Global Ammonium Acetate Market: Demand Analysis and Growth Forecast
Ammonium acetate is a white crystalline solid that is attained from the reaction of ammonia and acetic acid. This compound is derived either by neutralizing acetic acid with ammonium carbonate or by the saturation of glacial acetic acid with dry ammonia gas. This compound finds a wide range of application in the food and the pharmaceutical industry.
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(2018 - 2023)”
The market of ammonium acetate is anticipated to witness a swift growth because of the increased consumption of packaged food and medicines. A recent IndustryARC market research report projects profitable progression in the global ammonium acetate market during the forecast period from 2018 to 2023.
Ammonium Acetate Market: Key Drivers and Disruptive Trends
The rapid growth of the food and beverage industry has proved to be a boom to the ammonium acetate market, supplemented by the growing demands of functional food additives. This compound is also used for the removal of contaminants during dialysis as a part of the protein purification process, and therefore, the increasing number of dialysis patients is another favorable aspect of this market.
Multiple pharmaceutical companies and private research institutes are investing a significant amount of capital to strengthen their product pipeline. The global tilt of manufacturers to develop innovative pharmaceutical products and food additives is fueling the ammonium acetate market.
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Ammonium Acetate Market: Leading Segments
Application-wise, the global ammonium acetate market is segmented into the branches of pharmaceutical, food additives, and industries such as dyeing textiles, metal treatment, and rubber processing. On the basis of products, this market can be split into industrial grade ammonium acetate, food grade ammonium acetate, agriculture grade ammonium acetate, and medicine grade ammonium acetate. Geographically, the IndustryARC report gauges the demand potential of all important regions including Asia Pacific, North America, and Europe.
Global Ammonium Acetate Market: Competitive Landscape
Key competitors of this market are Hongyang Chemical, Jiatai Chemical, Victor Chemical, Yafeng Chemical, and Chutian Fine Chemical. Major competition lies in the magnitude of effect that these companies can achieve, and hence a number of R&D institutes all around the globe are doing a notable amount of work in the ammonium acetate market to reach there.
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Ammonium acetate is a globally accepted additive in the food industry, and they are extensively used as preservatives. This compound has a numerous number of end-user applications, but among them, the pharmaceutical industry is the major contributor to the growth of the market.
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