Propionic Acid Market Overview:
The Propionic Acid Market research provides a comprehensive insight into the competition, including the market share and company profiles of the world’s biggest rivals. The research scope covers a comprehensive examination of the Propionic Acid Market, as well as the causes for variances in the industry’s growth across a variety of sectors.
Propionic Acid Market is expected to grow at a CAGR of 6.5% during the forecast period. Global Propionic Acid Market is expected to reach US$ 2.63 Bn by 2029.
Market Scope:
Top-down and bottom-up approaches are used to validate market size and estimate market size by segment. The market estimations in the research are based on the sale price (excluding any discounts provided by the manufacturer, distributor, wholesaler, or traders). Weights based on usage rate and average sale price are applied to each area to generate percentage splits, market shares, and segment breakdowns. The country-wise divisions of the overall market and its sub-segments are determined by the percentage adoption or usage of the specified market Size in the relevant area or nation.
Segmentation:
Propionic acid is a colorless fluid with pungent odor. It is miscible with water and few organic solvents and is also called as ethanecarboxylic acid, carboxylic acid, carboxyethane, ethylformic acid, etc. Propionic acid is a naturally occurring substance which is exist in the form of esters in essential oils. Key crude materials used for the production of propionic acid are carbon monoxide and ethylene. It can be commercially acquired by hydrocarboxylation of ethylene in the existence of nickel carbonyl as a catalyst. It has been proved that PA lowers fatty acids content in liver and plasma, decreases food intake, uses immunosuppressive actions and probably increases tissue insulin sensitivity. Propionic acid is a vapor explosion threat. Vapors are heavier than air and may extended and ignition or flashback may occur. Propionic acid is stable under storage Condition.
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Key Players:
• BASF SE
• DowDuPont
• Perstorp Orgnr
• Eastman Chemical Company
• Macco Organiques Inc.
• Krishna Chemicals
• A.M. Food Chemical Co., Ltd.
• Merck KGaA
• OXEA GmbH
• Perstorp
• Biomin Holdings GmbH.
• DAICEL CORPORATION
• Hawkins, Inc.
• Corbion N.V.
• Otto Chemie Pvt. Ltd.
• Oman Oil Company SAOC
• Celanese Corporation
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Primary and secondary research is used to identify market leaders, and primary and secondary research are used to calculate market revenue. In-depth interviews with important thought leaders and industry professionals such as experienced front-line staff, CEOs, and markePropionic Acidg executives were conducted as part of the primary study. Primary research comprised in-depth interviews with key thought leaders and industry professionals such as experienced front-line staff, CEOs, and markePropionic Acidg executives, while secondary research included a review of the main manufacturers’ annual and financial reports. Secondary data is used to determine percentage splits, market shares, growth rates, and worldwide market breakdowns, which are then cross-checked with primary data.
The biggest players in the Propionic Acid market are as follows:
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Regional Analysis:
Individual market influencing components and changes in market laws impacPropionic Acidg current and future market trends are also covered in the Propionic Acid market analysis regional overview. Current and future trends are studied in order to evaluate the overall market potential and find profitable patterns in order to get a firmer fooPropionic Acidg. The geographical market evaluation is based on the current environment and anticipated trends.
COVID-19 Impact Analysis on Propionic Acid Market:
End-user industries where Propionic Acid are utilized saw a drop in growth from January 2020 to May 2020 in a number of countries, including China, Italy, Germany, the United Kingdom, and the United States, as well as Spain, France, and India, due to a halt in operations. This resulted in a significant decrease in the revenues of enterprises in these industries, as well as in demand for Propionic Acid manufacturers, harming the Propionic Acid market’s growth in 2020. End-user business demand for Propionic Acid has decreased as a result of lockdowns and an increase in COVID-19 occurrences throughout the world.
Key Questions Answered in the Propionic Acid Market Report are:
- In 2021, which segment accounted for the most share of the Propionic Acid market?
- What is the competitive landscape of the Propionic Acid market?
- What are the key factors influencing Propionic Acid market growth?
- In the Propionic Acid market, which region has the most market share?
- What will be the CAGR of the Propionic Acid market during the forecast period (2022-2027)?
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