Europe Propionic Acid Market Size To Worth USD 601.8 Million By 2033 | CAGR of 3.26%

Europe Propionic Acid Market Size To Worth USD 601.8 Million By 2033

According to a research report published by Spherical Insights & Consulting, the Europe Propionic Acid Market Size is to Grow from USD 436.7 Million in 2023 to USD 601.8 Million by 2033, at a Compound Annual Growth Rate (CAGR) of 3.26% during the projected period.

Browse key industry insights spread across 178 pages with 100 Market data tables and figures & charts from the report on the "Europe Propionic Acid Market Size, Share, and COVID-19 Impact Analysis, By Application (Herbicides, Rubber Products, Plasticizers, Food Preservatives, and Others), By End-User (Pharmaceuticals, Personal Care, Food & Beverage, Agriculture, and Others), and Europe Propionic Acid Market Insights, Industry Trend, Forecasts to 2033." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/europe-propionic-acid-market

Propionic acid is an organic acid that is colorless, combustible, caustic, and has a rotten, harsh smell. It contains a carboxylic structure with two to six carbon atoms, making it a short-chain fatty acid (SCFA). The gut microbiota in the human body produces propionate, a prevalent SCFA, in reaction to indigestible carbohydrates. Several significant variables impact the propionic acid industry in Europe. These include the growing demand for natural preservatives and the consumption of meat, poultry, fish, and packaged meals. Propionic acid is also becoming more popular in drug compositions. This increasing demand is also a result of the expansion of the European personal care and cosmetics sector. Western European nations are major market drivers because of their highly developed industrial sectors. Additionally, customers in these nations are well aware of propionic acid's advantages. However, increased environmental worries over pesticide and herbicide use may restrict market growth.

The rubber products segment is anticipated to hold the largest market share of the Europe propionic acid market during the projected timeframe.   

Based on the application, the Europe propionic acid market is classified into herbicides, rubber products, plasticizers, food preservatives, and others. Among these, the rubber products segment is anticipated to hold the largest market share of the Europe propionic acid market during the projected timeframe. Demand for rubber products is rising, especially in industries including polymer modification, industrial manufacture, construction, and automobiles. An essential step in the manufacturing of rubber is propionic acid. Additionally, its many uses, rubber products are becoming more and more in demand in the automobile sector. As a result, the usage of propionic acid in the production of rubber is greatly boosting the propionic acid market in Europe.

The food & beverage segment is predicted to dominate the Europe propionic acid market during the projected timeframe.   

Based on the end-user, the Europe propionic acid market is categorized into pharmaceuticals, personal care, food & beverage, agriculture, and others. Among these, the food & beverage segment is predicted to dominate the Europe propionic acid market during the projected timeframe. Propionic acid has become a popular food preservative in bread, cheese, cakes, non-alcoholic drinks, jellies, jams, and other processed foods. It prolongs shelf life by preventing the growth of bacteria and mold. It is anticipated that this tendency will propel market expansion. Strong economic growth and population increase are driving the rapid expansion of the European food and beverage industry.

Major vendors in the Europe propionic acid market include BASF SE, Oxea GMBH, DSM, SternVitamin GmbH & Co. K.G., Adisseo, The Dow Chemical Company, Eastman Chemical Company, PERSTORP ORGNR, and Others.

Recent Developments

• In October 2022, BASF has introduced propionic acid (PA) and neopentyl glycol (NPG) with a zero cradle-to-gate product carbon footprint (PCF) for the first time. Under the designations "NPG ZeroPCF" and "PA ZeroPCF," these products are sold all over the world and are manufactured in BASF's Ludwigshafen Verbund facility in Germany. By integrating renewable raw materials in its special Verbund production system and a biomass balancing (BMB) strategy, BASF can achieve zero PCF for both NPG and PA. Additionally, BASF uses renewable energy to produce NPG.

 Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at Europe, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Europe propionic acid market based on the below-mentioned segments:

Europe Propionic Acid Market, By Application

• Herbicides
• Rubber Products
• Plasticizers
• Food Preservatives
• Others

Europe Propionic Acid Market, By End-User

• Pharmaceuticals
• Personal Care
• Food & Beverage
• Agriculture
• Others

About the Spherical Insights & Consulting

Spherical Insights & Consulting is a market research and consulting firm that provides actionable market research study, quantitative forecasting, and trends analysis provides forward-looking insight especially designed for decision-makers and aids ROI.

Which caters to different industries such as financial sectors, industrial sectors, government organizations, universities, non-profits, and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements. 

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