Us Propionic Acid (CAS 79-09-4) Market Size By Applications, By Type, By End-User, By Deployment & By Technology 2032
Propionic Acid (CAS 79-09-4) Market was valued at USD 0.34 Billion in 2022 and is projected to reach USD 0.51 Billion by 2030, growing at a CAGR of 5.3% from 2024 to 2030.
The U.S. propionic acid market, identified by CAS number 79-09-4, is experiencing significant growth, driven by its diverse applications across various industries. Propionic acid, a naturally occurring carboxylic acid, is utilized as a preservative in food and animal feed, as well as in the production of herbicides, plasticizers, and pharmaceuticals. In the food industry, propionic acid is valued for its antifungal properties, effectively extending the shelf life of baked goods and processed meats by inhibiting mold and bacterial growth. This preservative function is crucial in meeting the increasing consumer demand for longer-lasting and safe food products. The agricultural sector also benefits from propionic acid, where it serves as a preservative in animal feed, preventing spoilage and maintaining nutritional quality. Additionally, its use in grain storage areas helps control bacteria and fungi, ensuring the safety and quality of livestock feed. The pharmaceutical industry employs propionic acid as a chemical intermediate in the synthesis of various compounds, including non-steroidal anti-inflammatory drugs (NSAIDs). Its role in drug formulation underscores its importance in the healthcare sector. Market analyses indicate a positive trajectory for the U.S. propionic acid market. Projections estimate the market size to reach approximately 412.06 kilotons in 2024, with an expected compound annual growth rate (CAGR) of 3.31% during the forecast period from 2024 to 2029. This growth is attributed to the expanding applications of propionic acid across various industries. Key players in the U.S. propionic acid market include BASF SE, Dow Inc., Eastman Chemical Company, Perstorp Holding AB, and Hawkins Inc. These companies are actively involved in production and innovation, contributing to the market's expansion. In summary, the U.S. propionic acid market is poised for continued growth, driven by its essential roles in food preservation, agriculture, and pharmaceuticals. The ongoing demand for safe and effective preservatives in food products and animal feed, coupled with its applications in drug manufacturing, positions propionic acid as a critical component in various industries.
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Propionic Acid (CAS 79-09-4) Market
Laparoscopic Surgery
Robotic-Assisted Surgery
Transurethral Resection of the Prostate (TURP)
Focal Therapy
Radical Prostatectomy
Biopsy Procedures
Laser Therapy
Cryotherapy
Hospitals
Ambulatory Surgical Centers (ASCs)
Specialty Clinics
Research Institutions
Conventional Technology
Advanced Robotic Systems
Emerging Technologies
Digitalization and Artificial Intelligence Integration
Instruments and Devices
Consumables
Imaging Systems
Robotic Systems
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Propionic Acid (CAS 79-09-4) Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Propionic Acid (CAS 79-09-4) Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Propionic Acid (CAS 79-09-4) Market, By Type
6. Global Propionic Acid (CAS 79-09-4) Market, By Application
7. Global Propionic Acid (CAS 79-09-4) Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Propionic Acid (CAS 79-09-4) Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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