Revenue in the global propionic acid market is estimated to have reached a value of $944.6 million by the end of 2012 and is forecast to grow to a total of $1,622.2 million by 2018. This suggests a CAGR growth rate of around 7.3% between 2013 and 2018. Europe dominated the global propionic acid & derivatives market in 2012. Emerging markets are likely to fuel the future growth of propionic acid & derivatives.
Europe is the largest region, both in terms of volume and value, followed by North America, Asia-Pacific, and Rest of World. The U.S., China, France, Spain, Germany, Italy, and U.K. are likely to remain major markets for propionic acid & derivatives. The major players of propionic acid & derivatives include BASF SE (Germany), The Dow Chemical Company (U.S.), Perstorp (Sweden), Eastman Chemical (U.S.), and Macco Organiques Inc. (Canada).
The growing demand of safe feed & grain preservatives would fuel the future growth of the propionic acid & derivatives market. In addition, the changing lifestyle has led to rising demand to increase the shelf life of food products which will boost the food preservatives demand, including propionates.
The propionic acid & derivatives demand in terms of value and volume depicts current and future projections according to the parallel economic and industrial outlook. This analysis covers major developments, expansions, agreements, and mergers & acquisitions of leading global companies.
For more information on the Global propionic acid market, please click here: Global propionic acid market
Find us on Twitter @CandMResearch
Companiesandmarkets.com issues news updates and report summaries covering all major industries and sectors. The service provides additional client monitoring and timely alerts to breaking industry and sector news leading the day's business headlines. News articles, written by our staff, contain additional analyst insight, providing value added insight for our readers. News updates and real-time alerts on newly-released market reports are also available from our Facebook page, Twitter feed @CandMResearch and RSS links. We also welcome inquiries from business journalists and the news media.