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| Source: commons.wikimedia.org |
According to the market research report, global market for Propionic acid
was near about $ 935.7 million in 2012. The projected growth of this market
till 2018 said that it will reach $ 1,608.8 million.
CH3CH2COOH,
a three-carbon carboxylic acid commonly known as Propionic acid is a colourless,
clear liquid having pungent odour. It may cause irritation to human body when
used with carelessness.
It is formed as a
result of chemical reaction between hydrocarboxylation of ethylene in the
presence of nickel carbonyl as a catalyst.
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| Source: www.prathista.com |
Propionic acid is used as fungicide and bactericide which is used to
control fungi and bacteria present in grains, poultry litter and drinking water
for livestock and poultry. It is available in the liquid form which can be
sprayed onto grains or grains storage areas. It is a normal component in
metabolism process in the human body. Butter and cheese are the main natural
sources of Propionic acid.
Propionic acid as its derivatives found its applications in food
preservative, herbicides, solvents and pharmaceutical industries. It restricts
growth of the bacteria and other microbes which causes food spoiling. It is
also used in production of some useful propionates such as thermoplastics. Propionic
acids are considered to be one of the safest additives available in the market.
Applications:
- Preservative
- Herbicide intermediate
- Pharmaceutical intermediate
- Food preservative (calcium and sodium propionate)
- Plastics
- Plasticizers
- Cosmetics
- Anti-mold agent (ammonium propionate)
- Flavoring agent
- Dye intermediates
- Textile and rubber auxiliaries
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| Source: www.prathista.com |
In the past few years,
the global market for Propionic acid has seen significant growth rates and this
trend will continue for the coming years. The driving demand is from the feed,
grains & food preservative market.
In Europe, the ban
imposed on antibiotics & its applications since 2006, worked in favour of Propionic
acid market which makes Europe as the largest market of it. Europe is still
expected to have healthy demand for feed and grain preservative market.
The develop countries
like the U.S., Germany, the Netherlands, Canada & Sweden have advanced
production facilities which makes them the major exporters of Propionic acid.
On the other hand, Russia, India, Brazil, South Africa, France & Spain will
be major importers for the acid.
So far, developed countries are the major market for this acid but due
to increasing awareness about its benefits, demand from developing markets is
also increasing.
The market is expected to grow with a CAGR of 7.8 % from 2013 to 2018.
The major players in this industry are as follows:
- BASF SE (Germany),
- The Dow Chemical Company (U.S.),
- Perstorp (Sweden),
- Eastman Chemical (U.S.),
- Niacet Corporation (U.S.)
The market study done
by MarketsandMarkets analyzes the demand for 2018 market projecting the trends
from 2013. The research study includes qualitative and quantitative methods and
discussed major factors like market drivers, opportunities, winning strategies,
challenges and threats in the market.
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| Source: commons.wikimedia.org |
The market can be
segmented on the basis of applications of Propionic acid like animal feed and
grain preservatives, herbicides, cellulose acetate propionate and food
preservatives.
The demand for Propionic acid from food preservative sectors is growing
due to the increasing demand to shelf life of the food.
The factors which affect demand for Propionic acid are limited production
capacity and lack of technological adaptations in production.
By having acess to some of the quality market report, the marketers and investors can have better understanding of the business environment which will help them to cope up in the worst condition and to lead the business in the good market condition.
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