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Propionic Acid Market Growth Opportunities, Top Key Players, Demand, Industry Share Analysis by Region Forecast to 2023 | MRFR
Propionic Acid Market
Propionic Acid Market include increase in consumption of herbicides in agriculture, which is likely to drive the market demand. The production of cellulose acetate propionate (CAP) is the underlying driver of the global market. It is highly used in applications requiring low odor, clarity, fast solvent release, anti-blocking and good adhesion to a variety of substrates. They are highly adaptable in printing inks and clear overprint varnishes because of its wide solubility in ink solvents, compatibility with other resins used in printing inks, and high melting point.
Propionic Acid Market is majorly driven by its application in animal feed and in food preservatives. Around 50% of the global propionic acid is consumed in animal feedstock and food preservatives. About 30% is used for production of its calcium, ammonium, and sodium salts, which are also used in food industry. The other major drivers of the global propionic acid market include increase in consumption of herbicides in agriculture, which is likely to drive the market demand.
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Propionic Acid Market Key Players:
Propionic Acid Market are: BASF SE (Germany), DowDuPont (U.S.), Perstorp Orgnr (Sweden), Eastman Chemical Company (U.S.), and Macco Organiques Inc. (Canada). BIOMIN Holding GmbH (Austria), Krishna Chemicals (India), A.M. Food Chemical Co., Ltd. (China), Merck KGaA (Germany), and OXEA GmbH (Germany) among others.
Propionic Acid Market Regional Analysis:
Propionic Acid Market is segmented across the five regions of Europe, North America, Asia Pacific, Latin America, and the Middle East & Africa. Among these, Europe is the largest region in the global propionic acid market in terms of revenue due to the favorable government regulations, and high growth rate for food preservatives & animal feed markets. The EU hygiene directive for maintaining the quality and hygiene of feed-mix products has propelled the market growth in the region. North America is another substantial region in the global propionic acid market owing to the growing food & beverage industry in this region.
Propionic Acid Market Segmental Analysis:
Propionic Acid Market is segmented into application and end-use industry. Based on application, the market is segregated into animal feed & food preservative, propionates, herbicides, plasticizers, rubber products, and others. The market by end-user is further bifurcated into agriculture, food & beverage, personal care, pharmaceuticals, and others.
Propionic Acid Market Table of Content:
1 Executive Summary
2 Scope of the Report
3 Market Research Methodology
4 Market Landscape
5 Industry Overview of Global Propionic Acid Market
Propionic Acid Market Table of Content to be Continue….,
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