Propionic Acid Market Size to Grow by 86.21 Th MT through 2021-2025 | Forecast and Trend Analysis

Technavio has been monitoring the propionic acid market and it is expected to grow by 86.21 Th MT, accelerating at a CAGR of almost 3.20% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking

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Propionic Acid Market: Emerging Trends to Impact Market Growth

Growth by the animal feed and grain preservatives segment has been significant and is expected to offer further growth opportunites during the forecast period. North America has been recording a good growth rate owing to diversified applications of propionic acid in the region. This report provides a detailed analysis of all the trends that are likely to influence the growth of individual segments within the market as well as the overall market in focus. This analysis will enable clients to assess their play in the market and plan for growth opportunities.

Propionic Acid Market: Vendor Analysis

The market is fragmented due to the presence of several players. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. BASF SE, Corbion NV, Daicel Corp., Dow Inc., Eastman Chemical Co., Koninklijke DSM NV, Macco Organiques s.r.o., OQ Chemicals GmbH, Otto Chemie Pvt. Ltd., and Perstorp Holding AB are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.

Technavio custom reports provide market insights at the global and regional level along with a pipeline analysis of new product launches. It also provides a peek into the latest R&D along with an impact analysis of government regulations.

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The report provides insights into the following FAQs:

1. What is the market CAGR?
   The market is accelerate at a CAGR of 3.20%.
    
2. What is the incremental growth of the market?
   The market is expected to grow by 86.21 th MT through 2021-2025.
    
3. What is a key factor driving this market?
   Propionic acid in food preservation will drive market growth over the forecast period.
    
4. What are the key regions covered in this market research report?
   Europe, North America, APAC, South America, and MEA are the key regions featured in this research report.
    
5. Which is the leading geographic region for this market:
   32% growth will originate from North America
    
6. Who are the leading market vendors?
   The leading vendors in this market are BASF SE, Corbion NV, Daicel Corp., Dow Inc., Eastman Chemical Co., Koninklijke DSM NV, Macco Organiques s.r.o., OQ Chemicals GmbH, Otto Chemie Pvt. Ltd., and Perstorp Holding AB
    
7. What are the market segments covered in this report?
   The market is segmented by Application (Animal feed and grain preservatives, Sodium and calcium propionate, CAP, and Others) and Geography (Europe, North America, APAC, South America, and MEA)