North America Propionic Acid and Derivatives Market is forecasted to grow at 6.1% with factors such as rising demand from feed and food preservative manufacturer across the world is propelling the growth of the North America propionic acid and derivatives market.
The major factor boosting the growth of the propionic acid and derivatives market is the increasing demand for the preservatives in the products to increase the self-life of the of product for the long period of time. Preservatives help to keep food fresher for longer time periods by extending its shelf life. Food preservatives used to slower down prevent or changes in colour, flavour, or delay rancidity and texture. Propionic acid is more efficient in the control of fungi than in bacteria. It has virtually no effect in the presence of yeast. It is used commonly as a preservative in various types of pre-packed bakery products and bread pre-packed, which is being an efficient inhibitor of mold. However, high cost prices may affect the market growth.
North America Propionic Acid and Derivatives Market Scenario
According to Data Bridge Market Research the market for North America propionic acid and derivatives market, the Mexico is dominating. In this market, BASF SA has the largest market share of approximately 20% to 25%. In recent time, BASF SA is playing major role by providing propionic acid and derivatives in market and they are helping various food, feed and others manufacturers to fulfil consumer need in food sector.
The company operates in different segments and they are chemicals, materials, industrial solutions, surface technologies, nutrition & care, agricultural solutions, and others. The company has strong presence around the world. The company has taken various strategic decisions for enhancement of business.
- 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.
Trends impacting the market
Now the question is which other regions BASF SE, Dow and Eastman Chemical Company are targeting? Data Bridge Market Research has estimated a large growth in the U.S. propionic acid and derivatives market and the market leaders targeting Canada and Mexico to be their next revenue pockets for 2020.
The North America propionic acid and derivatives market is becoming more competitive every year with companies such as BASF SE, Dow and Eastman Chemical Company for propionic acid and derivatives. Data Bridge Market Research new reports highlight the major growth factors and opportunities in the propionic acid and derivatives market.
For more analysis on the North America propionic acid and derivatives market request for a briefing with our analysts https://www.databridgemarketresearch.com/reports/North America -propionic-acid-and-derivatives-market
North America Propionic Acid and Derivatives Market Developments
- In July 2020, Kemin Industries Inc. has acquired the U.S. patent application for a method to control African swine fever virus (ASFv) in feed ingredients and feed using Sal CURB Liquid Antimicrobial. Sal CURB Liquid Antimicrobial is a North America pathogen control product manufactured by Kemin. This has helped the company to broaden its portfolio in the propionic acids.
- In May 2019, Celanese Corporation has announced that Scott Richardson who is a senior vice president and chief financial officer, has attended the Deutsche Bank North America Industrials and Materials Summit in Chicago on Thursday, June 6, 2019, at 12:00 p.m. Central time. With this, the company has enhanced its brand image in the market.
Scope of the North America Propionic Acid and Derivatives Market
All analysis of the North America propionic acid and derivatives market is further analyzed based on maximum granularity into further segmentation. On the basis of product, the North America propionic acid and derivatives market is segmented into propionic acid, and derivatives. On the basis of grade, the North America propionic acid and derivatives market is segmented into industrial grade/technical grade, food grade, feed grade, and pharma grade. On the basis of form, the North America propionic acid and derivatives market is segmented into dry, liquid. On the basis of type, the North America propionic acid and derivatives market is segmented into encapsulated, non-encapsulated. On the basis of source, the North America propionic acid and derivatives market is segmented into natural, synthetic. On the basis of application, the North America propionic acid and derivatives market is segmented into food & beverages, feed, pharmaceuticals, cosmetics, home & personal care, agriculture, industrial and others.
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Key Pointers Covered in the North America Propionic Acid and Derivatives Market Industry Trends and Forecast to 2027
- Market Size
- Propionic acid and Derivatives Regulatory Framework and Changes
- Recent Developments for Market Competitors
- Sales data for Market Competitors
- Key vendors and disruptors study
- Supply Chain Competiveness
Key Market Competitors Covered in the North America Propionic Acid and Derivatives Market Report
- EASTMAN CHEMICAL COMPANY
- Kemin Industries, Inc.
- A.M FOOD CHEMICAL CO., LIMITED.
- BASF SE
- Impextraco Nv
- Palital Feed Additives B.V.
- Macco Organiques Inc.
- Finoric Llc
- Spectrum Chemical Manufacturing Corp.
- Monarch Chemicals Ltd
- Celanese Corporation
- Cayman Chemical
- NOVUS INTERNATIONAL
- Trouw Nutrition USA, LLC.
- Daicel Corporation
- Krishna Chemicals
Above are the key players covered in the North America propionic acid and derivatives market report to know about more and exhaustive list of propionic acid and derivatives companies contact us https://www.databridgemarketresearch.com/reports/North America -propionic-acid-and-derivatives-market
Research Methodology: North America Propionic Acid and Derivatives Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
- Demand Side: Researchers, Food & Feed Specialists, Services Providers and many others.
- Supply Side: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, and Regulatory Affairs Managers among others.
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