Asia-Pacific Propionic Acid and Derivatives Market Segmentation, By Product (Propionic Acid, Derivatives), Grade (Industrial Grade/Technical Grade, Food Grade, Feed Grade, Pharma Grade), Form (Dry, Liquid), Type (Encapsulated, Non-Encapsulated), Source (Natural, Synthetic), Application (Food & Beverage, Feed, Pharmaceuticals, Cosmetics, Home & Personal Care, Agriculture, Industrial and others) - Industry Trends and Forecast to 2031.
Asia-Pacific Propionic Acid and Derivatives Market Size
Asia-Pacific propionic acid and derivatives market size was valued at USD 452.79 million in 2023 and is projected to reach USD 819.64 million by 2031, with a CAGR of 7.7% during the forecast period of 2024 to 2031.
Report Scope and Market Segmentation
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Attributes
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Propionic Acid and Derivatives Key Market Insights
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Segmentation
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By Product: Propionic Acid, Derivatives
By Grade: Industrial Grade/Technical Grade, Food Grade, Feed Grade, Pharma Grade
By Form: Dry, Liquid
By Type: Encapsulated, Non-Encapsulated
By Source: Natural, Synthetic
By Application: Food & Beverage, Feed, Pharmaceuticals, Cosmetics, Home & Personal Care, Agriculture, Industrial and others
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Countries Covered
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China, Japan, India, Australia, South Korea, Thailand, Singapore, Indonesia, Malaysia, Philippines, Rest of Asia-Pacific
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Key Market Players
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Kemin Industries, Inc., A.M FOOD CHEMICAL CO., LIMITED., Biomin, Niacet, Impextraco NV, Finoric LLC, Eastman Chemical Company, Perstorp, NOVUS INTERNATIONAL, BASF SE, Spectrum Chemical Manufacturing Corp., Celanese Corporation, Dow, Krishna Chemicals, and Daicel Corporation
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Propionic Acid and Derivatives Market Dynamics
The rising demand from feed and food preservative manufacturers is leading the growth of the propionic acid and derivatives market.
The use of propionic acid is increasing in various applications such as in feed preservatives, food preservatives and many others. Also, if they are used in an appropriate proportion, they can increase the feed intake in animals. So, the propionic acid and its derivatives have less side effects and it is safe for use in various applications and acting as driving factor for the propionic acid & derivatives market. The increasing demand for propionic acid in various applications is increasing the prices of propionic acid and its derivatives. Hence, it can act as a restraining factor for the propionic acid & derivatives market.
The propionic acid helps in the prevention of animal feed from mold and other bacteria’s and thus helps in promoting the growth in animals by increasing the quality of feed. Hence, it can be the great opportunity for propionic acid producers in the propionic acid & derivatives market. The health hazards related to the propionic acid are very dangerous and in a severe case, it can lead to the death of the person as well. Hence, this can be a challenge for propionic acid manufacturers in the propionic acid & derivatives market.
This propionic acid and derivatives market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographical expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
Propionic Acid and Derivatives Market Scope
The propionic acid & derivatives market is segmented into six notable segments which are based on product, grade, form, type, source, and application. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
Product
- Propionic Acid
- Derivatives
Grade
- Industrial Grade
- Technical Grade
- Food Grade
- Feed Grade
- Pharma Grade
Form
- Dry
- Liquid
Type
- Encapsulated
- Non-encapsulated
Source
- Natural
- Synthetic
Application
- Food & Beverage
- Feed
- Pharmaceuticals
- Cosmetics
- Home & Personal Care
- Agriculture
- Industrial
- Others
Propionic Acid and Derivatives Market Regional Analysis
Global propionic acid & derivatives market is analyzed and market size information is provided by country, product, grade, form, type, source and application as referenced above.
The countries covered in the propionic acid & derivatives market report are China, Japan, India, Australia, South Korea, Thailand, Singapore, Indonesia, Malaysia, Philippines and rest of Asia-Pacific.
China is dominating the market as the production and consumption of the propionic acid and derivatives are high. Manufacturer of feed, food and other industries are highly consuming it for the preservation purposes. However, India may grow in future as population is increasing which is demanding for more food and feed.
The country section of the propionic acid & derivatives market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Propionic Acid and Derivatives Market Share
Asia-Pacific propionic acid a derivatives market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research anndd development, new market initiatives, global presence, production sites and facilities, company strengths and weaknesses, product launch, clinical trials pipelines, brand analysis, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to market.
Propionic Acid and Derivatives Market Leaders Operating in the Market Are:
- Kemin Industries, Inc.
- A.M FOOD CHEMICAL CO., LIMITED
- Biomin
- Niacet
- Impextraco NV
- Finoric LLC
- Eastman Chemical Company
- Perstorp
- NOVUS INTERNATIONAL
- BASF SE
- Spectrum Chemical Manufacturing Corp.
- Celanese Corporation
- Dow
- Krishna Chemicals
- Daicel Corporation
Latest Developments in Propionic Acid and Derivatives Market
- In May 2019, BASF and SINOPEC have created a joint venture in Nanjing, China. This was the company’s second propionic acid production plant at the Verbund site, BASF-YPC Co., Ltd. The new plant has an annual production capacity of 30,000 metric tons of propionic acid. The total capacity of the two plants has thus been increased to 69,000 metric tons per year.
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