Acetate Salt Market regulatory trends, drivers, industry pitfalls, 2016 – 2024
Global Acetate Salt Market size is likely to witness moderate gains in terms of volume during the forecast period.
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Acetate salt has major application in pharmaceutical industry, as a result its market has grown at a significant pace in recent years. Pharmaceutical manufacturing is booming in developing countries like China and India due to favouring government policies for their establishment. Collaboration of different companies with established organisations such as Emcure, Centaur, Ranbaxy, Cipla had developed this industry with regards to technological advancements. Thus, enhancing pharmaceutical industry is the major driving factor for acetate salt market.
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Biotechnology industry has emerged extensively in last decade and continuous research and development activities are being carried out in this field. Acetate salt is used in this industry to manufacture protein based drugs. Moreover, biotechnology is the need of the day due to its application in various fields like agriculture, chemical laboratories, botany etc. This technology is used in agriculture to improve the yield of crops and soil fertility. Further, growing biotechnology industry leads to the upliftment of acetate salt market.
Chemical sector is flourishing following its application in textile industry, paints & coatings industry, etc. Increase in global population and rise in spending capacity of millennials have developed textile industry. Acetate salt is used considerably in chemical field. Additionally, booming construction sector has increased paints & coatings market in developing regions of world. Hence, growth of chemical industry complements acetate salt consumption in future.
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Asia Pacific accounts for significant share in terms of volume in acetate salt market owing to its flourishing textile, paints, agriculture and chemical industry. Countries such as India and China are developing in chemical and pharmaceutical industry due to the establishment of numerous foreign companies. Positive outlook of these industries will keep the region dominant in coming years.
The key players manufacturing acetate salt are Amresco LLC, Avantor Performance Materials, J.M. Loveridge Ltd., Alfa Aesar, Solvay, Merck Millipore. There are many other manufacturers in the market that includes Dow Chemicals, Allan Chemical Corporation, NOAH Technologies Corporation, CABB GmbH, Niacet Corporation, Chang Shu Nan Hu Chemical Co., Ltd., Jost Chemicals.
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