Albany, New York (PRWEB) June 18, 2014
According to a new market report published by Transparency Market Research "Propionic Acid Market for Animal Feed & Grain Preservatives, Calcium & Sodium Propionates, Cellulose Acetate Propionate and Other Applications - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019", the global propionic acid market was valued at USD 908.0 million in 2012 and is expected to reach USD 1,540.5 million by 2019, growing at a CAGR of 7.7% over the forecast period from 2013 to 2019. In terms of volume, the market was valued at 381.7 kilo tons in 2012 and is expected to grow at a CAGR of 2.3% over the forecast period from 2013 to 2019.
Browse Propionic Acid Market Report with Full TOC: http://www.transparencymarketresearch.com/propionic-acid-market.html
Growing global food and beverage industry is expected to fuel the preservatives market which in turn is expected to drive the global propionic acid market. Rising demand from end-use industries in emerging economies such as Asia Pacific provides huge potential for growth in the propionic acid market. Moreover, the growing pharmaceutical industry has been contributing to the growth of the market. Additionally, increasing demand for Vitamin E is expected to create opportunities for the propionic acid market in the near future. However, market growth may be hampered during the forecast period due to adverse effects of propionic acid on human health and environment.
Animal feed and grain preservatives led the market with 52.5% of global demand in 2012. Calcium and sodium propionates accounted for second largest application segment of the global propionic acid demand in 2012. Cellulose Acetate Propionate (CAP) is anticipated to grow steadily at a CAGR of 1.9% from 2013 to 2019.
For further inquiries, ask here: http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=2269
The global propionic acid market was led by Europe with 39.9% market share in 2012. Europe is expected to show steady growth in the near future as compared to other emerging economies. North America followed Europe and is expected to experience slight decline in its market share by 2019. Asia Pacific is expected to be fastest growing segment during the forecast period.
Related & Recently Published Reports by Transparency Market Research
Polypropylene Market: http://www.transparencymarketresearch.com/polypropylene-market.html
Permanent Magnets Market: http://www.transparencymarketresearch.com/permanent-magnet-market.html
Key market players include BASF SE, the Dow Chemical Company, Perstorp Holding GmbH and Eastman Chemical Company. The market for propionic acid is highly concentrated, with the top three players accounted for more than 80% of the global market in 2013.
The report segments the global propionic acid market as,
Propionic Acid Market - Regional Segment Analysis,