Global Sodium Acetate Market Top Key Players: Gelest, Daito Chemical, American Elements, Shanxi Xinzhou Chemical, Sisco Research Laboratories (SRL), Karn Chem, HiMedia Laboratories., CABB, Niacet, Changshu Nanhu Chemical, Nantong Zhongwang, Spectrum Chemi

Sodium Acetate Market will surpass USD 220 million by 2024; according to a new research report by Global Market Insights, Inc. Sodium acetate, also known as sodium ethanoate, is the sodium salt of acetic acid. It is used in various end-user industry including food, leather & textile, medical & pharmaceutical, etc. 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. For instance, Government of India launched initiatives such as Technology Upgradation Fund Scheme (TUFS) with the investment of more than USD 41 billion and Scheme for Integrated Textile Parks (SITP) with investment of USD 692 million in 2016 to strengthen the textile sector in India.

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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. Increasing population is treading towards sedentary lifestyle due to which demand for packed meals has augmented significantly, considering that the lure of not requiring preparing meals from scratch after a busy day is way too tempting. Taking the advantage of current economic and social trend, packed and frozen food will witness a sharp growth over next few years. This will lead to increase in use of sodium ethanoate which will drive the product market in next seven years down the line.

Sodium acetate market has been fragmented on the basis of end-user, product and region. The product segment includes trihydrate and anhydrous sodium acetate. Among these, trihydrate product will hold around two third of the total sodium acetate market throughout the forecast span. Trihydrate form is less expensive than anhydrous and also finds its usage in leather & textile and other end-user industries owing to its excellent hydrophilic, pH controlling and other features.

Leather & textile, food, medical & pharma are the major end-user segments in sodium acetate market. Minor end-user industries include polyester fiber, photography, etc. and have been considering in the others segment. In terms of revenue, medical & pharmaceuticals will likely generate over USD 70 million in 2024. This is owing to the wide usage of the product as an ingredient for diuretic, expectorants and systemic alkalizer in drugs, also used to form re-usable heating pads due to the superior physical and chemical properties.

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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 key producers in the sodium acetate market includes Gelest, Daito Chemical, American Elements, Shanxi Xinzhou Chemical, Sisco Research Laboratories (SRL), Karn Chem, HiMedia Laboratories., CABB, Niacet, Changshu Nanhu Chemical, Nantong Zhongwang, Spectrum Chemical, Cayman Chemical, Tokyo Chemical Industry (TCI), Avantor Performance Materials, Nandosal Chem Industries, etc.

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