Propionic Acid Market Size worth $1,608.8 Million by 2018
The Global "Propionic Acid & Derivatives Market By Applications (Animal Feed & Grain Preservatives, Food Preservatives, Herbicides, Cellulose Acetate Propionate) & Geography – Global Trends & Forecasts To 2018”, defines and segments the global propionic acid market with an analysis and forecasting of the global consumption volume.
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The current worth of the global Propionic Acid & Derivatives Market (2012) is $944.6 million and is estimated to reach $1,622.2 million by 2018, growing at a CAGR of 7.8% from 2013 to 2018.
The global Propionic Acid & Derivatives Market is currently dominated by North America and Europe. The demand from the feed & grain preservatives, and food preservatives segments fuelled the growth in these regions. In the coming few years, demand from the emerging countries is likely to increase on the back of rising awareness about the benefits of propionic acid & derivatives for feed and food preservatives.
Propionic Acid & Derivatives application as preservatives has increased tremendously, as it is considered as one of the best and safest mold and bacteria inhibitor in the animal feed and grain preservative segment. The propionic acid & derivatives demand as preservatives will continue to grow from the developed and emerging markets. However, developing markets demand for propionic acid & derivatives will register higher growth compared with the developed markets in the coming five years.
Europe is the largest region, both in terms of volume and value, followed by North America, Asia-Pacific, and Rest of World. The U.S., China, France, Spain, Germany, Italy, and U.K. are likely to remain major markets for Propionic Acid & Derivatives.
We have profiled leading manufacturers of this industry with their recent developments and other strategic industry activities. These include: BASF SE (Germany), The Dow Chemical Company (U.S.), Perstorp (Sweden), Eastman Chemical (U.S.), Niacet Corporation (U.S.), etc.
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