Sodium Acetate Market Analysis

Sodium Acetate Market Analysis

Sodium acetate market is segmented into trihydrate and anhydrous products. Among these, sodium acetate trihydrate was valued at over USD 65 million to seize around 60% of the entire industry share in 2016. The product is used extensively in leather & textile industry as a pickling and buffering agent. Moreover, it is employed in dyes which are further used for textile printing such as dyeing silk, wool and other natural fabrics.
 

Anhydrous sodium acetate held over 35% of the total market share in 2016 and will lose its market share in coming years due to its excessive cost. This in turn, will strengthen the trihydrate sodium acetate market penetration by 2024.
 

Leather & textile and medical & pharmaceuticals are the dominant end-user industries in sodium acetate market together accounting for more than 60% of the entire market share and will grow at a significant rate. The product is majorly used as a washing salt in the leather industry and mordant in textile & leather industries owing to its superior physical properties such as high solubility, density, etc. It is also employed to increase the uptake of dye and protect it from light during the dying process. Moreover, it removes electrostatic force during cotton processing in textile industry.
 

Food industry accounted for over USD 26 million for sodium acetate market in 2016. The product finds its usage as a preservative and to prolong shelf life of food items such as meat, poultry, dairy products, etc. It is mixed with vinegar to create a specific flavor in some of the delicacies and also used as seasoning agent. Positive growth in food industry especially in emerging economies will positively stimulate the sodium acetate market demand in next coming years.
 

Asia Pacific was major contributor to the sodium acetate market and the region accounted for around 55% of the global sodium acetate market in 2016. Its market share is likely to expand in the near future, owing to growth in leather & textile, food and other industries in the region. Rising demand from food industry for preservation of dairy products with rapidly growing leather & textile industry will contribute towards the sodium acetate market development in future.
 

North America had a market share of more than 18% of global sodium acetate market in 2016 and is anticipated to expand at moderate pace over the forecast period. This can be attributed to the growth in the regional medical & pharmaceutical industry. Europe held over 15% share of the overall sodium acetate market and will lose its share in coming years owing to the stringent environmental regulations and high import duties on raw materials.