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Sodium Acetate Market to see robust growth by 2024; High product demand in APAC and North America

Author : Ravi Chawat | Published Date : 2020-10-01 

The worldwide sodium acetate market, as per the end user spectrum, is segmented into food, medical and pharmaceuticals, and leather and textile.

The medical and pharmaceuticals sector is likely to perform exceptionally well over the forecast period owing to the large scale usage of sodium acetate in various drugs and heating pads. Sodium acetate furnishes strong physical and chemical properties to find proper usage across the aforementioned industries.

Apparently, the medical and pharmaceuticals segment is anticipated to be valued at revenue USD 70 million by the end of 2024.

Food industry, on the other hand, would generate substantial proceeds in the global sodium acetate market share on the grounds of proliferation of packaged food consumption. 

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High product demand in APAC and North America

With respect to regional expanse, APAC and North America sodium acetate markets could emerge as key revenue terrains in the near future. Both the regions will together be responsible for nearly 70% of the total market share, which is indicative of the tremendous packaged food & beverage demand across countries like the U.S., Canada, China, India, Japan and many others.

Considerable production, low cost of labor and raw materials coupled with mature food processing and textile industry in APAC will support regional product demands. On the other hand, developed pharmaceutical industry in North America due to the need for advanced medical services as well as high disposable income among people will support the need for the compound.

Trihydrate sodium acetate to witness traction

Trihydrate sodium acetate has gained considerable recognition in the product domain, since the compound is less expensive as compared to its alternatives. It also finds integral use in the textile and leather industries due to superior hydrophilic, pH controlling characteristics.

Globally, the demand for textiles is only increased with the growing population, purchasing power and expanding modes of product distribution. Leather products have sustained market demand with the popularity of fashion trends and availability of numerous buying option.

Some of the leading sodium acetate companies worldwide include Tokyo Chemical Industry, Nandosal Chem Industries, Avantor Performance Materials, CABB, Daito Chemical, American Elements and Shanxi Xinzhou Chemical, among various others.

Browse More News:

https://www.globenewswire.com/news-release/2016/10/18/880265/0/en/Specialty-Chemicals-Market-size-worth-1-273-billion-by-2024-Global-Market-Insights-Inc.html

https://www.globenewswire.com/news-release/2020/04/01/2010390/0/en/Titanium-Dioxide-Market-is-slated-to-surpass-27-billion-by-2026-Says-Global-Market-Insights-Inc.html

 

 

About Author

Ravi Chawat

Ravi Chawat

Ravi Chawat holds a bachelor's degree in Electronics and Telecommunication Engineering. He has worked closely with industry specialists from different segments including chemicals, food and beverages, construction and manufacturing & energy and power. Ravi's article concentrates principally on balancing relevant data but never at the expense of making the content engaging. He believes in giving fair-minded information to guide significant business choices. [email protected] | https://twitter.com/RaviChawat

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