[CAGR of 3.5%] Fresh Study Reveals the Propionic Acid Market Value To Cross USD 1.6 Billion By 2026

Propionic acid market is anticipated to generate $1.6 billion by 2026. The market is projected to experience growth at a CAGR of 3.5% from 2019 to 2026

WILMINGTON, DE, UNITED STATES, December 3, 2024 /EINPresswire.com/ -- The propionic acid market study examines the revenue potential growth while analyzing regional trends. It also provides qualitative insights based on various parameters, including the sector size's immediate impact, economic effects, regulatory frameworks, opportunities, and strategies adopted by key players. The research comprises a company profile section, detailing key executives, company overview, operational segments, product/service portfolio, R&D investments, significant strategic initiatives and developments, and business performance.

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Furthermore, the report provides detailed statistics on the drivers, restraints, and opportunities that directly influence the market. It also emphasizes evaluating the market scope across four key regions: Asia-Pacific, Europe, North America, and LAMEA. In summary, the report is designed to offer readers a thorough assessment of industry analysis and trends. A report published by Allied Market Research states that the propionic acid market is expected to register an impressive CAGR of 3.5% with net revenue of $1,6 billion by 2026.

Market dynamics
The global propionic acid market is driven by its growing use in the food and beverage industry as a preservative and for packaging ready-to-eat food, along with increasing demand for safe animal feed. However, potential adverse effects on human health and concerns over its use in herbicides challenge market growth. Conversely, using propionate esters as solvents and propionic acid as antibiotics presents promising opportunities in the coming years.

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Industry highlights
In February 2024, Inabata & Co., Ltd. and Daicel Corporation entered into a joint venture agreement to establish Novacel Co., Ltd. This initiative aligns with Daicel's "Accelerate 2025" strategy, aimed at transforming its business structure and advancing engineering plastics. The partnership seeks to combine Daicel's expertise in resin technology with Inabata's manufacturing capabilities to drive market innovation and collaboration.

In October 2022, BASF began offering propionic acid (PA) and neopentyl glycol (NPG) with a zero-carbon footprint. These products, manufactured at BASF's Ludwigshafen Verbund site in Germany, are now available globally.

Competitor’s analysis

Competitive analysis in the report enables businesses to identify both direct and indirect competitors, helping them strategically position themselves in the market. It also aids in recognizing potential threats from new entrants or alternative solutions, ensuring proactive decision-making. This analysis enables businesses to compare their product features with those of competitors, helping to identify unique selling propositions (USPs). This insight informs decisions on product improvements and the development of new features to maintain a competitive edge.

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Leading entities profiled in the report are:

BASF SE
Eastman Chemical Company
Celanese Corporation
Hawkins, Inc.
CORBION N.V
Oman Oil Company SAOC
Otto Chemie Pvt. Ltd.
Perstorp Holding AB
Dow Inc.
Merck KGaA

Trend assessment

Trend analysis offers valuable insights into customer behaviors, preferences, and purchasing patterns. This knowledge is essential for crafting customer-centric strategies that boost engagement and satisfaction.

The increasing use of agro-industrial by-products like whey and corn-step liquor for propionic acid production is gaining momentum. These renewable materials help minimize waste and offer an environment-friendly alternative to the conventional petrochemical methods traditionally employed for propionic acid synthesis.

Advancements in genetic engineering have led to the creation of strains with optimized metabolic pathways for trehalose synthesis, enhancing acid tolerance and overall production efficiency. By modifying specific genes in P. acidipropionici, researchers have improved the organism’s resistance to acidic environments, resulting in higher propionic acid yields during fermentation.

To conclude, the AMR report delivers a comprehensive analysis of the propionic acid industry, addressing all key aspects of the sector. It provides in-depth insights into the strategies employed by multinational companies in this market. In addition, the report includes interviews with stakeholders and market participants, offering valuable guidance for newcomers aiming to understand the industry's evolving dynamics.

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About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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Allied Market Research
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