According to new Global Market Insights, Inc, chemical research report Ammonium Acetate Market size is projected to grow significantly over the projected timeframe due to growing food & beverage consumption and rising awareness towards usage of functional additives. The product finds application in acidity regulator in food additives, thereby propelling industry size.
It is also used in pharmaceutical industry in drug preparation and chemical medicine. The pharmaceutical industry is projected to grow in the estimated timeline owing to change in consumer preference towards therapy, thereby driving ammonium acetate market size.
Ammonium acetate, a metallic salt is made from gaseous ammonia and acetic acid. It is a white crystalline solid at room temperature exhibit both weak acidic and basic properties. The product is volatile at low pressure thereby finding application in preparations for mass spectroscopy samples. It replaces cell buffers with non-volatile salts and used for High Performance Liquid Chromatography (HPLC) and Evaporative Light Scattering Detector (ELSD). Global mass spectrometry market is projected to surpass USD 6.30 billion by 2024, thus stimulating ammonium acetate market value.
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The product is used for rubber latex production as a gelling or foaming agent to trap air bubbles within latex while it is being set. Latex rubber leads to foam rubber production which find applications in insulation packaging and cushioning purposes. End use applications include sports equipment, decorative costume and cushions for couches, beds and chairs. Elastomeric foam rubber market is poised to reach USD 1.75 billion thereby driving ammonium acetate market demand.
These product also finds use as a buffering solution owing to pH value of seven. The pH value mirrors that of water and finds extensive use in pharmaceutical, food processing and industrial detergent application to maintain acid and basic levels. The product acts as an acid regulator when used in food processing for dairy products and vegetables. End use application of product includes cheese, chocolate milk and dried canned and boiled vegetables, thus driving market size.
The product in pharmaceutical grade is used in manufacturing of insulin and penicillin. Insulin is effective in treatments of type 1 and type 2 diabetes. Penicillin is an antibacterial agent and used for treatment of infections. Global spending in pharmaceutical sector poised to reach USD 1.5 trillion by 2023 would boost ammonium acetate market growth.
The product finds application in form of deicing agent and possess characteristics to operate at very low temperatures. It is preferred to be used in deicing road, bridges, and airports owing to its biodegradable nature and high sublimity which leads to lesser cleaning and clearing operations. Stringent environmental norms implemented by governments is likely to promote eco-friendly biodegradable ammonium acetate market size in the estimated timeline.
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North America led by Mexico, Canada and the U.S. ammonium acetate market revenue is likely to experience growth in the projected timeframe owing to growth of small, medium and large-scale manufacturers in the region. Rising awareness regarding advantages of food additives would propel regional product demand. North American food additive market is poised to surpass USD 27.5 billion by 2024 which would positively influence the market size in the region.
Asia Pacific led by Australia, India and China ammonium acetate market would experience significant growth in forecasted timeframe. Constructive policies by Chinese government favoring pharmaceutical industry is likely to drive regional product demand. Asia Pacific pharmaceutical market is poised to surpass USD 275 billion by 2021 leading to growth of market.
Global ammonium acetate market share is consolidated as market consist of limited players. Chutian Fine Chemical, NASi, Niacet, Yafeng Chemical, Yangshan Biochemical, Langfang Tianke, Industrial Chemicals, Jarchem, Runhong Technology, Hongyang Chemical, Zhonghe Chemical, Victor Chemical and Jiatai Chemical, are key players in the market.
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