Sodium Methoxide Market to be Worth US$ 276 Million by 2033 : Fact.MR Report
Continuous Expansion of Pharmaceutical and Chemical Industries Increasing Adoption of Sodium Methoxide
Rockville , Oct. 18, 2023 (GLOBE NEWSWIRE) — A recently published research report by Fact.MR, a market research and competitive intelligence provider, asserts that the global sodium methoxide market stands at US$ 217.3 million in 2023. Further, worldwide sales of these chemical catalysts are forecasted to rise at 2.4% CAGR through 2033. Growing use of sodium methoxide as a catalyst in biodiesel production is predicted to contribute to revenue streams.
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Increasing use of sodium methoxide in several industries, including agro-based industries, pharmaceuticals, and agrochemicals, is predicted to generate enormous opportunities for suppliers. Moreover, it is used as a catalyst in synthetic detergents, grease, edible oil processing, etc., which is projected to further complement market growth across the world.
| Report Attribute | Details |
| Value Projection (2033) | US$ 276 Million |
| Growth Rate (2023-2033) | 2.4% CAGR |
| No. of pages | 170 Pages |
| No. of Tables | 138 Tables |
| No. of Figures | 106 Figures |
Key Takeaways from Market Study
- Worldwide demand for sodium methoxide reached a market value of US$ 212.2 million in 2022.
- The global sodium methoxide market is estimated at US$ 217.3 million in 2023.
- The market is set to reach a valuation of US$ 276 million by the end of 2033.
- Worldwide sales of sodium methoxide are projected to rise at a CAGR of 2.4% from 2023 to 2033.
- Asia Pacific is set to hold 38.1% share of the global market by 2033-end.
- Demand for sodium methoxide for use in pharmaceuticals is forecasted to increase at 2.5% CAGR through 2033.
“Growing use of sodium methoxide as a versatile reagent in several chemical synthesis processes along with its application in the production of fragrances, agrochemicals, etc., is projected to contribute to generating opportunities for players,” says a Fact.MR analyst.
Significant Increase in Biodiesel Production
Growth of the sodium methoxide market is driven by the increased production of biodiesel. Sodium methoxide is used as a catalyst in biodiesel production. The increasing demand for biodiesel is owing to its environmentally friendly and renewable features compared to conventional fossil fuels. These methoxide catalysts are used in the transesterification procedure for the conversion of animal fats or vegetable oils into biodiesel. Therefore, the increasing need for biodiesel as a clean energy source is forecasted to boost sodium methoxide demand across geographies.
Leading Market Players
Key manufacturers of sodium methoxide are
- Dezhou Longteng Chemical Co. Ltd.
- BASF SE
- E. I. du Pont de Nemours and Company
- Evonik Industries
- Anhui Jinbang Medicine Chemical Co. Ltd.
- Inner Mongolia Lantai Industries Co., Ltd.
- Zibo Xusheng Chemical Co. Ltd.
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the sodium methoxide market, presenting historical demand data for 2018 to 2022 and forecast statistics for 2023 to 2033.
The study divulges essential insights into the market based on type (solid, liquid/solution) and end-use industry (pharmaceuticals, agrochemicals, plastic & polymers, personal care, analytical reagents, biodiesel), across major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
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Sodium Chlorite Market: The value of Sodium Chlorite Market is projected to increase at a CAGR of around 7.1% during 2022 – 2032.
About Fact.MR:
Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.
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