Sodium Formate Market to See Incredible Growth During 2024


Sodium formate is the sodium salt of formic acid and appears as a white powder. Sodium formate is used in numerous printing and dyeing processes. In addition, it is also used as a buffering agent for mineral acids to increase their pH, as a food additive (E237), and as a de-iceing agent. Sodium florate is non toxic, biodegradable and environmental friendly. In biology, sodium formate is used as a cryoprotectant for X-ray diffraction experiments on protein crystals, which are conducted at a high temperature to reduce the effects of radiation damage. Sodium formate is prepared in the laboratory by neutralizing formic acid with sodium carbonate.

Read Report Overview @

Sodium formate is also obtained by reacting sodium hydroxide with chloroform. For commercial use, sodium formate is manufactured by absorbing carbon monoxide under pressure in solid sodium hydroxide. Sodium formate is also used in the production of formic acid, sodium hydrosulphite, leather tanning and as an enzyme stabilizer in detergent. Sodium formate is hygroscopic in nature and should be carefully handled to prevent absorption of moisture. Furthermore, sodium florate is used in the oilfield industry to form clear brine used in work over and completion fluids.

The growth in end user industries is expected to increase the consumption of sodium formate. In addition, increasing demand for sodium formate from emerging economies of Asia Pacific and Latin America is expected to increase the consumption of sodium formate. The growth in food and beverage and dyeing and printing industry is expected to boost demand for sodium formate in the emerging economies. However, availability of substitutes and fluctuating raw material prices could hamper the growth of this market. Urea can substitute sodium formate for deicing applications.

Asia Pacific is expected to be the fastest growing market for sodium formate followed by North America, Europe and Latin America. India and China are the largest consumers of sodium formate in Asia Pacific. Sodium formate manufacturers are shifting their production facilities from developed economies to emerging economies of Asia Pacific and Latin America due to availability of cheap land, skilled labor and government subsides. Singapore, Malaysia, Thailand, Taiwan, and Vietnam are expected to be other major consumers of sodium formate in Asia Pacific. Latin America is also a major consumer of sodium formate and expected to experience moderate to high growth. Europe and North America are mature markets and expected to experience moderate growth.

Request to view Sample Report:

Sodium formate market is dominated by large and medium chemical and materials companies. Some of the key players in this market are Gansu Winshine Metallurgy Chemicals Co., Ltd.(China), Zibo Heye Chemical Co., Ltd. (China), Wuhan Shengkai Chemicals Company Limited (China), Puyang Pengxin Chemical Co., Ltd. (China), Yichang Jiangshan Chemical Technology Co., Ltd.(China), Weifang Graceland Chemicals Co., Ltd (China), Dongying J&M Chemical Co., Ltd. (China), Shandong Yuanming Biotechnology Co., Ltd.(China), Baoding Guoxiu Chemical Industry Co., Ltd. (China), Heyuan Infinity Chemical Co., Ltd.(China), Zibo Pulisi Chemical Co., Ltd.(China), Zibo Aiheng New Material Co., Ltd. (China), Wuxi R And D Chemical Co., Ltd. (China), Toronto Research Chemicals Inc (Canada), Windia Speciality Chemicals (Chennai) P. Ltd. (India), Global Drilling Fluids and Chemicals Limited (India), Kamdhenu Chemicals (India) and PK Chlorochem Private Limited (India) among others. Companies are using strategic acquisitions and mergers to increase their market share. In addition, companies are using aggressive marketing tactics to remain competitive in the market.




About Us

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

Contact

Transparency Market Research
State Tower,
90 State Street,
Suite 700,
Albany NY - 12207
United States
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com


Comments

Post a Comment

Popular posts from this blog

Wood Adhesives and Binders Market to Perceive Substantial Growth During 2020 The competitive landscape of global wood adhesive and binders market is fragmented, as only tope four players are responsible for 36% of the total market, as analyzed by Transparency Market Research (TMR). As the market requires huge amount of capital and significant high setup cost some of the key players play a noticeable role. Henkel AG, Dow Chemical Company, 3M Company and Co., KGaA, HB Fuller, and 3M Company are some of the key players analyzed in the report. The global wood adhesive and binders market is consolidated due to the high cost involved to customize products by using innovative technologies. The competition is also fierce due to limited number of players competing against each other. Although new player with strong financial support will pave their way in bio based adhesive formulations. Read Report Overview @ https://www.transparencymarketresearch.com/wood-adhesives-binders-market.html As per the analysis done by the TMR authors, the global wood adhesive and binders market is estimated to reach a valuation of US$ 17.7 bn by the end of the forecast period in 2020. The CAGR is projected to expand at 4.4% between 2014 to 2020. The furniture and subcomponents segment under the application category is estimated to lead the market by attaining 5% CAGR during the forecast period. As per geography, North America leads the global market. The region is witness larger consumption of wood adhesive and binders market in the recent past. Increasing Demand in Construction Industry Could Boost the Market Wood adhesive and binders have a significant role in making cabinets, windows, doors, flooring, plywood, and various other structural panels. The use of wood adhesive and binders is widely seen in furniture and construction areas. As the construction market is estimated to increase at a CAGR of 4.7% during 2016 to 2020, which will significantly boost the demand for wood adhesive and binders during the same period. Rising population in emerging nations, require residential facilities thus propelling the construction and infrastructure market, which will further boost the demand for wood adhesive and binders market. Asia Pacific being the major region where building and construction industry have significantly growing 2015 to 2020. Environmental Concerns May Restrain the Wood Adhesive and Binders Market to Grow at its Full Potential Petroleum based feedstock like vinyl, styrene butadiene, urea, acetate, phenols, acrylates, and polyurethanes helps in manufacturing wood adhesive and binders. As these petroleum feedstock’s are highly dependent on crude oil, even a minute fluctuation in the crude oil prices affects the raw material required to manufacture wood adhesive and binders. Request to view Sample Report: https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=3045 Additionally, with the emission of volatile organic compounds (VOC) while manufacturing wood adhesive and binders highly affects the environment and create various health risks. The increasing environmental concerns may restrict the market from attaining its full potential. Thus to mitigate these harmful effects number of governments are bring regulation to restrict the amount of gasses releases while manufacturing adhesives and binders which will help the market to grow in coming years. About Us Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information. TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports. Contact Transparency Market Research State Tower, 90 State Street, Suite 700, Albany NY - 12207 United States Tel: +1-518-618-1030 USA - Canada Toll Free: 866-552-3453 Email: sales@transparencymarketresearch.com Website: http://www.transparencymarketresearch.com

The competitive landscape of global wood adhesive and binders market is fragmented, as only tope four players are responsible for 36% of the total market, as analyzed by Transparency Market Research (TMR). As the market requires huge amount of capital and significant high setup cost some of the key players play a noticeable role. Henkel AG, Dow Chemical Company, 3M Company and Co., KGaA, HB Fuller, and 3M Company are some of the key players analyzed in the report. The global wood adhesive and binders market is consolidated due to the high cost involved to customize products by using innovative technologies. The competition is also fierce due to limited number of players competing against each other. Although new player with strong financial support will pave their way in bio based adhesive formulations. Read Report Overview @ https://www.transparencymarketresearch.com/wood-adhesives-binders-market.html As per the analysis done by the TMR authors, the glob...
Keep reading

High-performance Anti-corrosion Coatings Market to Record an Exponential CAGR by 2024

The global high-performance anti-corrosion coatings market was valued at US$ 12.60 Bn in 2017 and is anticipated to expand at a CAGR of 5.9% from 2018 to 2026, according to a new report titled ‘High-performance Anti-corrosion Coatings Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026,’ published by Transparency Market Research (TMR). The global high-performance anti-corrosion coatings market is driven by growth of the global oil & gas industry. Asia Pacific accounts for a major share of the global market, due to growth of construction, marine, and oil & gas industries in the region. Read Report Overview @ https://www.transparencymarketresearch.com/high-performance-anticorrosion-coatings-market.html The number of oil & gas drilling and exploration activities has increased in the last few years. The Gulf of Mexico, Southeast Asia, and North Sea are currently rich in oil & gas resources and they have a large ...
Keep reading

Water Pump Market - Global Industry Analysis , Share 2023 | TMR

Albany, New York, May 29, 2017: Transparency Market Research (TMR) announces a new report on the global water pump market. The report, titled ‘Water Pump Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2023,’ profiles the historical development of the market to derive useful patterns regarding the way the market has developed in the recent past. Based on a solid database of past and present data, reliable projections regarding the future growth trajectory of the global water pump market have been provided in the report. The report provides readers with a comprehensive picture of the global water pump market, making it a must-have accessory for interested parties in the market. Browse Market Research Report @ http://www.transparencymarketresearch.com/water-pump-market.html Water pumps have been a necessity in human development and have played a key role in the development of human civilization itself. In recent years, the global w...
Keep reading