Propionic Acid Market in APAC to Grow at 2.9% CAGR 2013-2019 thanks to Rising Demand from End-use Industries: Transparency Market Research
By Business Wire News
By Business Wire News
Transparency Market Research announces the release of a new report, titled “Propionic Acid Market for Animal Feed & Grain Preservatives, Calcium & Sodium Propionates, Cellulose Acetate Propionate and Other Applications – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019”.
According to the report, the global propionic acid market will develop from a value of US$908.0 million in 2012 to US$1,540.5 million by 2019, recording a steady 7.7% CAGR during the forecast period. By volume, the propionic acid market is expected to present a 2.3% CAGR from 2013 to 2019.
Propionic acid is used in calcium and sodium propionates, animal feed and grain preservatives, cellulose acetate propionate, herbicides, and others. With a share of 52.5% in the market in 2012, the segment of animal feed and grain preservatives dominated the propionic acid market. The segment of cellulose acetate propionate is estimated to grow at a 1.9% CAGR from 2013 to 2019.
The four regions studied in the propionic acid market report are North America, Asia Pacific, Europe, and Rest of the World. Europe dominated the global market in 2012 with a share of 39.9%. This was followed by North America, with a 29.8% share. Registering a 2.9% CAGR from 2013 to 2019, Asia Pacific is likely to be the most rapidly developing regional market for propionic acid. Growing pharmaceutical and food and beverage industries in this region are expected to boost the demand for propionic acid.
BASF SE, Perstorp Holdings GmbH, Biomin Holdings GmbH, Eastman Chemical Company, Prathista Industries Ltd, The Dow Chemical Company, A.M Food Chemical Co Ltd., Daicel Corporation, and Celanese Corporation are some of the leading players in the global propionic acid market.
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Transparency Market Research (TMR) is a U.S. based market intelligence company driven by high-pedigree consultants and researchers. TMR leverages its Syndicated Research, Custom Research, and Market Consulting expertise to help businesses make accurate decisions. TMR’s exclusive blend of quantitative forecasting and trends analysis draws on proprietary data sources and techniques, while their data repository is continuously updated to reflect the latest trends.