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Global Sodium Propionate Market - Share, Size, Trends Analysis to 2021
The global sodium propionate market was valued at US$ 31.1 Mn in 2014, which is expected to expand at a CAGR of 5.4% during the forecast period (2015–2021). The market is highly volatile in nature, with the highest threat from substitutes due to supply-demand volatility. Shortage of initial raw material ‘ethylene’ due to rising petroleum prices has disrupted market dynamics to a major extent. In terms of volume, the market accounted for 18,547 tonnes in 2014, which is projected to reach 22,447 tonnes by 2021, exhibiting a CAGR of 3.0% during the forecast period.
