Albany, NY -- (SBWIRE) -- 03/09/2015 -- Sodium Acetate Trihydrate and Sodium Acetate Anhydrous Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020

Transparency Market Research has released a new market report titled "Sodium Acetate Trihydrate and Sodium Acetate Anhydrous Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020." According to the report, the global sodium acetate trihydrate market was valued at USD 42.93 million in 2013 and is anticipated to reach USD 61.17 million by 2020, expanding at a CAGR of 5.2% between 2014 and 2020. The global sodium acetate anhydrous market was valued at USD 35.27 million in 2013 and is expected to reach USD 47.64 million by 2020, growing at a CAGR of 4.4% between 2014 and 2020.

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Increasing demand for sodium acetate trihydrate and sodium acetate anhydrous from end-user industries across the globe is the driving sodium acetate market. Food, leather tanning and medical & pharmaceuticals are among the major applications of sodium acetate trihydrate and sodium acetate anhydrous. However, the availability of large number of substitutes such as sodium citrate, benzoic acid and calcium sorbate especially for food and pharmaceutical applications is likely to hamper market growth. Novel applications of sodium acetate are anticipated to offer new opportunities in the market in the near future. 

Leather & textiles, the largest end-use industry segment for sodium acetate trihydrate, dominated the global market and accounted for over 35% of the total volume in 2013. Sodium acetate trihydrate is used extensively in the leather and textile industry as a pickling and buffering agent. It is also used as a mordant in dyeing of textiles. Leather & textiles was followed by medical & pharmaceuticals, which is expected to grow at a CAGR of about 6% in terms of revenue from 2014 to 2020. Sodium acetate trihydrate is used in the medical & pharmaceuticals industry as an electrolyte. It is used in dialysis and in mineral drinks. Sodium acetate trihydrate is also used as a phase-change material in heating pads. The demand from food industry for sodium acetate trihydrate is growing at a sluggish rate due to availability of large number of substitutes. 

Leather & textiles emerged as the largest end-use industries of sodium acetate anhydrous in terms of volume and revenue in 2013. Medical & pharmaceuticals was the second largest consumer of sodium acetate anhydrous and accounted for over 28% of the global sodium acetate anhydrous market in 2013. Sodium acetate anhydrous is widely used in drug formulations and intravenous fluids. The demand of sodium acetate anhydrous in the food industry is expected to reach USD 7.56 million by 2020. Other end-use industries in the sodium acetate anhydrous market include agriculture, detergents, polymers, etc.

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Asia Pacific led the global sodium acetate trihydrate and anhydrous market in terms of volume and revenue in 2013. Asia Pacific accounted for over 55% of the global sodium trihydrate market in terms of volume in 2013. This can be attributed to the large number of leather tanning facilities in the region. North America emerged as the second largest market of sodium acetate and anhydrous market in 2013. The high demand for sodium acetate anhydrous in the North America medical and pharmaceuticals industry is expected to augment the growth of the market in the near future. The European sodium acetate trihydrate market was valued at just under USD 8 million in 2013. The demand of sodium acetate trihydrate is significant in Europe owing to high demand from Spain and Italy from leather & textile industries. The Rest of the World market is expected to grow at moderate rate during the forecast period.

The global sodium acetate and trihydrate industry is highly fragmented in nature; there is no clear leader in the market. Major industry participants in the market include Allan Chemical Corporation, CABB GmbH, Changshu Nanhu Chemical Co., Ltd., Fujian Fukang Pharmaceutical Co. Ltd. and Karn Chem Corporation.
This report segments the global sodium acetate trihydrate and sodium acetate anhydrous market as follows:

Sodium Acetate Trihydrate Market - End-use Industries Analysis
Leather & textiles
Food
Medical & Pharmaceuticals
Others (Including, Agriculture, Detergents, Photography, etc.)

Sodium Acetate Trihydrate Market - Regional Analysis
North America
Europe
Russia
Rest of Europe
Asia Pacific
Rest of the World
Sodium Acetate Anhydrous Market - End-use Industries Analysis
Leather & textiles
Food
Medical & Pharmaceuticals
Others (Including, Agriculture, Detergents, Photography, etc.)

Sodium Acetate Anhydrous Market - Regional Analysis
North America
Europe
Russia
Rest of Europe
Asia Pacific
Rest of the World?

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