Press release
Global Propionic Acid Market to Skyrocket: 3.4% CAGR Expected to Reach USD 1,494.59 million by 2032
The global propionic acid market size was evaluated at USD 1,110.07 million in 2023. The market is estimated to grow from USD 1,146.48 million in 2024 to USD 1,494.59 million by 2032, exhibiting a CAGR of 3.4% between 2024-2032.
๐๐๐ฉ๐จ๐ซ๐ญ ๐๐๐จ๐ฉ๐
The report basically focuses on the latest trends, key players involved, market share, revenue generated, and regional analysis in order to showcase an extensive review of the market.
๐๐๐ญ ๐๐ฑ๐๐ฅ๐ฎ๐ฌ๐ข๐ฏ๐ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ ๐๐ฌ ๐จ๐ ๐๐ก๐ข๐ฌ ๐๐๐ฉ๐จ๐ซ๐ญ:
https://www.polarismarketresearch.com/industry-analysis/propionic-acid-market/request-for-sample
๐๐๐ซ๐ค๐๐ญ ๐๐๐๐ข๐ง๐ข๐ญ๐ข๐จ๐ง
Propionic acid is a naturally found carboxylic acid having a chemical formula C3H6O. One of the main functions of propionic acid is it is used to increase the shelf life of a product or as a preservative. The need for propionic acid is on the rise because of the increased consumption of processed and packaged food, personal care products and cosmetics profoundly in emerging economies, where it gets used as a stabilizing agent or solvent in fragrances and other formulations.
๐๐จ๐ฉ ๐๐จ๐ฆ๐ฉ๐๐ง๐ข๐๐ฌ
The major companies that play key roles in the propionic acid market include a mix of both newly emerging and fully established players, all competing side by side for market share. The key companies in this industry benefit from their technical competence in order to improve the efficiency of their production and innovate new products.
๐๐จ๐ฆ๐ ๐จ๐ ๐ญ๐ก๐ ๐ค๐๐ฒ ๐ฉ๐ฅ๐๐ฒ๐๐ซ๐ฌ ๐ข๐ง๐ฏ๐จ๐ฅ๐ฏ๐๐ ๐ข๐ง ๐ญ๐ก๐ข๐ฌ ๐ข๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ ๐๐ซ๐:
โข BASF SE
โข Celanese Corporation
โข Daicel Corporation
โข Dow
โข Eastman Chemical Company
โข Junsei Chemical Co., Ltd.
โข KANTO KAGAKU.
โข Merck KGaA
โข OQ Chemicals GmbH
โข Otto Chemie Pvt. Ltd.
โข Perstorp
โข SONTARA ORGANO
๐๐ง๐ช๐ฎ๐ข๐ซ๐ ๐ฆ๐จ๐ซ๐ ๐๐๐จ๐ฎ๐ญ ๐ญ๐ก๐ข๐ฌ ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐๐๐จ๐ซ๐ ๐๐ฎ๐ซ๐๐ก๐๐ฌ๐:
https://www.polarismarketresearch.com/industry-analysis/propionic-acid-market/inquire-before-buying
๐๐ซ๐จ๐ฉ๐ข๐จ๐ง๐ข๐ ๐๐๐ข๐ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐ข๐ ๐ก๐ฅ๐ข๐ ๐ก๐ญ๐ฌ
โข 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.
โข 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.
โข 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.
โข Asia Pacific is expected to record the highest CAGR during the forecast period due to increasing livestock production and the expanding agriculture sector.
โข 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.
๐๐ซ๐ข๐ฏ๐๐ซ๐ฌ ๐๐ง๐ ๐๐ฉ๐ฉ๐จ๐ซ๐ญ๐ฎ๐ง๐ข๐ญ๐ข๐๐ฌ
โข The market for propionic acid is seeing an upward movement due to increased production of various pharmaceutical products. This is because it serves as a key intermediate in various medicinal syntheses, and it can also be used as a stabilizer or preservative in the preparation of various pharmaceutical products.
โข The continuous growth of the rubber and latex market has resulted in an enormous boost of the market as it is incorporated as a coagulant in the synthesis of natural and artificial rubber.
โข The propionic acid market is seeing a high surge in growth due to the increasing requirement of rubber for tires in the automotive industry.
๐๐๐ ๐ข๐จ๐ง๐๐ฅ ๐๐ง๐๐ฅ๐ฒ๐ฌ๐ข๐ฌ
In 2023, due to the high demand for propionic acid in different sectors, including food preservation, agriculture, and animal feed, North America emerged as the largest shareholder of the propionic acid market. Also, the increased spending and consumption of processed and convenience food by people across the region has driven the food and beverages industry dramatically, which ultimately resulted in increased demand for the production of propionic acid.
๐๐ฑ๐ฉ๐ฅ๐จ๐ซ๐ ๐๐ก๐ ๐๐จ๐ฆ๐ฉ๐ฅ๐๐ญ๐ ๐๐จ๐ฆ๐ฉ๐ซ๐๐ก๐๐ง๐ฌ๐ข๐ฏ๐ ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐๐ซ๐:
https://www.polarismarketresearch.com/industry-analysis/propionic-acid-market
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
๐๐๐ ๐ข๐จ๐ง๐๐ฅ ๐๐๐ง๐๐ฌ๐๐๐ฉ๐:
โข North America (U.S., Canada)
โข Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
โข Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
โข Latin America (Brazil, Mexico, Argentina)
โข Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
๐๐จ๐ซ๐ ๐๐ซ๐๐ง๐๐ข๐ง๐ ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ ๐๐ฒ ๐๐จ๐ฅ๐๐ซ๐ข๐ฌ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฌ๐๐๐ซ๐๐ก:
Silica Flour Market: https://www.polarismarketresearch.com/industry-analysis/silica-flour-market
Hard Coating Market: https://www.polarismarketresearch.com/industry-analysis/hard-coatings-market
North America Heat Transfer Fluids Market: https://www.polarismarketresearch.com/industry-analysis/north-america-heat-transfer-fluids-market
Natural Personal Care Ingredients Market:
https://www.polarismarketresearch.com/industry-analysis/natural-personal-care-ingredients-market
Double Sided Tapes Market: https://www.polarismarketresearch.com/industry-analysis/double-sided-tapes-market
๐๐จ๐ง๐ญ๐๐๐ญ:
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๐๐๐จ๐ฎ๐ญ ๐๐จ๐ฅ๐๐ซ๐ข๐ฌ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฌ๐๐๐ซ๐๐ก & ๐๐จ๐ง๐ฌ๐ฎ๐ฅ๐ญ๐ข๐ง๐ , ๐๐ง๐:
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR's clientele spread across different enterprises. We at Polaris are obliged to serve PMR's diverse customer base present across the industries of healthcare, technology, semiconductors, and chemicals among various other industries present around the world. We strive to provide PMR's customers with updated information on innovative technologies, high-growth markets, emerging business environments, and the latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced, and extremely qualified team of experts comprising SMEs, analysts, and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR's customers.
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