Global Propionic Acid Market 2017-2021
About Propionic Acid
Propionic acid is a colorless and oily liquid and has an unpleasant and pungent smell. It is completely miscible with water and can also be separated from water by adding salts. It contains a carboxylic acid group and shows properties similar to carboxylic acid such as the formation of esters, amides, anhydrides, and chloride derivatives. Salts, esters, and anions of propionic acid are known as propionates. In industrial and commercial applications, widely used propionates are sodium propionates and calcium propionates.
Technavio’s analysts forecast the global propionic acid market to grow at a CAGR of 2.95% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global propionic acid market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Propionic Acid Market 2017-2021
Technavio recognizes the following companies as the key players in the global propionic acid market: BASF, The Dow Chemical Company, Eastman Chemical Company, Perstorp, and Macco Organiques.
Other Prominent Vendors in the market are: ADDCON, A.M Food Chemical, BIOMIN Holding, Daicel, Hawkins, KEMIN Industries, Krishna Chemicals, Niacet, OXEA, and Penta Manufacturing Company.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Growing consumption of processed and packaged food products. The demand for processed food items and packaged foods is increasing due to the changing life style and rise in the disposable income of individuals. Sodium propionate and calcium propionate is widely used as a preservative and additive in processed and packaged foods to improve the shelf-life of the products. They reduce the storage cost and material handling cost. Calcium propionate is widely used in processed food items such as meat, bacon, bakery products, bread, pie crust, and cheese cakes.”
According to the report, one of the major drivers for this market is Propionic acid in food preservation. Propionic acid is widely used as a preservative in animal feedstock as well as foods for human consumption. It is used as a food preservative in food grains, animal feedstock, frozen food items, and packaged food products to increase the shelf life of the product. The growing demand from the frozen food industry, as well as the pharmaceutical industry, is increasing the consumption of propionic acid globally. Over 50% of the global consumption of propionic acid is in the production of preservatives.
Further, the report states that one of the major factors hindering the growth of this market is Health hazards due to direct exposure. Propionic acid is generally recommended to be a safe product to be used as a food additive, preservative, and a flavoring agent. However, excessive exposure to concentrated propionic acid is hazardous to health as it causes skin irritation and vision impairment and also damages tissues. Direct eye contact with propionic acid causes corneal injury, irritation, and vision impairment, which can result in complete blindness. Even the long-term exposure to propionic acid vapors can cause irritation and redness of eyes.
BASF, The Dow Chemical Company, Eastman Chemical Company, Perstorp, Macco Organiques, ADDCON, A.M Food Chemical, BIOMIN Holding, Daicel, Hawkins, KEMIN Industries, Krishna Chemicals, Niacet, OXEA, and Penta Manufacturing Company.
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