Press release
Global Potassium Methylate Market Research Report 2023
Potassium methoxide is the alkoxide of methanol with the counterion potassium and is used as a strong base and as a catalyst for transesterification, in particular for the production of biodiesel.
The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
Currently, there are two major suppliers in this industry, they are Evonik and BASF. Market in this industry is highly concentrated and global top three manufacturers' total production share is 89.29% in 2019, include Evonik, BASF and Luxi Chemical.
The potassium methylate market can be segmented based on its primary applications in biodiesel production and the pharmaceutical and healthcare industries. Here's an overview of these two segments:
Biodiesel: Potassium methylate is a catalyst widely used in the production of biodiesel. Biodiesel is a renewable and cleaner-burning alternative to traditional diesel fuel, derived from vegetable oils or animal fats through a chemical process called transesterification. Potassium methylate acts as a catalyst in this process, facilitating the conversion of the oils or fats into biodiesel. It helps accelerate the reaction and improve the efficiency of the transesterification process, resulting in the production of high-quality biodiesel fuel.
Pharma & Healthcare: Potassium methylate also finds application in the pharmaceutical and healthcare industries, albeit to a lesser extent compared to biodiesel production. It is used as a reagent or intermediate in the synthesis of various pharmaceutical compounds. Potassium methylate can be employed in the manufacturing of drugs, APIs (active pharmaceutical ingredients), or as a reactant in specific chemical reactions for pharmaceutical synthesis. Its usage in the pharma and healthcare sectors depends on the specific requirements of the pharmaceutical manufacturers and the chemicals and compounds they produce.
The demand for potassium methylate in biodiesel production is influenced by factors such as the growth of the biodiesel industry, government policies promoting renewable fuels, and the need for cleaner energy sources to reduce greenhouse gas emissions. In the pharma and healthcare sector, the demand for potassium methylate is driven by the development and production of pharmaceutical compounds, drug formulations, and other related chemical processes.
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Segment by Type
• Solid Potassium Methylate
• Liquid Potassium Methylate
Segment by Application
• Biodiesel
• Pharma & Healthcare
• Other
BY REGION
• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa
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