Performance
- 6.4.1.3. Product Benchmarking
- 6.4.1.4. Recent Developments/ Strategic Initiatives
- 6.4.2. Dow
- 6.4.2.1. Participant's Overview
- 6.4.2.2. Financial Performance
- 6.4.2.3. Product Benchmarking
- 6.4.2.4. Recent Developments/ Strategic Initiatives
- 6.4.3. Eastman Chemical Company
- 6.4.3.1. Participant's Overview
- 6.4.3.2. Financial Performance
- 6.4.3.3. Product Benchmarking
- 6.4.3.4. Recent Developments/ Strategic Initiatives
- 6.4.4. Perstorp
- 6.4.4.1. Participant's Overview
- 6.4.4.2. Financial Performance
- 6.4.4.3. Product Benchmarking
- 6.4.4.4. Recent Developments/ Strategic Initiatives
- 6.4.5. Otto Chemie Pvt. Ltd.
- 6.4.5.1. Participant's Overview
- 6.4.5.2. Financial Performance
- 6.4.5.3. Product Benchmarking
- 6.4.5.4. Recent Developments/ Strategic Initiatives
- 6.4.6. Merck KGaA
- 6.4.6.1. Participant's Overview
- 6.4.6.2. Financial Performance
- 6.4.6.3. Product Benchmarking
- 6.4.6.4. Recent Developments/ Strategic Initiatives
- 6.4.7. Celanese Corporation
- 6.4.7.1. Participant's Overview
- 6.4.7.2. Financial Performance
- 6.4.7.3. Product Benchmarking
- 6.4.7.4. Recent Developments/ Strategic Initiatives
- 6.4.8. OQ Chemicals GmbH
- 6.4.8.1. Participant's Overview
- 6.4.8.2. Financial Performance
- 6.4.8.3. Product Benchmarking
- 6.4.8.4. Recent Developments/ Strategic Initiatives
- 6.4.9. Daicel Corporation
- 6.4.9.1. Participant's Overview
- 6.4.9.2. Financial Performance
- 6.4.9.3. Product Benchmarking
- 6.4.9.4. Recent Developments/ Strategic Initiatives
- 6.4.10. SONTARA ORGANO
- 6.4.10.1. Participant's Overview
- 6.4.10.2. Financial Performance
- 6.4.10.3. Product Benchmarking
- 6.4.10.4. Recent Developments/ Strategic Initiatives
- 6.4.11. KANTO KAGAKU.
- 6.4.11.1. Participant's Overview
- 6.4.11.2. Financial Performance
- 6.4.11.3. Product Benchmarking
- 6.4.11.4. Recent Developments/ Strategic Initiatives
- 6.4.12. Junsei Chemical Co., Ltd.
- 6.4.12.1. Participant's Overview
- 6.4.12.2. Financial Performance
- 6.4.12.3. Product Benchmarking
- 6.4.12.4. Recent Developments/ Strategic Initiatives
- 6.4.1. BASF SE
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