Sodium acetate market from medical & pharmaceuticals end-user segment is estimated to be worth more than US$70 million by 2024
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Based on the end-user, sodium acetate market is segmented into leather & textile, medical & pharma, food processing, and others. The others segment mainly includes polyester fiber and photography. Medical & pharmaceuticals end-user segment is estimated to be worth more than US$70 million by 2024. Sodium acetate is prominently used as an expectorant, diuretic, and systemic alkalizer in drug formulations. In addition, the compound is used to manufacture reusable heating pads on account or superior chemical and physical characteristics.
The availability of large number of alternatives in the market will be a major growth restraining factor sodium acetate industry. Sodium citrate is one such example, which can replace sodium acetate in dialysis fluids and is extensively used as an antioxidant and anticoagulant. In comparison to sodium acetate, the biocompatibility of sodium citrate is significantly higher. This can be associated with the fact that sodium citrate is a natural metabolite with excellent anti-inflammatory properties.
However, rapid expansion of various end-use industries in both developed and emerging regions, including North America and Asia Pacific, will bolster sodium acetate industry outlook in the forthcoming years.
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In the last few years, sodium acetate market has witnessed vast commercialization prospects due to widespread use across various business verticals such as leather and textile, food processing and pharmaceutical industry. Prominently used as a food preservative, sodium acetate has registered extensive use as a neutralizing agent, buffering and pickling agent as well as diuretic agent.
Rapid industrialization along with high FDI investment in developing countries has spurred the growth potential of the aforementioned industry verticals, that has positively influenced the consumption of the compound worldwide. According to reports, sodium acetate market size could cross USD 220 million in annual remunerations globally by 2024.
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