Albany, NY -- (SBWIRE) -- 09/21/2017 -- An uptick in the demand for sodium acetate trihydrate and sodium acetate anhydrous market will lead to moderately healthy growth in both these markets to 2020, says a latest study published by Transparency Market Research. The report, "Sodium Acetate Trihydrate and Sodium Acetate Anhydrous Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014-2020," is composed of sharp insights and an array of informative tables and charts.
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The report projects the global sodium acetate trihydrate market to stand at US$47.64 million by 2020. The market, which approximated US$35.27 million in 2013, will thus register a 4.4% CAGR from 2014-2020. The CAGR of the global sodium acetate anhydrous market is expected to be slightly higher (during the same period) at 5.2%. The sodium acetate anhydrous market was valued at US$42.93 million as of 2013 and will reach US$61.17 million by the end of 2020.
Growth in both markets for the sodium acetate variants will be spurred chiefly by a notable increase in demand from end-use industries. The industries that have been indentified as key demand generators for sodium acetate trihydrate and sodium acetate anhydrous are: Leather tanning, pharmaceutical, food, and healthcare. Companies operating in the sodium acetate trihydrate market and sodium acetate anhydrous market will, however, have to brave headwinds in the form of easy and affordable availability of substitutes. Some of the key substitutes for the two sodium acetate variants are: Sodium citrate, benzoic acid, and calcium sorbate.
The degree of substitution is seen to be especially high in industries such as pharmaceutical and food.Global Sodium acetate trihydrate and sodium acetate anhydrous market players can, however, cope with this threat by introducing novel sodium acetate applications. If achieved successfully, this could be the next milestone for the global sodium acetate trihydrate and sodium acetate anhydrous markets.
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The report observes that in 2013, the textile sector generated the majority of the demand for sodium acetate trihydrate, with an appreciable 35% share of the demand pie, in terms of volume. Sodium acetate trihydrate finds use as a pickling and buffering agent in the leather tanning sector. The textile industry also needs to use it as a mordant during dyeing.An analysis of the global consumption of sodium acetate reveals that the pharmaceutical segment generated the second highest demand for the chemical. This segment is registering a 6% CAGR between 2014 and 2020, in revenue terms.
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The substantial use of sodium acetate trihydrate in the form of an electrolyte, especially in dialysis and in mineral drinks can be attributed as the reason for the high demand. Furthermore, sodium acetate trihydrate is employed as a phase-change material in heating pads. Besides generating high demand for sodium acetate, the pharmaceutical industry was also seen to be the second-largest user within the sodium acetate anhydrous market globally, with an impressive 28% share of the market as of 2013. Drug formulations and intravenous fluids call for the use of sodium acetate anhydrous.
The report discusses the minor yet crucial role played by the food industry in driving up the demand for sodium acetate trihydrate. However, the food sector also widely uses substitutes for this substance, causing a dilution in demand. The demand for sodium acetate anhydrous from the food and beverages industry is likely to rise to US$7.56 million by 2020. Some of the other important consumers of sodium acetate anhydrous are: Polymers, the agriculture sector, and detergents.
Global Sodium Acetate Trihydrate and Sodium Acetate Anhydrous Market Report is available at US$ 5795 - http://www.transparencymarketresearch.com/checkout.php?rep_id=2996