Global Propionic Acid Market Size Study, by Application (Animal Feed, Calcium and Sodium Propionate, Cellulose Acetate Propionate), and Regional Forecasts 2022-2032

January 2025 | 285 pages | ID: GC5EB84AEFF1EN
Bizwit Research & Consulting LLP

Abstracts

The Global Propionic Acid Market, valued at approximately USD 1.11 billion in 2023, is projected to grow steadily at a CAGR of 3.40% to reach USD 1.50 billion by 2032. Propionic acid, a naturally occurring carboxylic acid, is extensively utilized in various industrial applications due to its remarkable preservative and antimicrobial properties. Known for its efficacy in controlling mold and bacterial growth, this compound plays a critical role in maintaining the integrity and quality of animal feed, food preservatives, and industrial products.

Rising demand for sustainable and cost-effective preservatives in the agricultural and food sectors significantly drives the market. The application of propionic acid in animal feed, as calcium and sodium propionate, ensures extended shelf life and enhanced nutritional value, aligning with global efforts to reduce food wastage. Additionally, its integration into cellulose acetate propionate for specialized industrial applications underpins its versatility and expanding market potential. The growing preference for eco-friendly and biodegradable solutions further bolsters its adoption across various end-user industries.

However, the market encounters challenges such as fluctuating raw material prices and the environmental impact of propionic acid manufacturing. Technological advancements in production processes and innovations in green chemistry are expected to alleviate these concerns. The increasing adoption of propionic acid as an integral component in developing advanced formulations showcases its potential to cater to diverse consumer demands while adhering to stringent environmental regulations.

Regionally, North America and Europe dominate the propionic acid market, supported by well-established agricultural and industrial sectors and a growing emphasis on sustainable practices. The Asia-Pacific region is poised to exhibit the fastest growth, driven by rapid industrialization, expanding livestock production, and rising demand for high-quality feed and food preservatives. Emerging economies in Latin America, the Middle East, and Africa are also expected to contribute significantly to the market, leveraging their developing agricultural and industrial infrastructures.

Major market players included in this report are:

• BASF SE
• The Dow Chemical Company
• Eastman Chemical Company
• Perstorp Holding AB
• Daicel Corporation
• Oxea GmbH
• Merck KGaA
• Hawkins, Inc.
• Macco Organiques Inc.
• Tokyo Chemical Industry Co., Ltd.
• A.M. Food Chemicals Co., Ltd.
• Krishna Chemicals
• Celanese Corporation
• Ashok Alco - chem Limited
• LyondellBasell Industries Holdings B.V.

The detailed segments and sub-segments of the market are explained below:

By Application:

• Animal Feed
• Calcium and Sodium Propionate
• Cellulose Acetate Propionate

By Region: North America:

• U.S.
• Canada

Europe:

• UK
• Germany
• France
• Spain
• Italy
• Rest of Europe

Asia Pacific:

• China
• India
• Japan
• Australia
• South Korea
• Rest of Asia Pacific

Latin America:

• Brazil
• Mexico
• Rest of Latin America

Middle East & Africa:

• Saudi Arabia
• South Africa
• Rest of Middle East & Africa

Key Takeaways:

• Market Estimates & Forecast for 10 years from 2022 to 2032.
• Annualized revenues and regional-level analysis for each market segment.
• Detailed analysis of the geographical landscape with country-level analysis of major regions.
• Competitive landscape with information on major players in the market.
• Analysis of key business strategies and recommendations on future market approaches.
• Analysis of the competitive structure of the market.
• Demand-side and supply-side analysis of the market.

Contents

CHAPTER 1. GLOBAL PROPIONIC ACID MARKET EXECUTIVE SUMMARY

1.1. Global Propionic Acid Market Size & Forecast (2022-2032)
1.2. Regional Summary
1.3. Segmental Summary
  1.3.1. By Application
  1.3.2. By Region
1.4. Key Trends
1.5. Recession Impact
1.6. Analyst Recommendation & Conclusion

CHAPTER 2. GLOBAL PROPIONIC ACID MARKET DEFINITION AND RESEARCH ASSUMPTIONS

2.1. Research Objective
2.2. Market Definition
2.3. Research Assumptions
  2.3.1. Inclusion & Exclusion
  2.3.2. Limitations
  2.3.3. Supply Side Analysis
    2.3.3.1. Availability
    2.3.3.2. Infrastructure
    2.3.3.3. Regulatory Environment
    2.3.3.4. Market Competition
    2.3.3.5. Economic Viability (Consumer’s Perspective)
  2.3.4. Demand Side Analysis
    2.3.4.1. Regulatory Frameworks
    2.3.4.2. Technological Advancements
    2.3.4.3. Environmental Considerations
    2.3.4.4. Consumer Awareness & Acceptance
2.4. Estimation Methodology
2.5. Years Considered for the Study
2.6. Currency Conversion Rates

CHAPTER 3. GLOBAL PROPIONIC ACID MARKET DYNAMICS

3.1. Market Drivers
  3.1.1. Rising Demand in Animal Feed Applications
  3.1.2. Technological Advancements in Formulation
  3.1.3. Growth in Agricultural and Food Sectors
3.2. Market Challenges
  3.2.1. Fluctuating Raw Material Prices
  3.2.2. Environmental Impact of Manufacturing Processes
3.3. Market Opportunities
  3.3.1. Development of Eco-Friendly Formulations
  3.3.2. Expansion into Emerging Markets
  3.3.3. Innovation in Advanced Applications

CHAPTER 4. GLOBAL PROPIONIC ACID MARKET INDUSTRY ANALYSIS

4.1. Porter’s 5 Force Model
  4.1.1. Bargaining Power of Suppliers
  4.1.2. Bargaining Power of Buyers
  4.1.3. Threat of New Entrants
  4.1.4. Threat of Substitutes
  4.1.5. Competitive Rivalry
  4.1.6. Futuristic Approach to Porter’s 5 Force Model
  4.1.7. Porter’s 5 Force Impact Analysis
4.2. PESTEL Analysis
  4.2.1. Political
  4.2.2. Economical
  4.2.3. Social
  4.2.4. Technological
  4.2.5. Environmental
  4.2.6. Legal
4.3. Top Investment Opportunities
4.4. Top Winning Strategies
4.5. Disruptive Trends
4.6. Industry Expert Perspective
4.7. Analyst Recommendation & Conclusion

CHAPTER 5. GLOBAL PROPIONIC ACID MARKET SIZE & FORECASTS BY APPLICATION 2022-2032

5.1. Segment Dashboard
5.2. Global Propionic Acid Market: Application Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
  5.2.1. Animal Feed
  5.2.2. Calcium and Sodium Propionate
  5.2.3. Cellulose Acetate Propionate

CHAPTER 6. GLOBAL PROPIONIC ACID MARKET SIZE & FORECASTS BY MATERIAL TYPE 2022-2032

6.1. Segment Dashboard
6.2. Global Propionic Acid Market: Material Type Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
  6.2.1. Metallic
  6.2.2. Non-Metallic
  6.2.3. Polymer
  6.2.4. Glass
  6.2.5. Ceramic

CHAPTER 7. GLOBAL PROPIONIC ACID MARKET SIZE & FORECASTS BY FORMULATION TYPE 2022-2032

7.1. Segment Dashboard
7.2. Global Propionic Acid Market: Formulation Type Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
  7.2.1. Water-Based
  7.2.2. Solvent-Based
  7.2.3. Powder Coating
  7.2.4. Hybrid

CHAPTER 8. GLOBAL PROPIONIC ACID MARKET SIZE & FORECASTS BY END USE INDUSTRY 2022-2032

8.1. Segment Dashboard
8.2. Global Propionic Acid Market: End Use Industry Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
  8.2.1. Transportation
  8.2.2. Oil and Gas
  8.2.3. Manufacturing
  8.2.4. Electronics
  8.2.5. Energy

CHAPTER 9. GLOBAL PROPIONIC ACID MARKET SIZE & FORECASTS BY REGION 2022-2032

9.1. North America Propionic Acid Market
  9.1.1. U.S. Propionic Acid Market
    9.1.1.1. Application Breakdown Size & Forecasts, 2022-2032
    9.1.1.2. Material Type Breakdown Size & Forecasts, 2022-2032
    9.1.1.3. Formulation Type Breakdown Size & Forecasts, 2022-2032
  9.1.2. Canada Propionic Acid Market
9.2. Europe Propionic Acid Market
  9.2.1. UK Propionic Acid Market
  9.2.2. Germany Propionic Acid Market
  9.2.3. France Propionic Acid Market
  9.2.4. Spain Propionic Acid Market
  9.2.5. Italy Propionic Acid Market
  9.2.6. Rest of Europe Propionic Acid Market
9.3. Asia-Pacific Propionic Acid Market
  9.3.1. China Propionic Acid Market
  9.3.2. India Propionic Acid Market
  9.3.3. Japan Propionic Acid Market
  9.3.4. Australia Propionic Acid Market
  9.3.5. South Korea Propionic Acid Market
  9.3.6. Rest of Asia Pacific Propionic Acid Market
9.4. Latin America Propionic Acid Market
  9.4.1. Brazil Propionic Acid Market
  9.4.2. Mexico Propionic Acid Market
  9.4.3. Rest of Latin America Propionic Acid Market
9.5. Middle East & Africa Propionic Acid Market
  9.5.1. Saudi Arabia Propionic Acid Market
  9.5.2. South Africa Propionic Acid Market
  9.5.3. Rest of Middle East & Africa Propionic Acid Market

CHAPTER 10. COMPETITIVE INTELLIGENCE

10.1. Key Company SWOT Analysis
  10.1.1. BASF SE
  10.1.2. The Dow Chemical Company
  10.1.3. Eastman Chemical Company
10.2. Top Market Strategies
10.3. Company Profiles
  10.3.1. BASF SE
    10.3.1.1. Key Information
    10.3.1.2. Overview
    10.3.1.3. Financial (Subject to Data Availability)
    10.3.1.4. Product Summary
    10.3.1.5. Market Strategies
  10.3.2. The Dow Chemical Company
  10.3.3. Eastman Chemical Company
  10.3.4. Perstorp Holding AB
  10.3.5. Daicel Corporation
  10.3.6. Oxea GmbH
  10.3.7. Merck KGaA
  10.3.8. Hawkins, Inc.
  10.3.9. Macco Organiques Inc.
  10.3.10. Tokyo Chemical Industry Co., Ltd.

CHAPTER 11. RESEARCH PROCESS

11.1. Research Process
  11.1.1. Data Mining
  11.1.2. Analysis
  11.1.3. Market Estimation
  11.1.4. Validation
  11.1.5. Publishing
11.2. Research Attributes

12. LIST OF TABLES

TABLE 1. Global Propionic Acid market, report scope
TABLE 2. Global Propionic Acid market estimates & forecasts by Region 2022-2032 (USD Million/Billion)
TABLE 3. Global Propionic Acid market estimates & forecasts by Application 2022-2032 (USD Million/Billion)
TABLE 4. Global Propionic Acid market estimates & forecasts by Material Type 2022-2032 (USD Million/Billion)
TABLE 5. Global Propionic Acid market estimates & forecasts by Formulation Type 2022-2032 (USD Million/Billion)
TABLE 6. Global Propionic Acid market estimates & forecasts by End Use Industry 2022-2032 (USD Million/Billion)
TABLE 7. Global Propionic Acid market by segment, estimates & forecasts, 2022-2032 (USD Million/Billion)
TABLE 8. Global Propionic Acid market by region, estimates & forecasts, 2022-2032 (USD Million/Billion)
TABLE 9. Global Propionic Acid market by segment, estimates & forecasts, 2022-2032 (USD Million/Billion)
TABLE 10. Global Propionic Acid market by region, estimates & forecasts, 2022-2032 (USD Million/Billion)
TABLE 11. Global Propionic Acid market by segment, estimates & forecasts, 2022-2032 (USD Million/Billion)
TABLE 12. Global Propionic Acid market by region, estimates & forecasts, 2022-2032 (USD Million/Billion)
TABLE 13. Global Propionic Acid market by segment, estimates & forecasts, 2022-2032 (USD Million/Billion)
TABLE 14. Global Propionic Acid market by region, estimates & forecasts, 2022-2032 (USD Million/Billion)
TABLE 15. U.S. Propionic Acid market estimates & forecasts, 2022-2032 (USD Million/Billion)
TABLE 16. U.S. Propionic Acid market estimates & forecasts by Application 2022-2032 (USD Million/Billion)
TABLE 17. U.S. Propionic Acid market estimates & forecasts by Material Type 2022-2032 (USD Million/Billion)
TABLE 18. Canada Propionic Acid market estimates & forecasts, 2022-2032 (USD Million/Billion)
TABLE 19. Canada Propionic Acid market estimates & forecasts by Application 2022-2032 (USD Million/Billion)
TABLE 20. Canada Propionic Acid market estimates & forecasts by Material Type 2022-2032 (USD Million/Billion)
…..
This list is not complete, final report does contain more than 100 tables. The list may be updated in the final deliverable.

12. LIST OF FIGURES

FIG 1. Global Propionic Acid market, research methodology
FIG 2. Global Propionic Acid market, market estimation techniques
FIG 3. Global market size estimates & forecast methods.
FIG 4. Global Propionic Acid market, key trends 2023
FIG 5. Global Propionic Acid market, growth prospects 2024-2032
FIG 6. Global Propionic Acid market, Porter’s 5 Force Model
FIG 7. Global Propionic Acid market, PESTEL analysis
FIG 8. Global Propionic Acid market, value chain analysis
FIG 9. Global Propionic Acid market by segment, 2022 & 2032 (USD Million/Billion)
FIG 10. Global Propionic Acid market by segment, 2022 & 2032 (USD Million/Billion)
FIG 11. Global Propionic Acid market by segment, 2022 & 2032 (USD Million/Billion)
FIG 12. Global Propionic Acid market by segment, 2022 & 2032 (USD Million/Billion)
FIG 13. Global Propionic Acid market by segment, 2022 & 2032 (USD Million/Billion)
FIG 14. Global Propionic Acid market, regional snapshot 2022 & 2032
FIG 15. North America Propionic Acid market 2022 & 2032 (USD Million/Billion)
FIG 16. Europe Propionic Acid market 2022 & 2032 (USD Million/Billion)
FIG 17. Asia Pacific Propionic Acid market 2022 & 2032 (USD Million/Billion)
FIG 18. Latin America Propionic Acid market 2022 & 2032 (USD Million/Billion)
FIG 19. Middle East & Africa Propionic Acid market 2022 & 2032 (USD Million/Billion)
FIG 20. Global Propionic Acid market, company market share analysis (2023)
…..
This list is not complete, final report does contain more than 50 figures. The list may be updated in the final deliverable.