Sodium Methylate Market Segmentation
The global sodium methylate market has been segmented by product type, application, and region. On the basis of product type, the global market has been segmented into sodium methylate powder and sodium methylate solution. Sodium methylate is mostly produced in powdered form as it finds increasing applications in pharmaceuticals, dyes, perfumes, and organic intermediates. Sodium methylate powder is a strong reducing agent and reacts aggressively with the oxidants. It is widely used as a catalyst in the production of biodiesel. Sodium methylate solution is a versatile intermediate that is used in a variety of organic syntheses.
Based on application, the global market has been divided into pharmaceuticals, biodiesel, life sciences, chemicals, food processing, flavor & fragrances, and others. The pharmaceuticals application segment accounted for the largest share of the global sodium methylate market in 2017. The growing pharmaceuticals industry with increased spending on healthcare is expected to fuel the demand for sodium methylate during the forecast period. The biodiesel is expected to be the fastest growing application segment in the global sodium methylate industry growth on account of increasing demand for biodiesel in the transportation industry.
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Sodium Methylate Market Regional Analysis
The global sodium methylate market growth, by region, has been segregated into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
The market in Asia-Pacific accounted for the largest share of the global sodium methylate in 2017 and is expected to register a healthy CAGR during the review period. The increasing demand for chemicals in industries such as automotive, paints & coatings, and building & construction is likely to boost the growth of the sodium methylate market analysis in the region.
The markets in North America and Europe are expected to witness significant growth on account of the increasing use of sodium methylate in the pharmaceuticals industry. Additionally, the growing preference for biodiesel in the transportation sector on account of increasing environmental regulations to curb CO2 emissions is likely to propel the regional market growth during the forecast period.
The Latin American and the Middle East and African markets are expected to register moderate CAGR during the review period on account of the growing industrial base and increasing per capita disposable income of consumers.
Sodium Methylate Market Competitive Analysis
Some of the key players operating in the global sodium methylate are Evonik Industries AG (Germany), Desatec (Germany), Brenntag NV (Belgium), American Elements (US), Supra Group of Companies (India), TGV Group (India), MSSA (China), BASF SE (Germany), Inner Mongolia Lantai Industrial Co., Ltd (China), FRP Services & Company (Japan), The Good Scents Company (US), Alfa Aesar (US), Fenix Process Technologies Pvt Ltd (India), and Gelest, Inc. (US).
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