Propionic Acid Market 2023 - 2030)_Sample Extract.pdf

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Topics Slide No Chapter 01: Propionic Acid Market Overview Chapter 01: Propionic Acid Market Overview - 004 Chapter 02: Propionic Acid Market Executive Summary Chapter 02: Propionic Acid Market Executive Summary - 007 Chapter 03: Propionic Acid Market Landscape Chapter 03: Propionic Acid Market Landscape - 011 Chapter 04: Propionic Acid Market Forces Chapter 04: Propionic Acid Market Forces - 020 Chapter 05: Propionic Acid Market - Strategic Analysis Chapter 05: Propionic Acid Market - Strategic Analysis - 029 Chapter 06: Propionic Acid Market - By Grade - 036 Chapter 07: Propionic Acid Market - By Packaging - 041 Chapter 08: Propionic Acid Market - By Application Chapter 08: Propionic Acid Market - By Application - 045 Chapter 09: Propionic Acid Market - By End Use Industry Chapter 09: Propionic Acid Market - By End Use Industry - 054 Chapter 10: Propionic Acid Market - By Geography Chapter 10: Propionic Acid Market - By Geography - 065 Chapter 11: Propionic Acid Market Entropy Copyright ©2024 IndustryARC - 100 Chapter 12: Propionic Acid Market Company Profiles Chapter 12: Propionic Acid Market Company Profiles - 102 Inquiry Before Buying +1 518 282 4727 sales@industryarc.com | Buy Now | |

Definition & Market Scope •Propionic acid is a colorless liquid with a pungent scent, it is miscible in water and almost all normal organic solvents. It is used as a food preservative, plasticizer, coating additives, perfume, intermediates, solvents among other uses. The base year of the study is 2022, with a forecast done up to 2030. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. • The scope for propionic acid market is defined by Grade, Packaging Type, by Application, by End Use Industry and by Geography. • The market size is provided by revenue (US$ Million). Overview ❖Propionic acid is used by several industries such as food & beverage, agriculture, cosmetic & personal care, pharmaceutical, chemical, rubber and more. Propionic acid is mostly consumed by the food and beverage industry. It is widely used as a preservation for bakery products. The rising demand for natural preservatives from the food industry acts as a driver for the growth of the ❖ Copyright ©2024 IndustryARC propionic acid market. In addition, the trend of turing waste into valuable chemicals provides an opportunity for the market as research is ongoing in the field of industrial biotechnology to covert waste into propionic acid. ❖ Inquiry Before Buying +1 518 282 4727 Buy Now sales@industryarc.com| | |

Market Classification By Geography By Grade By Packaging By Application By End-Use Industry • North America •U.S Canada • Mexico • Food Grade • Drums • Commercial • Agriculture • •Technical Grade •Industrial Grade • Others • Bottless • Others •Food Preservative Agent • Plasticizers •Coating Additives • Perfumes • Intermediates • Solvents • Others •Food & Beverages •Dairy Items •Non-alcoholic Drinks •Processed Food •Grain Products • Others •Rubber Industry •Cosmetics & Personal Care • Pharmaceuticals •Chemical Industry • Others •South America • Brazil • Argentina • Chile • Colombia •Rest of South America • Europe • Germany • France •UK • Italy • Spain • Belgium •The Netherlands •Rest of Europe • APAC • China • Japan •South Korea • India •Australia & New Zealand • Indonesia Copyright ©2024 IndustryARC • Malaysia •Rest of APAC •RoW •Middle East • Africa Inquiry Before Buying +1 518 282 4727 sales@industryarc.com | Buy Now | |

Propionic Acid Market, 2022-2030 (US$M) 2,50 0.00 2,00 0.00 Revenue (US$ Million) 1,500.00 1,00 0.00 500.00 0.00 2022 2023 2024 2025 2026 2027 2028 2029 2030 ❖ The Propionic Acid Market is estimated to grow at a CAGR of 4.0% during the forecast period (2023-2030) and reac US$2,279.56 million by 2030, from around US$1,662.42 million in 2022. The increasing consumption of cosmetics an ❖ the growing demand for natural preservatives from the food industry are expected to propel the propionic acid marke forward. Propionic acid has antibacterial and mold-inhibiting properties, due to which it is used as a food preservative ❖ Additionally, it also finds application as an intermediate for rubber prodCuocptiyornig, hcto ©sm20e2ti4cs npdruosdturycAtsR Can d as a food preservative. Owing to its high applicability in these sectors coupled with the growth, the demand and usage of propionic acid is anticipated to benefit the market. Inquiry Before Buying +1 518 282 4727 sales@industryarc.com| | | Buy Now

Propionic Acid Market Revenue Share, By Grade, 2022 (%) Propionic Acid Market Revenue Share, By Packaging, 2022 (%) Propionic Acid Market Revenue Share, By Application, 2022 (%) Food Preservative Intermediate Plasticizers Perfumes Pesticides Coating Additives Solvents Others Food Grade Industrial Grade Drums Bottles Others Technical Grade Others ❖Food grade dominated the Propionic Acid Market with a market share of approximately 43% in 2022. Food grade propionic acid can be used to produce its salts, calcium propionate and sodium propionate which are commonly used as a preservative in breads, tortillas, cakes and cheeses. ❖ ❖ By packaging, drums dominated the Propionic Acid Market with a market shaCroep oyfr iagphpt r©ox2i0m2a4t eInlyd 6u Food preservation dominated the Propionic Acid Market with a market share of approximately 44% in 2022. According to Perstorp AB, more than half of the produced propionic acid is used for preservation of food. Inquiry Before Buying +1 518 282 4727 sales@industryarc.com | Buy Now | |

Reason for choosing food and beverages with natural ingredients High Demand for Natural Preservatives from the Food Industry ❖ There is high demand for natural food additives owing to consumer awareness. The demand for natural food additives in is increasing because of an increasingly health-conscious population. Consumers are looking for safe food with natural ingredients. According to a survey of 1,054 adults conducted in 2021 by the International Food Information Council, 40% of respondents seek out natural preservatives while only about one in 10 consumers buy food products with artificial preservatives. 26% consumers avoid chemical ingredients over health- related concerns as evident from the figure. Propionic acid is used as a preservative in baked goods. Bread products, particularly tortillas, gained like most food and beverage categories at retail due to the increase in at-home eating occasions during the pandemic, with 84% of U.S. households purchasing tortillas in 2021, according to B&G Foods Inc. Propionic acid inhibits the growth of mold and various bacteria and therefore is used in baked gooCdosp aynrdig hcht e©e2se0.24 IndustryARC Thus, the high demand for natural preservatives from the food industry drives the propionic acid market. ❖ ❖ To seek out health benefits To avoid possible harmful effects of artificial ingredients To avoid possible harmful effects of unfamiliar ingredients Awareness ❖ Nutrition Others ❖ Source: International Food Information Council Source: Main Capital Partners10 Inquiry Before Buying +1 518 282 4727 sales@industryarc.com | Buy Now | |

Increasing Consumption of Cosmetics ❖ Propionic acid is a safe and non-toxic skin brightening agent that can be used to minimize hyperpigmentation. The rising awareness of beauty products, increasing premium on ❖ Growth of Global Cosmetics Market (5%) 4.0 6.0 8.0 10.0 -10.0 -8.0 -6.0 -4.0 -2.0 0.0 2.0 2012 personal grooming, changes in consumption patterns and 2013 lifestyles and improved purchasing power among women are expected to boost the cosmetics industry. 2014 According to findings from The NPD Group’s Women’s Facial 2015 ❖ Skincare Consumer Report, 22% of women stated they have 2016 changed their skincare routine because of COVID-19. Most are washing or moisturizing their face more often than pre-pandemic. 2017 The growing shift of consumers toward skincare has increased the 2018 consumption of cosmetics. According to the annual report by cosmetic giant, L’Oréal, in 2021, 2019 ❖ the global sales of the company’s skincare products accounted for 41.8% of the beauty maCrokpeyt.right ©2024 IndustryARC 2020 2021 Thus, the increasing consumption of cosmetics drives the Source: , L’Oréal Annual Report 2021 ❖ propionic acid market. Inquiry Before Buying +1 518 282 4727 sales@industryarc.com | Buy Now | |

Propionic Acid Market Value Chain Transportation & Logistics Raw Materials Manufacturing End Consumer • • • • • • • Agriculture Food & Beverage Rubber Cosmetic & Personal Care Pharmaceutical Chemical Others ▪ ▪ ▪ ▪ ▪ Ethylene Propionaldehyde Naphtha Glycerol Agricultural waste • • • • Chemical Synthesis Fermentation Order Processing Warehousing Distribution • Copyright ©2024 IndustryARC Inquiry Before Buying +1 518 282 4727 sales@industryarc.com | Buy Now | |

❖ The value chain analysis deals with the comprehensive evaluation of each activity involved in the processing of an product and finally delivering it to the end users. Each stage across the value chain of the product or service associated with creating some sort of monetary value. The value chain of a product or service can offer the compan to examine every activity across the value chain and identify the steps where elimination or modification is essentia ❖ The value chain of propionic acid mentioned in the previous slide analyzes the major steps involved in the productio of propionic acid. Most of the companies initiate their integration into the value chain from procuring the raw materials, then manufacturing, and then finally distributing it to the end-use industries. There is an upsurge i ❖ demand for propionic acid by various end-use industries such as agriculture, food & beverage, rubber, cosmetics & personal care, pharmaceutical, chemical and others to match their needs. The value chain reflects the amalgamatio ❖ of primary and support activities to deliver the required products and services to the consumers. The primar activities generally include raw materials, manufacturing, product management, external management, an marketing while support activities comprise research, inventory management, and coordination of operations. Th propionic acid value chain dynamics are dependent on several factors considering the technical & economica ❖ feasibility. The involvement of different stakeholders like research institutes, government agencies, environmenta protection organizations, industry associations, and consumer groups imCpoapcytsri gthhte © i2nd0u2s4t rIyn dwuisdtery ApRarCt nerships and competitive landscape. Source: IndustryARC Analysis and Expert Insights Inquiry Before Buying +1 518 282 4727 sales@industryarc.com | Buy Now | |

❖ The present invention discloses the use of propionic acid as a pre- emergent and post-emergent herbicide, Propionic acid is Currently Pesticides: Propionic Acid Market Revenue, 2022-2030 ($ Mn) used as a pre-emergent pesticide and is applied to the soil in one embodiment. Owing to this propionic acid in pesticides safer 600.00 alternative to synthetic herbicides currently on the market. ❖ Propanoic acid, calcium salt, and propanoic sodium salt are free 500.00 from the requirement of a tolerance on all crops when used as either an active or inert ingredient in pesticide formulations 400.00 applied to growing crops in accordance with good agricultural practice. The rising usage of propionic acid in pesticides propelling 300.00 ❖ the market growth. In 2020, 5.1 million pounds of pesticides were used. According to the USDA, insecticides account for 75% of total 200.00 usage, while fungicides account for 13%. Pesticides also used in propionic acid which is aided the market growth. Propanoic acid 100.00 ❖ demand for pesticide production is expected to rise. The rising demand for fertilizers is a result of the need to improve agricultural 0.00 2022 2023 2024 2025 2026 2027 2028 2029 2030 Copyright ©2024 IndustryARC yields in the face of variables such as shrinking arable land. As a result, the growing use of propionic acid in fertilizer formulation is expected to drive market growth. Source: IndustryARC Analysis, Expert Insights Inquiry Before Buying +1 518 282 4727 sales@industryarc.com | Buy Now | |

❖ The present invention enables such a method of production by biologically preparing propionic acid by fermenting whey. The agent is produced in a sustainable manner, making it suitable for organic farming. The invention will be described in relation to grass silage. Food Preservative Agent: Propionic Acid Market Revenue, 2022-2030 ($ Mn) 1200.00 and it is alsoused in other feeds and byproducts from the food and feed industry, as well as animal and vegetable foodstuffs. Propionic ❖ 1000.00 Acid is widely used as a preservative agent and additive in processed and packaged foods to extend shelf life. Propionic acid 800.00 reduces food waste and protects food from bacterial contamination. It also helps to keep food products fresh and reduces decay caused by moisture and gaseous substances. As a 600.00 result, increasing the consumption of Propionic acid anticipated ❖ market growth. Propionic acid, as well as its Ca, K, and Na salts, is a 400.00 common food additive used to preserve food. Fungi typically cross- contaminate wheat during harvest and especially in poor storage 200.00 conditions. The usage of PA and its salts is able to eliminate these Copyright ©2024 IndustryARC 0.00 contaminations during crop storage. As a result increasing the 2028 2029 2030 2022 2023 2024 2025 2026 2027 usage of food preservative Agents in propionic acid boosting the market growth. Source: IndustryARC Analysis, Expert Insights Inquiry Before Buying +1 518 282 4727 sales@industryarc.com | Buy Now | |

❖ Propionic acid is widely used in agriculture and livestock operations owing to its antibacterial and mold inhibiting properties. The use of pesticides increases food production as it reduces crop losses due to pest infestation. According to the Food and Agriculture Organization (FAO), annually more than 20% of crops are spoiled by pests. 85% of all pesticides products are used in agriculture and the rest in lawns, gardens, forestry, etc., as per the U.S. Environmental Protection Agency (EPA). An article published by the Proceedings of the International Academy of Ecology and Environmental Sciences (IAEES) iterates the importance of pesticides. According to the article, restraining the use of pesticide during the production of fruits, vegetable, and cereals may lead to losses of 78%, 54% and 32%, respectively, in the yield. Whereas, using pesticides reduced the loss of around 35% of the total production. According to the EPA, propionic acid is used as a fungicide and bactericide, registered to control fungi and bacteria in stored grains, hay and grain storage areas It is formulated as a liquid and sprayed onto grain, hay, and grain storage area surfaces. The agriculture segment was valued at US$355.74 in 2022 and is expected to grow at a CAGR of 4.1% to reach US$489.59 by 2030. Agriculture : Propionic Acid Market Revenue, 2022-2030 ($m) ❖ 600 ❖ 500 ❖ 400 300 200 ❖ 100 0 2022 2023 2024 2025 2026 2027 2028 2029 2030 ❖ Copyright ©2024 IndustryARC Source: IndustryARC Analysis, Expert Insights Inquiry Before Buying +1 518 282 4727 sales@industryarc.com | Buy Now | |

❖ Propionic acid is primarily used as a preservative in cheeses, beverages, and baked goods. The US Food and Drug Agency (FDA) certifies propanoic acid as GRAS (generally recognized as safe) and thus has no restrictions on its use. The emerging applications of propionic acid in food, dietary supplements, and clinical nutrition have stimulated market growth in recent years. Rising demand from emerging markets, particularly Asia Pacific and Europe will provide significant growth opportunities for the global propionic acid market. For instance, the Ministry of Food Processing Industries predicts that the growth rate of processed foods in India to be 16.3% between 2019 and 2024. Propionic acid assists increase food safety and quality by enhancing food preservation and shelf life. In emerging markets, 60% of food waste occurs early in the supply chain before it reaches the retailer and can often be addressed by enhancing preservation practices. According to studies, extending the shelf life of food products with preservatives such as propionic acid can prevent approximately 50% of consumer food waste, which is projected to propel the market during the forecast period. Food & Beverages : Propionic Acid Market Revenue, 2022-2030 (US$ million) 1,200 ❖ 1,000 ❖ 800 600 ❖ 400 200 0 2022 2023 2024 2025 2026 2027 Copyright ©2024 IndustryARC 2028 2029 2030 Source: IndustryARC Analysis, Expert Insights Inquiry Before Buying +1 518 282 4727 Buy Now sales@industryarc.com| | |

❖ BASF and SINOPEC expand capacity of existing propionic acid China: Propionic Acid Market Revenue, 2022-2030 ($M) production with an additional 30,000 metric tons annually. The expansion is driven by growing demand for food and feed grain 350.00 preservation due to population increase and enhanced living standards in Asian countries, particularly in China. The researchers ❖ 300.00 are studying for sustainable production of propionic acid in China. 250.00 ❖ On 13 December, 2019, National Health Commission of the People's Republic of China (NHC) approved eleven new food 200.00 Revenue ($M) additives. The food additives includes propionic acid. A new ❖ method invented to quantification of propionic acid from 150.00 Scutellaria baicalensis roots. The developed method was applied to the analysis of S. baicalensis roots collected in South Korea 100.00 and China. 50.00 Copyright ©2024 IndustryARC 0.00 2022 2023 2024 2025 2026 2027 2028 2029 2030 Source: IndustryARC Analysis, Expert Insights Inquiry Before Buying +1 518 282 4727 sales@industryarc.com | Buy Now | |

BASF SE: Product Portfolio Product Name Category Description Business Overview The Propionic Acid offering from BASF SE is a flexible preservative that is utilized in the feed or food industries. It preserves as needed for baked goods, and also maintains compound feed, grain, or corn in animal feed applications while lowering mold or yeast. Furthermore, it enhances fermentation in silage applications. In addition to producing solvents, crop protection chemicals, and thermoplastics, it also functions as a synthetic building block for the manufacture of medicines. The product comes in several packaging options which include glass bottles and plastic drums. BASF SE Description 1865 Establishing Year Germany Headquarters Propionic acid pure 1,11,047 No. of Employees (2021) Revenue (2021) $89,020m Propionic Acid $2380m R&D Investment (2021) www.basf.com/global/en.html Website The PA ZeroPCF is a carbon neutral Propionic Acid offering from BASF, which has been produced using renewable raw materials via its PA ZeroPCF Copyright ©2024 IndustryARC Biomass Balance (BMB) approach. Source: Company Website Inquiry Before Buying +1 518 282 4727 sales@industryarc.com | Buy Now | |

Financials: BASF SE, Revenue, 2019-21 ($M) 1,00,000 90,000 80,000 70,000 60,000 89,020 72,581 66,635 Revenue ($M) 50,000 40,000 30,000 20,000 10,000 0 2019 2020 2021 BASF SE, By Business Segment, 2021 (%) BASF SE, Revenue, By Geography, 2021 (%) 19% 26% Chemicals Materials North America 11% 17% Industrial Solutions South America, Africa, Middle East Europe 40% Surface Technologies Nutrition & Care 5% Agricultural Solutions Copyright ©2024 IndustryARC Asia Pacific Other 29% 11% 28% 6% 8% Source: Company Annual Reports Inquiry Before Buying +1 518 282 4727 sales@industryarc.com | Buy Now | |

BASF SE: Developments Date Approach Description BASF SE established a second production plant of Propionic Acid in Nanjing, China. The new production plant has a capacity of 30,000 tons per year, bringing the total capacity at the site to 69,000. BASF-YPC is a joint venture between BASF and Sinopec. The expansion was driven by rising demand in China and the wider Asia-Pacific region. May 2019 Expansion BASF SE announced an additional expansion of their plant in Nanjing, China. The development involves the expansion of several downstream chemical plants which include a propionic acid plant. August 2021 Expansion BASF announced the launch of propionic acid (PA) with a product carbon footprint (PCF) of zero. It is produced at BASF’s Ludwigshafen Verbund site, in Germany, and is available globally as PA ZeroPCF. Product Launch September 2022 Copyright ©2024 IndustryARC Source: Company Annual Reports Inquiry Before Buying +1 518 282 4727 sales@industryarc.com | Buy Now | |

Propionic Acid Market 2023 - 2030)_Sample Extract.pdf

Propionic Acid Market 2023 - 2030)_Sample Extract.pdf

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