Propionic Acid Market Size – Dominated By Europe

Propionic acid, also known as CH3CH2COOH, is a 3-carbon carboxylic acid. It is a dull and plain liquid and has a strong smell. It is made on a commercial basis by the hydrocarboxylation of ethylene when nickel carbonyl catalyst is present. Propionic acid and its subsidiaries are widely used as food additives and feed. It prevents the spread of bacteria and other microorganisms. Other sectors where propionic acid is used are pharmaceuticals, herbicides and solvents.

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Propionic acid can lead to irritation of the human body in case people come in touch with it. So, different health establishments are constantly involved in observing its contact effects. The worldwide propionic acid market has developed considerably in the last few years. It is estimated to expand more rapidly in the coming five years. The market is predicted to be propelled ahead by augmented requirement from grain, feed and food additives.

Europe was the biggest propionic acid market in recent times. It is majorly propelled by the ban enforced on antibiotics in certain applications ever since 2006. The demand in Europe is anticipated to grow healthily owing to large demand for the grain and feed additive sectors. The United States of America is the biggest solitary propionic acid market in the world. The propionic acid market was estimated to generate revenue worth USD 908 million in 2012.

It was predicted to increase during the projected phase, at about 8 percent CAGR. This phase lasts from 2013 to 2019. The market is expected to garner revenue worth about USD 1, 540 million by 2019. The growing use of subsidiaries of propionic acid also drives the propionic acid market ahead. Moreover, the accentuating demand for food additives owing to fast development of this industry on a worldwide level also adds to the revenue of the propionic acid market.

Propionic Acid Market Size

Source: Grand View Research






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