The ‘Global Sodium Methoxide Market Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global sodium methoxide market price, assessing the market on the basis of its segments like forms, applications, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 3.5%
Sodium methoxide is used extensively to manufacture pharmaceutical products including Vitamin A1, B1, sulfamethoxypyridazine, sulfadiazine, and trimethoprim, among others. Hence, the thriving pharmaceutical industry due to the increasing deficiency of vitamins and minerals among working adults, is propelling the demand for sodium methoxide. Increasing demand for vitamin tablets among bodybuilders is bolstering the sodium methoxide market growth.
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Additionally, sodium methoxide is crucial for the production of biodiesel which is witnessing a heightening demand across the automotive industry. The shift towards biodiesel by automobiles to curb emissions of CO2 is further bolstering the demand for the sodium methoxide market.
Meanwhile, sodium methoxide is also used in the food and beverage industry as a food colourant and flavouring agent. In this regard, the growing expansion of the food industry owing to the rising population and increasing disposable income is providing impetus to the market.
In terms of regions, the Asia Pacific occupies a leading share in the sodium methoxide market owing to the high growth opportunities offered to the end use industries due to the steady economic growth of emerging economies like India and China. The thriving chemical industry across the region is likely to bolster the value chain of the product, thereby, encouraging market growth.
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Sodium Methoxide Industry Definition and Major Segments
Sodium methoxide is defined as a chemical compound which appears in the form of a white amorphous powder. With a molecular weight of 54.024, its reaction with water is exothermic, and forms sodium hydroxide. Sodium methoxide in powdered form is utilised in various industries including pharmaceutical, personal care, and biodiesel, among others.
Based on form, the market can be segmented into:
- Solid
- Liquid
The market can be broadly categorised based on application into:
- Pharmaceuticals
- Plastic and Polymers
- Agrochemicals
- Analytical Reagent
- Personal Care
- Biodiesel
- Others
On the basis of region, the market can be categorised into:
- North America
- Asia Pacific
- Europe
- Latin America
- Middle East and Africa
Sodium Methoxide Market Trends
The growing research and development activities in the pharmaceutical sector are crucial trends in the sodium methoxide market. The growing prevalence of chronic diseases such as cancer and tuberculosis are encouraging the sale of end use pharma products of sodium methoxide. In addition, the increasing healthcare expenditure and rising per capita income are leading to a heightened penetration of sodium methoxide in the industry.
Sodium methoxide is also used as a major component in the manufacturing of cosmetics and beauty products. Hence, the thriving personal care industry is likely to be a key trend in the market. The growing expansion of the e-commerce industry, coupled with the rising purchasing power of the population is further boosting the sale of superior quality personal care products. The increasing hygienic awareness post pandemic is further providing impetus to the sodium methoxide market.
Furthermore, sodium methoxide is a key ingredient in the manufacturing process of plastics and polymers. Therefore, the increasing application of these in industries such as building, construction, and automotive, is a crucial sodium methoxide demand generating trend. The rapid industrialisation, urbanisation, and increasing expansion of industries such as healthcare across the developing countries are some of the trends which are likely to aid the demand for sodium methoxide in the coming years.
Key Market Players
The major players in the sodium methoxide market report are BASF SE, Anhui Jinbang Medicine Chemical Co., Ltd, Evonik Industries AG, Inner Mongolia Lantai Industrial Co. Ltd, Allegro Specialty Chemicals Pvt Ltd, and Kimia Pars Co., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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