Asia-Pacific Propionic Acid & Derivatives Market By Product (Propionic Acid, Derivatives), Grade (Industrial Grade/Technical Grade, Food Grade, Feed Grade, Pharma Grade), Form (Dry, Liquid), Type (Encapsulated, Non-Encapsulated), Source (Natural, Synthetic), Application (Food & Beverage, Feed, Pharmaceuticals, Cosmetics, Home & Personal Care, Agriculture, Industrial and others), Country (China, Japan, India, Australia, South Korea, Thailand, Singapore, Indonesia, Malaysia, Philippines, Rest of Asia-Pacific) Industry Trends and Forecast to 2027
Market Analysis and Insights: Asia-Pacific Propionic Acid and Derivatives Market
Asia-Pacific propionic acid & derivatives market is expected to gain market growth in the forecast period of 2020 to 2027. Data Bridge Market Research analyses that the market is growing with the CAGR of 7.7% in the forecast period of 2020 to 2027 and is expected to reach USD 609,208.68 thousand by 2027. The rising demand from feed and food preservative manufacturers is leading the growth of the propionic acid & derivatives market.
The use of propionic acid is increasing in various applications such as in feed preservatives, food preservatives and many others. Also, if they are used in an appropriate proportion, they can increase the feed intake in animals. So, the propionic acid and its derivatives have less side effects and it is safe for use in various applications and acting as driving factor for the propionic acid & derivatives market. The increasing demand for propionic acid in various applications is increasing the prices of propionic acid and its derivatives. Hence, it can act as a restraining factor for the propionic acid & derivatives market.
The propionic acid helps in the prevention of animal feed from mold and other bacteria’s and thus helps in promoting the growth in animals by increasing the quality of feed. Hence, it can be the great opportunity for propionic acid producers in the propionic acid & derivatives market. The health hazards related to the propionic acid are very dangerous and in a severe case, it can lead to the death of the person as well. Hence, this can be a challenge for propionic acid manufacturers in the propionic acid & derivatives market.
This propionic acid & derivatives market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographical expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
Asia-Pacific Propionic Acid & Derivatives Market Scope and Market Size
The propionic acid & derivatives market is segmented into six notable segments which are based on product, grade, form, type, source, and application. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of product, the propionic acid & derivatives market is segmented into propionic acid and derivatives. In 2020, propionic acid segment has the largest market share owing to factors such as the increasing applications of propionic acid in various industries.
- On the basis of grade, the propionic acid & derivatives market is segmented into industrial grade/technical grade, food grade, feed grade and pharma grade. In 2020, feed grade segment dominated the propionic acid & derivatives market owing to factors such as the increased use of propionic acid in feeds due to the property of propionic acid which acts as a mold inhibitor in the feed products.
- On the basis of form, the propionic acid & derivatives market is segmented into dry and liquid. In 2020, liquid segment holds the largest market share owing to the less corrosive nature of liquid propionic acid.
- On the basis of type, the propionic acid & derivatives market is segmented into encapsulated and non-encapsulated. In 2020, non-encapsulated segment dominated the propionic acid & derivatives markets because it is easy to use in various products such as in animal feed products and most of the manufacturers are manufacturing non-encapsulated propionic acid.
- On the basis of source, the propionic acid & derivatives market is segmented into natural and synthetic. In 2020, natural segment dominated the propionic acid & derivatives market because natural sources are available in larger proportion than synthetic sources and they are not harmful for the nature as well.
- On the basis of application, the propionic acid & derivatives market is segmented into food & beverage, feed, pharmaceuticals, cosmetics, home & personal care, agriculture, industrial and others. In 2020, feed segment dominated the propionic acid & derivatives market because of increasing manufacturers for animal feed grade propionic acid due to the increasing use of propionic acid in feed products because of their benefits such as mold inhibitor.
Propionic Acid & Derivatives Market Country Level Analysis
Global propionic acid & derivatives market is analysed and market size information is provided by country, product, grade, form, type, source and application as referenced above.
The countries covered in the propionic acid & derivatives market report are China, Japan, India, Australia, South Korea, Thailand, Singapore, Indonesia, Malaysia, Philippines and rest of Asia-Pacific.
China is dominating the market as the production and consumption of the propionic acid and derivatives are high. Manufacturer of feed, food and other industries are highly consuming it for the preservation purposes. However, India may grow in future as population is increasing which is demanding for more food and feed.
The country section of the propionic acid & derivatives market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Growth in the Propionic Acid & Derivatives industry
Asia-Pacific propionic acid & derivatives market also provides you with detailed market analysis for every country growth in installed base of different kind of products for propionic acid & derivatives market, impact of technology using life line curves and changes in infant formula regulatory scenarios and their impact on the propionic acid & derivatives market. The data is available for historic period 2010 to 2018.
Competitive Landscape and Propionic Acid & Derivatives Market Share Analysis
Asia-Pacific propionic acid & derivatives market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, company strengths and weaknesses, product launch, clinical trials pipelines, brand analysis, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to propionic acid & derivatives market.
The major players covered in the report are Kemin Industries, Inc., A.M FOOD CHEMICAL CO., LIMITED., Biomin, Niacet, Impextraco NV, Finoric LLC, Eastman Chemical Company, Perstorp, NOVUS INTERNATIONAL, BASF SE, Spectrum Chemical Manufacturing Corp., Celanese Corporation, Dow, Krishna Chemicals, Daicel Corporation and others. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
For instance,
- 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.
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