#Potassium #Formate Market size is expected to reach USD 1.07 billion in 2030 from USD 0.77 billion in 2024, at a CAGR of 6.0% from 2024 to 2030. Download Full Report PDF Brochure at https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=69224407 Browse 220 market data Tables and 54 Figures spread through 180 Pages and in-depth TOC on "Potassium Formate Market" The demand for potassium formate is driven by several key factors, Demand for potassium formate in the market is fueled by its environmentally friendly characteristics, superior performance in target markets, and rising regulatory pressures on conventional chemicals. Potassium formate is broadly applied as a drilling and completion fluid in the oil & gas sector owing to its high density, low corrosiveness, and biodegradability, usability in HPHT wells and offshore drilling activities. Tight environmental regulations, such as the EU REACH Regulation, U.S. EPA standards, and Norway's offshore chemical legislation, have pushed the move away from chloride-containing fluids to potassium formate brines. The deicing market is another important driver, with airports, municipalities, and highway authorities increasingly adopting potassium formate-based deicers to minimize infrastructure corrosion and freshwater pollution, particularly in North #America and #Europe. Asia Pacific region is expected to register second-highest CAGR both in terms of value and volume during forecasted period The Asia-Pacific area is estimated to grow with the second-highest CAGR in the potassium formate market owing to increasing oil & gas exploration, growing industrial use, and developing usage in agricultural activities. Countries such as China, India, Australia, and Indonesia are hugely investing in the exploration of energy, especially for deepwater drilling and unconventional wells, thus inducing demand for the use of drilling and completion fluids based on potassium formate. The Asia-Pacific oil & gas market is trending towards environmentally friendly and high-performance brines in line with local environmental regulations for minimizing formation damage and water contamination. Key players - Prominent companies include Perstorp Holding AB (Sweden), Clariant (Switzerland), Thermo Fisher Scientific Inc (US), Eastman Chemical Company (US), Tetra Technologies Inc (US), ADDCON GmbH (Germany), Dynalene, Inc (US), Hawkins (US), American Elements (US), Hangzhou Focus Chemical Co., Ltd. (China), and among others. Don’t miss out on business opportunities in Potassium Formate Market. Speak to our analyst and gain crucial industry insights that will help your business grow. Read More Context at https://www.marketsandmarkets.com/Market-Reports/potassium-formate-market-69224407.html #business #Potassium #Formate