Propionic Acid Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019
DUBLIN, June 13, 2014 /PRNewswire/ --
Research and Markets (http://www.researchandmarkets.com/research/hhl9nj/propionic_acid) has announced the addition of the "Propionic Acid Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019" report to their offering.
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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.
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/hhl9nj/propionic_acid
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SOURCE Research and Markets