According to a new market
report published by Transparency Market Research "Propionic Acid Market
for Animal Feed & Grain Preservatives, Calcium & Sodium Propionates,
Cellulose Acetate Propionate and Other Applications - Global Industry Analysis,
Size, Share, Growth, Trends and Forecast, 2013 - 2019", the global
propionic acid market was valued at USD 908.0 million in 2012 and is expected
to reach USD 1,540.5 million by 2019, growing at a CAGR of 7.7% over the
forecast period from 2013 to 2019. In terms of volume, the market was valued at
381.7 kilo tons in 2012 and is expected to grow at a CAGR of 2.3% over the
forecast period from 2013 to 2019.
Browse
Propionic Acid Market Report with Full TOC at http://www.transparencymarketresearch.com/propionic-acid-market.html
Growing global food and
beverage industry is expected to fuel the preservatives market which in turn is
expected to drive the global propionic acid market. Rising demand from end-use
industries in emerging economies such as Asia Pacific provides huge potential
for growth in the propionic acid market. Moreover, the growing pharmaceutical
industry has been contributing to the growth of the market. Additionally,
increasing demand for Vitamin E is expected to create opportunities for the
propionic acid market in the near future. However, market growth may be
hampered during the forecast period due to adverse effects of propionic acid on
human health and environment.
Animal feed and grain
preservatives led the market with 52.5% of global demand in 2012. It is
expected to experience slight increase in its market share in the next few
years due to increase in livestock farming that resulted in growing demand for
animal feed and grain preservatives. Calcium and sodium propionates accounted
for second largest application segment of the global propionic acid demand in
2012. Cellulose Acetate Propionate (CAP) is anticipated to grow steadily at a
CAGR of 1.9% from 2013 to 2019. On the other hand, the herbicides market is
expected to experience sluggish growth in the coming years due to health
hazards caused by herbicides.
The global propionic acid
market was led by Europe with 39.9% market share in 2012. Europe is expected to
show steady growth in the near future as compared to other emerging economies.
North America followed Europe and is expected to experience slight decline in
its market share by 2019. Asia Pacific is expected to be fastest growing
segment during the forecast period. Rest of the World (RoW) that includes Latin
America, Middle East and Africa is expected to experience steady growth in 2019
owing to increasing propionic acid imports in the region.
Key market players
include BASF SE, the Dow Chemical Company, Perstorp Holding GmbH and Eastman
Chemical Company. The market for propionic acid is highly concentrated, with
the top three players accounted for more than 80% of the global market in 2013.
Browse
Propionic Acid Market Report with Full TOC at http://www.transparencymarketresearch.com/propionic-acid-market.html
The report segments the global propionic acid market
as,
Propionic Acid Market - Application Segment Analysis,
- Animal feed and grain preservatives
- Calcium and sodium propionates
- Cellulose Acetate Propionate
- Others (Herbicides etc.)
Propionic Acid Market - Regional Segment Analysis,
- North America
- Europe
- Asia Pacific
- Rest of the World (RoW)
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