Sodium Acetate Trihydrate & Sodium Acetate Anhydrous Market to Flourish at 9.5% CAGR Owing to Rising Demand for De-Icing Applications
Sodium Acetate Trihydrate & Sodium Acetate Anhydrous Market to Flourish at 9.5% CAGR Owing to Rising Demand for De-Icing Applications
Sodium acetate trihydrate and sodium acetate anhydrous have valuable properties that make them useful for a variety of applications. They are colourless, water-soluble salts commonly used as food additives, herbicides, de-icers and leather tanning agents. As de-icers, they offer a safer option than chlorides as they cause less corrosion. Sodium acetate solutions have a low freezing point and generate heat when applied to walkways and roads, rapidly melting ice and snow. Increasing demand from the food, healthcare and construction industries are promoting the growth of this market.
The Global Sodium Acetate Trihydrate & Sodium Acetate Anhydrous Market is estimated to be valued at US$ 136.98 Bn in 2024 and is expected to exhibit a CAGR of 9.5% over the forecast period 2024 To 2031.
Key Takeaways
Key players operating in the Sodium Acetate Market Trends Trihydrate & Sodium Acetate Anhydrous are AbbVie Inc., Ablynx NV by Sanofi SA, Arrowhead Pharmaceuticals, Inc., Baxter International Inc., AstraZeneca PLC, Boston Scientific Corporation, Becton, Depomed, Inc., Fraunhofer Gesellschaft Munchen, Janssen Global Services, LLC., Luye Pharma Group, Pfizer Inc., Quark Pharmaceuticals Inc., Rexahn Pharmaceuticals Inc., Savara Inc., Roche Holding AG, Suda Limited, Vectura Group PLC, Taiwan Liposome Company, Ltd., and 3M Company. The market offers several growth opportunities such as expanding demand from the food industry for sodium acetate as a food additive and preservative. Rising usage of sodium acetate solutions for de-icing of roads, highways and aircraft is promoting market growth. Technological advancements aim to develop more efficient de-icing solutions with sodium acetate using techniques like encapsulation and complexation for improved heat generation and melting capabilities.
Market Drivers
The key driver fueling the sodium acetate trihydrate & sodium acetate anhydrous market is growing construction activities and infrastructure development projects, especially in cold regions. Extensive usage of sodium acetate solutions for de-icing of roads, airports, rail tracks and parking lots during winter months is the major factor propelling forward the market. Rising global food industry is another key aspect promoting higher consumption of sodium acetate as a preservative and food additive. Economic development and improving standards of living across developing regions will positively impact market revenues over the coming years.
Current Challenges in Sodium Acetate Trihydrate & Sodium Acetate Anhydrous Market
The sodium acetate trihydrate & sodium acetate anhydrous market is facing few challenges currently which includes stringent regulations regarding the usage of sodium acetate trihydrate and sodium acetate anhydrous. As these are considered hazardous chemicals if not handled properly. Secondly, availability of substitutes is also a challenge as there are other organic salts and compounds which can be used an alternative in many applications. Thirdly, fluctuations in the prices of raw materials required for the manufacturing of sodium acetate trihydrate & sodium acetate anhydrous impacts the overall production cost of manufacturers.
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