Sodium Methylate Market: Overview
- Sodium methylate (CH?Ona), also known as sodium methoxide, is a versatile chemical reagent and catalyst. It is available in white amorphous powder, which is formed by the deprotonation of methanol. It is a majorly used as reagent in various industries and laboratories.
- Sodium methylate reacts with water and forms sodium hydroxide and methyl alcohol. Sodium methylate is used as a catalyst in the production of biodiesel.
- The key advantage of sodium methylate is its virtually water-free character of the catalyst solution, which leads to low purification cost, high yield, and consistent biodiesel quality
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Rise in Demand for Biofuels to Drive Global Sodium Methylate Market
- Increase in need for reducing the carbon emissions in the transportation industry and growth in awareness about global warming and the Paris climate change objectives are major factors driving the demand for biofuels. Expansion in the automotive industry in Asia Pacific is projected to drive the demand for biodiesel. Rise in government initiatives for biodiesel production consequently create lucrative opportunities for the sodium methylate market during the forecast period.
- Extensive use of sodium methylate in the pharmaceutical production and rapid growth in the pharmaceutical industry are anticipated to drive the global sodium methylate market
- Increase in consumption of sodium methylate as a catalyst in various applications, including grease, edible oil processing, and synthetic detergents, is also estimated to drive the market during the forecast period.
- Presence of mercury during manufacturing of sodium methylate solution leads to contamination of the product. Manufacturers are developing alternative manufacturing methods and using different raw materials to avoid mercury presence. This is expected to propel the global sodium methylate market.
- Volatility in prices of raw materials such as methanol is expected to restrain the market during the forecast period
- The global sodium methylate market is facing supply-demand shortages due to the industrial shutdown triggered by the COVID-19 outbreak. Disruption in raw material supply is projected to hamper full-scale operations. Supply shortage has also led to a rise in prices of raw materials. Affected downstream supply chain might take longer to recover. The industrial shutdown has also adversely impacted product and inventory transportation, as the logistic services have been hampered due to the COVID-19 outbreak.
Liquid Form Segment to Offer Lucrative Opportunities
- Based on form, the global sodium methylate market can be segmented into solid and liquid
- The liquid segment is anticipated to dominate the market in the near future due to growth in consumption of liquid in the manufacture of biodiesel, where sodium methylate is used as a catalyst
- Solid form of sodium methylate is majorly used in the manufacture of pharmaceuticals and agrochemicals
Construction Segment to Hold Major Share of Market
- Based on application, the sodium methylate market can be divided into pharmaceuticals, agrochemicals, plastics & polymers, personal care, analytical reagent, biodiesel, and others
- The pharmaceuticals segment held major share of the market in 2019. This trend is expected to continue during the forecast period.
- Rise in demand for biodiesel is expected to drive the demand for sodium methylate during the forecast period
Asia Pacific to Constitute Significant Share of Global Sodium Methylate Market
- In terms of region, the global sodium methylate market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Asia Pacific dominated the global market in 2019, led by the presence of key manufacturers as well as growing trade activities from China
- Expansion of automotive and transportation industries in Asia Pacific is likely to boost the sodium methylate market in the region
- North America also held vital share of the global sodium methylate market in 2019
- The market in Europe is expected to expand at a fast-paced CAGR during the forecast period, owing to the rise in demand for biodiesel across the region.
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Key Players in Market
The global sodium methylate market is fragmented, with the presence of several regional and global manufacturers. Prominent players operating in the market are investing in mergers, acquisitions, expansion, and new product launches in order to maintain their leading position. They are also investing in development activities of advanced manufacturing processes.
Major players operating in the global sodium methylate market include:
- Evonik Industries AG
- BASF SE
- New Heaven Chemicals INC Iowa LLC
- Zhengzhou Saihang Chemical Technology Co. Ltd
- ANHUI JINBANG MEDICINE CHEMICAL CO., LTD
- Inner Mongolia Lantai Industrial Co., Ltd
- Shandong Xisace New Materials Technology Co. Ltd
- Supra Group of Companies
- Shandong Daze Chemical Group
- American Elements
- LIAN Chemical Development Co.
Global Sodium Methylate Market: Research Scope
Global Sodium Methylate Market, by Form
Global Sodium Methylate Market, by Application
- Plastics & Polymers
- Personal Care
- Analytical Reagent
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- Customer Experience Maps
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The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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Below is a snapshot of these quadrants.
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The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
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