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Propionic Acid

Propionic Acid Prices Overview

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Market Overview

Quarterly Update on Global Propionic Acid Market

For the Quarter Ending December 2020

Asia

The Asian Propionic Acid market experienced both ups and downs during Q4 2020. Initially during October, the CFR SEA price rose to around USD 900/tonne as an effect of rise in demand due to festive season especially in India. But later till the end of the quarter, the prices dropped to USD 850 USD/tonne levels due to fall in demand due to the year-end seasonal lull. The prices of feedstock ethylene were rising due to increasing demand and tight supply while most of the demand was coming from the packaging sector.

Europe

In the fourth quarter of 2020, Europe was suffering from the second wave of COVID-19 infections. Manufacturers across the region were handling restricted movement and shortage of the feedstock Ethylene leading to tight regional supplies simultaneously. These conditions drove the prices of Propionic Acid to rise slightly in Germany and Spain initially in October. Extending sharp market gains to its end customers, BASF announced an increase in the prices of Propionic Acid products in November 2020. However, later during December, the prices again dropped by around 5% and came down to the previous levels.

North America

North America faced multiple hurricanes between Q3 2020 and Q4 2020 which capped the Propionic Acid production levels. During October 2020, due to hurricane Laura, more than 90% of the total output of the gulf of the US remained affected which led to mass shortage of feedstock Ethylene. A number of factors complemented the slight rise in the prices of Propionic Acid in Mexico region during November 2020. But later in December the prices came back to normal again when the feedstock supplies started reaching to normalcy.

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Services

Market Analysis

Company-wise installed capacity, production volume and plant operating efficiency is captured directly from manufacturers. Import and Export volume is captured from government sources and demand for Propionic Acid is calculated considering the production, import, export and inventory-levels on the country and regional level markets.

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Pricing Analysis

The product price is correlated with the price trend of crude oil, demand-supply gap, fluctuations in the feedstock and with the market movement of the downstream sectors.

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Company Profile

Basic details and information on financial performance of leading global players in the Propionic Acid market is presented in a visually captivating manner. Expansion plans and the company’s strategy is also captured to understand the vision and mission of the company to help understand the areas where companies need to focus more.

News & Deals

Daily updates on industry-specific and product-specific news, exclusive primary-based news capturing plant shutdowns/outages/closures, capacity expansions, operating rates, insights on demand-supply situation, awarding of technology licenses, new product launch and deals specifying mergers and acquisitions, strategic investments and disinvestments, to help players capitalize on market opportunity.

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Methodology

ChemAnalyst gathers information through primary research surveys conducted with various Propionic Acid manufacturers, spread across the domestic and international market, suppliers and dealers/distributors to gain insights into value-chains and demand-supply scenario to assess the market situation. Thorough study of company’s annual reports and secondary sources such as exhaustive search on credible paid databases, including our internal database is done to verify the information. All the collected information is analyzed, evaluated and presented in chronological order to depict a meaningful and clear picture of the concerned market.

Our dedicated team of industry experts comprehensively monitors and analyzes various aspects of the Global Propionic Acid market. The team analyzes various industrial segments, strategic viewpoints and provides an analysis of the industry’s performance in the long run. This would enable our clients in efficiently plan their future investments, mitigate risk, understand the cost dynamics and strike out a balance amidst market volatility.

Critical examination of the impact of COVID-19 pandemic on the global supply chains and shift in demand patterns with change in buying behavior of consumers across the globe.

Several ongoing development projects across industries are tracked, followed by the details of major projects in the development stage, which can positively or negatively influence Global Propionic Acid market.

Pricing is captured through exhaustive primary interviews with domestic and international manufacturers, traders and importers and customers on monthly and yearly basis.

Finally, region-specific markets for Propionic Acid are analyzed and region-wise demand pattern is tracked.

About

Propionic Acid or Propanoic Acid is a naturally occurring member of carboxylic acid family. It is a saturated fatty acid with chemical formula CH₃CH₂COOH. Propionic Acid has a boiling point of 141.2°C and is found in liquid state at room temperature. In industries, propionic acid is produced by hydrocarboxylation of ethene in the presence of a catalyst. In hydrocarboxylation process CO (carbon monoxide) and H2O (water) reacts with ethene in the presence of a catalyst to produce Propanoic Acid. Ni (CO)₄ (Nickel tetracarbonyl) is the catalyst mostly used for this reaction. Another method, which is not so popular in industrial manufacturing of Propionic Acid is, oxidation of Propenal in the presence of magnesium salt at around 45°C. There are limited number of uses of Propionic Acid like it is used as a preservative for animal food and in human food as well, it is used to control growth of bacteria in hay, food grains in poultry farm. It is also used to make Cellulose Acetate Propionate (CAP) which is a thermoplastic and used to make frames of sunglasses and spectacles etc. it is also used to manufacture herbicides and food additives like calcium propionate and sodium propionate.

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Propionic Acid Prices Overview