New Materials research report from Markets and Markets is now available from Fast Market Research
Boston, MA -- (SBWIRE) -- 08/20/2013 -- Propionic acid is a three-carbon carboxylic acid with a molecular formula of CH3CH2COOH. It is a clear, colorless liquid with a pungent odor. It is commercially manufactured by the hydrocarboxylation of ethylene in the presence of nickel carbonyl catalyst. Propionic acid and derivatives are largely used as feed and food preservatives. It inhibits the growth of molds and bacteria. Propionic acid is also used to make some specialized propionates, such as cellulose acetate propionate (CAP), which is a useful thermoplastic. The other applications of propionic acid and derivatives include herbicides, pharmaceuticals, and solvents. Propionic acid may cause irritation to the human body in case of contact, so various health organizations are involved in continuously monitoring its exposure levels.
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The global market for propionic acid & derivatives has grown significantly during the past few years and is expected to grow at a more rapid pace in the next five years, mainly driven by the growing demand from feed preservatives, grain preservatives, and food preservatives. Europe emerged as the largest market of propionic acid & derivatives mostly driven by the ban imposed on the antibiotics in some applications since 2006. The demand for propionic acid & derivatives in the European region is likely to remain healthy due to huge demand for the feed and grain preservatives segment. The U.S. is the largest single market for propionic acid & derivatives across the globe. The propionic acid & derivatives consumption in other countries had improved over the past few years and is expected increase further over the near term. The major propionic acid & derivatives market production facilities are located in developed markets, such as in Germany, the U.S., the Netherlands, Sweden, and Canada. Thus, these countries will remain major exporters of propionic acid and derivatives. Countries like Spain, France, India, Brazil, South Africa, Russia, etc. will remain major importers of propionic acid & derivatives.
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