Propionic Acid & Derivatives Market Research Report 2030 -Market Size and Forecast

Market Overview
The Global Propionic Acid & Derivatives Market is expected to grow at a high CAGR during the forecasting period (2022-2029).

Propionic acid and derivatives are three-carbon carboxylic acids with the chemical formula CH3CH2COOH that have a pungent odor and a clear, colorless liquid. Bacteria ferment carbohydrates such as glucose to create propionic acid. Aryl propionic acid and its derivatives have various biological activities, including antibacterial, anticonvulsant, anticancer, analgesic and anti-inflammatory effects. It also contains the most potent analgesic and antipyretic chemicals, such as ibuprofen, Oxaprozin and Phenoprofen, among others. The use of propionic acid derivatives in the therapy of cancer symptoms is essential.

In a fermentation reaction, propionic bacteria in sweat glands and the intestines generate propionic acid and carbon dioxide. Propionic acid and its derivatives are widely used as feed and food preservatives. Paints and coatings, food & drinks, medicines, personal care & cosmetics and other end-user sectors rely heavily on propionic acid and derivatives.

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Market Dynamic
The rising demand for pharmaceutical medications to treat disorders like nausea, vomiting, gastrointestinal bleeding, constipation, or diarrhea drives the global propionic acid and derivatives market. The market has been fueled by rising demand for propionic acid and derivatives in the food & beverage manufacturing industries and increasing population needs. Propionic acid and derivatives are in high order because they are employed as preservatives in the food and beverage industries.

The growing demand for paint and coatings
The market is supported by increased demand for paints and coatings due to increased urban populations and the global building and construction sector. Propionic acid and derivatives bind the ingredients in the paints and coatings business.

Propionic acid and derivatives are in high demand due to worldwide growth in the paint and coating industries. According to the American Coating Association, the global paints and coatings market reached roughly US$ 158 billion in 2019, with China accounting for around 28% of the worldwide market, or US$44.5 billion.

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Market Segmentation
By Product
• Propionic acid
• Derivatives
By Form
• Liquid
• Dry
By Type
• Encapsulated
• Synthetic
• Natural
By Application
• Animal Feed & Grain Preservatives
• Food Preservatives
• Herbicides

Competitive Landscape
The propionic acid and derivatives market is moderately competitive with domestic and international players. Product launches, mergers & acquisitions and partnerships are among the leading players' growth strategies, contributing to the global growth of the propionic acid and derivatives market. For example, on June 1, 2017, BASF and SINOPEC launched a joint venture to increase propionic acid production capacity at its Verbund plant by 30,000 metric tonnes per year. At its Verbund plant in Nanjing, China, annual propionic acid production capacity reached roughly 69,000 metric tonnes.

Key players in the global market for propionic acid market & derivatives include A.M. Food Chemicals Co. Ltd, ADDCON GROUP GMBH, BASF SE, Biomin Holding Gmbh, Daicel Corporation, Eastman Chemical Company, Alpha Animal Feed & Grain Preservatives, Inc, KEMIN Industries Inc, Niacet Corporation and Perstorp Holding AB.

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