Acetate salts are clear and colorless crystals or liquid (in aqueous form) derived from acetic acid. Acetate salts are low toxic compounds that provide good buffering properties—ability to maintain solutions at relatively constant pH despite changes in acid or base concentration. These salts are extensively utilized in various end user industries such as pharmaceuticals, food processing, and water treatment industries, among others.
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.. Moreover with the increase in population and growing urbanization, rapid adoption of frozen and canned food demand increasing across the globe..
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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. Furthermore, high consumption of frozen and canned food in the region is a major factor driving growth of the acetate salt market in North America.
However, Asia-Pacific, currently the second largest market, is expected to witness maximum growth rate during the forecast period (2016-2024). Owing to factors such as rapid industrialization & urbanization, growing population, dynamic economic development and improved standard of living, Asia-Pacific is currently witnessing significant rise in all major end-user segment of acetate salt market such as pharmaceuticals, food processing, and water treatment industries, laboratories textile industries, dyes industries and rubber industries, among others.
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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.
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