Report Code: A10474 | Pages: NA | Mar 2023 | 986 Views | ||
Author(s) : NA | Tables: NA | Charts: NA |
|
Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Sodium Formate Market
Request Now !Sodium formate is the white deliquescent powder, which is actually the sodium salt of formic acid. Sodium formate is commercially manufactured by neutralizing formic acid with sodium carbonate. It is produced by the reaction of sodium hydroxide with chloroform. Sodium formate plays key roles as a dying agent, food additive, non-corrosive, and de-icing agent in several end-user industries, including food & beverage, textile, and printing. The nontoxicity and biodegradability of the compound make it ecofriendly and easy to use. Sodium formate is further used as a cryogenic protectant in X-ray diffraction experiments.Â
Market scope and structure analysis:
Report Metric | Details |
 Market size available for years |  2019–2027 |
 Base year considered |  2019 |
 Forecast period |  2020–2027 |
 Forecast units |  Value (USD) |
 Segments covered |  Applications, Industry Vertical, and Region |
 Regions covered | North America (U.S. and Canada), Europe (Germany, UK, France, and the Rest of Europe), Asia Pacific (China, Japan, India, and the Rest of Asia Pacific), Latin America (Brazil, Mexico, and the Rest of LATAM), and Middle East and Africa (Saudi Arabia, UAE, Kuwait, South Africa, and Rest of MEA) |
 Companies covered | BASF SE, PerstorpOrgnr, Honeywell International Inc., TCI Chemicals (India) Pvt. Ltd., AvantorPerformance Materials LLC, Vertellus Holdings LLC, Kanoria Chemicals & Industries Ltd., Alder S.p.A, Asian Paints and Acros Organics. |
Â
COVID-19 scenario analysis:
Top impacting factors: market scenario analysis, trends, drivers, and impact analysis
The extensive use of sodium formate in different end user industries have led to the growth of the Global sodium formate market. Various regulatory bodies such as the Food and Drug Administration (FDA) has confirmed that sodium formate is safe to be used as food additives in the animal nutrition sector after the ban on different antibiotic growth promoters. Sodium formate also has a wide array of applications in the printing and textile industries. With the introduction of advanced printing techniques that involve the use of sodium formate, the demand for sodium formate is expected to increase in the market. The effective alkali neutralization and PH control off sodium formate along with the ecofriendly nature makes it popular in the digital printing market. On the other hand, there is an increase in demand for sodium formate in the aerospace industry as an anti-corrosion and deicing material. The compound is frequently used to clear runways and detaching snow from concrete at a rapid pace. Various major companies, such as Asian Paints have, increased their production of sodium formate to meet the demands across the globe. However, the fluctuating prices of the raw material mind dampen the growth of the sodium formate market.
Asia-Pacific region dominates the global sodium formate market because of the high population density and the increasing demand for printing and textile industries in the region. The market in Europe is also expected to witness lucrative growth owing to the stringent environmental regulations on using eco-friendly compounds in the industries.
Key segments covered:
Segments | Subsegments |
 Applications |
|
 Industry Vertical |
|
Key benefits of the report:
Questions answered in the sodium formate market research report:
Sodium Formate Market: Global Opportunity Analysis and Industry Forecast, 2020–2027 Report Highlights
Aspects | Details |
---|---|
By Applications |
|
By Industry Vertical |
|
By Region |
|
Key Market Players | BASF SE, PerstorpOrgnr, Honeywell International Inc., TCI Chemicals (India) Pvt. Ltd., AvantorPerformance Materials LLC, Vertellus Holdings LLC, Kanoria Chemicals & Industries Ltd., Alder S.p.A, Asian Paints, Acros Organics |
Loading Table Of Content...
Start reading.
This Report and over 19,605+ more Reports, Available with Avenue Library. T&C*.
Enterprise
License/PDF
Library
Membership
*Taxes/Fees, if applicable will be added during checkout. All prices in USD
To ensure high-level data integrity, accurate analysis, and impeccable forecasts
For complete satisfaction
On-demand customization of scope of the report to exactly meet your needs
Targeted market view to provide pertinent information and save time of readers
Get insights on topics that are crucial for your business. Stay abreast of your interest areas.
Get Industry Data AlertsTo ensure high-level data integrity, accurate analysis, and impeccable forecasts
For complete satisfaction
On-demand customization of scope of the report to exactly meet your needs
Targeted market view to provide pertinent information and save time of readers