Market Overview

Sodium Acetate Market in Asia Pacific to hit US$120 million by 2024


Sodium Acetate Market in Asia Pacific to hit US$120 million by 2024

APAC and North America region will account 70% of the global sodium acetate market over the forecast timeframe driven by high demand from the medical, pharma, textile, and food processing industries.

PR Newswire

SELLBYVILLE, Del., Aug. 20, 2018 /PRNewswire-iReach/ -- The global trends report says, "Sodium Acetate Market is predicted to be valued surpass USD 220 million by 2024." The upward trend in leather & textile market due to changing lifestyle, higher disposable income, and favorable demographic will spur the product market by the end of forecast period. Sodium ethanoate is used to neutralize sulfuric acid present in waste water in the leather & textile industry. It is also used to facilitate dye and act as a mordant in dying process. In cotton processing industry, the product is used to eliminate the static charge developed on cotton fabric. Increasing investment and schemes in leather & textile industry by the government will propel the product market growth.

The escalation in consumption of packed and ready-to-eat food will enhance the sodium ethanoate market growth. The global packed food sales registered nearly USD 2.5 trillion in 2016 and will witness healthy growth in coming years. Sodium acetate is used as an emulsifier, preservative to increase the shelf life of food product. Additionally, it is used to enhance flavor and as a buffer to maintain the pH level of the packed food.

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Primary hindrance to the growth of sodium acetate market is the availability of substitute products. The use of sodium citrate in place of sodium acetate in food product owing to its anti-inflammatory, biocompatibility properties will hamper the sodium acetate market. Moreover, sodium ethanoate increases the plasma content in human body and leads to hemodynamic instability and acidosis which will act as a restraining factor to the sodium ethanoate market.

In 2024, sodium acetate trihydrate market will reach over USD 65 million accounting for more than half of the overall market share. Sodium ethanoate is used as a diuretic and replenishing agent for lost electrolyte in medical & pharmaceutical industry.

Based on end-user industry, the product market is diversified into food, medical & pharmaceuticals, and leather & textile. The other niche applications include polyester fibers, photography, cosmetics etc. Food industry will provide a lucrative growth to the product market owing to proliferation in packed food consumption.

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Asia Pacific depicted the maximum growth and will account for around 55% of total share of the product market in 2024. Raw material availability along with cheap labor and significant production technology for leather & textile industry will propel the product market by the end of 2024.

The major participants of the market are Sisco Research Laboratories, Daito Chemical, Tokyo Chemical Industry (TCI), Gelest Inc., Spectrum Chemical, Lonza, Cayman Chemical, and American Elements.

Buy this industry insights spread across 150 pages with 176 market data tables & 29 figures & charts from the report, "Sodium Acetate Market Size By Product (Trihydrate, Anhydrous), By End-user (Leather & Textile, Food, Medical & Pharmaceuticals), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, Russia, China, India, Japan, Australia, Indonesia, Malaysia, South Korea, Brazil, Mexico, South Africa, GCC), Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024" in detail along with the table of contents:

Chapter 3. Sodium Acetate Industry Insights

3.1.  Industry segmentation

3.2.  Industry size and forecast, 2013 - 2024

3.3.  Industry ecosystem analysis

3.3.1.   Vendor matrix

3.3.2.   Distributor channel analysis

3.3.3.   Profit margin analysis

3.3.4.   Value addition at each stage

3.4.  Raw material analysis

3.5.  Industry impact forces

3.5.1.   Growth drivers   Growth in leather & textile industry   Increasing sodium acetate demand in food industry   Rising demand for the product in myriad end-user industries

3.5.2.   Industry pitfalls & challenges   Availability of substitute product

3.6.  Growth potential analysis

3.7.  Porter's analysis

3.8.  Technology trends

3.9.  Regulatory trends

3.10.    Company market share analysis, 2016

3.10.1.   Strategic landscape

3.11.  PESTEL analysis

3.12.  Pricing analysis

3.12.1.   Regional pricing

3.12.2.   Cost structure analysis

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About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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