Acetate Salt Market Size, Global Forecast 2022-2028
The global acetate salt market size was valued at USD 1.1 billion in 2021 and is poised to grow at a significant CAGR of 1.6% during the forecast period 2022-28. The increased need for food, chemicals, and building materials is the main factor driving the global market for acetate salts. In the textile sector, sulfuric acid is neutralized using it, and additionally, it is employed in concrete structures worldwide as a water barrier. In the Middle East and Asia Pacific's rapidly diminishing freshwater supplies, are driving up the demand for acetate salt for water treatment. Additionally, different industries are recovering magnesium salt from brine and aluminum salt from aluminum hydroxide to lower the investment required to install essential water treatment equipment. In addition, the demand for frozen and canned foods is rising globally due to increasing urbanization and population growth.
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Food Processing Segment to Dominate the Acetate Salt Market
The food processing segment is expected to account for a larger revenue share in the global acetate salt market, with a value share worldwide. It is projected to grow at a 2.3% CAGR between 2022 and 2028. In some food products, potassium acetate and calcium acetate are used as low-sodium substitutes. Acetate salts are typically added to food products in weights ranging from 0.2% to 0.5%. Along with acids, these salts are employed as flavourful components in a variety of prepared foods, as well as growth inhibitors for mold and bacteria in meat-based dishes. Acetate salts are utilized in potato chips and other foods because they give food a vinegar-like flavor. The market for acetate salt is expanding due to increased global demand for frozen foods and the implementation of stricter government restrictions.
The global acetate salt market is segmentation:
- By Product Type: Sodium acetate, Calcium acetate, Zinc acetate, Potassium acetate, Others
- By End-user Industry: Pharmaceutical, Food Processing, Water Treatment, Petrochemical, Cosmetic, and Others (Construction and Textile industries)
Asia Pacific Acetate Salt Market
The Asia Pacific market is expected to increase in the global acetate salt market over the forecast period. It is projected to grow at a CAGR of 2.4% in the coming years. Asia-Pacific is experiencing significant growth in all key end-user segments of the acetate salt market, including the water treatment, pharmaceutical, food processing, laboratories, textile, dyes, and rubber industries. This growth is due to rapid industrialization and urbanization, growing populations, dynamic economic development, and improved living standards.
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Key players’ profiles in the acetate salt market report are Jost Chemicals, Shepherd Chemical Company, Wuxi Yangshan Biochemical, Chang Shu Nan Hu Chemical Co., Ltd., Karn Chem Corporation, Nantong Zhongwang Additives Co., Ltd, Niacet Corporation, Shanxi FanRongFu Chemical Factory, CABB GmbH, FRP Services & Company, NOAH Technologies Corporation, Allan Chemical Corporation, and DuPont.
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