Increasing catalyst application to propel the demand for sodium methoxide, market to register nearly 3.2% growth in terms of value over the forecast period– reveals Fact.MR
Published : 11 Jan 2019 Industry: Chemical & Materials
The global sodium methoxide market has witnessed development in the growth of the market over the last few years owing to increased production of sodium methoxide globally. However, with the rising investment in the catalyst application is anticipated to create a lucrative opportunity in the global sodium methoxide market. Volume sales of the global sodium methoxide market were pegged at 497,542.5 tons in 2017, according to a new Fact.MR research analysis. Significant growth of sodium methoxide in recent years has provided a likely amplification to the variety of end-use industries, thereby driving developments in the global market. Sodium methoxide industry in compelling a positive growth, with gaining enormous traction and expansion of different forms of sodium methoxide.
The current growth trend of the sodium methoxide market is primarily influenced by the rising demand for large-scale production in end-use industries across the globe. Furthermore, sales of sodium methoxide continue to be dominated by the legacy markets by the end of 2027 due to the presence of key manufacturing companies in these regions. This factor will aid the sodium methoxide vendors to build strategies to gain a high customer base, expand their production footprint, and the overall supply chain process in the global sodium methoxide market, thereby auguring well for the growth of the market. The number of players engaged in the manufacturing of the sodium methoxide is strategically focusing on expanding their production facilities in China due to low labor charges, the presence of advanced manufacturing technology, and cost-effective solutions compare to establish manufacturing countries well. The growth of the global sodium methoxide market consist of several key macroeconomic factors such as global GDP rate, chemical industry growth rate, biodiesel production growth rate, growth rate of pharmaceutical industry and growth rate of associated industry including global methanol industry are among other key macroeconomic factors which are mainly responsible behind the growth of the market.
The global market for sodium methoxide is further segmented as form, packaging type, applications, end-use industry, and region. On the basis of form, global sodium methoxide market is segmented as amorphous powder, and aqueous solution. On the basis of packaging type, the market is further segmented into drums, bulk containers, and glass bottles. On the basis of application, the market is segmented as catalyst, precipitant. On the basis of end-use industry, the global sodium methoxide market is segmented into bio-energy, life science and pharmaceutical, agriculture, metallurgy, mining, oil & gas, personal care, and other industries (plastics, painting, transport & machinery). Bio-energy industry is anticipated to witness significant growth during the forecast period in the developed as well as developing regions such as North America, Europe, Latin America, APEJ, Japan, and MEA. The growth of sodium methoxide in different applications across the world is expected to boost the demand for sodium methoxide over the forecast period
Broader target application combined with significant demand from end-use industry is expected to expand the growth of sodium methoxide market
The sodium methoxide are used widely in several applications. Sodium methoxide process involves the reaction of sodium and methanol at a temperature of 80-85 degree Celsius which has to be stored at a dry place for preventing its harmful effects such as blindness, central nervous system among other effects. Furthermore, its broad application in the catalyst is expected to create lucrative opportunity in the global sodium methoxide market over the forecast period.
“Sodium methoxide is an essential chemical reagent found their application in the various end-use industries. It becomes a catalyst of choice in the large-scale production in the end-use industries across the globe primarily in the bio-energy industry. All the key producing companies in the bio-energy segment designs their plant to utilize the sodium methoxide which is estimated to boost its demand over the foreseen period.” says lead research analyst, Chemical & Material, at Fact.MR.”
Expansion in the production capacity of the key companies to amplify the sales of sodium methoxide
Fact.MR’s recent research study foretells the sodium methoxide market to exhibit a slow growth rate over the forecast period. Increasing overall sales of sodium methoxide is highly influenced by the expansion in the production capacity of the companies which has been witnessed in developed as well as emerging economies, which is estimated to create demand for the sodium methoxide market.
According to the recent activities of the key companies engaging in the manufacturing of sodium methoxide, the companies are primarily focused on expanding their production capacities to gain high market share in the near future. The increasing production of the product, the market has a positive impact on the demand of the sodium methoxide.
Europe dominance in the sodium methoxide market is likely to prevail, with a market share of more than 1/3rd of the global market by 2027-end in terms of volume sales. Evolving its applications in the bio-energy industry, particularly in Europe and America’s, will continue to favor the growth of the sodium methoxide market in these regions. However, sodium methoxide market in APEJ is foretold by the research analysis to grow at a strong growth rate.
Japan currently has a market share of nearly 3% and is likely to grow at a stagnant growth rate in comparison to the MEA sodium methoxide market over the forecast period.
Among the form of the sodium methoxide, aqueous solution has significantly more share as compared to amorphous powder which are expected to grow with the substantial growth rate during the forecast period.