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What are the Growth Drivers and Trends Acetate Salt Market , Key Players and Import-Export Forecast to 2026
Acetate Salt
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.
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. They are further segmented as follows:
By product type, the market has been segmented into
Sodium acetate
Calcium acetate
Zinc acetate
Potassium acetate
Others
By end-user industry, the market has been segmented into
Pharmaceutical
Food Processing
Water Treatment
Petrochemical
Cosmetic
Others (Construction and Textile industries)
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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.
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.
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: Jost Chemicals, Dow Chemicals Company, Shepherd Chemical Company, Karn Chem Corporation, Chang Shu Nan Hu Chemical Co., Ltd., Wuxi Yangshan Biochemical, NOAH Technologies Corporation, Allan Chemical Corporation, CABB GmbH, Nantong Zhongwang Additives Co., Ltd, Shanxi FanRongFu Chemical Factory, Niacet Corporation, Among Others.
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