Global Statistics Representing Ammonium Acetate Market Scenario
Ammonium acetate is a white crystalline solid, which can be synthesized through two methods, either by neutralizing acetic acid with ammonium carbonate or by the saturation of glacial acid with dry ammonia gas. As ammonium acetate is volatile at low pressures, it is used to replace cell buffer with non-volatile salts in preparing samples for mass spectrometry. As ammonium acetate is a salt of a weak acid and a weak base, it is used with acetic acid to create buffer solution.
Increasing use of natural additives instead of synthetic additives in foods & beverages and increasing use of ammonium acetate in pharmaceutical drugs are expected to drive market growth in years to come. Moreover, private research institutions and major pharmaceutical manufacturing companies are focusing on alternative ways to strengthen their product pipeline, which is expected to drive market growth in the pharmaceutical industry.
Strict regulations related to the use of ammonium acetate, owing to its adverse environmental impact may deter market growth to an extent.
The global ammonium acetate market can be segmented by application and end user.
By application, the ammonium acetate market can be segmented into food additives, pharmaceuticals, electrolyte solutions, and others. The pharmaceuticals segment is expected to gain significant market share during the forecast period as ammonium acetate is used in the manufacturing of insulin and penicillin and other drugs. Insulin is majorly prescribed for diabetic patients to maintain and control their blood sugar levels. Thus, increasing global diabetic patient pool and their per capita consumption of insulin are expected to drive market growth. According to a statistic provided by the International Diabetes Federation, around 425 million adults suffered from diabetic problems in 2017, and the number of diabetic patients is projected to reach 629 million by 2045. Increasing use of ammonium acetate in insulin and the expanding diabetic patient pool are intensifying the global demand for ammonium acetate.
By grade, the market can be segmented into industrial grade, food grade, agriculture grade, medicine grade, and others. By end user, the market can be segmented into industrial grade, food grade, agriculture grade, medicine grade, and others. The agriculture grade segment is projected to gain traction in the global ammonium acetate market, owing to the usage (limited to 15%) of this grade in agricultural pesticides as a primary starting raw material, reactant and buffering agent. Pesticides are increasingly being used in the agriculture sector to reduce production losses and labor cost. Global and regional players are exhibiting various strategies such as mergers, acquisitions, and partnership in order to strengthen their market presence and explore new markets. For instance, ChemChina, a global agrochemical company, acquired Syngenta Company, which also deals in agrochemical and seed.
Geographically, the global ammonium acetate market has been segmented into North America, Europe, Asia Pacific, and Latin America and the Middle East & Africa (LAMEA).
Asia Pacific is expected to account for the largest share in the ammonium acetate market, owing to the presence of developing countries such as India, China, and South Korea. Government policies related to pharmaceutical safety and the growing drug and chemical market in China are expected to drive market growth during the forecast period, 2019–2026. Additionally, rapid growth in the use of ammonium acetate in New Zealand and Australia, due to legalization, is expected to bolster market growth in the region further.
North America and Europe are anticipated to grow at a steady pace during the forecast period, 2019–2026, owing to the increasing consumption of ammonium acetate as a functional food additive in the food and beverage sector. The extensive application of ammonium nitrate in crop production, owing to its readiness to mix with soil, is also expected to foster market growth in said regions.
The Latin America and Middle East & Africa (LAMEA) region is pegged to be an emerging market for ammonium acetate during the forecast period, on account of the region’s growing agriculture sector, which is expected to pave the way to regional economic integration in Latin America.
Some of the prominent players in the ammonium acetate market are Niacet, Jarchem, NACHURS ALPINE SOLUTIONS Industrial (NASi), Yangshan Biochemical, Victor Chemical, Chutian Fine Chemical, Jiatai Chemical, HONGYANG CHEMICAL Langfang Tianke, Runhong Technology, ZHONGHE Chemical, and Yafeng Chemical.
Ammonium Acetate Market Segmentation