Acetate Salt Market - Segmented by Type, End-User Industry and Geography - Trends and Forecasts (2018-2026)

Acetate Salt Market - Segmented by Type, End-User
Industry and Geography - Trends and Forecasts
(2018-2026)
Acetate salts are clear and colorless crystals or liquid (in aqueous form) derived from acetic
acid. Acetate salts are low toxic compounds that provide good buffering properties—ability
to maintain solutions at relatively constant pH despite changes in acid or base concentration.
These salts are extensively utilized in various end user industries such as pharmaceuticals,
food processing, and water treatment industries, among others.
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Market Dynamics
The global market for acetate salts is primarily driven by growing demand of food, chemicals
and construction industry. It is used to neutralize sulfuric acid in the textile industry.
Moreover it is used as a barrier to water in the concrete structures across the globe.
Other factors including rapid depletion of fresh water reserves in countries in Asia Pacific
and the Middle East fueling demand for acetate salt for water treatment, to recover
magnesium salt from brine and aluminum salt from aluminum hydroxide by various
industries to reduce investment made for raw water treatment equipment installation..
Moreover with the increase in population and growing urbanization, rapid adoption of frozen
and canned food demand increasing across the globe..
However, the market faces certain drawbacks such as presence of benzoic acid and sodium
benzoate that are commonly used as food preservatives, which are easily available in the
market and rapidly maturing market in developed economies of North America and Europe,
inadvertently leading to plunge in profitability.
Market Segmentation
Acetate salts are essential products for general, as well as industrial purposes. In the report,
the acetate salt market is segmented on the basis of product type and end user industry.
Among product types, sodium acetate segment dominates the acetate salt market. Factors
such as extensive application in food processing, pharmaceuticals, textiles and cosmetics
industry, makes sodium acetate the largest segment in the global acetate salt market.
Among end-user industries, pharmaceuticals industry is currently the largest consumer of
acetate salt and is also expected to witness fastest growth rate during the forecast period
(2016-2024). Acetate salts are widely used in production of various types of drugs. Rapidly
growing pharmaceuticals industry in emerging economies of Asia Pacific and South America
has in turn resulted in high demand for acetate salt in these regions.
Furthermore, its application in potato chips to give a salty and vinegar flavor, food
processing industry is also increasing, where it is widely used as preservative and flavoring
agent.
Regional Analysis
The market has been geographically segmented into North America, Europe, Asia Pacific,
Latin America, Middle East, and Africa. In terms of consumption in 2016, North America
dominated the market, followed by Asia Pacific, and Europe, respectively. Highly advanced
pharmaceuticals industry and widespread presence of superior quality of water treatment
solutions in North America makes it the largest acetate salt market. Furthermore, high
consumption of frozen and canned food in the region is a major factor driving growth of the
acetate salt market in North America.
However, Asia-Pacific, currently the second largest market, is expected to witness maximum
growth rate during the forecast period (2016-2024). Owing to factors such as rapid
industrialization & urbanization, growing population, dynamic economic development and
improved standard of living, Asia-Pacific is currently witnessing significant rise in all major
end-user segment of acetate salt market such as pharmaceuticals, food processing, and water
treatment industries, laboratories textile industries, dyes industries and rubber industries,
among others.
Opportunities and Major Players
Sodium acetate is used to neutralize the sulfuric acid from waste pipes in the textile industry.
Burgeoning growth of the textile industry, especially in Asia Pacific is expected to boost
growth of the market over the forecast period.
The market of acetate salt is highly fragmented, with the presence of only few global players.
Majority of the players in this market are local players, with better access to distribution in
their local market.
Major companies dominating this market for its products, services, and continuous product
developments are:
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Acetate Salt Market report categorizes global market by Type, End-User and Geography - Trends and Forecasts (2016-2024)

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