The global sodium methoxide market is projected to expand by more than 3% during the forecast period (2018 – 2027). Need for chemicals used in the production of chemical fibers and dyes, oil processing, and medicinal formulations that call for catalytic reactions are some of the major factors that have led to expansion of the sodium methoxide market.
Additionally, the sodium methoxide market is anticipated to expand throughout the course of the forecast period as a result of rising demand from several applications, particularly the pharmaceutical and agro-based sectors. In the commercial electrolytic method that uses inert gas, sodium methoxide is made from sodium chloride and methanol.
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The global sodium methoxide market will also be driven by its use as a catalyst in the biodiesel sector. However, sodium methoxide is considered to be a common catalyst in the manufacturing of biodiesel and is highly reactive to oxygen.
In order to prevent it from breaking down into sodium hydroxide and methanol at high temperatures, it is maintained away from moisture, water, or air. Rising amount of biodiesel that can be produced as a result of the high demand for fuel and government initiatives in some nations to blend it with other fuels is also set to aid growth. Demand for sodium methylate has increased as a result of the rising biodiesel production capacity of various companies.
The pharmaceuticals sector represented a sizable portion of the sodium methoxide market. Production of several molecules, ranging from medicines to agrichemicals, is possible by using sodium methoxide. It is employed in the pharmaceutical sector to produce a large number of vitamins, including vitamin B1, vitamin A1, trimethoprim, and sulfadoxine.
Asia Pacific is set to dominate the sodium methoxide market in the next decade. The market for sodium methoxide is projected to be driven by increasing use of the chemical in the bio-energy sector in both developed and emerging nations like China and India. Manufacturers are utilizing cutting-edge technology to produce sodium methoxide in order to draw in a variety of end-use sectors and increase their market share & profitability margins on a global scale.
Key Takeaways:
- Asia Pacific excluding Japan sodium methoxide market is poised to expand by 1.5x through 2027.
- Europe currently dominates the sodium methoxide market with a share of more than 35%.
- In Asia Pacific, China is projected to generate the lion’s share amid the presence of a large number of chemical manufacturers.
- Latin America and the Middle East & Africa are expected to showcase steady growth with ongoing development of new manufacturing facilities.
- North America sodium methoxide market is set to grow 1.3x during the forecast period (2018-2027).
Growth Drivers:
- Rising use of sodium methoxide as a catalyst in various applications such as synthetic detergents, grease, and oil processing is likely to aid growth.
- Use of sodium methoxide for the synthesis of several compounds, right from agrochemicals to pharmaceuticals, is set to push growth.
Competitive Landscape:
Leading players in the sodium methoxide market are likely to adopt a wide range of development tactics such as product launches, product approvals, mergers & acquisitions, collaborations, and joint ventures. They are developing innovative products to cater to the changing requirements of their clients.
For instance,
- In April 2018, BASF announced that its facility for sodium methoxide in Brazil will be able to produce more product. A 30% increase in terms of capacity will be made from the current 60,000 metric tons to 80,000 metric tons. The plant will start working in 2020 with the extra capacity.
- In January 2020, a new silica plant with several applications was discovered in the German region of Geesthacht by the company Evonik.
Key Companies Profiled by Fact.MR
- BASF SE
- Evonik Industries
- E.I du Pont de Nemours and company
- Anhul jinbang Medicines Chemical Co. Ltd.
- Zibo Xusheng Chemical Co. Ltd.
- Inner Mongolia Lantal Industrial Co. Ltd.
- Supra Group of Companies
- Desatec
- Senxuan
More Valuable Insights on Sodium Methoxide Market
In the latest study, Fact.MR offers a detailed study on global sodium methoxide market for the forecast period of 2018 to 2027. This study also highlights key drivers promoting the sales of sodium methoxide through detailed segmentation as follows:
By Form:
- Amorphous Powder
- Aqueous Solution
By Packaging Type:
- Drums
- Bulk Containers
- Glass Bottles
By Application:
- Catalyst
- Precipitant
By End-use Industry:
- Bio-energy
- Life Science and Pharmaceutical
- Agriculture
- Metallurgy
- Mining
- Oil & Gas
- Personal Care
- Others (Plastics, Painting, Transport & Machinery)
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa.
Key Questions Covered in the Sodium Methoxide Report
- What is the projected value of the sodium methoxide market in 2018?
- At what rate will the global sodium methoxide market grow until 2027?
- Which are the factors hampering the growth in the sodium methoxide market?
- Which region is expected to lead in the global sodium methoxide market during 2018-2027?
- Which are the factors driving the sodium methoxide market during the forecast period?
- What is the expected market value of the sodium methoxide market during the forecast period?
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