Global Sodium Methylate Market is expected to grow at a CAGR of 3.4% during the forecast period from 2019-2026

As per the report published by Fior Markets, the global sodium methylate market is expected to grow from USD 182.46 Million in 2018 to USD 237.67 Million by 2026 at a CAGR of 3.4% during the forecast period 2019-2026.Asia Pacific is dominating the market rapidlyon account of the growing demand for chemicals in industries such as automotive, paints & coatings, and building & construction which is likely to boost the growth of the sodium methylate market in the region.

Sodium Methylate Market by Type (Solid, Liquid),Packaging Type (Drums, Bulk Containers, Glass Bottles),Application, End-User, Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2019 to 2026.

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Leadersin the industry such as Evonik Industries AG, Desatec, Brenntag NV, American Elements, Supra Group of Companies, TGV Group, MSSA, BASF SE, Inner Mongolia Lantai Industrial Co., Ltd, FRP Services & Company, The Good Scents Company, Alfa Aesar, Fenix Process Technologies Pvt Ltd, and Gelest, Inc., among many others are offering greater opportunities and major players are continuously focusing on new product developments and venture capital investments to obtain the market share.For instance, in September 2017, BASF and Solvay agreed that BASF would acquire Solvay's polyamide business, subject to approval of the relevant merger control authorities.

The type segment is segmented into solid and liquid. The solid segment is dominating the market and valued around USD 109.29 Million in 2018 on accountof its growing applications in pharmaceuticals, perfumes, dyes, and organic intermediates. It is widely used as a catalyst in the production of biodiesel. The packaging type segment is segmented into drums, bulk containers and glass bottles. The drums packaging segment is dominating the market with the highest share of 50.90% in 2018. The drums packaging segment is preferred among the rest as these drums protect them from heat, moisture, direct light, sources of ignition, etc. The applicationsegment is segmented into catalyst and precipitant. The catalyst segment is dominating the market and valued around USD112.76 Million in 2018. Sodium methylate is the preferred catalyst of choice for modern large-scale biodiesel production. As a catalyst, it accelerates the biodiesel chemical reaction process by reducing the energy needed to initiate the reaction. The end-user segment is segmented into pharmaceutical, plastics & polymers, bio-diesel, personal care, agrochemical, food processing and others. The pharmaceutical segment is dominating the market and valued around USD52.73Million in 2018. Growth in pharmaceuticals industry with rising expenditure on healthcare is expected to fuel the demand for sodium methylate.

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Rising demand for sodium methylate as a catalyst in applications, like edible oil processing, grease, and synthetic detergents has stimulated the growth. Also, growing adoption of the chemical in the pharmaceutical industry to produce vitamins, Sulfadoxine, Sulfadiazine, Trimethoprim, etc is also propelling the growth of the market. Buthigh cost of materials used in the production of sodium methylate may pose a major threat to the product. However, increase in demand for biodiesel supported by positive government initiatives in many countries is likely to spur the market growthin the coming years.

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