Sodium Formate Market: Sales Driven by Sustained Demand in Production of Sodium Hydrosulphite

Rockville, USA, 2019-Jul-18 — /EPR Network/ —

An extensive methodology and a holistic approach lay the foundation of the incisive insights on the sodium formate market landscape. The Fact.MR report provides exhaustive information pertaining to the growth prospects of sodium formate industry along with intriguing insights into the projection analysis of the market. Extensive primary and secondary research underpins the collection of actionable insights on the sodium formate market. The report on sodium formate market has also undergone cross-validation to certain the delivery of precise information to the market enthusiasts.

Global consumption volume of sodium formate neared 640 thousand tons in 2018, according to a recent research study of Fact.MR. Highly influenced by a couple of strong restraining factors, the global sodium formate consumption volume is likely to record a mere 2.5% Y-o-Y growth in 2019. Strengthening sustainable raw material pricing strategies will remain among the key actionable areas for leading stakeholders in the sodium formate market, in addition to leveraging the traction witnessed for high-efficiency de-icing agents.

For Additional Insights on the Key Dynamics Influencing Sodium Formate Market:

Table of Content

1. Executive Summary
    1.1. Summary of Key Findings
    1.2. Summary of Statistics
    1.3. Mega Trend in Chemical Industry
    1.4. Fact.MR Analysis and Recommendations
2. Market Overview
    2.1. Market Introduction
    2.2. Market Definition
    2.3. Market Taxonomy
3. Key Market Trends
    3.1. Key Trends Impacting the Market
    3.2. Development Trends
4. Market Background
    4.1. Global Chemical Industry Outlook
        4.1.1. Chemical sales by region
        4.1.2. Top 10 countries in the chemical market
    4.2. Sodium Formate overview
        4.2.1. Manufacturing process
    4.3. Global Oil & Gas Industry Overview and Outlook
        4.3.1. Total Proved reserves of Crude Oil
        4.3.2. Global Crude Oil production
   By Region
   By key countries
    4.4. U.S. Historic & Current Oil & Gas production scenario
        4.4.1. Rig count
    4.5. Crude Oil Price Movements
        4.5.1. WTI price movements
        4.5.2. Brent price movements
    4.6. Regulatory Framework
    4.7. Forecast Factors – Relevance & Impact
        4.7.1. Global GDP outlook
        4.7.2. Global Chemical industry outlook
        4.7.3. Population growth estimates
    4.8. Value Chain Analysis
        4.8.1. List of Key Manufacturers
        4.8.2. List of Distributors
        4.8.3. List of End-users
        4.8.4. Value added at each node
    4.9. Market Dynamics
        4.9.1. Drivers
        4.9.2. Restraints
        4.9.3. Opportunity Analysis

Key Growth Determinants – Sodium Formate Market

  • Sodium formate has been lately witnessing increasing applicability in leather tanning formulations owing to its abilities to catalyze penetration of chrome in leather and add value to the end product’s quality. South Asia’s high-growth potential for sodium formate market banks on expansion of India’s leather industry. The market in this region is estimated to see a relatively higher, 3% Y-o-Y growth in 2019 over the revenues attained in 2018.
  • There has been a considerable rise in adoption of solid form of sodium formate as a sustainable and effective de-icing solution, particularly for airport runways. When mixed with reliable corrosion inhibitors and other additives, sodium formate demonstrates brisk penetration into snow and solid ice layers surfacing concrete structures. A mass shift to biodegradable de-icing solutions is likely to favor sales of sodium formate in years to come.

Sodium Formate Market in Numbers

  • Predominantly averted by widespread availability of economically favorable alternatives, sodium formate sales have been sluggish over the recent past.
  • Between 2013 and 2017, the global sodium formate market growth registered below 2% CAGR.
  • Global sales of sodium formate exceeded US$ 210 Mn in 2018, and are expected to observe 2.8% CAGR through 2028, prominently driven by the sustained demand in production of sodium hydrosulphite – a popular bleaching agent used in paper and pulp industry.
  • Europe is likely to remain the leading market for sodium formate, upheld by the strong presence of leading players and rising sodium formate adoption for de-icing applications at airport runways.
  • In the light of increasing sustainability quest, the eco-friendly attribute of sodium formate is anticipated to help manufacturers pinpoint the most profitable opportunities.


Sodium Format Landscape – Competition Analysis

According to the Fact.MR study, consolidation of market leaders is characterizing the global competition landsacape of sodium formate market. While the key companies actively operating in sodium formate marketplaces are focused on retaining their global footprint on the basis of stronger sales strategies, improvement of their regional foothold will remain highly influenced by application-specific strategies. For instance, the European market for sodium formate has been recently observing prioritization of sodium formate production capacity expansion by regional leaders, who are keen on tapping the escalating demand for sustainable de-icing solutions for airport runways, bridges, and other structures within the region that always demand an effective de-icing treatment. On the other hand, followers in the competition landscape are likely to majorly rely on strategic partnerships to achieve a dual objective of enhanced manufacturing output and business expansion.

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