Sodium Acetate Market Trend & Forecast | 2023-2028

Market Insights

The Sodium Acetate Market is expected to grow from USD 140.05 million in 2022 to USD 220.79 million by 2028 at a healthy CAGR of 7.88% during the forecast period of 2023-2028.

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What is Sodium Acetate?

Sodium acetate is an organic sodium salt containing acetate. It is soluble in water and finds a wide range of uses, such as additives in the food industry, heating pads, concrete manufacturers, and buffer solutions.

Market Drivers

The sodium acetate market drivers include the following factors:

• Usage in Food preservation and flavor enhancer - Sodium acetate prevents bacteria cultivation which helps in food preservation and adds a sour taste. Hence, to enhance flavor and extend the shelf-life of processed foods, the usage of sodium acetate is growing.
• Growing demand from the leather industry: Sodium acetate is used as washing salt in the leather industry. It is used to tan leather and to remove hair from hides. The growing demand from the leather industry is expected to drive the market growth.
• Rising medical applications – Sodium acetate is preferred by many medical centers as an adequate alternative to sodium bicarbonate, which is central to the treatment of many poisonings. Also, sodium acetate is used as an alternative to normal saline that prevents hyperchloremic metabolic acidosis. The growing usage of sodium acetate in the medical industry, overall, is expected to drive market growth.
• Expanding applications in the building and construction industry – Sodium acetate is used in the building and construction industry for multiple purposes such as a concrete sealant, a fire retardant, etc. The expanding building and construction industry directly increases the usage of sodium acetate driving the global market.

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Key Players

Some of the major players in the market are-

• American Elements
• CABB GmbH
• Changshu Nanhu Chemical Co., Ltd.
• Gelest, Inc.
• Karn Chem Corporation
• Niacet Corporation
• NOAH Technologies Corporation
• Sisco Research Laboratories Pvt. Ltd.
• Spectrum Chemical Manufacturing Corporation
• Tokyo Chemical Industry Co., Ltd.

Segments Analysis

By Product Type

The market is segmented into trihydrate and anhydrous. 

The sodium acetate trihydrate market is estimated to account for the major share of the market during the forecast period owing to its extensive utilization in the leather & textile industry as a pickling and buffering agent.

In addition, the excessive cost of anhydrous sodium acetate is also expected to indirectly fuel the trihydrate sodium acetate demand in the market.

Sodium Acetate Market Share: By End-User Type

The market is segmented into leather & textiles, food, medical & pharmaceuticals, and others. 

The leather & textile industry and the medical & pharmaceutical industry are estimated to be the dominating segments, collectively accounting for the major share of >60% of the market during the forecast period.

This growth can be attributed to the superior physical characteristics, such as high density and solubility, offered by the product, fueling the overall industry growth.

By Region

Asia-Pacific is estimated to be the leading region in the market on account of increasing product demand and the rapidly growing leather & textile and food industries in the region during the forecast period.

On the other hand, North America is estimated to witness significant growth in the market over the forecast period. The growth of the region can be attributed to the rising medical & pharmaceutical industry during the forecast period.

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The market is segmented into the following categories. 

By Product Type

• Trihydrate (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Anhydrous (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

By End-User Type

• Leather & Textile (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Food (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Medical & Pharmaceuticals (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

By Region

• North America (Country Analysis: the USA, Canada, and Mexico) 
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. 

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. 

We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

The following are the key features of the report:

• Overview, industry life cycle analysis, supply chain analysis.
• Environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Trend and forecast analysis.
• Segment trend and forecast.
• Competitive landscape and dynamics: Market share, product portfolio, Technology launches, etc.
• Attractive segments and associated growth opportunities.
• Emerging trends.

Target Audience

The following is a list of the customers that the market aims to convert the most:

• Manufacturers
• Suppliers
• Distributors
• Organizations
• Government bodies

Customization Option

Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: 

Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.