Global Market for Sodium Acetate Trihydrate and Sodium Acetate Anhydrous Restrained By Easy Availability of Substitutes
Sodium acetate, also known as sodium ethanoate, is synthesized by reacting acetic acid with sodium carbonate or sodium hydroxide. Generally, sodium acetate trihydrate is in a crystalline powder form which bears an acetic odor, whereas sodium acetate anhydrous is available in a granular and hygroscopic powder form. The sodium acetate anhydrous and sodium acetate trihydrate global market is anticipating a substantial growth in the coming years. The diversity of its application across many end-use industries is driving the demand from the global market. On the flip side, the availability of numerous substitutes, especially in the pharmaceuticals and food segments, is expected to hamper the growing demand for global sodium acetate trihydrate and sodium acetate anhydrous market.
In 2013, the global market for sodium acetate trihydate stood at US$35.27 million and is expected to reach US$47.64 million by the end of 2020 at a substantial 4.4% CAGR between the years 2014 and 2020. In case of the sodium acetate anhydrous global market, it was worth US$42.93 million in 2013 and is expected to touch US$61.17 million by the end of 2020 at a progressive 5.2% CAGR between the years 2014 and 2020.
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Application in Pharmaceutical Industry Leads Global Market
The sodium acetate trihydrate and sodium acetate anhydrous global market finds its application in industries such as food, medical and pharmaceuticals, leather and textiles, and others (such as photography, detergents, and agriculture).
The pharmaceuticals industry is considered one of the largest application segments on the basis of consumption of sodium acetate and is expected to grow substantially at a 6% CAGR between the years 2014 and 2020. The pharmaceuticals industry makes use of sodium acetate trihydate in mineral drinks as an electrolyte and also in dialysis. It is also used as a phase change component in heating pads. In case of the sodium anhydrous market, the pharmaceuticals industry held about 28% of the global market in 2013 and is considered as the second largest end-use industry. It is used in the process of drug formulations and intravenous fluids.
In food industry, the use of sodium acetate trihydrate is quite low, owing to the wide range of substitutes readily available in the market. Due to this, the sodium acetate trihydate market is experiencing a drastic fall in demand from the food industry. On the contrary, the demand for sodium acetate anhydrous is anticipated to touch US$7.56 million by the end of 2020.
Leather and Textiles Industry
In 2013, the sodium acetate trihydrate and sodium anhydrous market experienced a boost in demand from the leather textiles market and held around 35% of the total market. Sodium acetate trihydrate is widely used as a pickling and buffering agent in the leather tanning industry and it is also used as a mordant in the process of dyeing of textiles.
The global market for sodium acetate trihydrate and sodium acetate anhydrous is segmented geographically into the four broad sections of Asia Pacific, North America, Europe (sub-segmented as Russia and Rest of Europe), and Rest of the World. In 2013, Asia Pacific dominated the global market, accounting for 21.6% of the total market in terms of application and consumption. North America followed North America in the global market hierarchy.
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Clear Leaders Fail to Emerge in Fragmented Sodium Acetate Anhydrous and Sodium Acetate Trihydrate Market
The global market for sodium acetate anhydrous and sodium acetate trihydrate is very fragmented owing to the high number of large- and small-scale companies operating in the industry. There is no sole leading player in the industry; however, some of the key players of the market are Spectrum Chemical Manufacturing Corporation, Karn Chem Corporation, Niacet Corporation, Fujian Fukang Pharmaceutical Co., Ltd., Shanxi Xinzhou Chemical Reagent Factory, CABB GmbH, NOAH Technologies Corporation, Allan Chemical Corporation, Changshu Nanhu Chemical Co., Ltd., and Nantong Zhongwang Additives Co., Ltd.
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