Acetate Salt Market to Receive overwhelming hike in Revenues, 2016 – 2024
The global market for acetate salts is primarily driven by growing demand of food, chemicals and construction industry. It is used to neutralize sulfuric acid in the textile industry. Moreover it is used as a barrier to water in the concrete structures across the globe.
Other factors including rapid depletion of fresh water reserves in countries in Asia Pacific and the Middle East fueling demand for acetate salt for water treatment, to recover magnesium salt from brine and aluminum salt from aluminum hydroxide by various industries to reduce investment made for raw water treatment equipment installation.. Moreover with the increase in population and growing urbanization, rapid adoption of frozen and canned food demand increasing across the globe..
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However, the market faces certain drawbacks such as presence of benzoic acid and sodium benzoate that are commonly used as food preservatives, which are easily available in the market and rapidly maturing market in developed economies of North America and Europe, inadvertently leading to plunge in profitability.
Opportunities and Major Players
Sodium acetate is used to neutralize the sulfuric acid from waste pipes in the textile industry. Burgeoning growth of the textile industry, especially in Asia Pacific is expected to boost growth of the market over the forecast period.
The market of acetate salt is highly fragmented, with the presence of only few global players. Majority of the players in this market are local players, with better access to distribution in their local market.
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