Sodium acetate is a chemical compound synthesized by the reaction between acetic acid with sodium carbonate. Sodium acetate trihydrate has an acetic odor and is crystalline in nature. These compounds are non-toxic and non-flammable in nature. These two compounds are widely used in the pharmaceutical, leather & textiles, healthcare& food, personal care, and plastics.
The global sodium acetate trihydrate & sodium acetate anhydrous market is expected to surpass US$ 1, 59,331.5 Thousand in terms of value by the end of 2028.
Growing demand for the product from food &beverage industry is expected to foster the market growth of sodium acetate trihydrate & sodium acetate anhydrous. Sodium acetate trihydrate is used as preservatives and flavoring ingredients in the food products. Therefore, growing demand for ready-to-eat food the industry is driving demand for preservatives. The busy lifestyle of the consumers is fueling demand for ready-to-eat food products which in turn augmenting the market growth of the sodium acetate trihydrate & sodium acetate anhydrous.
Increasing population coupled with the growing disposable income of the consumers is projected to serve major opportunities in the market growth of the sodium acetate trihydrate & sodium acetate anhydrous. The rise in the various manufacturing industries around the globe is also expected to augment the market growth over the forecast period. Moreover, the growing use of the sodium acetate in the water treatment application is further anticipated to accelerate the market growth of the sodium acetate trihydrate & sodium acetate anhydrous in the near future.
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Global Sodium Acetate Trihydrate & Sodium Acetate Anhydrous Market: Recent Developments
The presence of a large number of substitutes is hampering product demand. For instance, sodium citrate can be used in place of sodium acetate in the dialysis fluid. Also, it can be used as an anticoagulant and antioxidant. Moreover, it has higher biocompatibility than sodium acetate. Thus, the availability of substitute is hindering the market growth of the sodium acetate trihydrate & sodium acetate anhydrous.
Global Sodium Acetate Trihydrate & Sodium Acetate Anhydrous Market - Impact of Coronavirus (Covid-19) Pandemic
The Covid-19 outbreak has had an adverse impact on various industries around the globe. Due to the strict rules and regulations undertaken by government to curb the spread of the infection, companies are looking to function remotely. Moreover, various companies are looking to implement strict measures to operate at minimum risks. Additionally, various companies had shutdowns their manufacturing units which had an adverse impact on sodium acetate trihydrate & sodium acetate anhydrous market.
Figure 1. Global Sodium Acetate Trihydrate & Sodium Acetate Anhydrous Market Value (US$ Thousand), by Product Type, 2020
Increasing use of the sodium acetate in plastic production is a growing trend in the market. Growing production of plastic around the globe in order to meet the rising demand is expected to foster the market growth of the sodium acetate trihydrate & sodium acetate anhydrous. Moreover, increasing demand for dyes for textile printing such as wool, dyeing silk, and natural fabrics is again anticipated to augment the market growth of the sodium acetate trihydrate & sodium acetate anhydrous over the forecast period.
The growing use of sodium acetate in applications such as photography, electronics products, galvanization, laboratories, and chemical agents is expected to stimulate the growth of the market. Moreover, it is also used in the production of detergents. Therefore, the growing demand for detergent due to rising hygiene awareness and improving living of standard is projected to foster market growth. Furthermore, driving demand for sodium acetate from animal feed applications is further expected to propel the market growth of sodium acetate trihydrate & sodium acetate anhydrous.