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Acetate Salt Market size 2019, By Product Type, Application, Demand, Region-Forecasts and Key Players, Dow, Allan Chemical Corporation, NOAH Technologies, CABB GmbH
Acetate Salt Market
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Acetate salt has major application in pharmaceutical industry, as a result its market has grown at a significant pace in recent years. Pharmaceutical manufacturing is booming in developing countries like China and India due to favouring government policies for their establishment. Collaboration of different companies with established organisations such as Emcure, Centaur, Ranbaxy, Cipla had developed this industry with regards to technological advancements. Thus, enhancing pharmaceutical industry is the major driving factor for acetate salt market.
Biotechnology industry has emerged extensively in last decade and continuous research and development activities are being carried out in this field. Acetate salt is used in this industry to manufacture protein based drugs. Moreover, biotechnology is the need of the day due to its application in various fields like agriculture, chemical laboratories, botany etc. This technology is used in agriculture to improve the yield of crops and soil fertility. Further, growing biotechnology industry leads to the upliftment of acetate salt market.
Asia Pacific accounts for significant share in terms of volume in acetate salt market owing to its flourishing textile, paints, agriculture and chemical industry. Countries such as India and China are developing in chemical and pharmaceutical industry due to the establishment of numerous foreign companies. Positive outlook of these industries will keep the region dominant in coming years. North America is a substantial contributor in the global acetate salt market due to its well established pharmaceutical industry.
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Moreover, textile industry is flourishing at a rapid pace in the U.S. due to improved living standard and rising income levels of youth in this country. These factors have made North America a consistent region in the market. Infrastructural development in Europe has led to escalating construction activities, especially in Germany, Spain and Italy. This has increased paints & coating consumption, resulting in growing usage of acetate salt. MEA and Latin America are at a nascent stage in this market but is anticipated to witness a modest growth during the forecast period.
The key players manufacturing acetate salt market are Amresco LLC, Avantor Performance Materials, J.M. Loveridge Ltd., Alfa Aesar, Solvay, Merck Millipore. There are many other manufacturers in the market that includes Dow Chemicals, Allan Chemical Corporation, NOAH Technologies Corporation, CABB GmbH, Niacet Corporation, Chang Shu Nan Hu Chemical Co., Ltd., Jost Chemicals.
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