The global potassium acetate market is poised to register a 5.2% CAGR, capturing a revenue share of USD 289.5 million in 2022, to reach USD 482.1 million by 2032.
As a replacement for potassium chloride, potassium acetate is likely to boost the demand for the potassium acetate market across a wide range of end-use sectors. Because potassium chloride is subject to stringent environmental regulations, it cannot be used in large quantities.
Potassium acetate is used as an acidity regulator and preservative in processed foods. As a result of its ability to break down into bicarbonates, it can be used to treat diabetic ketoacidosis. Moreover, potassium acetate solutions are excellent precursors to the production of high-purity materials, nanoscale powders, and specific catalysts.
| Report Attribute | Details |
|---|---|
| Potassium Acetate Market Value (2022) | USD 289.5 Million |
| Potassium Acetate Market Anticipated Forecast Value (2032) | USD 482.1 Million |
| Potassium Acetate Market Projected Growth Rate (2022 to 2032) | 5.2% |
The potassium salt of acetic acid or potassium acetate appears as a white deliquescent crystalline powder and is also available in solution form. It is preferred for airport runways as it is applied as a deicer to remove the ice and prevent its further formation. Additionally, it is soluble in alcohol and liquid ammonia and insoluble in ether and acetone.
However, it has identical functional characteristics to potassium acetate, so it can be used as a substitute. Potassium acetate has a higher solubility than potassium chloride, and it has a more promising potential for use in high-density brines, which is expected to bolster the growth of the global potassium acetate market shortly.
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The major factor driving the global potassium acetate market is that the compound is being used as an alternative to potassium chloride. This is owing to the environmental restrictions on the application of potassium chloride.
Potassium acetate functionality properties are identical to the latter. In high-density brines potassium acetate has a higher potential for use than potassium chloride due to its time-solubility. Additionally, the fluid is chloride-free, making it ideal for environmentally sensitive areas. Moreover, it provides shale hydration and swelling inhibition through cation exchange and electrolysis.
Market growth for potassium acetate is driven by the growing use of potassium chloride as an alternative. The potassium acetate market is driven by applications that require solubilized minerals, which is likely to create high demand and support market growth.
Processed food products and changing lifestyles are also expected to increase demand for potassium acetate and boost its market growth. The use of potassium acetate in the pharmaceuticals, chemical, food, and agriculture sectors is further aiding the market growth of potassium acetate.
Though the potassium acetate market has an average growth pace and is anticipated to keep up with the momentum, certain impediments could slow down the healthy growth of the market.
The major factor that hampers the growth of the market is the side effects of the potassium acetate compound if it is used in an inadequate composition. Some of the symptoms of potassium intoxication include burning sensations and tingling in the hands and feet, which can also lead to near-death symptoms.
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The demand for potassium acetate has increased in the North American region. North America is anticipated to control a potassium acetate market share of 30.1% in 2022 with increasing demand from the food and beverage industry as a preservative and flavor enhancer.
In the last decade, North America has held the largest revenue share in the global potassium acetate market due to the presence of numerous pharmaceutical companies involved in Research and Development activities related to the drug discovery process. In addition, these companies used potassium acetate derivatives as key reagents, thus positively influencing market growth over the projected period.
The Europe potassium acetate market is predicted to experience significant growth and hold a market share of 27.5% in 2022. The increasing trend of packed food products, in turn, leads to demand for food additives such as potassium acetate and the increasing adoption of potassium acetate for a wide range of applications such as diabetic treatment in the pharmaceutical industry and as the deicing agent in several other industries.
The start-up ecosystem in the potassium acetate market is clouded by several companies because of the growing awareness about the benefits of potassium acetate among consumers as a non-toxic and environmentally friendly alternative to other preservatives.
To ensure product differentiation and to acquire a considerable share of the market, major vendors are adopting creative strategies and are constantly developing innovative products. Most of the major potassium acetate manufacturers concentrate on capitalizing their funds to maintain applications and technical marketing groups are appointed to serve the ever-changing needs of clients.
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The potassium acetate market is consolidated with a presence of a few strong players from around the globe. A few of the prominent players in the global potassium acetate market are Niacet, Lancashire Chemicals, Jiangsu Zidong Food, Anhui Hongyang Chemical, Wuxi Yangshan Biochemical, Lianyungang Tongyuan Chemical, Jiangsu Kolod Food, and Shanxi Zhaoyi Chemical.
Emerging trends in the potassium acetate market are brought about by strategies adopted by the key players in the market are partnership and collaboration with other operators, expansion into the untapped market, and joint ventures with organizations in emerging countries to gain a strong foothold in the market.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 5.2% from 2022 to 2032 |
| Base Year for Estimation | 2022 |
| Historical Data | 2016 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered |
Class, Application, Region |
| Regions Covered |
North America; Latin America; Western Europe; Eastern Europe; The Asia Pacific excluding Japan; Japan; The Middle East and Africa |
| Key Countries Profiled | United States of America, Canada, Brazil, Argentina, Germany, United Kingdom, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, GCC Countries, South Africa |
| Key Companies Profiled |
Niacet; Lancashire Chemicals; Jiangsu Zidong Food; Anhui Hongyang Chemical; Wuxi Yangshan Biochemical; Lianyungang Tongyuan Chemical; Jiangsu Kolod Food; Shanxi Zhaoyi Chemical |
| Customization | Available Upon Request |
The global potassium acetate market is set to advance at a CAGR of 5.2% from 2022 to 2032.
The potassium acetate market is likely to account for USD 482.1 million by 2032.
North America is likely to hold a Potassium Acetate market share of 30.1% in 2022.
The potassium acetate market is projected to grow to USD 289.5 million in 2022.
1. Executive Summary | Potassium Acetate Market 2. Market Overview 3. Market Background 4. Global Market Analysis 2017 to 2021 and Forecast, 2022 to 2032 5. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Product Type 5.1. Pharmaceutical Grade 5.2. Food Grade 5.3. Technical Grade 6. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Application 6.1. Food & Beverages 6.2. Chemicals & Material 6.3. Pharmaceutical 7. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Region 7.1. North America 7.2. Latin America 7.3. Europe 7.4. Asia Pacific 7.5. Middle East and Africa 8. North America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 9. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 10. Europe Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 11. Asia Pacific Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 12. Middle East and Africa Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 13. Key Countries Market Analysis 14. Market Structure Analysis 15. Competition Analysis 15.1. Niacet 15.2. Lancashire Chemicals 15.3. Jiangsu Zidong Food 15.4. Anhui Hongyang Chemical 15.5. Wuxi Yangshan Biochemical 15.6. Jiangsu Kolod Food 15.7. Lianyungang Tongyuan Chemical 15.8. Shanxi Zhaoyi Chemical 15.9. Diato Chemical 15.10. BASF 15.11. Evonik 16. Assumptions & Acronyms Used 17. Research Methodology
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Potassium Acetate Market
