Propionic Acid Market Poised for 4 % Growth, Set to Hit $72.96 Billion by 2029

What combination of drivers is leading to accelerated growth in the propionic acid market?
The projected growth in the agricultural sector is poised to fuel the propionic acid market's expansion. The agricultural sector comprises all endeavors focused on plant cultivation and livestock rearing for diverse objectives such as food, fiber, and materials production. Propionic acid serves as an antimicrobial and antifungal agent in this sector, with applications like poultry litter management and livestock drinking water treatment. As an example, the National Statistical Institute of Iceland documented a rise in Iceland's agricultural production value from $0.54 billion in 2021 to $0.61 billion in 2022, marking a 12% increase. Consequently, this uptick in the agricultural sector becomes a significant catalyst for propionic acid market growth. Propionic Acid Market Driver: Surge in demand for Natural Beauty Product Amplifies Propionic Acid Market

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What is the projected compound annual growth rate (CAGR) of the propionic acid market from 2025 to 2034, and what factors influence it?
The market size of propionic acid has been on a consistent growth trajectory over the past few years. It is projected to increase from $1.5 billion in 2024 to $1.57 billion in 2025, reflecting a compound annual growth rate (CAGR) of 4.6%. The significant growth observed in the historic period is chiefly due to the rising demand in the sector of animal feed preservatives, the expansion of the food and beverage industry, emphasis on grain preservation, increased awareness regarding food safety, surge in livestock farming, and its use in the production of cellulose acetate propionate (CAP).

Projected progress in the coming years suggests that the propionic acid market will maintain a steady growth pattern to be worth $1.83 billion by 2029, with a compound annual growth rate (CAGR) of 4.0%. The predicted growth trajectory in the forecast period could result from sustained expansion in livestock farming, a rising emphasis on green farming methods, increased demand for processed foods, initiatives dedicated to global food security, wider usage in the production of derivatives, and adherence to environmental regulations and sustainable practices. Key trends set to dominate the forecast period include the rising use of propionic acid as a herbicide, advances in production technology, wider acceptance in the pharmaceutical and cosmetic sectors, adherence to regulatory guidelines and quality norms, and expanding markets in burgeoning regions.

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How are the latest trends influencing the growth of the propionic acid market?
Leading firms in the propionic acid market are concentrating on innovating new techniques for its production, such as biomimetic fermentation designed to generate bio-sourced organic acids. This fermentation process, used for creating pure organic acids, predominantly propionic acid, originates from bio-sourced organic acids. For example, in October 2022, AFYREN SA, a chemical manufacturing company based in France, inaugurated a facility dedicated to the large-scale manufacturing of bio-sourced acids using Afyren technology, a process founded on the biomimetic fermentation of GMO-free byproducts. This process results in a highly pure and high-quality suite of seven entirely bio sourced acids, including afyren propionic acid.

What are the major segments of the propionic acid market and their role in driving growth?
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 regions are leading the charge 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.

Who are the key firms paving the way for growth in the propionic acid market?
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.

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What Is Covered In The Propionic Acid Global Market Report?

•Market Size Forecast: Examine the propionic acid market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the propionic acid market for a structured understanding.
•Key Players Overview: Analyze major players in the propionic acid market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the propionic acid market.
•Segment Contributions: Evaluate how different segments drive overall growth in the propionic acid market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the propionic acid market.
•Industry Challenges: Identify potential risks and obstacles affecting the propionic acid market.
•Competitive Landscape: Review strategic developments in the propionic acid market, including expansions, agreements, and new product launches.

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