New Jersey, NJ, Jan. 20, 2020 (GLOBE NEWSWIRE) — As per the report published by Fior Markets, the global sodium methylate market is expected to grow from USD 182.46 Million in 2018 to USD 237.67 Million by 2026 at a CAGR of 3.4% during the forecast period 2019-2026. Rising incidences of infectious diseases and increasing collaborative development efforts are the two factors affecting the demand of the market.
Market Outlook of the Sodium Methylate
- Sodium methylate is defined as a white to pale yellow color, odorless solid, obtained in powder form and it is a flammable compound, but not explosive, and can be decomposed when exposed to high heat. It is a versatile chemical reagent that is heavily used in various industries to manufacture high-value end products like pharmaceuticals, food ingredients, pigments, and crop-protecting agents. It also acts as the catalyst of choice for most biodiesel producers. Sodium methylate, also known as sodium methoxide (molecular formula CH3ONa), can be manufactured by an exothermic reaction between elemental sodium and methanol. Sodium methylate.
- Rising demand for sodium methylate as a catalyst in applications, like edible oil processing, grease, and synthetic detergents has stimulated the growth. Also, growing adoption of the chemical in the pharmaceutical industry to produce vitamins, Sulfadoxine, Sulfadiazine, Trimethoprim, etc is also propelling the growth of the market. But high cost of materials used in the production of sodium methylate may pose a major threat to the product. However, increase in demand for biodiesel supported by positive government initiatives in many countries is likely to spur the market growth in the coming years.
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Type Segment Analysis of the Sodium Methylate Market
The solid segment is dominating the market and valued around USD 109.29 Million in 2018 on account of its growing applications in pharmaceuticals, perfumes, dyes, and organic intermediates. It is widely used as a catalyst in the production of biodiesel.
Packaging Type Segment Analysis of the Sodium Methylate Market
- Drums
- Bulk Containers
- Glass Bottles
The drums packaging segment dominated the market with the highest share of 50.90% in 2018. The drums packaging segment is preferred among the rest as these drums protect them from heat, moisture, direct light, sources of ignition, etc..
Application Segment Analysis of the Sodium Methylate Market
The catalyst segment is dominating the market and valued around USD 112.76 Million in 2018. Sodium methylate is the preferred catalyst of choice for modern large-scale biodiesel production. As a catalyst, it accelerates the biodiesel chemical reaction process by reducing the energy needed to initiate the reaction.
End-User Segment Analysis of the Sodium Methylate Market
- Pharmaceutical
- Plastics & Polymers
- Bio-Diesel
- Personal Care
- Agrochemical
- Food Processing
- Others
The pharmaceutical segment is dominating the market and valued around USD 52.73 Million in 2018. Growth in the pharmaceuticals industry with rising expenditure on healthcare is expected to fuel the demand for sodium methylate.
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Region Segment Analysis of the Sodium Methylate Market
- North America (U.S. , Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
Asia Pacific region dominated the global sodium methylate market with USD 77.54 Million in 2018 where as the North America region is a growing rapidly in the market. Asia Pacific is dominating the market rapidly on account of the growing demand for chemicals in industries such as automotive, paints & coatings, and building & construction which is likely to boost the growth of the sodium methylate market in the region. North America region is anticipated to grow owing to the increasing use of sodium methylate in the pharmaceuticals industry. Additionally, the rising preference for biodiesel in the transportation sector on account of increasing environmental regulations to curb CO2 emissions is likely to propel the regional market growth.
Competitive Landscape and Key Vendors
- The major players of market include Evonik Industries AG, Desatec, Brenntag NV, American Elements, Supra Group of Companies, TGV Group, MSSA, BASF SE, Inner Mongolia Lantai Industrial Co., Ltd, FRP Services & Company, The Good Scents Company, Alfa Aesar, Fenix Process Technologies Pvt Ltd, and Gelest, Inc., among many others.
- For instance, in September 2017, BASF and Solvay agreed that BASF would acquire Solvay’s polyamide business, subject to approval of the relevant merger control authorities.
About the Report:
The global Sodium Methylate market is analysed on the basis of value (USD Million) volume (Tons), consumption (Tons), imports (Tons) and exports (Tons). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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