Who are the key players in Propionic Acid Market?

BASF SE, Eastman Chemical Company, Dow, Perstorp and Daicel Corporation are the major companies operating in the Propionic Acid Market. Read More

Which is the fastest growing region in Propionic Acid Market?

Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Propionic Acid Market?

In 2024, the Europe accounts for the largest market share in Propionic Acid Market. Read More

What years does this Propionic Acid Market cover, and what was the market size in 2023?

In 2023, the Propionic Acid Market size was estimated at 398.86 kilotons. The report covers the Propionic Acid Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Propionic Acid Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Propionic Acid Market Size

Market Size of Propionic Acid Industry

Study Period	2019 - 2029
Market Volume (2024)	412.06 kilotons
Market Volume (2029)	484.93 kilotons
CAGR (2024 - 2029)	3.31 %
Fastest Growing Market	Asia-Pacific
Largest Market	Europe
Market Concentration	High
Major Players *Disclaimer: Major Players sorted in no particular order

Propionic Acid Market Analysis

The Propionic Acid Market size is estimated at 412.06 kilotons in 2024, and is expected to reach 484.93 kilotons by 2029, growing at a CAGR of 3.31% during the forecast period (2024-2029).

The COVID-19 epidemic harmed the propionic acid sector. Global lockdowns and severe rules enforced by governments resulted in a catastrophic setback as most production hubs were shut down. Nonetheless, the business is recovering since 2021 and is expected to rise significantly in the coming years.

Over the short term, increasing demand for grain preservatives and safe animal feed and a significant increase in adoption in emerging economies are major factors driving the market studied.
On the flip side, the detrimental effects of propionic acids on human health and environmental concerns regarding herbicides are some factors hindering the growth of the market studied.
Moreover, novel process development for propionic acid production may provide opportunities for market growth shortly.
Europe dominated the global propionic acid market, and Asia-Pacific will likely witness the highest growth rate during the forecast period.

Propionic Acid Industry Segmentation

Propionic acid is a colorless liquid with a strong odor, which is miscible with water and a few organic solvents. The other names of propionic liquids include carboxylic acid, ethane-carboxylic acid, carboxy ethane, and ethyl formic acid. Propionic acid is a naturally occurring substance that can be used in essential oils as esters. The propionic acid market is segmented based on application, end-user industry, and geography. The market is segmented by application into animal feed and food preservatives, calcium, ammonium, sodium salts, cellulose acetate propionate, herbicides, plasticizers, and other applications. The end-user industry segments the market into agriculture, food and beverage, personal care, pharmaceutical, and other industries. The report also covers the market size and forecasts for the propionic acid market in 15 countries across major regions. The market sizing and forecasts for each segment are based on volume (Tons).

Application
		Animal Feed and Food Preservatives
		Calcium, Ammonium, and Sodium Salts
		Cellulose Acetate Propionate
		Herbicides
		Plasticizers
		Other Applications

End-user Industry
		Agriculture
		Food and Beverage
		Personal Care
		Pharmaceutical
		Other End-user Industries

Geography

Asia-Pacific
	China
	India
	Japan
	South Korea
	Rest of Asia-Pacific

North America
	United States
	Canada
	Mexico

Europe
	Germany
	United Kingdom
	Italy
	France
	Rest of Europe

South America
	Argentina
	Brazil
	Rest of South America

Middle-East and Africa
	Saudi Arabia
	South Africa
	Rest of Middle-East and Africa

Need A Different Region Or Segment?

Customize Now

Propionic Acid Market Size Summary

The propionic acid market is poised for steady growth over the forecast period, driven by its increasing application as a preservative in animal feed and grain, particularly in the agriculture sector. The recovery from the setbacks caused by the COVID-19 pandemic has been notable, with the market regaining momentum since 2021. The demand for propionic acid is further bolstered by its use in sanitizing storage surfaces and as an antibacterial agent in livestock water, which is crucial for maintaining animal health. The burgeoning agricultural output in countries like India, a major producer and exporter of cereals, is expected to enhance the consumption of propionic acid. However, the market faces challenges due to health and environmental concerns associated with its use, which could potentially hinder growth. Despite these challenges, advancements in production processes present opportunities for market expansion.

Regionally, Europe dominates the propionic acid market, with significant contributions from its food and beverage industry, particularly in Germany. The ongoing investments and growth in this sector are anticipated to positively impact the market. Additionally, the cosmetics and personal care industry in Europe, the largest globally, is expected to further drive demand for propionic acid due to its role in preventing spoilage and controlling pH in cosmetic products. The Asia-Pacific region is projected to experience the highest growth rate, supported by increasing adoption in emerging economies. The market is characterized by a high level of consolidation, with key players like BASF SE, Dow, and Eastman Chemical Company leading the industry. Recent initiatives, such as BASF SE's carbon-neutral certification, highlight the industry's focus on sustainability, which may influence future market dynamics.

Explore More

Propionic Acid Market Size - Table of Contents

1. MARKET DYNAMICS
1. 1.1 Drivers
  1. 1.1.1 Increasing Demand for Grain Preservatives and Safe Animal Feed
  2. 1.1.2 Significant Increase in Adoption in Emergeing Economies
  3. 1.1.3 Other Drivers
2. 1.2 Restraints
  1. 1.2.1 Detrimental Effects of Propionic Acid on Human Health
  2. 1.2.2 Environmental Concerns Regarding Use of Herbicides
  3. 1.2.3 Other Restraints
3. 1.3 Industry Value Chain Analysis
4. 1.4 Porter's Five Forces Analysis
  1. 1.4.1 Bargaining Power of Suppliers
  2. 1.4.2 Bargaining Power of Buyers
  3. 1.4.3 Threat of New Entrants
  4. 1.4.4 Threat of Substitute Products and Services
  5. 1.4.5 Degree of Competition
2. MARKET SEGMENTATION (Market Size in Volume)
1. 2.1 Application
  1. 2.1.1 Animal Feed and Food Preservatives
  2. 2.1.2 Calcium, Ammonium, and Sodium Salts
  3. 2.1.3 Cellulose Acetate Propionate
  4. 2.1.4 Herbicides
  5. 2.1.5 Plasticizers
  6. 2.1.6 Other Applications
2. 2.2 End-user Industry
  1. 2.2.1 Agriculture
  2. 2.2.2 Food and Beverage
  3. 2.2.3 Personal Care
  4. 2.2.4 Pharmaceutical
  5. 2.2.5 Other End-user Industries
3. 2.3 Geography
  1. 2.3.1 Asia-Pacific
    1. 2.3.1.1 China
    2. 2.3.1.2 India
    3. 2.3.1.3 Japan
    4. 2.3.1.4 South Korea
    5. 2.3.1.5 Rest of Asia-Pacific
  2. 2.3.2 North America
    1. 2.3.2.1 United States
    2. 2.3.2.2 Canada
    3. 2.3.2.3 Mexico
  3. 2.3.3 Europe
    1. 2.3.3.1 Germany
    2. 2.3.3.2 United Kingdom
    3. 2.3.3.3 Italy
    4. 2.3.3.4 France
    5. 2.3.3.5 Rest of Europe
  4. 2.3.4 South America
    1. 2.3.4.1 Argentina
    2. 2.3.4.2 Brazil
    3. 2.3.4.3 Rest of South America
  5. 2.3.5 Middle-East and Africa
    1. 2.3.5.1 Saudi Arabia
    2. 2.3.5.2 South Africa
    3. 2.3.5.3 Rest of Middle-East and Africa