Market Challenges And Opportunities

Restraints

Lack of Awareness Regarding the Benefits of Sodium Acetate Trihydrate & Sodium Acetate Anhydrous

Lack of awareness regarding the benefits of the products is affecting demand for sodium acetate trihydrate & sodium acetate anhydrous. This factor is hindering the market growth over the forecast period. Thus, easy availability of other food preservatives are projected to hamper the market growth.

Global Sodium Acetate Trihydrate & Sodium Acetate Anhydrous Market - Drivers

Growing Pharmaceutical Industry

Growing pharmaceutical industry is expecetd to drive the market growth. Widely used in the electrolytes and warming pads. These are also used as a diuretic agent. Increasing geriatric population is creating need for healthcare facilities. For instance, In April 2021, Eastman Chemical Company completes acquisition of 3F Feed and Food, Europe based leading animal feed and Human food additives manufacturer for business expansion across Europe.

Growing Demand for Leather Products

Growing demand for leather products is expected to drive the market growth of the sodium acetate trihydrate & sodium acetate anhydrous. Increasing demand for products such as handbags, footwear, bags, and other leather-based products is boosting demand for sodium acetate trihydrate & sodium acetate anhydrous. It is a crucial component of leather tanning chemicals and textile dyeing chemicals. Moreover, increasing number of leather manufacturing industries around the globe is also expected to drive the market growth.

Global Sodium Acetate Trihydrate & Sodium Acetate Anhydrous Market – Opportunities

Increasing Use of Sodium Acetate

Increasing use of sodium acetate as a phase changing materials in solar heat systems and thermal energy storage systems is projected to offer new market opportunities. Moreover, it is also used in other applications such as heat pump systems, waste heat recovery, and thermal protection in electronic products. Thus, emerging application of sodium acetate is projected to drive the market growth of the sodium acetate trihydrate & sodium acetate anhydrous over the forecast period.