Sodium Molybdate Market Incredible Possibilities, Growth with Industry Study, Detailed Analysis and Forecast to 2027| Hydrite Chemical Co., Noah Technologies Corporation, Omkar Speciality Chemicals Limited

Market Size – USD 2.19 Billion in 2018, Market Growth - CAGR of 6.7%, Market Trends – Increase in demand for Sodium Molybdate in fertilizers & animal feed.

The Global Sodium Molybdate Market is forecast to reach USD 3.67 Billion by 2027, according to a new report by Reports and Data. Sodium Molybdate is a white-colored inorganic sodium salt chemically having molybdate as the opposite ion. This chemical compound usually comes with crystalline solid and powder formation for the end uses. Sodium molybdate dihydrate is first produced and then synthesized to create anhydrous form of the chemical. Based on the end-use, these two types of sodium molybdate is formulated. Dihydrate contains water molecules, whereas the anhydrous form doesn’t contain water and offer a more pure form. The global market is growing at a substantial pace due to the growing demand for this inorganic compound in the agricultural industries for its beneficial use in the fertilizers manufacturing as an essential source of vital micronutrients for plant growth

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Key participants include Hydrite Chemical Co., Noah Technologies Corporation, Omkar Speciality Chemicals Limited, Chem-Met Co Inc, Aldon Corporation, Merck KGaA, Mil-Spec Industries Corporation, Old Bridge Chemicals, Inc., Mallinckrodt Pharmaceuticals, North Metal Chemical Co., and among others.

For the purpose of this report, Reports and Data have segmented the global sodium molybdate market on the basis of sales channel, type, end-use verticals, and region:

Sales Channel Outlook (Revenue, USD Billion; 2016-2027)
• Online Retailing
• Medical Stores & Brand Outlet

Type Outlook (Revenue, USD Billion; 2016-2027)
• Anhydrous
• Dihydrate

End-Use Verticals Outlook (Revenue, USD Billion; 2016-2027)
• Agricultural Industries
• Lubricant & Flame Retardant
• Feed Supplement
• Pigment & Coating
• Metal Finishing Industry
• Others

Regional Outlook (Revenue, USD Billion; 2016-2027)
• North America
o U.S
• Europe
o U.K
o France
• Asia Pacific
o China
o India
o Japan
• MEA
• Latin America
o Brazil

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The market in Asia Pacific is expected to retain its superiority in the overall market. Also, the fastest growth rate has been observed in the Asia Pacific region, owing to an extensive use of sodium molybdate in the agricultural industry and metal manufacturing industries as a corrosion inhibiting agent. China and India are some of the fastest-growing markets, while Germany and the United States hold some of the most prominent players in the market.

Further key findings from the report suggest

• Growing penetration of the online retailing businesses for the food items, especially in the emerging nations in Asia Pacific continent, is helping the market grow by broadening the outreach of the sellers in the areas where the scarcity of the offline vendors is observed. Also, due to the non-involvement of distributors in the supply chain model, the profit margin is way more than that of the offline store retailing. The online retailing is expected to grow at the highest CAGR of 6.3% throughout the forecast period.

• Surface treatments of the metals using this chemical compound include anti-corrosion characteristics which increase the longevity of the metal products, and also helps in heightening its productivity in the water surface. Lubricating agents made by sodium molybdate provides excellent durability at a high temperature, restraining the reactions occurring between two metal surfaces and in the rolling bearing in which the lubricating grease is enclosed.

• The colorless anhydrous solid crystalline form is widely used in the manufacturing process fertilizers and feed supplements for livestock. The anhydrous solid form possesses no water and suitable for storage and mixed in the chemical processing, after dissolving into water solution as this chemical is highly water-soluble.

• North America, with its high demand for this chemical in fertilizer manufacturing and feed supplement production for livestock, is accounted to retain a significant position in the global market by 2027, and the CAGR is calculated to be 7.1% during the forecast period.

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Major highlights of the report:

An all-inclusive evaluation of the parent market
The evolution of significant market aspects
Industry-wide investigation of market segments
Assessment of the market value and volume in the past, present and forecast years
Market share evaluation
Study of niche industrial sectors
Tactical approaches of the market leaders
Lucrative strategies to help companies strengthen their position in the market

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This release was published on openPR.