Calcium Acetate Market Set for Modest Growth through 2029, Receives Impetus from Pharmaceutical Industry
Global calcium acetate market is projected to grow at a moderate pace through the forecast period (2019-2019). Pegged at 3% CAGR through 2029, growth of calcium acetate market is complemented by continual demand from variegated end-use areas such as pharmaceuticals, food & beverages, and textiles. The bulk demand for calcium acetate will be concentrated in Europe and North America.
Use of calcium acetate as a preservative and food additive has grown considerably in recent years. For instance, demand for calcium acetate in manufacturing dairy products such as milk powder, cream and condensed milk will grow substantially during the forecast period. Moreover, calcium acetate has gained paramount importance in blood dialysis where it is utilized to regulate blood phosphate levels.
Use of Calcium Acetate as Phosphate-binder to Drive Global Market
Role of calcium acetate in treating hypophosphatemia has emerged as a crucial pharmaceutical application. Patients suffering from kidney diseases are given oral prescriptions of calcium acetate while they are on dialysis. Calcium acetate significantly reduces the risk of stroke or heart disease by eliminating unsafe build-up of phosphate in the human body.
In addition, use of calcium acetate in manufacturing anti-epileptic drugs will gain significant traction through the forecast period. The pharmaceutical application is projected to drive the calcium acetate market since the use of calcium acetate as food preservative is hindered by shifting consumer focus towards chemical-free, natural products.
The variegated applications of calcium acetate include chemical industry where it is used for manufacturing resins, printing inks, and lubricants among others. In addition, players in building & construction industry use calcium acetate as concrete accelerator. Wastewater treatment and detergent applications employ calcium acetate as well.
Europe Holds Majority Share in Calcium Acetate Market
Governments in developed regions such as Europe and North America are investing substantial pecuniary resources in R&D activities for diversifying calcium acetate applications. On that premise, Europe will hold the leading market share over the forecast period. However, the region is projected to receive headwinds from saturated calcium acetate market.
On the other hand, Asia Pacific will generate noteworthy demand for calcium acetate through 2029. Rising income level, purchasing power parity, and improving lifestyle are to be attributed for this growth. Countries such as Indonesia, Taiwan, Thailand, Japan, and India will be the major contributors of growth. Pharmaceuticals, soaps and detergents are leading end-use industries in these countries.
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Industry Leaders to Focus their Efforts on Capacity Expansion through 2029
Key players in the consolidated calcium acetate market include, Alemark, Merck Millipore, GFS Chemicals, Richman Chemical, Allan Chemical Corp., Avantor Performance Materials, AVA Chemical PVT. LTD., and Hawaii Chemicals & Scientific. Leading players are leveraging economies of scale for sustained competitive advantage.
In view of lucrative capacity expansion opportunities, major producers must invest heavily in emerging markets of India and China. Moreover, low labour costs in these regions are working in favour of calcium acetate manufacturers. Stringent regulatory requirements and overcapacities continue to restrict the market growth in North America. Hence, key players must divert their resources in Asia Pacific and Europe for market leadership.
Collaboration with leaders of end-use industries such as PVC foam manufactures would be beneficial since calcium acetate is used as a blowing material in foam production. Thus strategic alliances with end-use industry leaders is a viable course of action through 2029.
Calcium Acetate Market: Segmentation
The global calcium acetate market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to readers.
- Firming Agent
- Food and Beverages
- Pet Food
- North America
- Latin America
- Asia Pacific