Sodium acetate, also known as sodium ethanoate, is an organic compound, which is the sodium salt of acetic acid. It is manufactured by the neutralization reaction of acetic acid with sodium hydroxide. The product is extensively used as an emulsifier, preservative, and flavoring agent in dairy products, chips, poultry meat, and other edibles. In addition, it serves as an acid regulator in animal feeds and various drugs. Furthermore, sodium acetate is used in pharmaceutical industry, textile & leather industry, water treatment. Moreover, it finds its applications in buffer solution and concrete sealants.
COVID-19 scenario analysis
Almost all the businesses are negatively impacted by the outbreak of coronavirus pandemic.
Owing to the nationwide lockdown and the economic slowdown that major countries of the world are facing right now, significant reduction has been witnessed in the demand for packaged ready-to-eat food, which, in turn, hampers the growth of the sodium acetate market. Moreover, due to restrictions in transport, various food processing industries are affected due to disruption in supply chain. This has hindered the food market globally, consequently affecting the sodium acetate market.
The textile & leather industry is one of the major end users of the sodium acetate market. During this pandemic, the textile industry has almost ceased functioning, as there is no demand for the textile and leather goods in the market. The market is further impacted by the decrease in disposable, which is an effect of the economic downfall.
Top Impacting Factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis
The major factor for the demand for sodium acetate is its significant use in the food industry. Presently, busy schedule of the working class with less time to prepare food has propelled consumers to switch toward processed food, which supplements the growth of the sodium acetate market. In addition, surge in demand for healthy food has augmented the demand for sodium acetate, as it can be added to food as an acid regulator, seasoning, emulsifier, and preservative.
Moreover, leather & textile and pharmaceuticals are the significant end-user industries of the sodium acetate. This is attributed to the fact that it is used as a washing salt in leather industries, owing to its superior properties such as enhanced solubility and high density. Furthermore, it is used to increase the uptake of dye and protect it from light during the dying process. In textile industries, it is used to remove electrostatic force during processing of cotton.
The Asia-Pacific region is the major revenue contributor in the sodium acetate market, and is expected to expand in the near future, due to the development of the leather & textile and food industries in the region. Furthermore, surge in demand from the food industry for preservation of dairy products is anticipated to contribute toward the growth of the sodium acetate market.
Key benefits of the report
This study presents the analytical depiction of the global sodium acetate industry along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global sodium acetate market share.
The current market is quantitatively analyzed to highlight the global sodium acetate market growth scenario.
Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
The report provides a detailed global sodium acetate market analysis depending on competitive intensity and how the competition will take shape in coming years.
Questions answered in the sodium acetate market research report:
Which are the leading market players active in the sodium acetate market?
What are the current trends will influence the market in the next few years?
What are the driving factors, restraints, and opportunities in the market?
What are the projections for the future that would help in taking further strategic steps?
Sodium Acetate Market Report Highlights
By Industry Vertical
Key Market Players
N.B. Enterprise, Palsgaard, Foodchem International Corporation, Estelle Chemicals Pvt. Ltd., Parchem Fine & Speciality Chemicals, American Elements, Sisco Research Laboratories, and Spectrum Chemical Manufacturing Corporation
Other Key Market Players
Changshu Nanhu Chemical, Lonza, Nantong Zhongwang Additives, CABB,