Global Sodium Methylate Market Opportunity Assessment to Reveal Lucrative Growth Prospects for Players
Global Sodium Methylate Market: Introduction
Sodium methylate, also known as sodium methoxide (molecular formula CH3ONa), can be produced by an exothermic reaction between elemental sodium and methanol. Sodium methylate is a white to pale yellow color, odorless solid, obtained in powder form. It is a flammable compound, but not explosive, and it can be decomposed when exposed to high heat. Commercially, sodium methylate is available either in solid or liquid form. Generally, sodium methylate is sold as a 25% to 30% solution in methanol for various applications, such as the production of vitamin A1, B1, trimethoprim, sulfadiazine, and analytical agents, among others. It is also widely used as a catalyst in biodiesel production. Sodium methylate can easily react with oxygen. Hence, it is necessary to avoid the contact of sodium methylate with moisture or water, and air at high temperatures (above 1260C) to avoid its decomposition into sodium hydroxide and methanol. Sodium methylate is highly soluble in alcohols, such as methanol and ethanol, whereas it is insoluble in toluene and benzene. Sodium methylate finds various applications as a catalyst, especially in biodiesel production.
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Global Sodium Methylate Market: Dynamics
The global sodium methylate market is mainly driven by the increasing demand from various applications, especially in pharmaceutical and agriculture industries, and in the organic synthesis of various products. Rising demand for sodium methylate as a catalyst in applications, such as edible oil processing, grease, and synthetic detergents is further expected to drive growth of the market during the same period. Moreover, sodium methylate market is expected to be driven by anticipated steady growth in biodiesel production where it finds application as a catalyst. Growing demand for biodiesel, coupled with government initiatives in various countries over its blending has in turn resulted in an increase in biodiesel production capacity. This increase in production capacity of biodiesel has led to an increase in the demand for sodium methylate. Besides this, the presence of mercury in sodium methylate solution during its manufacturing leads to contamination of the product and has an effect on the catalytic activity of sodium methylate. Thus, the development of alternative methods with other raw materials in order to avoid mercury presence will help in growth of the global sodium methylate market.
Global Sodium Methylate Market: Segmentation
On the basis of type, the global sodium methylate market is segmented into:
- Solid
- Liquid (Solution)
On the basis of application, the global sodium methylate market is segmented into:
- Pharmaceutical
- Agrochemicals
- Plastics and Polymers
- Personal Care
- Analytical Reagent
- Biodiesel
- Others (paint and varnish, etc.)
Global Sodium Methylate Market: Regional Outlook
Geographically, the Asia Pacific (APAC) region dominates the global sodium methylate market. In APAC, China dominates the sodium methylate market with a relatively higher share in both, production and consumption, followed by India and Japan. Growing demand from pharmaceuticals and chemical industries, among others in APAC is expected to help propel the demand for sodium methylate over the forecast period. It is expected that APAC will register a healthy CAGR over the forecast period. North America, followed by Europe is a large market for sodium methylate in terms of consumption. Rising capacity of biodiesel production in the U.S., Germany, the U.K., etc. has resulted in an increase in the demand for sodium methylate in Europe and North America. Furthermore, in Europe, government initiatives to encourage the use of biofuel and reach a 10% mark in terms of consumption in the transportation sector is expected to boost the demand for sodium methylate over the forecast period. North America and Europe are expected to register significant growth over the same time frame. Latin America and the Middle East & Africa region are expected to register slow growth during the forecast period.
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Global Sodium Methylate Market: Market Participants
Examples of some of the market participants in the global sodium methylate market, identified across the value chain are
- BASF SE
- Evonik Industries
- I. du Pont de Nemours and Company
- Anhui Jinbang Medicine Chemical Co. Ltd.
- Zibo Xusheng Chemical Co. Ltd.
- Dezhou Longteng Chemical Co. Ltd.
- Inner Mongolia Lantai Industrial Co. Ltd