Propionic Acid Market Forecast 2025-2034: Analysing Major Trends, Opportunities, and Growth Drivers

How Will the Propionic Acid Market Grow, and What Is the Projected Market Size?
The propionic acid market has experienced steady growth in recent years. It will increase from $1.5 billion in 2024 to $1.57 billion in 2025, at a CAGR of 4.6%. The growth is attributed to the rising demand for animal feed preservatives, the expanding food and beverage industry, a focus on grain preservation, growing food safety awareness, the rise in livestock farming, and its use in cellulose acetate propionate (CAP) production.

The propionic acid market is anticipated to grow steadily in the next few years, reaching $1.83 billion by 2029 at a CAGR of 4.0%. Growth drivers include continued expansion in livestock farming, a growing focus on sustainable agriculture, an increasing demand for processed foods, global food security efforts, and a greater application in derivative production. Key trends include the emergence of propionic acid as a herbicide, innovations in production processes, growing use in pharmaceuticals and cosmetics, adherence to regulatory standards, and market expansion in developing regions.

What Key Elements Are Boosting Growth in the Propionic Acid Market?
The expansion of the agricultural sector is expected to contribute to the growth of the propionic acid market. The agriculture industry encompasses activities related to plant cultivation and animal husbandry for food, fiber, and material production. Propionic acid is used in agriculture as an antimicrobial and antifungal agent, particularly for managing poultry litter and treating livestock drinking water. For instance, in May 2023, the National Statistical Institute of Iceland, an official statistics agency, reported that Iceland's agricultural industry increased in production value from $0.54 billion in 2021 to $0.61 billion in 2022, reflecting a 12% growth. Consequently, the agricultural industry's expansion is driving the propionic acid market.

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Who Are the Major Industry Players Fueling Propionic Acid Market Expansion?
Major companies operating in the propionic acid market report are BASF SE, Merck KGaA, Dow Chemical Company, Thermo Fisher Scientific Inc., Honeywell International Inc., INEOS Group Holdings S.A., Evonik Industries AG, Solvay S.A., Arkema SA, Eastman Chemical Company, Celanese Corporation, Clariant AG, Sigma-Aldrich Corporation, Daicel Corporation, Novozymes A/S, OQ Chemicals GmbH, Corbion N.V., Hawkins Inc., Nacalai Tesque Inc., Kishida Chemical Co. Ltd., Macco Organiques Inc., Niacet Corporation, Gelest Inc., Vigon International Inc., Kanto Chemical Co. Inc., Impextraco N.V., Otto Chemie Pvt. Ltd., Perstorp Holding AB, Jarchem Industries Inc., TRInternational Inc.

Which Key Developments Are Influencing the Propionic Acid Market?
Major companies in the propionic acid market are developing new methods for producing propionic acid, such as biomimetic fermentation, to manufacture bio-based organic acids. Biomimetic fermentation utilizes advanced fermentation technology to generate pure organic acids, including propionic acid. For example, in October 2022, AFYREN SA, a France-based chemical manufacturer, established a facility dedicated to the industrial production of bio-sourced acids using Afyren technology. This approach employs biomimetic fermentation of GMO-free co-products, producing seven high-quality organic acids, including bio-sourced afyren propionic acid.

How Is the Segmentation of the Propionic Acid Market Defined?
The propionic acid market covered in this report is segmented -

1) By Product: Oxo Process, Reppe Process, By-product Process
2) By Application: Herbicides, Rubber Products, Plasticizers, Food Preservatives, Other Applications
3) By End-User Industry: Pharmaceuticals, Personal Care, Food And Beverage, Agriculture, Other End-User Industries

Subsegments:
1) By Oxo Process: Propionic Acid From Propionaldehyde, Catalytic Hydrogenation Of Acetaldehyde, Use Of Carbon Monoxide And Hydrogen In Production
2) By Reppe Process: Acetylene-Based Process For Propionic Acid, Production Of Propionic Acid Through Acetylene And Carbon Monoxide Reaction, Catalytic Reaction With Phosgene Derivatives
3) By By-Product Process: Production Of Propionic Acid As A By-Product Of Acetone Manufacturing, By-Product Formation During The Production Of Acrylic Acid Or Acetate, Recovery Of Propionic Acid From Fermentation Or Other Processes

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What Is the Leading Region in the Propionic Acid Market?
Europewas the largest region in the propionic acid market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the propionic acid market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

What Is Covered In The Propionic Acid Global Market Report?

- Market Size Analysis: Analyze the Propionic Acid Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Propionic Acid Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Propionic Acid Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Propionic Acid Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.

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