Transparency
Market Research has announced the addition of a new research report
based on certain specific application areas of the global Propionic
Acid Market to its repository.
The
report, titled “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”, states that the
global propionic acid market could reach a market value worth US$
1,540.5 million by 2019, observing growth at a CAGR of 7.7% from 2013
to 2019. This market generated US$ 908.0 million in 2012.
Volume-wise,
the market observed demands worth 381.7 kilo tons in 2012 and is
expected to grow at a CAGR of 2.3% during the forecast period.
Code
of Federal Regulations of the U.S. Department of Health and Human
Services states that propionic acid is generally considered safe for
direct human and animal consumption through food. It can be used in
food products with no limitations other than good manufacturing
practices. It is commonly used across a variety of industries as
flavoring and an antimicrobial agent.
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Full Report With TOC and in depth analysis :
The
report states that the increased use of propionic-acid derivatives
such as cellulose acetate propionate, propionates of calcium and
sodium, and herbicides for grain preservation and animal feed are the
chief drivers of the global propionic acid industry.
Also,
rising demand for food preservatives due to swift growth of the
global food and beverages industry is another major factor driving
the global propionic acid market. Pharmaceutical industry is also a
major application sector for the propionic acid market; rapid growth
of this industry on a global front is also contributing to growth of
the market.
The
report segments the application areas of the global propionic acid
market in four broad segments - Animal feed and grain preservatives,
cellulose acetate propionate, calcium and sodium propionates, and
other nominal application segments.
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The Sample Report Copy from here :
Animal
feed and grain preservatives accounts for nearly half of the global
propionic acid production. Demand for propionic acid from this
application area acquired nearly 52.5% shares of the total global
demand in 2012. A rapid growth in livestock farming is expected
throughout the globe in the next few years which would increase
demands for animal feed and growth preservatives. Owing to this, the
global share of animal feed and grain preservatives sector could
slightly increase. Sectors of calcium and sodium propionates
currently account for the second largest demands for global propionic
acid.
Application
segment of Cellulose Acetate Propionate is expected to grow steadily
at a CAGR of 1.9% while the segment of herbicides is expected to
observe sluggish growth during the forecast period.
Geography-wise,
Europe currently accounts for the major market shares of the market,
and is expected to show steady growth in the next few years as
compared to emerging economies. In 2012, Europe acquired nearly 39.9%
market shares, closely followed by North America. However, the market
in North America is expected to slightly decline by 2019.
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And Recently Published Market Research Reports :
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Lauryl Sulfate Market :
The
global propionic acid market is highly segmented. Nearly 80% shares
of the market are held by key market player companies such as Eastman
Chemical Company, BASF SE, Perstorp Holding GmbH and the Dow Chemical
Company.
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