Propionic Acid Prices in USA
- United States: 1245 USD/MT
In June 2023, the market price for propionic acid in the United States was 1,245 USD per metric ton. The latest report by IMARC Group, titled "Propionic Acid Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data" delivers a comprehensive analysis of Propionic Acid prices on a global and regional scale, highlighting the pivotal factors contributing to price changes. This detailed examination includes spot price evaluations at key ports and an analysis of pricing structures, such as Ex Works, FOB, and CIF, across North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Propionic Acid Prices December 2023:
- United States: 1245 USD/MT
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The study delves into the factors affecting Propionic Acid price variations, including alterations in the cost of raw materials, the balance of supply and demand, geopolitical influences, and sector-specific developments.
The report also incorporates the most recent updates from the market, equipping stakeholders with the latest information on market fluctuations, regulatory modifications, and technological progress. It serves as an exhaustive resource for stakeholders, enhancing strategic planning and forecast capabilities.
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Propionic Acid Price Trend- Q4 2023
The market growth of Propionic Acid is primarily driven by its increasing utilization across diverse industries, including food preservation, agriculture, and pharmaceuticals, where it serves as a mold inhibitor, pesticide, and preservative. The expansion of the global food and beverage industry, particularly within the processed and packaged food sectors, significantly boosts demand for Propionic Acid as a food preservative due to its efficacy in extending shelf life and preventing mold growth in baked goods and cheese. Additionally, the agricultural sector contributes to the demand surge as Propionic Acid is used in grain preservation and as an additive in animal feed to prevent food spoilage, thereby improving feed efficiency and animal health. The growing awareness of feed quality and animal nutrition underscores its importance in this sector. Moreover, the pharmaceutical industry utilizes Propionic Acid in the production of various drugs and as an excipient, fostering further market expansion. Technological advancements in manufacturing processes have enhanced the efficiency and cost-effectiveness of Propionic Acid production, making it more accessible for widespread industrial applications. Market growth is also supported by regulatory approvals that recognize Propionic Acid as a safe compound for various uses, encouraging its adoption. However, market expansion is tempered by the availability of substitutes and fluctuating raw material prices, which pose challenges to sustained growth.
Propionic Acid Market Analysis
The global propionic acid market size reached US$ 1.8 Billion in 2023. By 2032, IMARC Group expects the market to reach US$ 2.3 Billion, at a projected CAGR of 2.70% during 2023-2032. In the first quarter of 2024, the global market for propionic acid experienced significant fluctuations due to a combination of supply chain disruptions, variable demand across regions, and volatile feedstock prices. One of the primary factors affecting the price of propionic acid was the shutdown of several key manufacturing plants, both scheduled and unscheduled. In North America, particularly the United States, propionic acid prices exhibited a bullish trend in the early months, driven by elevated demand from the food industry, which relies heavily on propionic acid for preservatives and flavorings. This surge was further exacerbated by rising feedstock ethylene prices, itself a consequence of global plant shutdowns including significant production halts in China during the Lunar New Year celebrations. These shutdowns curtailed global supply chains, contributing to price increases. Moreover, extreme weather conditions, notably a severe winter storm, led to additional facility shutdowns and logistical challenges within North America, compounding the scarcity of propionic acid and disrupting power supplies critical for production.
Towards the end of the quarter, however, the market dynamics shifted markedly. Prices began to decline due to an oversupply situation as production normalized faster than demand could recover. In the APAC region, especially India, the initial stable pricing environment due to adequate stockpiles and steady demand began to falter as demand from the food and beverage sector weakened. The anticipation of reduced procurement activities towards the quarter’s end also played a significant role, leading to price corrections. This decline was mirrored in Europe, where, despite early bullish trends due to strong demand and similar supply disruptions caused by adverse weather and feedstock issues, prices fell in March. The downturn was facilitated by an oversupply in the market and diminished costs of feedstock ethylene, highlighting the cyclical nature of commodity chemicals like propionic acid where supply-demand imbalances can swiftly alter the pricing landscape. These regional trends underscore the complex interplay between supply chain logistics, feedstock availability, manufacturing disruptions, and sector-specific demand in shaping the global market for propionic acid.
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Key Points Covered in the Propionic Acid Pricing Report:
The report delivers the following key findings, alongside a comprehensive breakdown of prices by region:
- Propionic Acid Prices
- Price of Propionic Acid
- Propionic Acid Demand & Supply
- Propionic Acid Market Analysis
- Demand Supply Analysis by Type
- Demand Supply Analysis by Application
- Demand Supply Analysis of Raw Materials
- Propionic Acid Price Analysis
- Propionic Acid Industry Drivers, Restraints, and Opportunities
- Propionic Acid News and Recent developments
- Global Event Analysis
- List of Key Players
Regional Price Analysis:
- Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand
- Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece
- North America: United States and Canada
- Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru
- Middle East & Africa: Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco
Browse More Pricing Reports by IMARC Group:
Note: The current country list is selective, detailed insights into additional countries can be obtained for clients upon request.
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