Propionic Acid Market to Expand Rapidly with Key Innovations and Collaborations | BASF SE, Daicel Corporation, Dow
Propionic Acid Market size was valued at USD 919.6 million in 2023 and is projected to grow from USD 952.0 million in 2024 to USD 1,258.8 million by 2031, exhibiting a CAGR of 4.07% during the forecast period.
The latest report titled Propionic Acid Market: Trends, Share, Size, Growth, Opportunities, and Forecast 2024-2031" by Kings Research delivers a thorough analysis of the industry, encompassing market insights. It also covers competitor and regional analysis, along with recent advancements in the market.
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Key Industry Development
October 2022 (Product Launch): BASF introduced neopentyl glycol (NPG) and propionic acid (PA) with a zero-product carbon footprint (PCF), manufactured at its Ludwigshafen Verbund facility in Germany. These products, named NPG ZeroPCF and PA ZeroPCF, were made available worldwide. This initiative demonstrated BASF's commitment to sustainability by offering environmentally friendly options. By reducing carbon emissions associated with production, BASF aimed to meet the growing demand for sustainable chemicals while supporting global efforts to combat climate change.