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Propionic Acid market Trends
Propionic acid market is anticipated to generate $1.6 billion by 2026. The market is projected to experience growth at a CAGR of 3.5% from 2019 to 2026.
WILMINGTON, DE, UNITED STATES, January 28, 2025 /EINPresswire / -- The propionic acid market study examines the revenue potential growth while analyzing regional trends. It also provides qualitative insights based on various parameters, including the sector size's immediate impact, economic effects, regulatory frameworks, opportunities, and strategies adopted by key players. The research comprises a company profile section, detailing key executives, company overview, operational segments, product/service portfolio, R&D investments, significant strategic initiatives and developments, and business performance.
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Furthermore, the report provides detailed statistics on the drivers, restraints, and opportunities that directly influence the market. It also emphasizes evaluating the market scope across four key regions: Asia-Pacific, Europe, North America, and LAMEA. In summary, the report is designed to offer readers a thorough assessment of industry analysis and trends. A report published by Allied Market Research states that the propionic acid market is expected to register an impressive CAGR of 3.5% with net revenue of $1,6 billion by 2026.
Market dynamics
The global propionic acid market is driven by its growing use in the food and beverage industry as a preservative and for packaging ready-to-eat food, along with increasing demand for safe animal feed. However, potential adverse effects on human health and concerns over its use in herbicides challenge market growth. Conversely, using propionate esters as solvents and propionic acid as antibiotics presents promising opportunities in the coming years.
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Industry highlights
In February 2024, Inabata & Co., Ltd. and Daicel Corporation entered into a joint venture agreement to establish Novacel Co., Ltd. This initiative aligns with Daicel's "Accelerate 2025" strategy, aimed at transforming its business structure and advancing engineering plastics. The partnership seeks to combine Daicel's expertise in resin technology with Inabata's manufacturing capabilities to drive market innovation and collaboration.
In October 2022, BASF began offering propionic acid (PA) and neopentyl glycol (NPG) with a zero-carbon footprint. These products, manufactured at BASF's Ludwigshafen Verbund site in Germany, are now available globally.
Competitor's analysis
Competitive analysis in the report enables businesses to identify both direct and indirect competitors, helping them strategically position themselves in the market. It also aids in recognizing potential threats from new entrants or alternative solutions, ensuring proactive decision-making. This analysis enables businesses to compare their product features with those of competitors, helping to identify unique selling propositions (USPs). This insight informs decisions on product improvements and the development of new features to maintain a competitive edge.
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Leading entities profiled in the report are:
BASF SE
Eastman Chemical Company
Celanese Corporation
Hawkins, Inc.
CORBION N.V
Oman Oil Company SAOC
Otto Chemie Pvt. Ltd.
Perstorp Holding AB
Dow Inc.
Merck KGaA
Trend assessment
Trend analysis offers valuable insights into customer behaviors, preferences, and purchasing patterns. This knowledge is essential for crafting customer-centric strategies that boost engagement and satisfaction.
The increasing use of agro-industrial by-products like whey and corn-step liquor for propionic acid production is gaining momentum. These renewable materials help minimize waste and offer an environment-friendly alternative to the conventional petrochemical methods traditionally employed for propionic acid synthesis.
Advancements in genetic engineering have led to the creation of strains with optimized metabolic pathways for trehalose synthesis, enhancing acid tolerance and overall production efficiency. By modifying specific genes in P. acidipropionici, researchers have improved the organism's resistance to acidic environments, resulting in higher propionic acid yields during fermentation.
To conclude, the AMR report delivers a comprehensive analysis of the propionic acid industry, addressing all key aspects of the sector. It provides in-depth insights into the strategies employed by multinational companies in this market. In addition, the report includes interviews with stakeholders and market participants, offering valuable guidance for newcomers aiming to understand the industry's evolving dynamics.
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MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.