|By Marketwired .||
|July 15, 2014 10:00 AM EDT||
DUBLIN, IRELAND -- (Marketwired) -- 07/15/14 -- Research and Markets (http://www.researchandmarkets.com/research/7ktk6h/propionic_acid) has announced the addition of the "Global Propionic Acid Market 2013-2019: Animal Feed and Grain Preservatives/Calcium and Sodium Propionates/Cellulose Acetate Propionate/Herbicides" report to their offering.
Propionic acid (CH3CH2COOH) is a naturally occurring carboxylic acid. It is a colorless oily liquid with pungent odor. Propionic acid is miscible in water. It is used to manufacture a number of salts and esters, and flavoring agents. It is also used in food. Propionic acid is used mainly as a preservative for both animal feed and food for humans. Its primary function is to inhibit the growth of bacteria and molds that thrive on crops and agricultural yields.
Increasing demand from animal feed and grain preservative sectors is expected to be a key driving factor for the propionic acid market. Furthermore, rising demand for flavoring agents from end-use industries due to growth in food industry, and from plastic industry for thermoplastics is anticipated to boost the market for propionic acid. Environmental concerns regarding the role of herbicides in air and water pollution may hamper demand for propionic acid. Furthermore, the adverse effect on human health, including genetic changes, tumors and skin irritation, is estimated to be a restraint for the propionic acid market.Propionic acid is used in host of applications in various industries including pharmaceutical industry. Rising demand from the pharmaceutical industry in production of solvents and non-steroidal anti-inflammatory drugs is expected to fuel demand for propionic acid globally. Increasing demand for Vitamin E to improve the quality of poultry feed and as key ingredient to manufacture skin creams, hairspray and other personal care products is expected to open up opportunities for the propionic acid market in the near future.
Propionic acid is primarily used to control the growth of fungi and bacteria in stored hay, grains, poultry litter among others. The major applications of propionic acid include animal feed and grain preservatives, Cellulose Acetate Propionate (CAP), calcium and sodium propionates and herbicides among others. Animal feed and grain preservatives protect feed and grains from bacteria and molds. CAP is a free flowing, low odor powder that has its applications in printing inks and personal care products. CAP application segment accounted for around 9% of the total revenue generated by the propionic acid market in 2012.
Europe is the largest market growing at a CAGR of 2.1% in terms of volume from 2013 to 2019. The ban imposed on antibiotic and few other applications increased demand for propionic acid in Europe. However, the market is anticipated to experience steady growth in the near future as emerging economies are contributing to rising demand for propionic acid. Europe was followed by North America with 29.8% of the total propionic acid volume consumed in 2012. Emerging economies are expected to fuel the demand for propionic acid owing to growth trends in end use industries. However, Asia Pacific is expected to be the fastest growing market at a CAGR of 2.9% in terms of volume demand from 2013 to 2019.
The major players producing propionic acid include, BASF SE, The Dow Chemical Company, Perstorp Holding GmbH, Biomin Holdings GmbH and Eastman Chemical Company among others. These manufacturers exhibit high level of integration across value chain of propionic acid and are engaged in the manufacturing of propionic acid as well as it raw materials. This helps them overcome the dependence on other companies for raw materials. Some propionic acid manufacturers are forward integrated as well and supply propionic acid and products to various end-user industries. Most of the companies distribute their products through their own distribution network and few companies avail services of third party distributors and supply contracts.
Key Topics Covered:
Chapter 1 Preface
Chapter 2 Executive Summary
Chapter 3 Propionic Acid: Global Industry Analysis
Chapter 4 Propionic Acid Market - Application Analysis
Chapter 5 Propionic Acid Market: Regional Analysis
Chapter 6 Company Profiles
-- A.M Food Chemical Co., Ltd. -- BASF SE -- Biomin Holding GmbH -- Celanese Corporation -- Daicel Corporation -- Eastman Chemical Company -- Perstorp Holding AB -- Prathista Industries Ltd -- The Dow Chemical Company
For more information visit http://www.researchandmarkets.com/research/7ktk6h/propionic_acid
Sector: Process and Materials
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