The global Liquid Sodium Methylate Market size was USD 280.7 Million in 2021 and is expected to register a revenue CAGR of 4.1% over the forecast period, according to the latest report by Reports and Data.
Consumers are becoming more conscious of the environment, and biofuels such as biodiesel are being utilised as a future alternative to non-renewable fossil fuels that contribute to global warming. Furthermore, increased demand for biodiesel as a cleaner fuel is predicted to drive up demand for sodium methylate due to its usage as a catalyst in biodiesel synthesis. Furthermore, the usage of sodium methylate in the manufacture of pharmaceuticals, crop protection agents, and food additives, as well as the maintenance of safety processes, is sustaining global demand. Furthermore, increased R&D investments, low-cost production, a large workforce, and FDA compliance in the United States are fueling expansion in the pharmaceutical business.
Top Companies Operating in the Global Liquid Sodium Methylate Market:
Evonik Industries AG, BASF SE, New Heaven Chemical INC Iowa LLC., Lian Chemical Development Company, American Elements, Sica Atlantic Group, ZHENGZHOU SAIHANG CHEMICAL TECHNOLOGY CO., LTD., Shandong Seesuns New Materials Technology Co., Ltd, Supracombines.com, and Brenntag N.V.
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Some Key Highlights from the Report
· The Liquid Sodium Methylate Market is divided into two types: solid and liquid. In 2021, the solid category accounted for the majority of revenue. Water dissolves white crystalline solid sodium methylate, which resembles a needle or plate-shaped crystal. It is largely used in the chemical industry to generate methylamines and methanol, which are required for the production of a wide range of organic compounds such as phenols, acetone, acetic acid, and aniline. It is also used to make biodiesel by transesterifying vegetable oils with various kinds of alcohol (methanol). Because of its outstanding properties such as low vapour pressure, high melting point, and resistance to oxidation, the solid form of sodium methylate has been studied.
· According to geographical study, the Asia Pacific market will account for the most revenue share in 2021. Because China and India have the fastest increasing populations, several sectors, including automotive and transportation, are booming in this area. The presence of various well-known automobile manufacturers in this region influences people's desire to possess cars and vehicles. Sodium methylate is widely utilised in the production of biodiesel, which is used in automobiles. Furthermore, rising environmental consciousness and encouragement among individuals to use biofuels such as biodiesel are likely to promote market revenue development.
· BASF SE stated in April 2020 that it will boost sodium methylate manufacturing capacity in Guaratinguetá, Brazil. This extension increases capacity by 30%, from 60,000 to 80,000 metric tonnes, and will be operational in 2020. Higher producing capacity and lower preparation costs for biodiesel are predicted to enhance market revenue growth.
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Key Regional Markets Covered in the Report:
· North America (U.S.A., Canada, Mexico)
· Europe (Italy, U.K., Germany, France, Rest of Europe)
· Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
· Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
· Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
Liquid Sodium Methylate Market Segmentation
Type Outlook (Revenue, USD Billion; 2019-2030)
- Solid
- Liquid
Application Outlook (Revenue, USD Billion; 2019-2030)
- Pharmaceuticals
- Agro-Chemicals
- Plastics & Polymers
- Personal Care
- Analytical Reagent
- Biodiesel
- Others
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