Global Sodium Methylate Market is Majorly Driven by the Rising Biodiesel Demand; Asserts MRFR Unleashing the Forecast for 2019-2027

 Description :

Global Sodium Methylate Market Research Report: Information By Type (Solid and Liquid), Application (Pharmaceuticals, Agrochemicals, Plastics & Polymers, Personal Care, Analytical Reagent, Biodiesel and others) and Region (Asia-Pacific, Europe, North America, Latin America, and the Middle East & Africa) - Forecast till 2027

Keywords :

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The global sodium methylate market is growing continually, mainly due to the growing use of these substrates in biodiesel production. Also, the surging demand for biodiesel blend, alongside the rising competitiveness of biodiesel exports and functional solutions business lines, substantiates the market growth.  Moreover, factors such as the continual investments in biodiesel plants due to the increase in soybean and biodiesel production accelerate the growth of the market to furthered height.

According to Market Research Future (MRFR), the global sodium methylate market was valued at USD 354.7 MN in 2018, which is projected to appreciate further at 4& CAGR during the review period (2019-2025). This growth is due to the increased absorption of sodium methylate by the prominent end-use industries. Besides, the extensive use of sodium methylate in the pharmaceutical industry, and the healthy growth of the pharmaceutical industry across the globe drive the growth of the market.

Also, the growing uses of biodiesel in the automotive and many other industries act as a major driving force for the market growth. Additional factors such as the growth of the automotive industry, and growing awareness of global warming are fueling the market growth, driving the demand for biodiesel. On the other hand, the price volatility and the demand-supply of methanol, which is the key raw material required for sodium methylate are estimated to hamper the growth of the market during the forecast period.

Nevertheless, augmenting demand for sodium methylate, which is projected to rise further in the emerging economies, would support the market growth throughout the analyzed period, offering many growth opportunities for the producers. Also, the need for de-carbonizing the emissions in the transportation industry led by the rising awareness for adverse impacts of fossil fuels on the environment are expected to push the market growth in the near future.

 

Global Sodium Methylate Market   - Segments

The analysis is segmented into three market dynamics.

By Type                   : Solid and Liquid.

By Application        : Pharmaceuticals, Agrochemicals, Plastics & Polymers, Personal Care, Analytical Reagent, Biodiesel, and others.

By Regions              :  North America, Europe, APAC, and Rest of the World.

 

Global Sodium Methylate Market   - Regional Analysis

Asia Pacific region dominates the global sodium methylate market. The largest market share attributes to the raw material advantages in the region. Besides, factors such as the increasing demand for sodium methylate across industrial verticals on account of the rapid industrialization rate and growing economy in the region drive the market growth.

Rapidly growing markets in countries such as China, India, and Japan contribute to the regional market growth majorly, witnessing the rising demand for sodium methylate. The APAC sodium methylate market is estimated to grow at 4.3% CAGR during the review period.

North America accounts for the second-significant share in the global sodium methylate market. The market is majorly driven by the strict regulatory framework, and the high adoption of improved manufacturing technology in sodium methylate production in the region.

The U.S., among other North American countries, accounts for the major contributor to the market growth due to the greater penetration of end-user industries in the country. The North American sodium methylate market had valued at USD 84.0 MN in 2018, which is estimated to grow further at a modest CAGR during the review period.

The sodium methylate market in the European region is growing continually. Factors such as the rapid industrialization and the presence of major industry players in the region drive the growth of the market. Also, the availability of advanced manufacturing techniques and the growing number of exports substantiate regional market growth.

Furthermore, the surging demand for sodium methylate and growing investments in industries fostering due to the improved living standard in the region influence market growth. The European sodium methylate market is estimated to register CAGR during the review period.

 

Sodium Methylate Market   - Competitive Landscape

Fiercely competitive, the global sodium methylate market appears to be fragmented due to the presence of many well-established players. To gain a larger competitive share, players incorporate strategic initiatives such as mergers & acquisitions, collaboration, product/technology, and expansion.

Major Players: 

Players leading the global sodium methylate market include BASF SE (Germany), Evonik Industries AG (Germany), New Heaven Chemicals INC Iowa LLC (US), Anhui Jinbang Medicine Chemical Co., Ltd. (China), Zhengzhou Saihang Chemical Technology Co. Ltd (China), Shandong Xisace New Materials Technology Co. Ltd (China), Inner Mongolia Lantai Industrial Co., Ltd (China), Supra Group of Companies (India), Shandong Daze Chemical Group (China), Envirocat (France), American Elements (US), and LIAN Chemical Development Co. (Iran), among others. 

 

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Industry/ Innovation/ Related News:

December 03, 2019 ---- Evonik Industries (Germany), a leading global specialty chemicals company, announced its plans to expand its sodium methylate capacity in Rosario, Argentina. The chemical major said that it would increase its production capacity for the biodiesel catalyst sodium methylate at from 60,000 to 90,000 metric tons. The new plant will be built out in two stages and is expected to be complete in 2021. Evonik’s decision to expand its biodiesel catalyst production is driven by soaring biodiesel demand in Argentina and Brazil and several recent biodiesel production capacity additions in the region. 

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