Calcium Acetate Market Forecast 2024
The calcium acetate market growth is highly reliant on demand from pharmaceutical and water treatment applications. The product finds its usage as a phosphate binder in the pharmaceutical industry during dialysis of patients with severe kidney diseases and during the treatment of hyperphosphatemia. Owing to its use as an essential ingredient in anti-epileptic drugs, product demand is significantly high in pharmaceutical industry. Calcium acetate is used in wastewater treatment plants in municipal and industrial facilities. Increasing product demand in food & beverage industry as preservative and food additive is projected to drive the calcium acetate market growth.
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In addition, product is used as an acetic acid substitute in food & beverage industry which will further increase the product demand in near future. However, easy availability of substitute for similar applications, such as agar, gelatin in food industry may restrain the calcium acetate market growth in the coming years.
Changing consumer preferences from food preservation to organic food products may also affect the calcium acetate market growth over the forecast period. This shift is compelling food industry to align its interests to the organic food products which are likely to hamper the product demand in food & beverage industry. The prolonged exposure of calcium acetate to skin and eyes or inhalation may cause irritation, and these harmful effects may also show a moderate impact on the growth of calcium acetate market.
Calcium acetate is majorly used as a food preservative and to increase the shelf life of bakery products and processed meat. It is used in milk powder, dairy products, condensed milk, and cream. Calcium acetate’s use in direct food substances, ingredients and in food coating is considered to be safe by FDA and GRASSS. Furthermore, it is employed in the manufacturing of printing inks, lubricants, soaps, resins, carbon black and various others in the chemical industry.
Calcium acetate is also used as a blowing agent by PVC foam manufacturers. Due to its various uses, the product shall witness rising demand from several end-user industries such as chemical, building & construction, food & beverage, textile, and petroleum during the forecast timeframe. Steadily expanding end-user industries in Asia Pacific, Latin America and MEA are likely to offer new opportunities for calcium acetate market growth, especially in consumer goods and construction industry.
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Asia Pacific and Latin America are likely to witness high product demand due to increasing product applications particularly in food & beverage industry. Moreover, rising population and changing lifestyle in emerging economies of Asia Pacific has led to surged product demand in food & beverage and pharmaceutical industry. Growing industrialization coupled with increasing foreign direct investments (FDI) in the end-user industries is predicted to drive the calcium acetate market growth in countries like India, Vietnam and Indonesia.
However, changing consumer lifestyles post global financial crisis and market saturation are expected to affect the product demand in China. U.S. and Europe have invested enormous amounts in product R&D to increase its application base which will result in elevated calcium acetate market size growth opportunities in the coming years. Increase in pharmaceutical infrastructure in Middle East region shall have positive impact on calcium acetate market over the forecast timespan.
Prominent vendors operating in global calcium acetate market includes Allan Chemical Corporation, Nithyasri chemicals, Akshay group of companies, Solvay, Amresco LLC, Alfa Aesar, Merck KGaA, J.M. Loveridge Ltd., GFS Chemicals Inc, Amsyn Inc, Macco Organiques Inc. and Niacet Corporation, among others. In August 2017, Niacet corporation announced an expansion of its sodium and calcium propionate production capacity of 75 million pounds. Niacest is the largest producer of sodium propionate and calcium propionate globally. It will use this new cost-effective facility to improve its services to meet global demand in pharmaceutical, feedand food applications for both new and existing customers. This expansion is expected to stream from 2018.
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