Market Research Reports

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

73pages
Published Date: 2014-05-12
 

Description


Propionic acid is a naturally occurring carboxylic acid. In its pure state, it is a clear, colorless liquid with pungent odor. It is miscible in water. Calcium and sodium propionates, cellulose acetate propionate and herbicides are expected to drive the global propionic acid market due to a wide range of applications such as feed and grain preservatives for animals and food preservatives for humans. High demand from industries such as pharmaceutical, food and plastic for propionic acid is anticipated to boost the global propionic acid market in the near future. Additionally, increasing demand for Vitamin E is expected to create opportunities for the propionic acid market in the near future.

Secondary research sources that are typically referred to include, company websites, annual reports, financial reports, broker reports, investor presentations and SEC filings. We reviewed key players’ product literature, annual reports, press releases and relevant documents for competitive analysis and market understanding. Other sources include Internal and external proprietary databases, and relevant patent and regulatory databases, national government documents, statistical databases and market reports, news articles, press releases and webcasts specific to the companies operating in the market. Secondary sources referred for propionic acid study include but are not limited to, ICIS, Chemplan Biz, Chemweekly, Food and Agriculture Organization (FAO), company presentations. Primary research represents the bulk of research efforts, supplemented by an extensive secondary research.

This study analyzes, estimates and forecasts the global propionic acid market in terms of demand, based on volume (Kilo tons) and revenue (USD million) from 2013 to 2019. The market numbers given in the report describe the global demand for propionic acid, but not the production and supply. The propionic acid report also analyzes several driving and restraining factors and their impact on the market during the forecast period. The report also throws light on key opportunities of the global propionic acid market.

The report provides a detailed view of the propionic acid market by key applications in the industry. The propionic acid report segments the market into key applications that include animal feed and grain preservatives, calcium and sodium propionates, cellulose acetate propionate (CAP) and others such as herbicides. Moreover, the report segments the market based on key geographies including North America, Europe, Asia Pacific and Rest of the World. The propionic acid report further provides market volume (Kilo tons) and revenue (USD million) for each application segment under every regional segment.

Based on the propionic acid application segment, the report analyzes the attractiveness of each segment with the help of an attractiveness tool. The propionic acid study includes a value chain analysis, which provides a better understanding of key players in supply chain from raw material manufacturers to end-users. Additionally, the propionic acid study analyzes market competition and industry players using Porter’s five forces analysis.

The report includes an overview of the market share of key companies in the global propionic acid market. Company market share has been derived on the basis of production by manufacturers of propionic acid. Key market participants profiled in the propionic acid study include BASF SE, The Dow Chemical Company, Celanese Corporation, Daicel Corporation, Perstorp Holdings GmbH, Biomin Holdings GmbH, Prathista Industries Ltd and A.M Food Chemical Co Ltd. Profiles of key participants comprise important parameters such as company overview, financial overview, business strategy, SWOT analysis and recent developments.

The report segments the global propionic acid market as:
  • Propionic Acid Market - Application Segment Analysis,
    • Animal feed and grain preservatives
    • Calcium and sodium propionates
    • Cellulose Acetate Propionate
    • Others (Herbicides etc.)
  • Propionic Acid Market - Regional Segment Analysis,
    • North America
    • Europe
    • Asia Pacific
    • Rest of the World (RoW)

Table of Contents



Chapter 1 Preface
1.1 Report description
1.2 Market segmentation
1.3 Research Scope and Assumptions
1.4 Research methodology

Chapter 2 Executive Summary
2.1 Global propionic acid market estimates and forecast, 2012–2019 (Kilo tons) (USD Million)
2.2 Global propionic acid market snapshot 2012 - 2019

Chapter 3 Propionic Acid: Global Industry Analysis
3.1 Introduction
3.2 Value chain analysis
3.3 Market Drivers
      3.3.1 Increasing demand from animal feed and grain preservative
      3.3.2 Potential market in developing economies
3.4 Restraints
      3.4.1 Adverse effects of propionic acid
              3.4.1.1 Environmental impact of propionic acid
              3.4.1.2 Health hazards associated with propionic acid
3.5 Opportunities
      3.5.1 Increasing demand from pharmaceutical industry
      3.5.2 Growing demand for Vitamin E
3.6 Porter’s five forces analysis
      3.6.1 Bargaining power of suppliers
      3.6.2 Bargaining power of buyers
      3.6.3 Threat from substitutes
      3.6.4 Threat of new entrants
      3.6.5 Degree of competition
3.7 Global propionic acid market: Company Market share analysis (2012)
3.8 Global propionic acid market: Market attractiveness analysis

Chapter 4 Propionic Acid Market –Application Analysis
4.1 Global Propionic Acid Market: Application overview
      4.1.1 Global propionic acid market volume share, by application, 2012 and 2019
4.2 Animal feed and grain preservatives
      4.2.1 Global propionic acid market for animal feed and grain preservatives, 2012–2019 (Kilo tons) (USD Million)
4.3 Calcium and sodium propionates
      4.3.1 Global propionic acid market for calcium and sodium propionates, 2012–2019 (Kilo tons) (USD Million)
4.4 Cellulose acetate propionate (CAP)
      4.4.1 Global propionic acid market for cellulose acetate propionate, 2012–2019 (Kilo tons) (USD Million)
4.5 Others (Herbicides, etc)
      4.5.1 Global propionic acid market for others, 2012–2019 (Kilo tons) (USD Million)

Chapter 5 Propionic Acid Market: Regional Analysis
5.1 Global Propionic acid market: Regional overview
      5.1.1 Global propionic acid volume share by region, 2012–2019(Kilo tons)
5.2 North America
      5.2.1 North America propionic acid market, 2012–2019(Kilo tons) (USD Million)
      5.2.2 North America propionic acid market volume, 2012–2019 (Kilo tons), by application
      5.2.3 North America propionic acid market revenue, 2012–2019 (USD Million), by application
5.3 Europe
      5.3.1 Europe propionic acid market, 2012–2019 (Kilo tons) (USD Million)
      5.3.2 Europe propionic acid market volume, 2012–2019 (Kilo tons), by applications
      5.3.3 Europe propionic acid market revenue, 2012–2019 (USD Million), by application
5.4 Asia Pacific
      5.4.1 Asia Pacific propionic acid market, 2012–2019(Kilo tons) (USD Million)
      5.4.2 Asia Pacific propionic acid market volume, 2012–2019 (Kilo tons), by application
      5.4.3 Asia Pacific propionic acid market revenue, 2012–2019 (USD Million), by application
5.5 Rest of the World (RoW)
      5.5.1 RoW propionic acid market, 2012–2019(Kilo tons) (USD Million)
      5.5.2 RoW propionic acid market volume, 2012–2019 (Kilo tons), by application
      5.5.3 RoW propionic acid market revenue, 2012–2019 (USD Million), by application

Chapter 6 Company Profiles
6.1 A.M Food Chemical Co., Ltd.
      6.1.1 Company overview
      6.1.2 Business strategy
      6.1.3 SWOT analysis
      6.1.4 Recent developments
6.2 BASF SE
      6.2.1 Company overview
      6.2.2 Financial overview
      6.2.3 Business strategies
      6.2.4 SWOT analysis
      6.2.5 Recent developments
6.3 Biomin Holding GmbH
      6.3.1 Company overview
      6.3.2 Business strategy
      6.3.3 SWOT analysis
      6.3.4 Recent developments
6.4 Celanese Corporation
      6.4.1 Company overview
      6.4.2 Financial overview
      6.4.3 Business strategy
      6.4.4 SWOT analysis
6.5 Daicel Corporation
      6.5.1 Company overview
      6.5.2 Financial overview
      6.5.3 Business strategy
      6.5.4 SWOT analysis
6.6 Eastman Chemical Company
      6.6.1 Company overview
      6.6.2 Financial overview
      6.6.3 Business strategy
      6.6.4 SWOT analysis
      6.6.5 Recent developments
6.7 Perstorp Holding AB
      6.7.1 Company overview
      6.7.2 Financial overview
      6.7.3 Business strategy
      6.7.4 SWOT analysis
      6.7.5 Recent developments
6.8 Prathista Industries Ltd
      6.8.1 Company overview
      6.8.2 Business strategy
      6.8.3 SWOT analysis
      6.8.4 Recent developments
6.9 The Dow Chemical Company
      6.9.1 Company overview
      6.9.2 Financial overview
      6.9.3 Business strategy
      6.9.4 SWOT analysis
      6.9.5 Recent developments

List of Figures

FIG. 1 Global propionic acid : Market segmentation
FIG. 2 Global propionic acid market estimates and forecasts (2012–2019) (USD Million)
FIG. 3 Propionic acid Market: Value chain analysis
FIG. 4 Global food and feed preservative market revenue, (USD Billion), 2011 –2019
FIG. 5 Asia Pacific Thermoplastic demand (USD Billion) , 2005-2013
FIG. 6 Porter’s five forces analysis for propionic acid  market
FIG. 7 Global propionic acid market: Company market share analysis (2012)
FIG. 8 Global propionic acid market: Market attractiveness analyis
FIG. 9 Global propionic acid market volume share, by application, 2012 and 2019
FIG. 10 Global propionic acid market for animal feed and grain preservatives, 2012–2019(Kilo tons) (USD Million)
FIG. 11 Global market for calcium and sodium propionates, 2012–2019 (Kilo Tons) (USD Million)
FIG. 12 Global propionic acid market for cellulose acetate propionate, 2012–2019 (Kilo tons) (USD Million)
FIG. 13 Global propionic acid market for others, 2012–2019 (Kilo tons) (USD Million)
FIG. 14 Global propionic acid market volume share by region, 2012 and 2019
FIG. 15 North America propionic acid market, 2012–2019(Kilo tons) (USD Million)
FIG. 16 Europe propionic acid market, 2012–2019 (Kilo tons) (USD Million)
FIG. 17 Asia Pacific propionic acid market, 2012–2019(Kilo tons) (USD Million)
FIG. 18 RoW propionic acid market, 2012–2019(Kilo tons) (USD Million)

List of Tables

TABLE 1 Global propionic acid market snapshot, 2012 - 2019 
TABLE 2 Drivers of the global propionic acid market: Impact analysis 
TABLE 3 Resraints of global propionic acid market: Impact analysis 
TABLE 4 North America propionic acid market volume, 2012–2019 (Kilo tons), by application 
TABLE 5 North America propionic acid market revenue, 2012–2019 (USD Million), by application 
TABLE 6 Europe propionic acid market volume, 2012–2019 (Kilo tons), by application 
TABLE 7 Europe propionic acid market revenue , 2012–2019 (USD Million), by application 
TABLE 8 Asia Pacific propionic acid market volume, 2012–2019 (Kilo tons), by application 
TABLE 9 Asia Pacific propionic acid market revenue, 2012–2019 (USD Million), by application 
TABLE 10 RoW propionic acid market volume, 2012–2019 (Kilo tons), by application 
TABLE 11 RoW propionic acid market revenue, 2012–2019 (USD Million), by application 

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Free Market Analysis


Propionic acid (CH3CH2COOH) is a naturally occurring carboxylic acid. It is a colorless oily liquid with pungent odor. Propionic acid is miscible in water. It is used to manufacture a number of salts and esters, and flavoring agents. It is also used in food. Propionic acid is used mainly as a preservative for both animal feed and food for humans. Its primary function is to inhibit the growth of bacteria and molds that thrive on crops and agricultural yields. 

Increasing demand from animal feed and grain preservative sectors is expected to be a key driving factor for the propionic acid market. Furthermore, rising demand for flavoring agents from end-use industries due to growth in food industry, and from plastic industry for thermoplastics is anticipated to boost the market for propionic acid. Environmental concerns regarding the role of herbicides in air and water pollution may hamper demand for propionic acid. Furthermore, the adverse effect on human health, including genetic changes, tumors and skin irritation, is estimated to be a restraint for the propionic acid market.

Propionic acid is used in host of applications in various industries including pharmaceutical industry. Rising demand from the pharmaceutical industry in production of solvents and non-steroidal anti-inflammatory drugs is expected to fuel demand for propionic acid globally. Increasing demand for Vitamin E to improve the quality of poultry feed and as key ingredient to manufacture skin creams, hairspray and other personal care products is expected to open up opportunities for the propionic acid market in the near future .

Propionic acid is primarily used to control the growth of fungi and bacteria in stored hay, grains, poultry litter among others. The major applications of propionic acid include animal feed and grain preservatives, Cellulose Acetate Propionate (CAP), calcium and sodium propionates and herbicides among others. Animal feed and grain preservatives protect feed and grains from bacteria and molds. CAP is a free flowing, low odor powder that has its applications in printing inks and personal care products. CAP application segment accounted for around 9% of the total revenue generated by the propionic acid market in 2012. 

Europe is the largest market growing at a CAGR of 2.1% in terms of volume from 2013 to 2019. The ban imposed on antibiotic and few other applications increased demand for propionic acid in Europe. However, the market is anticipated to experience steady growth in the near future as emerging economies are contributing to rising demand for propionic acid. Europe was followed by North America with 29.8% of the total propionic acid volume consumed in 2012. Emerging economies are expected to fuel the demand for propionic acid owing to growth trends in end use industries. However, Asia Pacific is expected to be the fastest growing market at a CAGR of 2.9% in terms of volume demand from 2013 to 2019.

The major players producing propionic acid include, BASF SE, The Dow Chemical Company, Perstorp Holding GmbH, Biomin Holdings GmbH and Eastman Chemical Company among others. These manufacturers exhibit high level of integration across value chain of propionic acid and are engaged in the manufacturing of propionic acid as well as it raw materials. This helps them overcome the dependence on other companies for raw materials. Some propionic acid manufacturers are forward integrated as well and supply propionic acid and products to various end-user industries. Most of the companies distribute their products through their own distribution network and few companies avail services of third party distributors and supply contracts.

global-propionic-acid-market-volume-share-by-application-2013-and-2019
 

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