Pacific Propionic Acid Market

The Asia Pacific Propionic Acid market size was valued at US$ 312.8 million in 2024 and is projected to reach US$ 418.6 million by 2030, at a CAGR of 5.0% during the forecast period 2024-2030.

Propionic acid is a naturally occurring carboxylic acid used as a preservative in animal feed and food products, and as a chemical intermediate in the production of various compounds including plastics, herbicides, and pharmaceuticals.
The Asia Pacific propionic acid market is growing steadily, driven by increasing demand for food preservatives and animal feed additives. China accounts for 40% of the market, followed by Japan at 20% and India at 15%. In 2023, the animal feed industry consumed 50% of total production, with food preservatives at 30% and chemical intermediates at 15%. The market experienced an 8% growth in demand from the bakery sector for mold inhibitors. Key players include BASF SE (Germany) and Eastman Chemical Company (USA), collectively holding a 45% market share in the region. The industry is investing in bio-based production methods, with a 12% increase in R&D spending on fermentation-derived propionic acid in 2023. Challenges include fluctuating raw material prices, leading to a 5% volatility in production costs. The trend towards natural preservatives has driven a 10% increase in propionic acid demand for clean label food products. The market is benefiting from the expansion of the livestock industry in countries like Vietnam and Indonesia, with a 15% rise in propionic acid use in animal feed preservation.

Report Includes

Pacific Propionic Acid Market is an essential reference for who looks for detailed information on Asia Pacific Propionic Acid. The report covers data on Asia Pacific markets including historical and future trends for supply, market size, prices, trading, competition and value chain as well as Asia Pacific major vendors¡¯ information. In addition to the data part, the report also provides overview of Propionic Acid, including classification, application, manufacturing technology, industry chain analysis and latest market dynamics. Finally, a customization report in order to meet user's requirements is also available.

Pacific Propionic Acid Market aims to provide a comprehensive presentation of the Asia Pacific Propionic Acid, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Propionic Acid. Pacific Propionic Acid Market contains market size and forecasts of Propionic Acid in Asia Pacific, including the following market information:
We surveyed the Propionic Acid manufacturers, suppliers, distributors and industry experts on this industry, involving the sales, revenue, demand, price change, product type, recent development and plan, industry trends, drivers, challenges, obstacles, and potential risks.

Total Market by Segment:

by Country

• China
• India
• Japan
• South Korea
• Australia
• Thailand
• Indonesia

by Products type:

• Oxo Process
• Reppe Process
• By-product Process

by Application:

Grain and Feed Preservatives
Calcium and Sodium Salts
Herbicides
Cellulose Acetate Propionate
Others

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key players include: (At least 8-10 companies included)

• Niacet
• The Dow Chemical Company
• Perstorp
• Mitsubishi Chemical Corporation
• Eastman Chemical Company
• A.M. Food Chemical Co. Ltd.
• Shanghai Jianyuan Chemical Co.
• Yancheng Huade Biological Engineering Co., Ltd.
• Daicel Corporation
• Celanese Corporation
• Including or excluding key companies relevant to your analysis.

Competitor Analysis

The report also provides analysis of leading market participants including:

• Key companies Propionic Acid revenues in Asia Pacific market, 2019-2024 (Estimated), ($ millions)
• Key companies Propionic Acid revenues share in Asia Pacific market, 2023 (%)
• Key companies Propionic Acid sales in Asia Pacific market, 2019-2024 (Estimated),
• Key companies Propionic Acid sales share in Asia Pacific market, 2023 (%)

FAQs — Asia Pacific Propionic Acid Market 2024-2030

Q1: What was the size of the Asia Pacific Propionic Acid market in 2024?

• A: The market was valued at USD 312.8 million in 2024.

Q2: What is the projected market size of the Asia Pacific Propionic Acid market by 2030?

• A: It is expected to reach USD 418.6 million by 2030.

Q3: What is the CAGR for the Asia Pacific Propionic Acid market from 2024 to 2030?

• A: The market is forecasted to grow at a CAGR of 5.0% during this period.

Q4: What are the key drivers for the growth of the Asia Pacific Propionic Acid market?

• A: Growing demand from the food preservative industry, expanding applications in animal feed, and increasing use in pharmaceuticals drive market growth.

Q5: Which countries are major contributors to the Asia Pacific Propionic Acid market?

• A: China, India, Japan, and South Korea are significant markets due to their large industrial base and rising demand.

Key Points of this Report:

• The depth industry chain includes analysis value chain analysis, porter five forces model analysis and cost structure analysis
• The report covers Asia Pacific and country-wise market of Propionic Acid
• It describes present situation, historical background and future forecast
• Comprehensive data showing Propionic Acid capacities, production, consumption, trade statistics, and prices in the recent years are provided
• The report indicates a wealth of information on Propionic Acid manufacturers
• Propionic Acid forecast for next five years, including market volumes and prices is also provided
• Raw Material Supply and Downstream Consumer Information is also included
• Any other user's requirements which is feasible for us

Reasons to Purchase this Report:

• Analyzing the outlook of the market with the recent trends and SWOT analysis
• Market dynamics scenario, along with growth opportunities of the market in the years to come
• Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects
• Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
• Market value (USD Million) and volume (Units Million) data for each segment and sub-segment
• Distribution Channel sales Analysis by Value
• Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
• Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
• 1-year analyst support, along with the data support in excel format.