Sodium acetate (CH3COONa), is also known as sodium ethanoate. Sodium acetate has a strong affinity towards water, and it adsorbs moisture if exposed to the atmosphere. Sodium acetate is commonly used for the industrial purpose, such as in the food industry, in buffer solution, heating pads, and also for ester production.
An increasing adoption of sodium acetate in various end-use industries such as pharmaceutical, food, leather and textile, is a major factor anticipated to drive the growth of the global sodium acetate market over the forecast period. In addition, the increasing R&D in pharmaceutical industry and for molecular biology, is another factor expected to bolster the growth of the target market. However, the availability of substitutes may hamper the demand of sodium acetate and restrain the growth of the global market over the forecast period.
The global sodium acetate market is segmented on the basis of product type, end-user, and region. On the basis of product type, the global market is segmented into sodium acetate anhydrous and sodium acetate trihydrate. The sodium acetate trihydrate segment is expected to witness a high growth over the forecast period.
On the basis of end-user, the global market is segmented into pharmaceutical, food, leather and textile. The leather and textile segment is anticipated to witness a highest growth in terms of revenue in the global market over the forecast period, followed by pharmaceutical segment.
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On the basis of region, the global sodium acetate market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Asia Pacific market is accounted for a higher share in terms of revenue in the global market, due to an increasing adoption of the product in end-use industries. The North America market is expected to witness a significant growth in the global market over the forecast period, followed by Europe. The Latin America and Middle East and Africa are at a nascent stage of the global market and expected to register a moderate growth rate over the forecast period.
Key players in the global sodium acetate market are Niacet Corporation, Changshu Nanhu Chemical Co., Ltd., CABB GmbH, GELEST, INC., American Elements, Spectrum Chemical Manufacturing Corp., ALLAN CHEMICAL CORPORATION, Thermo Fischer Scientific Inc., Cayman Chemical, and Merck KGaA.