Global Propionic Acid Market By Application (Animal Feed, Calcium & Sodium Propionate, Cellulose Acetate Propionate) Expected To Reach USD 1.53 Billion By 2020: Grand View Research, Inc.

December 2015 | Report Format: Electronic (PDF)

Global Propionic Acid Market is expected to reach USD 1.53 billion by 2020, according to a new study by Grand View Research, Inc. Animal feed application dominated the propionic acid market accounting for over 50% of global demand in 2013. Increasing demand for mold & bacteria curbing additives in animal feed coupled with growing concern for improving animal nutrition is expected to drive market growth.

Europe was the largest regional market accounting for over 35% of global propionic acid market demand in 2013. Favorable regulatory scenario along with growing food preservative & animal feed market in the region has favored propionic acid demand over the past few years. The regional market is expected to continue dominance over the forecast period on account of new market supporting regulations and expanding niche applications including herbicides & bakery preservatives. ‘The European Union Hygiene Directive’ by REACH aims towards maintaining hygiene and quality of mixed-feed products and is expected to fuel propionic acid market growth over the next six years.

 To request a sample copy or view summary of this report, click the link below:
http://www.grandviewresearch.com/industry-analysis/propionic-acid-market

Further key findings from the study suggest:

  • Global propionic acid market demand was 399.4 kilo tons in 2013 and is expected to exceed 470.0 kilo tons by 2020, growing at an estimated CAGR of 2.7% from 2014 to 2020.

  • North America propionic acid market accounted for over 28% of global demand in 2013 and is estimated to lose share to high growth regions such as Asia Pacific. Asia Pacific market is expected to grow at a CAGR of over 3% from 2014 to 2020 owing to expanding animal feed additives industry in Australia, India and China. Chinese propionic acid market is characterized by growing demand in food preservatives and pharmaceuticals.

  • Calcium & sodium propionate was the second largest application segment accounting for over 18% of the global demand in 2013 and is estimated to grow at a CAGR of over 2.5% from 2014 to 2020. Increasing packed food consumption due to changing lifestyle is expected to drive calcium & sodium propionate demand in food preservatives.

  • Propionic acid market comprises some major chemical manufacturing firms and is moderately consolidated. The market participants have been investing heavily on capacity expansions and application development. Some key players in the market include BASF, Eastman Chemical Company, Dow, Perstorp and Biomin Holdings GmbH.

Grand View Research has segmented the propionic acid market on the basis of application and region:

Global Propionic Acid Market Application Outlook (Volume, Kilo Tons, Revenue, USD Million, 2012 - 2020)

  • Animal feed

  • Calcium & Sodium Propionate

  • Cellulose Acetate Propionate

  • Others (Herbicides)

Global Propionic Acid Market Regional Outlook (Volume, Kilo Tons, Revenue, USD Million, 2012 - 2020)

  • North America

  • Europe

  • Asia Pacific

  • RoW

Request Sample
Request for Customization

Choose License Type:

Single User - $4,950
Multi User - $7,950
Enterprise User - $9,950

Special Pricing & Discounts

Avail customized purchase options to meet your research needs:

  • Buy sections of this report
  • Buy country level reports
  • Request for historical data
  • Request discounts available for Start-Ups & Universities

Why Choose Us

  • Research support

    24/5 Research support

    Get your queries resolved from an industry expert. Request for a free product review before report purchase.

  • Custom research service

    Custom research service

    Speak to the report author to design an exclusive study to serve your research needs.

  • Quality assurance

    Quality assurance

    A testimonial for service excellence represented in the form of BBB "A" Accreditation.

  • BBB Rating dandb
  • Information security

    Information security

    Your personal and confidential information is safe and secure.

  • BOA