Propionic Acid Market Size, Share, Trends, Industry Analysis Report: By Application and Region

Description

List of Tables

The global propionic acid market size is expected to reach USD 1,494.59 million by 2032, according to a new study by Polaris Market Research. The report "Propionic Acid Market Share, Size, Trends, Industry Analysis Report - By Application (Animal Feed, Calcium and Sodium Propionate, Cellulose Acetate Propionate, Chemicals, and Others) and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa); Segment Forecast, 2024-2032" gives a detailed insight into current market dynamics and provides analysis on future market growth.

The propionic acid market growth is attributed to its wide application across various industries. Propionic acid, a short-chain fatty acid, is primarily used as a preservative in food and animal feed, where it helps inhibit the growth of mold and bacteria. Additionally, it plays a key role in producing cellulose acetate propionate, which is utilized in plastics, synthesizing herbicides, and pharmaceuticals. The rising demand for animal feed preservatives, driven by increased meat consumption and livestock production, is driving the propionic acid market. The increasing global population is shifting dietary habits toward higher protein intake; thus, the demand for safe and longer-lasting animal feed has surged. Furthermore, regulatory measures promoting food safety are boosting the use of propionic acid in feed and food products.

The propionic acid market is benefiting from the expanding agriculture sector as propionic acid is used in the production of herbicides. Additionally, industrial applications of propionic acid such as in pharmaceuticals and personal care products are boosting market growth. Advancements in production technologies and a trend toward eco-friendly solutions are expected to create new opportunities for market players during the forecast period. Moreover, increasing health awareness regarding food safety and shelf life is expected to contribute to the sustained growth of the propionic acid market in the coming years.

Propionic Acid Market Report Highlights

In 2023, the animal feed segment accounted for the largest revenue share in the propionic acid market due to the increasing demand for preservatives that enhance feed shelf life and prevent mold growth.

The calcium and sodium propionate segment is expected to register the highest CAGR during the forecast period due to their widespread use as effective preservatives in food and feed products.

In 2023, North America accounted for the largest share of the propionic acid market due to the high demand for animal feed preservatives and increasing meat consumption.

Asia Pacific is expected to record the highest CAGR during the forecast period due to increasing livestock production and the expanding agriculture sector.

A few global key market players include BASF SE; Celanese Corporation; Daicel Corporation; Dow; Eastman Chemical Company; Junsei Chemical Co., Ltd.; KANTO KAGAKU.; Merck KGaA; OQ Chemicals GmbH; Otto Chemie Pvt. Ltd.; Perstorp; and SONTARA ORGANO.

Polaris Market Research has segmented the propionic acid market report on the basis of application and region:

By Application Outlook (Revenue - USD million, kilotons, 2019-2032)

Animal Feed
Calcium and Sodium Propionate
Cellulose Acetate Propionate
Chemicals
Others

By Regional Outlook (Revenue - USD million, kilotons, 2019-2032)

North America
US
Canada
Europe
Germany
UK
France
Italy
Spain
Russia
Netherlands
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Indonesia
Malaysia
Australia
Rest of Asia Pacific
Latin America
Argentina
Brazil
Mexico
Rest of Latin America
Middle East & Africa
UAE
Saudi Arabia
Israel
South Africa
Rest of Middle East & Africa

Product Code: PM5124

1. Introduction

1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
1.2. Stakeholders

2. Executive Summary

2.1. Market Highlights

3. Research Methodology

3.1. Overview
- 3.1.1. Data Mining
3.2. Data Sources
- 3.2.1. Primary Sources
- 3.2.2. Secondary Sources

4. Global Propionic Acid Market Insights

4.1. Propionic Acid Market - Market Snapshot
4.2. Propionic Acid Market Dynamics
- 4.2.1. Drivers and Opportunities
  - 4.2.1.1. Rising Use of Propionic Acid in the Pharmaceutical Industry
  - 4.2.1.2. Increasing Demand in Rubber and Latex Industries
- 4.2.2. Restraints and Challenges
  - 4.2.2.1. Technological and Operational Risks
4.3. Porter's Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry among existing firms (High)
4.4. PESTEL Analysis
4.5. Propionic Acid Market Trends
4.6. Value Chain Analysis
4.7. COVID-19 Impact Analysis

5. Global Propionic Acid Market, by Application

5.1. Key Findings
5.2. Introduction
- 5.2.1. Global Propionic Acid Market, by Application, 2019-2032 (USD Billion)
5.3. Animal Feed
- 5.3.1. Global Propionic Acid Market, by Animal Feed, by Region, 2019-2032 (USD Billion)
5.4. Calcium and Sodium Propionate
- 5.4.1. Global Propionic Acid Market, by Calcium and Sodium Propionate, by Region, 2019-2032 (USD Billion)
5.5. Cellulose Acetate Propionate
- 5.5.1. Global Propionic Acid Market, by Cellulose Acetate Propionate, by Region, 2019-2032 (USD Billion)
5.6. Chemicals
- 5.6.1. Global Propionic Acid Market, by Chemicals, by Region, 2019-2032 (USD Billion)
5.7. Others
- 5.7.1. Global Propionic Acid Market, by Others, by Region, 2019-2032 (USD Billion)

6. Global Propionic Acid Market, by Geography

6.1. Key Findings
6.2. Introduction
- 6.2.1. Propionic Acid Market Assessment, By Geography, 2019-2032 (USD Billion)
6.3. Propionic Acid Market - North America
- 6.3.1. North America: Propionic Acid Market, by Application, 2019-2032 (USD Billion)
- 6.3.2. Propionic Acid Market - U.S.
  - 6.3.2.1. U.S.: Propionic Acid Market, by Application, 2019-2032 (USD Billion)
- 6.3.3. Propionic Acid Market - Canada
  - 6.3.3.1. Canada: Propionic Acid Market, by Application, 2019-2032 (USD Billion)
6.4. Propionic Acid Market - Europe
- 6.4.1. Europe: Propionic Acid Market, by Application, 2019-2032 (USD Billion)
- 6.4.2. Propionic Acid Market - UK
  - 6.4.2.1. UK: Propionic Acid Market, by Application, 2019-2032 (USD Billion)
- 6.4.3. Propionic Acid Market - France
  - 6.4.3.1. France: Propionic Acid Market, by Application, 2019-2032 (USD Billion)
- 6.4.4. Propionic Acid Market - Germany
  - 6.4.4.1. Germany: Propionic Acid Market, by Application, 2019-2032 (USD Billion)
- 6.4.5. Propionic Acid Market - Italy
  - 6.4.5.1. Italy: Propionic Acid Market, by Application, 2019-2032 (USD Billion)
- 6.4.6. Propionic Acid Market - Spain
  - 6.4.6.1. Spain: Propionic Acid Market, by Application, 2019-2032 (USD Billion)
- 6.4.7. Propionic Acid Market - Netherlands
  - 6.4.7.1. Netherlands: Propionic Acid Market, by Application, 2019-2032 (USD Billion)
- 6.4.8. Propionic Acid Market - Russia
  - 6.4.8.1. Russia: Propionic Acid Market, by Application, 2019-2032 (USD Billion)
- 6.4.9. Propionic Acid Market - Rest of Europe
  - 6.4.9.1. Rest of Europe: Propionic Acid Market, by Application, 2019-2032 (USD Billion)
6.5. Propionic Acid Market - Asia Pacific
- 6.5.1. Asia Pacific: Propionic Acid Market, by Application, 2019-2032 (USD Billion)
- 6.5.2. Propionic Acid Market - China
  - 6.5.2.1. China: Propionic Acid Market, by Application, 2019-2032 (USD Billion)
- 6.5.3. Propionic Acid Market - India
  - 6.5.3.1. India: Propionic Acid Market, by Application, 2019-2032 (USD Billion)
- 6.5.4. Propionic Acid Market - Malaysia
  - 6.5.4.1. Malaysia: Propionic Acid Market, by Application, 2019-2032 (USD Billion)
- 6.5.5. Propionic Acid Market - Japan
  - 6.5.5.1. Japan: Propionic Acid Market, by Application, 2019-2032 (USD Billion)
- 6.5.6. Propionic Acid Market - Indonesia
  - 6.5.6.1. Indonesia: Propionic Acid Market, by Application, 2019-2032 (USD Billion)
- 6.5.7. Propionic Acid Market - South Korea
  - 6.5.7.1. South Korea: Propionic Acid Market, by Application, 2019-2032 (USD Billion)
- 6.5.8. Propionic Acid Market - Australia
  - 6.5.8.1. Australia: Propionic Acid Market, by Application, 2019-2032 (USD Billion)
- 6.5.9. Propionic Acid Market - Rest of Asia Pacific
  - 6.5.9.1. Rest of Asia Pacific: Propionic Acid Market, by Application, 2019-2032 (USD Billion)
6.6. Propionic Acid Market - Middle East & Africa
- 6.6.1. Middle East & Africa: Propionic Acid Market, by Application, 2019-2032 (USD Billion)
- 6.6.2. Propionic Acid Market - Saudi Arabia
  - 6.6.2.1. Saudi Arabia: Propionic Acid Market, by Application, 2019-2032 (USD Billion)
- 6.6.3. Propionic Acid Market - UAE
  - 6.6.3.1. UAE: Propionic Acid Market, by Application, 2019-2032 (USD Billion)
- 6.6.4. Propionic Acid Market - Israel
  - 6.6.4.1. Israel: Propionic Acid Market, by Application, 2019-2032 (USD Billion)
- 6.6.5. Propionic Acid Market - South Africa
  - 6.6.5.1. South Africa: Propionic Acid Market, by Application, 2019-2032 (USD Billion)
- 6.6.6. Propionic Acid Market - Rest of Middle East & Africa
  - 6.6.6.1. Rest of Middle East & Africa: Propionic Acid Market, by Application, 2019-2032 (USD Billion)
6.7. Propionic Acid Market - Latin America
- 6.7.1. Latin America: Propionic Acid Market, by Application, 2019-2032 (USD Billion)
- 6.7.2. Propionic Acid Market - Mexico
  - 6.7.2.1. Mexico: Propionic Acid Market, by Application, 2019-2032 (USD Billion)
- 6.7.3. Propionic Acid Market - Brazil
  - 6.7.3.1. Brazil: Propionic Acid Market, by Application, 2019-2032 (USD Billion)
- 6.7.4. Propionic Acid Market - Argentina
  - 6.7.4.1. Argentina: Propionic Acid Market, by Application, 2019-2032 (USD Billion)
- 6.7.5. Propionic Acid Market - Rest of Latin America
  - 6.7.5.1. Rest of Latin America: Propionic Acid Market, by Application, 2019-2032 (USD Billion)

7. Competitive Landscape

7.1. Expansion and Acquisition Analysis
- 7.1.1. Expansion
- 7.1.2. Acquisitions
7.2. Partnerships/Collaborations/Agreements/Exhibitions

8. Company Profiles

8.1. BASF SE
- 8.1.1. Company Overview
- 8.1.2. Financial Performance
- 8.1.3. Product Benchmarking
- 8.1.4. Recent Development
8.2. Celanese Corporation
- 8.2.1. Company Overview
- 8.2.2. Financial Performance
- 8.2.3. Product Benchmarking
- 8.2.4. Recent Development
8.3. Daicel Corporation
- 8.3.1. Company Overview
- 8.3.2. Financial Performance
- 8.3.3. Product Benchmarking
- 8.3.4. Recent Development
8.4. Dow
- 8.4.1. Company Overview
- 8.4.2. Financial Performance
- 8.4.3. Product Benchmarking
- 8.4.4. Recent Development
8.5. Eastman Chemical Company
- 8.5.1. Company Overview
- 8.5.2. Financial Performance
- 8.5.3. Product Benchmarking
- 8.5.4. Recent Development
8.6. Junsei Chemical Co., Ltd.
- 8.6.1. Company Overview
- 8.6.2. Financial Performance
- 8.6.3. Product Benchmarking
- 8.6.4. Recent Development
8.7. KANTO KAGAKU.
- 8.7.1. Company Overview
- 8.7.2. Financial Performance
- 8.7.3. Product Benchmarking
- 8.7.4. Recent Development
8.8. Merck KGaA
- 8.8.1. Company Overview
- 8.8.2. Financial Performance
- 8.8.3. Product Benchmarking
- 8.8.4. Recent Development
8.9. OQ Chemicals GmbH
- 8.9.1. Company Overview
- 8.9.2. Financial Performance
- 8.9.3. Product Benchmarking
- 8.9.4. Recent Development
8.10. Otto Chemie Pvt. Ltd.
- 8.10.1. Company Overview
- 8.10.2. Financial Performance
- 8.10.3. Product Benchmarking
- 8.10.4. Recent Development
8.11. Perstorp
- 8.11.1. Company Overview
- 8.11.2. Financial Performance
- 8.11.3. Product Benchmarking
- 8.11.4. Recent Development
8.12. SONTARA ORGANO
- 8.12.1. Company Overview
- 8.12.2. Financial Performance
- 8.12.3. Product Benchmarking
- 8.12.4. Recent Development