Ammonium Acetate Market - Forecast(2024 - 2030)

 

The Ammonium Acetate Market size is estimated to reach US$13.01 billion by 2030, after growing at a CAGR of 3.3% during the forecast period 2024-2030. The increasing demand for Ammonium Acetate in various industries underscores its pivotal role in chemical synthesis, pharmaceuticals, and the food and beverage sector. Ammonium Acetate, with the chemical formula NH4CH3CO2, is an essential ammonium salt derived from the reaction between acetic acid and ammonia. Its versatile applications make it a sought-after compound in different sectors. 

 

In the pharmaceutical industry, Ammonium Acetate plays a crucial role in drug formulation, particularly in medications like insulin. The high demand for this salt in pharmaceutical applications is a significant driving factor for the Ammonium Acetate industry. Its utility in chemical synthesis and catalysis further enhances its importance in various research and manufacturing processes. The food and beverage sector also contributes significantly to the growing demand for Ammonium Acetate. Its use as an avidity regulator and food additive underscores its versatility in enhancing the quality and properties of food products. As the food industry continues to expand, the demand for Ammonium Acetate is expected to rise, further boosting the market size. The continuous growth in these sectors, coupled with the increasing scope of applications for Ammonium Acetate, positions the industry for rapid expansion during the forecast period.

The “Ammonium Acetate Market Report – Forecast (2024-2030)” by IndustryARC, covers an in-depth analysis of the following segments in the Ammonium Acetate Industry.

 

By Grade: Industrial Grade, Agricultural Grade, Medical Grade and Food Grade.

By Application: Drugs, Fertilizers, Pesticides, Cleaning Products, Food Additive, Latex, Foam Rubber, Shampoos and Others.

By End-use Industry: Food & Beverages (Bakery, Dairy, Meat and Others), Medical & Pharmaceutical (Patent Drug, Chemical Medication and Others), Cosmetics & Personal Care (Hair Care, Skin Care, Body Care and Others), Agriculture, Chemical, Textile and Others.

By Geography: North America (the USA, Canada and Mexico), Europe (the UK, Germany, France, Italy, the Netherlands, Spain, Belgium and the Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia and the Rest of APAC), South America (Brazil, Argentina, Colombia, Chile and the Rest of South America) and the Rest of the World [the Middle East (Saudi Arabia, the UAE, Israel and the Rest of the Middle East) and Africa (South Africa, Nigeria and the Rest of Africa)].

• North America dominates the Ammonium Acetate Market share of 38.1% in 2023, owing to growth factors such as the flourished base for the medical & pharmaceutical sector and rising food & beverage production.

• The flourishing medical & pharmaceutical sector across the world is propelling the demand for Ammonium Acetate for major utilization in drugs such as insulin, penicillin, drug synthesis and others, thereby influencing the growth in the Ammonium Acetate market size.

• The demand for Ammonium Acetate in the food & beverage sector is significantly rising for applications in food additives, flavoring agents, acidity regulators and others, thereby fueling the growth scope in the Ammonium Acetate market.

• However, the health hazards associated with ammonium acetate and the threat to the environment act as challenging factor in the ammonium acetate industry.

 

 

The medical grade segment held a significant share in the Ammonium Acetate Market in 2023 and is projected to grow at a CAGR of 3.5% during the forecast period 2024-2030. The growth scope for medical grade ammonium acetate or ammonium salt is high compared to other grades such as industrial, food and agriculture due to rising utilization in pharmaceuticals for the formulation of insulin, penicillin, and others. The ammonium acetate chemical formula is NH4CH3CO2, with an ammonium acetate molar mass of 77.0825 g/mol. In addition, the medical grade has high purity over other grade types and is widely used in electrolyte solutions. Thus, with bolstering growth in the medical and pharmaceutical sector for applicability in drug synthesis, chemical medications, and others, the medical grade segment is anticipated to grow rapidly in the Ammonium Acetate market during the forecast period.

 

 

The medical & pharmaceutical segment held a significant share in the Ammonium Acetate Market in 2023 and is estimated to grow at a CAGR of 3.9% during the forecast period 2024-2030. Ammonium acetate, which is obtained from a reaction between ammonia and acetic acid, has flourishing applications in the medical & pharmaceutical sector for drug preparation, chemical medication, and others. The lucrative growth in the pharmaceutical sector is influenced by growth factors such as high spending on drugs, growing healthcare infrastructure, and a high rate of chronic health incidents. According to the International Trade Administration, the medical device market in China is poised for robust growth, with a projected 8.3% CAGR from 2021 to 2026. Anticipated expansion is set to elevate the market to $48.8 billion by 2026. According to the European Federation of Pharmaceutical Industries and Associations (EFPIA), The global pharmaceutical (prescription) market, valued at approximately €1,222,921 million ($1,287,736 million) in 2022, highlights North America's dominance, holding a substantial 52.3% market share. The USA and Canada continue to lead, surpassing Europe, China, and Japan in pharmaceutical sales and market influence. With the rapid growth scope and production trend in the medical & pharmaceutical sector, the demand for Ammonium Acetate in drugs such as insulin, chemical medication, and others is increasing. This, in turn, is projected to boost its growth scope in the medical & pharmaceutical industry during the forecast period.

 

 

North America held the largest Ammonium Acetate Market share of up to 38% in 2023. The lucrative growth scope for ammonium acetate or ammonium salt in this region is influenced by the rise in healthcare and food & beverages sectors, rising expenditure on medical and pharmaceutical utilities, and flourishing medical infrastructure. The lucrative growth for the medical & pharmaceutical sector in North America is influenced by growing healthcare infrastructure, high spending on drugs, and increasing chronic diseases. According to the National Center for Biotechnology Information, in 2023, projected prescription drug spending is set to increase by 6.0% to 8.0%. Clinics and hospitals are expected to see higher rises, with anticipated increases of 8.0% to 10.0% and 1.0% to 3.0%, respectively, compared to 2022 According to the International Federation of Pharmaceutical Manufacturers & Associations (IFPMA), the estimated growth of the pharmaceutical sector for 2022 was 5.4% in North America. With the bolstering growth and chronic drug production in the medical & pharmaceutical sectors, the utilization of Ammonium Acetate in medications such as insulin, penicillin, and others are growing. This, in turn, is projected to boost its growth prospects in the North American region during the forecast period.

 

Ammonium Acetate, which is obtained from a reaction between ammonia and acetic acid, has massive demand in the agricultural sector for applicability in pesticides, fertilizers and others. That is because it plays a vital role in synthesis procedures and helps in the root growth of the crop. The agriculture industry is significantly flourishing due to factors such as rising production for grains, cereals, and others, demand for fertilizer and pesticides, and the government's initiative to promote agricultural development policies. According to the India Brand Equity Foundation (IBEF), the agriculture sector in India is expected to increase to US$24 billion by 2025. Also, as per Trade Economics, China's agricultural GDP rose significantly to $ 7853.35 Hundred million in Q3 2023, marking a substantial increase from $ 4237.18 Hundred million in the previous quarter, reflecting positive growth in the agricultural sector. With the robust scope for agricultural production, the utilization of ammonium acetate in agrochemicals for the synthesis of fertilizer and pesticides is increasing, which, in turn, is driving the Ammonium Acetate industry.

 

Ammonium Acetate has a wide range of applications in the food sector as food preservatives, acidity regulators, pH regulators, and anti-caking agents in flour. The food industry is significantly growing due to growth factors such as high demand for ready-to-eat food items, rising production for dairy, meat, fruits, and vegetables, and increasing disposable income. According to the India Brand Equity Foundation (IBEF), the Indian food processing sector is expected to reach US$535 billion by 2025-26. According to the UK Statistics, In 2022, spending on dining out rose by 29%, reaching $ 152.25 bn. According to the Association for Packaging and Processing Technologies, the food sector in the US is anticipated to expand by 2.9% by 2022. Thus, with the rapid increase in food & beverage production and growth scope, the applicability of ammonium acetate as an acidity regulator, meat processing, ammonium acetate pH regulator, and food additive is growing, which, in turn, is driving the Ammonium Acetate industry.

 

Ammonium Acetate is often associated with major health hazards and environmental threats. The ammonium acetate SDS or safety data sheets show high health risks. It results in health issues such as mouth irritation, nose irritation, eye rashes, and skin irritations. Moreover, any contact with the compound also creates problems in the respiratory and gastrointestinal systems. In addition, the toxicity of ammonium acetate creates environmental impacts such as water toxicity and life threats to aquatic life. Thus, owing to such volatility and hazards associated, the Ammonium Acetate market anticipates a major slowdown and growth challenge.

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Ammonium Acetate Market. The top 10 companies in the Ammonium Acetate Market are Hongyang Chemical, Tianmen Chutian Fine Chemical Co., Ltd, Niacet b.v, Kanto Chemical Co.Inc,, Thermo Fisher Scientific Inc., Kanha Life Science LLP, Anhui Hongyang Chemical Co., Ltd., Merck KGaA, Hefei TNJ Chemical Industry Co., Ltd, Foxkem Industries, among others

 November 2023 Thermo Fisher Scientific and Flagship Pioneering have joined forces in a strategic partnership to rapidly advance and commercialize multiproduct platforms, solidifying Thermo Fisher's position as the global leader in scientific solutions.

 September 2022, Merck invests over €130 million in Molsheim, France, bolstering manufacturing capabilities. This substantial commitment underscores Merck's dedication to enhancing production and innovation in the region.

 

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