Propionic Acid Market Size, Share, Growth Analysis, By Application(Herbicides, rubber products, plasticizers, food preservative), By End-use industry(Pharmaceuticals, personal care, food & beverage, agriculture), By Region - Industry Forecast 2024-2031

Propionic Acid Market size was valued at USD 1.05 billion in 2019 and is poised to grow from USD 1.1 billion in 2023 to USD 1.42 billion by 2031, growing at a CAGR of 3.78% in the forecast period (2024-2031).

Propionic acid is a colourless, clear liquid with a strong smell. Propionic acid is created through the hydro carboxylation of ethylene using nickel carbonyl as a catalyst. Animal feed additives and food preservatives both use propionic acid and its esters. Due to its anti-fungal and anti-bacterial properties and high boiling point, propionic acid is used as a crop protecting agent. It is also fit to work well for cattle drinking water also acting as an anti-bacterial agent. A type of carboxylic acid is propionic acid, sometimes referred to as carboxylic acid, methane carboxylic acid, or ethyl formic acid. In its natural state, it can be utilised as an ester in essential oils. It is a natural preservative that is used to increase the shelf life of baked goods like tortillas and bread and cheese. Additionally, they are used in the preservation packaging of certain ready-to-eat foods. Futuremarket expansion will be aided by a quickening pace of developments in sectors that employ propionic acid.

US Propionic Acid Market is poised to grow at a sustainable CAGR for the next forecast year.