Propionic Acid Price In USA

• United States: 1245 USD/MT

In June 2023, the market price for propionic acid in the United States was 1245 USD/MT.

The latest report by IMARC Group, titled "Propionic Acid Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data," provides a thorough examination of Propionic Acid Prices. This report delves into the price of Propionic Acid globally, presenting a detailed analysis, along with informative Propionic Acid Price Chart. Through comprehensive price analysis, the report sheds light on the key factors influencing these trends. Additionally, it includes historical data to offer context and depth to the current pricing landscape. The report also explores the Propionic Acid demand, analyzing how it impacts market dynamics. To aid in strategic planning, the price forecast section provides insights into price forecast, making this report an invaluable resource for industry stakeholders.

Propionic Acid Price Analysis:

• 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.

Request For a Sample Copy of the Report: https://www.imarcgroup.com/propionic-acid-pricing-report/requestsample

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 Industry Analysis

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.

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.

Note: The current country list is selective, detailed insights into additional countries can be obtained for clients upon request.

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