Propionic Acid Market: Unveiling Innovations in Bioplastics and Organic Synthesis (2023-2029)
Propionic Acid Market Set to Surge at a Remarkable CAGR of 6.5% by 2029, Reaching US$ 2.63 Billion
In a recent market analysis, the Global Propionic Acid Market is predicted to experience robust growth, with a projected Compound Annual Growth Rate (CAGR) of 6.5% throughout the forecast period, culminating in an estimated value of US$ 2.63 billion by 2029.
The comprehensive report aims to offer valuable insights, backed by thoughtful analysis, historical data, industry-validated market information, and projections, employing a well-defined set of assumptions and methodologies. By scrutinizing market dynamics and segmenting the industry, the report provides a detailed understanding of the Propionic Acid market, helping stakeholders make informed decisions.
Propionic Acid Market Report Scope and Research Methodology:
The growth of different segments in the Propionic Acid market helps identify key growth factors and develop strategies to target core application areas and fill gaps in the target market.
The report provides an in-depth analysis of the Propionic Acid market, offering meaningful insights, facts, historical data, and statistically supported and industry-validated market statistics. It also includes estimates based on an appropriate set of assumptions and methodologies. A bottom-up approach was employed to estimate the Propionic Acid market size.
Key players in the Propionic Acid industry were identified through secondary research, and their market revenues were determined through primary and secondary research. The report also covers mergers and acquisitions, strategic alliances, joint ventures, and partnerships in the Propionic Acid market by region, by investment, and their strategic intent.
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Propionic Acid Market Regional Insights:
The global Propionic Acid market is divided into five regions: Europe, North America, Asia-Pacific, the Middle East and Africa, and Latin America. The report provides regional analysis with the Propionic Acid market size for each region.
The country-level analysis examines various market factors expected to influence current and future Propionic Acid market trends, along with changes in market regulations at the country level. Key factors used to forecast the Propionic Acid market situation in each country include consumption, production location and volume, import/export analysis, pricing analysis, raw material prices, and upstream and downstream value chain analysis.
Propionic Acid Market Segmentation:
According to end use, the food and beverage segment is projected to hold a significant revenue share in the global market and continue to grow during the projected period. The global food and beverage industry's robust expansion has led to an increase in demand for flavouring agents. This is probably one of the key factors propelling the propionic acid market's expansion. Propionic acid-fermented dairy drinks may increase feelings of fullness, but more research is needed to determine the ideal dosage and palatability of commercially viable food ideas.
Regarding application, the animal feed sector holds the largest revenue share in the worldwide market. Depending on the application, such as herbicides, cellulose acetate propionate, calcium and sodium propionates, animal feed, and grain preservatives, among others. With 52% of the market share, animal feed and grain preservatives saw the fastest rate of growth among those applications. Because of the increased demand for animal feed and grain preservatives brought about by superior livestock farming, this segment is predicted to grow over the forecast period. In 2017, the second largest market segment was that of sodium and calcium propionates.
Propionic Acid Market Key Players:
1. BASF SE
2. DowDuPont
3. Perstorp Orgnr
4. Eastman Chemical Company
5. Macco Organiques Inc.
6. Krishna Chemicals
7. A.M. Food Chemical Co., Ltd.
8. Merck KGaA
9. OXEA GmbH
10. Perstorp
11. Biomin Holdings GmbH.
12. DAICEL CORPORATION
13. Hawkins, Inc.
14. Corbion N.V.
15. Otto Chemie Pvt. Ltd.
16. Oman Oil Company SAOC
17. Celanese Corporation
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Key Questions answered in the Propionic Acid Market Report are:
- What is the forecast period?
What is the expected Propionic Acid market size by the end of the forecast period?- What are the Propionic Acid market segments?
- Which segment in the Propionic Acid market is expected to grow rapidly during the forecast period?
- Who are the prominent players in the Propionic Acid market?
- What key trends are expected to emerge in the Propionic Acid market during the forecast period?
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