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Propionic Acid Market Global Analysis and Latest Study Report 2016 – 2026

The chemical industry is focused to keep the business operations running along with ensuring the labor safety amid the COVID-19 pandemic. To recover the losses created by the decline in demand for various products, the companies are capitalizing on the escalating demand for products such as disinfectants and personal protective equipment. Many leading players in the chemical industry have expanded their business to enter into the production of safety products. Companies are resorting to advanced technologies in production to reduce the dependence on work-force.

They are increasingly adopting advanced digital capabilities to integrate supply chain and logistics to ensure the effective delivery of products. The industry heads are seeking the real-time situation of their supply chains to identify potential weaknesses, especially in terms of geography, and strengthen it. The financial disclosures are being extended beyond the usual financial statements to deal with the risks that have aroused amid the COVID-19 pandemic.

Propionic acid is a colorless liquid with pungent smell. It is miscible with water and few organic solvents and is also known by synonyms like carboxylic acid, carboxyethane, ethanecarboxylic acid, ethylformic acid, etc. Propionic acid is a naturally occurring substance which is available in the form of esters in essential oils. Key raw materials used for the production of propionic acid are carbon monoxide and ethylene.

Propionic acid is used as a versatile preservative for human food and animal feed. It also serves as a synthetic intermediate to produce pharmaceuticals, crop protection agents and solvents. Moreover, propionic acid is used to manufacture esters, vitamin E and also as a flavoring agent in food products. In the manufacture of cellulose acetate propionate (CAP), a thermoplastic, propionic acid is utilized as an intermediate. Growth trends of food, feed, and pharmaceutical industries are expected to remain key factors affecting the market growth of propionic acid and the global market is expected to increase at a moderate CAGR over the forecast period 2016-2016.

Market Dynamics

The increasing application of propionic acid as a food & an animal feed preservative is expected to be a key factor driving the growth of the propionic acid market globally. Consumption of propionic acid in herbicides and in the manufacture of cellulose acetate propionate is also expected to be significant through 2026.

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Ever increasing global food demand, coupled with the rising need for hygienic food products, drives the demand for food preservation which, in turn, is expected to boost the global propionic acid market for its use as mold inhibitors in food products. Due to changing lifestyle, consumption of packaged food, which requires the use of preservatives, has significantly increased over the past few years and is expected to fuel the demand for propionic acid across the globe.

The macroeconomic growth of the agricultural industry is further expected to push the demand for propionic acid globally. Propionic acid is used to control the growth of molds on crops and also protects various agriculture products from bacteria. A significant amount of propionic acid is consumed globally to manufacture cellulose acetate propionate (CAP). Moderately growing downstream consumption of CAP is expected to facilitate the growth of the global propionic acid market, though at a modest CAGR, over the forecast period.

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Human exposure of propionic acid, either through skin, eye, ingestion, and inhalation, may be dangerous and special care is required while treating and transporting the same.

Market Segmentation

Some of the many ways by which global propionic acid market can be segmented are on the basis of application, end user industries, and region. On the basis of application, the market segments as the following:

  • Animal feed & food preservatives
  • Calcium and sodium Salts
  • Cellulose acetate propionate
  • Herbicides
  • Others (Flavors, fragrances, etc.)

On the basis of the end user industries, global propionic acid market segments as the following:

  • Agriculture
  • Food and Beverage
  • Personal Care
  • Chemical
  • Pharmaceutical

Regional Outlook

Due to growing population and food & feed production, market outlook for Asia-Pacific is expected to remain fairly positive over the coming years. In North America and Western Europe, the propionic acid market is expected to increase at moderate CAGR. USA and Western Europe are estimated to stand among key suppliers of propionic acid. USA was a net exporter of propionic acid and its salts & esters in 2015. China and India accounted for significant shares in the overall Asia Pacific market demand and major demand was met was imports in 2015.

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Key Players

Some of the key players identified across the value chain of global propionic acid market include

  • BASF SE
  • The Dow Chemical Company
  • Eastman Chemical Company
  • The Perstorp Group
  • Hawkins
  • Macco Organiques Inc.

The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, types and applications.

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Propionic Acid Market Outlook 2020 Pricing Strategy, Industry Latest News, Top Company Analysis, Research Report Analysis and Share by Forecast 2026

Credible Markets

The Report Titled, Propionic Acid Market Research: Global Status & Forecast by Geography, Type & Application (2016-2026) has been recently published by Credible Markets. The Propionic Acid Market has been garnering remarkable momentum in recent years. Demand continues to rise due to increasing purchasing power is projected to bode well for the global market. The insightful research report on the Propionic Acid Market includes Porter’s Five Forces Analysis and SWOT Analysis to understand the factors impacting consumer and supplier behaviour. The report reviews the competitive landscape scenario seen among top Propionic Acid Market players, their company profile, revenue, sales, business tactics, and forecasts Propionic Acid Market industry situations. According to the research, the Propionic Acid Market is highly competing and disparate due to global and local vendors. Furthermore, the report provides powerful suggestions and recommendations to help players create strong growth strategies and ensure impressive sales in the Propionic Acid Market.

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Competitive Analysis; Who are the Major Players in Propionic Acid Market?

⦿ BASF
⦿ Dow
⦿ Perstorp
⦿ Eastman
⦿ Daicel
⦿ Sasol
⦿ BASF-YPC industries
⦿ SINOPEC Qilu
⦿ Yancheng Huade
⦿ Yancheng Hongtai
⦿ Shanghai Jianbei
⦿ …

Major Type of Propionic Acid Covered in Market Research report:

⦿ Oxo Process
⦿ Reppe Process
⦿ By-product Process

Application Segments Covered in Market Research Report:

⦿ Grain and Feed Preservatives
⦿ Calcium and Sodium Salts
⦿ Herbicides
⦿ Cellulose Acetate Propionate
⦿ Others

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Impact of Covid-19 in Propionic Acid Market: The utility-owned segment is mainly being driven by increasing financial incentives and regulatory supports from the governments globally. The current utility-owned Propionic Acid Market are affected primarily by the COVID-19 pandemic. Most of the projects in China, the US, Germany, and South Korea are delayed, and the companies are facing short-term operational issues due to supply chain constraints and lack of site access due to the COVID-19 outbreak. Asia-Pacific is anticipated to get highly affected by the spread of the COVID-19 due to the effect of the pandemic in China, Japan, and India.

Propionic Acid Market Regional Analysis Includes:

  • Asia-Pacific (Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia, and Australia)
  • Europe (Turkey, Germany, Russia UK, Italy, France, etc.)
  • North America (the United States, Mexico, and Canada.)
  • South America (Brazil etc.)
  • The Middle East and Africa (GCC Countries and Egypt.)

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Global Propionic Acid Market Report 2020 by Key Players, Types, Applications, Countries, Market Size, Forecast to 2026

Chapter 1. Report Overview

Chapter 2. Market Snapshot

2.1 Major Companies Overview

2.2 Propionic Acid Market Concentration

2.3 Six-Year Compound Annual Growth Rate (CAGR)

Chapter 3.Value Chain of Propionic Acid Market

3.1 Upstream

3.2 Downstream

3.3 Porter’s & Five Forces Analysis and SWOT Analysis

Chapter 4. Players Profiles

4.1 Company Profiles

4.2 Product Introduction

4.3 Production, Revenue (2015-2020)

4.4 SWOT Analysis

Chapter 5. Global Propionic Acid Market Analysis by Regions

5.1 Propionic Acid Market Status and Prospect (2016-2026)

5.2 Propionic Acid Market Size and Growth Rate (2016-2026)

5.3 Propionic Acid Market Local Capacity, Import, Export, Local Consumption Analysis (2015-2026)

Chapter 6. North America Propionic Acid Market Analysis by Countries

Chapter 7. China Propionic Acid Market Analysis by Countries

Chapter 8. Europe Propionic Acid Market Analysis by Countries

Chapter 9. Asia-Pacific Propionic Acid Market Analysis by Countries

Chapter 10. India Propionic Acid Market Analysis by Countries

Chapter 11. Middle East and Africa Propionic Acid Market Analysis by Countries

Chapter 12. South America Propionic Acid Market Analysis by Countries

Chapter 13. Global Propionic Acid Market Segment by Types

Chapter 14. Global Propionic Acid Market Segment by Applications

Chapter 15. Propionic Acid Market Forecast by Regions (2020-2026)

Chapter 16. Appendix

Key Highlights of the Table of Contents:

  • Propionic Acid Market Study Coverage: It includes key market segments, key manufacturers covered, the scope of products offered in the years considered, global Propionic Acid Market and study objectives. Additionally, it touches the segmentation study provided in the report on the basis of the type of product and applications.
  • Propionic Acid Market Executive summary: This section emphasizes the key studies, market growth rate, competitive landscape, market drivers, trends, and issues in addition to the macroscopic indicators.
  • Propionic Acid Market Production by Region: The report delivers data related to import and export, revenue, production, and key players of all regional markets studied are covered in this section.
  • Propionic Acid Market Profile of Manufacturers: Analysis of each market player profiled is detailed in this section. This segment also provides SWOT analysis, products, production, value, capacity, and other vital factors of the individual player.

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