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Sodium Formate Market
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Sodium Formate Market

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Sodium Formate Market - Global Size, Share, Trend Analysis, Opportunity and Forecast Report, 2019–2029, Segmented By Application (Food Additives, Catalysts, Reducing Agents, De-icing Agents, Chemical Intermediates); By Industry Vertical (Aviation, Food & Beverages, Textile, Printing, Oil & Gas, Chemical); By Region (North America, Europe, Asia Pacific, Latin America, Middle East and Africa)

  • Published Date: March 2023
  • Report ID: BWC23224
  • Available Format: PDF
  • Page: 400

Report Overview

Increasing strict regulations associated with organic acids and high requirement for the product from various industries, particularly the aviation industry, are expected to propel the expansion of global sodium formate market during the forecast period between 2023 and 2029.

Global Sodium Formate Market- Industry Trends & Forecast Report, 2029

Global sodium formate market size was estimated at USD 464.98 million in 2022. During the forecast period between 2023 and 2029, the size of global sodium formate market is projected to grow at a CAGR of 6.4% reaching a value of USD 713.56 million by 2029. Major growth drivers for global sodium formate market include an increasing demand for deicing agents in cold regions, the growth of the construction industry, and the rising demand for sodium formate in the oil & gas industry. The demand for sodium formate is driven by several other industries, such as textile dyeing, aviation, and leather. Particularly in aviation, sodium formate is utilized for de-icing runways since it is less likely to be displaced or blown away by regular aircraft or traffic movement. At airports, granular sodium formate is often applied as a deicing agent, softening compacted snow on runways due to heavy snowfall, and allowing for mechanical ice removal. Hence, such factors are expected to boost the expansion of sodium formate market globally during the period in analysis.

Global Sodium Formate Market

Global Sodium Formate Market – Overview

Sodium formate is an organic salt of sodium that serves a vital role as a buffer and astringent due to its formate content. It appears as a deliquescent substance that can be in the form of white crystals or powder. Sodium formate is typically produced through a chemical reaction where solid sodium hydroxide absorbs carbon monoxide under pressure at 130°C and 6-8 bar pressure to form granules of sodium formate. The demand for sodium formate in the market is high, and due to its low cost, chemical manufacturers produce it on a large scale using various chemical processes and compounds. The market for sodium formate is expected to grow significantly in the coming years due to its increasing use in various industries.

Global Sodium Formate Market

Growth Drivers

Regulations Associated with Organic Acids

An increasing demand for organic acids in the animal nutrition industry is being driven by several regulations and an increasing awareness of their benefits in improving feed quality and animal performance. As a result, the sales of sodium formate in this industry are expected to increase significantly in the coming years. The Food and Drug Administration (FDA) has recently revised regulations regarding the safe use of sodium formate as a food additive, and the European Food Safety Authority (EFSA) has approved its use in the creation of animal feed additives. These approvals have led to a significant demand for sodium formate in animal feed additives, thus contributing to overall market growth.

Restraints

Fluctuating Raw Material Costs

Manufacturing companies are facing significant challenges due to volatility and instability in global raw material markets. The rising energy costs and unexpected fluctuations in raw material prices are impacting the stability of supply chains, making it difficult for manufacturers to maintain profitability. To cope with the fluctuating prices of raw materials, manufacturers either absorb the increased costs or pass them on to consumers or downstream markets, each with its own risks. Sodium Formate products heavily rely on carbon monoxide and sodium hydroxide, both of which present challenges. Carbon monoxide is a poisonous gas that can result in death if exposed for a longer period, and its supply has been disrupted due to the outbreak of the epidemic. The uncertain world economy is also putting pressure on industry participants, adding to the challenges for manufacturers.

Impact of COVID-19 on Global Sodium Formate Market

COVID-19 pandemic and resultant stringent lockdown measures caused significant disruptions to business and economic activities worldwide, resulting in a short-term impact on the sodium formate market. Due to the widespread lockdowns and temporary closures of various industries announced by several countries, production and manufacturing have been severely affected. It has caused a shortage of funds for small and medium-sized enterprises (SMEs), reducing their solvency and negatively impacting production and sales. Some enterprises are facing operational difficulties and may even go bankrupt. The pandemic has also had a significant impact on logistics and transportation, making it difficult to transport raw materials. The industrial chain of SEMs is weak and susceptible to disruption. Furthermore, trade barriers have led to a further decline in demand and supply. Companies in the sodium formate market have suspended non-essential visits and activities until the COVID-19 pandemic is resolved.

Global Sodium Formate Market

Segmental Coverage

Global Sodium Formate Market – By Application

By application, global sodium formate market is divided into Food Additives, Catalysts, Reducing Agents, De-icing Agents, and Chemical Intermediates segments. The catalyst segment held the highest market share in the global sodium formate market in 2022. Following the catalyst segment, the food additive segment held the second-largest market share in 2022. Sodium formate plays a crucial role in preserving food additives by preventing degradation caused by unfavorable chemical reactions or microbial growth. The demand for processed food products is being driven by the increasing number of working women and changing consumer lifestyles, which in turn is boosting the food additive market and the demand for sodium formate.

Global Sodium Formate Market – By Industry Vertical

Based on industry vertical, global sodium formate market is divided into Aviation, Food & Beverages, Textiles, Printing, Oil & Gas, and Chemicals segments. The food & beverages segment dominated the global sodium formate market, and it is expected to continue to do so in the future. The demand for balanced electrolytes in swine and poultry feed has led to sodium formate being considered a suitable feed acidifying ingredient. The increasing use of organic acid foods as additives may also impact the sodium formate market. Sodium formate is categorized by the FDA as an indirect food additive for animal feed and is allowed as a component for food packaging under GRAS. The aviation industry is predicted to grow in the next few years due to concerns over the environmental impact of deicing chemicals, leading to a shift to formate-based deicers. The printing industry's segment and the leather and pharmaceutical industries' use of sodium formate are also contributing to the market's expansion. The upstream oil and gas segment has also noticed an increase in demand for sodium formate as it is used to make clear brine, a vital component in work over and completion procedures.

Global Sodium Formate Market – By Region

Global sodium formate market covers five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. In 2022, the Asia-Pacific region dominated the global sodium formate market. The demand for sodium formate in the region is driven by the growth of the textile industry, which is expanding due to changing consumer patterns, growing population, rising disposable incomes, and increasing demand for apparel and home furnishing items. Sodium formate is used in the textile industry for dyeing and printing fabrics and paper to increase their brightness. The region is also the largest exporter of textile and clothing products, with China accounting for 37% of worldwide exports. The low production costs and availability of cheap labor in Asian countries are the primary reasons for the growth of the textile industry in the region. Europe was the second largest market in 2022. Sodium formate is primarily used in the region for de-icing airport runways and complying with strict environmental laws. Major stakeholders in the industry are looking to expand their presence in Europe to meet the potential high demand in the region. The global economy is expected to continue its upswing in the forthcoming years, which would further fuel the growth of the sodium formate market in Europe.

Competitive Landscape

Major players operating in global sodium formate market include Perstorp, BASF SE, MKS Marmara Tüm Haklari Saklidir, Alder SpA, Metafrax Chemicals, Asian Paints, Kanoria Chemicals & Industries Ltd., Zibo Ruibao Chemical Co. Ltd., SOLVAY, Honeywell International Inc., TCI Chemicals (India) Pvt. Ltd., Avantor, Inc., Vertellus, and Acros Organics. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Recent Developments

  • In August 2020 - BASF increased its footprint in China with the acquisition of alkoxylates producing assets from Sinopec Shanghai Petrochemical Company (SPC). As part of the transaction, BASF purchased SPC's property, structures, and assets near its facility in Jinshan, China.

Scope of the Report

Attributes

Details

Years Considered

Historical Data – 2019–2022

Base Year – 2022

Estimated Year – 2023

Forecast Period – 2023–2029

Facts Covered

Revenue in USD Million

Market Coverage

North America, Europe, Asia Pacific, Latin America, Middle East and Africa

Product/ Service Segmentation

Application, Industry Vertical, Region

Key Players

Perstorp, BASF SE, MKS Marmara Tüm Haklari Saklidir, Alder SpA, Metafrax Chemicals, Asian Paints, Kanoria Chemicals & Industries Ltd, Zibo Ruibao Chemical Co. Ltd, SOLVAY, Honeywell International Inc., TCI Chemicals (India) Pvt Ltd, Avantor, Inc., Vertellus, Acros Organics

 

By Application

  • Food Additives

  • Catalysts

  • Reducing Agents

  • De-icing Agents

  • Chemical Intermediates

By Industry Vertical

  • Aviation

  • Food & Beverages

  • Textiles

  • Printing

  • Oil & Gas

  • Chemicals

By Region

  • North America

  • Europe

  • Asia Pacific

  • Latin America

  • Middle East and Africa

  1. Research Framework
    1. Research Objective
    2. Product Overview
    3. Market Segmentation
  2. Executive Summary
  3. Global Sodium Formate Market Insights
    1. Industry Value Chain Analysis
    2. DROC Analysis
      1. Growth Drivers
        1. Increased Regulations Associated with Organic Acids
        2. High Requirement Across Aerospace Industry
      2. Restraints
        1. Fluctuating Raw Material Costs
      3. Opportunities
        1. Discovery of New Oil and Gas Reserves
      4. Challenges
        1. Availability of Alternatives
    3. Technology Advancements/Recent Developments
    4. Regulatory Framework
    5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
  4. Global Sodium Formate Market Overview
    1. Market Size & Forecast, 2019–2029
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Application
        1. Food Additives
        2. Catalysts
        3. Reducing Agents
        4. De-icing Agents
        5. Chemical Intermediates
        6. Others
      2. By Industry Vertical
        1. Aviation
        2. Food & Beverages
        3. Textile
        4. Printing
        5. Oil & Gas
        6. Chemicals
      3. By Region
        1. North America
        2. Europe
        3. Asia Pacific (APAC)
        4. Latin America (LATAM)
        5. Middle East and Africa (MEA)
  5. North America Sodium Formate Market
    1. Market Size & Forecast, 2019–2029
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Application
      2. By Industry Vertical
      3. By Country
        1. United States
          1. By Application
          2. By Industry Vertical
        2. Canada
          1. By Application
          2. By Industry Vertical
  6. Europe Sodium Formate Market
    1. Market Size & Forecast, 2019–2029
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Application
      2. By Industry Vertical
      3. By Country
        1. Germany
          1. By Application
          2. By Industry Vertical
        2. United Kingdom
          1. By Application
          2. By Industry Vertical
        3. Italy
          1. By Application
          2. By Industry Vertical
        4. France
          1. By Application
          2. By Industry Vertical
        5. Spain
          1. By Application
          2. By Industry Vertical
        6. Belgium
          1. By Application
          2. By Industry Vertical
        7. Russia
          1. By Application
          2. By Industry Vertical
          3.  
        8. The Netherlands
          1. By Application
          2. By Industry Vertical
        9. Rest of Europe
          1. By Application
          2. By Industry Vertical
  7. Asia-Pacific Sodium Formate Market
    1. Market Size & Forecast, 2019–2029
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Application
      2. By Industry Vertical
      3. By Country
        1. China
          1. By Application
          2. By Industry Vertical
        2. India
          1. By Application
          2. By Industry Vertical
        3. Japan
          1. By Application
          2. By Industry Vertical
        4. South Korea
          1. By Application
          2. By Industry Vertical
        5. Australia & New Zealand
          1. By Application
          2. By Industry Vertical
        6. Indonesia
          1. By Application
          2. By Industry Vertical
        7. Malaysia
          1. By Application
          2. By Industry Vertical
        8. Singapore
          1. By Application
          2. By Industry Vertical
        9. Vietnam
          1. By Application
          2. By Industry Vertical
        10. Rest of APAC
          1. By Application
          2. By Industry Vertical
  8. Latin America Sodium Formate Market
    1. Market Size & Forecast, 2019–2029
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Application
      2. By Industry Vertical
      3. By Country
        1. Brazil
          1. By Application
          2. By Industry Vertical
        2. Mexico
          1. By Application
          2. By Industry Vertical
        3. Argentina
          1. By Application
          2. By Industry Vertical
        4. Peru
          1. By Application
          2. By Industry Vertical
        5. Rest of LATAM
          1. By Application
          2. By Industry Vertical
  9. Middle East & Africa Sodium Formate Market
    1. Market Size & Forecast, 2019–2029
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Application
      2. By Industry Vertical
      3. By Country
        1. Saudi Arabia
          1. By Application
          2. By Industry Vertical
        2. UAE
          1. By Application
          2. By Industry Vertical
        3. Qatar
          1. By Application
          2. By Industry Vertical
        4. Kuwait
          1. By Application
          2. By Industry Vertical
        5. South Africa
          1. By Application
          2. By Industry Vertical
        6. Nigeria
          1. By Application
          2. By Industry Vertical
        7. Algeria
          1. By Application
          2. By Industry Vertical
        8. Rest of MEA
          1. By Application
          2. By Industry Vertical
  10. Competitive Landscape
    1. List of Key Players and Their Offerings
    2. Global Sodium Formate Company Market Share Analysis, 2022
    3. Competitive Benchmarking, By Operating Parameters
    4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
  11. Impact of Covid-19 on Global Sodium Formate Market
  12. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)
    1. Perstorp
    2. BASF SE
    3. MKS Marmara Tüm Haklari Saklidir
    4. Alder SpA
    5. Metafrax Chemicals
    6. Asian Paints
    7. Kanoria Chemicals & Industries Ltd.
    8. Zibo Ruibao Chemical Co. Ltd
    9. SOLVAY
    10. Honeywell International Inc.
    11. TCI Chemicals (India) Pvt. Ltd.
    12. Avantor, Inc.
    13. Vertellus
    14. Acros Organics
    15. Other Prominent Players
  13. Key Strategic Recommendations
  14. Research Methodology
    1. Qualitative Research
      1. Primary & Secondary Research
    2. Quantitative Research
    3.  Market Breakdown & Data Triangulation
      1.  Secondary Research˙
      2.  Primary Research
    4.  Breakdown of Primary Research Respondents, By Region
    5.  Assumptions & Limitations

 

*Financial information of case of non-listed companies can be provided as per availability.

**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable.

 

List of Figures

 

Figure 1       Global Sodium Formate Segmentation

Figure 2       Global Sodium Formate Market Value Chain Analysis

Figure 3       Company Market Share Analysis, 2022

Figure 4       Global Sodium Formate Market Size, By Value (USD Million), 2019–2029

Figure 5       Global Sodium Formate Market Share, By Application, By Value, 2019–2029

Figure 6       Global Sodium Formate Market Share, By Industry Vertical, By Value, 2019–2029

Figure 7       Global Sodium Formate Market Share, By Region, By Value, 2019–2029

Figure 8       North America Sodium Formate Market Size, By Value (USD Million), 2019–2029

Figure 9       North America Sodium Formate Market Share, By Application, By Value, 2019–2029

Figure 10     North America Sodium Formate Market Share, By Industry Vertical, By Value, 2019–2029

Figure 11     North America Sodium Formate Market Share, By Country, By Value, 2019–2029

Figure 12     United States Sodium Formate Market Size, By Value (USD Million), 2019–2029

Figure 13     United States Sodium Formate Market Share, By Application, By Value, 2019–2029

Figure 14     United States Sodium Formate Market Share, By Industry Vertical, By Value, 2019–2029

Figure 15     Canada Sodium Formate Market Size, By Value (USD Million), 2019–2029

Figure 16     Canada Sodium Formate Market Share, By Application, By Value, 2019–2029

Figure 17     Canada Sodium Formate Market Share, By Industry Vertical, By Value, 2019–2029

Figure 18     Europe Sodium Formate Market Size, By Value (USD Million), 2019–2029

Figure 19     Europe Sodium Formate Market Share, By Application, By Value, 2019–2029

Figure 20     Europe Sodium Formate Market Share, By Industry Vertical, By Value, 2019–2029

Figure 21     Europe Sodium Formate Market Share, By Country, By Value, 2019–2029

Figure 22     Germany Sodium Formate Market Size, By Value (USD Million), 2019–2029

Figure 23     Germany Sodium Formate Market Share, By Application, By Value, 2019–2029

Figure 24     Germany Sodium Formate Market Share, By Industry Vertical, By Value, 2019–2029

Figure 25     United Kingdom Sodium Formate Market Size, By Value (USD Million), 2019–2029

Figure 26     United Kingdom Sodium Formate Market Share, By Application, By Value, 2019–2029

Figure 27     United Kingdom Sodium Formate Market Share, By Industry Vertical, By Value, 2019–2029

Figure 28     Italy Sodium Formate Market Size, By Value (USD Million), 2019–2029

Figure 29     Italy Sodium Formate Market Share, By Application, By Value, 2019–2029

Figure 30     Italy Sodium Formate Market Share, By Industry Vertical, By Value, 2019–2029

Figure 31     France Sodium Formate Market Size, By Value (USD Million), 2019–2029

Figure 32     France Sodium Formate Market Share, By Application, By Value, 2019–2029

Figure 33     France Sodium Formate Market Share, By Industry Vertical, By Value, 2019–2029

Figure 34     Spain Sodium Formate Market Size, By Value (USD Million), 2019–2029

Figure 35     Spain Sodium Formate Market Share, By Application, By Value, 2019–2029

Figure 36     Spain Sodium Formate Market Share, By Industry Vertical, By Value, 2019–2029

Figure 37     Belgium Sodium Formate Market Size, By Value (USD Million), 2019–2029

Figure 38     Belgium Sodium Formate Market Share, By Application, By Value, 2019–2029

Figure 39     Belgium Sodium Formate Market Share, By Industry Vertical, By Value, 2019–2029

Figure 40     Russia Sodium Formate Market Size, By Value (USD Million), 2019–2029

Figure 41     Russia Sodium Formate Market Share, By Application, By Value, 2019–2029

Figure 42     Russia Sodium Formate Market Share, By Industry Vertical, By Value, 2019–2029

Figure 43     The Netherlands Sodium Formate Market Size, By Value (USD Million), 2019–2029

Figure 44     The Netherlands Sodium Formate Market Share, By Application, By Value, 2019–2029

Figure 45     The Netherlands Sodium Formate Market Share, By Industry Vertical, By Value, 2019–2029

Figure 46     Rest of Europe Sodium Formate Market Size, By Value (USD Million), 2019–2029

Figure 47     Rest of Europe Sodium Formate Market Share, By Application, By Value, 2019–2029

Figure 48     Rest of Europe Sodium Formate Market Share, By Industry Vertical, By Value, 2019–2029

Figure 49     Asia-Pacific Sodium Formate Market Size, By Value (USD Million), 2019–2029

Figure 50     Asia-Pacific Sodium Formate Market Share, By Application, By Value, 2019–2029

Figure 51     Asia-Pacific Sodium Formate Market Share, By Industry Vertical, By Value, 2019–2029

Figure 52     Asia-Pacific Sodium Formate Market Share, By Country, By Value, 2019–2029

Figure 53     China Sodium Formate Market Size, By Value (USD Million), 2019–2029

Figure 54     China Sodium Formate Market Share, By Application, By Value, 2019–2029

Figure 55     China Sodium Formate Market Share, By Industry Vertical, By Value, 2019–2029

Figure 56     India Sodium Formate Market Size, By Value (USD Million), 2019–2029

Figure 57     India Sodium Formate Market Share, By Application, By Value, 2019–2029

Figure 58     India Sodium Formate Market Share, By Industry Vertical, By Value, 2019–2029

Figure 59     Japan Sodium Formate Market Size, By Value (USD Million), 2019–2029

Figure 60     Japan Sodium Formate Market Share, By Application, By Value, 2019–2029

Figure 61     Japan Sodium Formate Market Share, By Industry Vertical, By Value, 2019–2029

Figure 62     South Korea Sodium Formate Market Size, By Value (USD Million), 2019–2029

Figure 63     South Korea Sodium Formate Market Share, By Application, By Value, 2019–2029

Figure 64     South Korea Sodium Formate Market Share, By Industry Vertical, By Value, 2019–2029

Figure 65     Australia & New Zealand Sodium Formate Market Size, By Value (USD Million), 2019–2029

Figure 66     Australia & New Zealand Sodium Formate Market Share, By Application, By Value, 2019–2029

Figure 67     Australia & New Zealand Sodium Formate Market Share, By Industry Vertical, By Value, 2019–2029

Figure 68     Indonesia Sodium Formate Market Size, By Value (USD Million), 2019–2029

Figure 69     Indonesia Sodium Formate Market Share, By Application, By Value, 2019–2029

Figure 70     Indonesia Sodium Formate Market Share, By Industry Vertical, By Value, 2019–2029

Figure 71     Malaysia Sodium Formate Market Size, By Value (USD Million), 2019–2029

Figure 72     Malaysia Sodium Formate Market Share, By Application, By Value, 2019–2029

Figure 73     Malaysia Sodium Formate Market Share, By Industry Vertical, By Value, 2019–2029

Figure 74     Singapore Sodium Formate Market Size, By Value (USD Million), 2019–2029

Figure 75     Singapore Sodium Formate Market Share, By Application, By Value, 2019–2029

Figure 76     Singapore Sodium Formate Market Share, By Industry Vertical, By Value, 2019–2029

Figure 77     Vietnam Sodium Formate Market Size, By Value (USD Million), 2019–2029

Figure 78     Vietnam Sodium Formate Market Share, By Application, By Value, 2019–2029

Figure 79     Vietnam Sodium Formate Market Share, By Industry Vertical, By Value, 2019–2029

Figure 80     Rest of APAC Sodium Formate Market Size, By Value (USD Million), 2019–2029

Figure 81     Rest of APAC Sodium Formate Market Share, By Application, By Value, 2019–2029

Figure 82     Rest of APAC Sodium Formate Market Share, By Industry Vertical, By Value, 2019–2029

Figure 83     Latin America Sodium Formate Market Size, By Value (USD Million), 2019–2029

Figure 84     Latin America Sodium Formate Market Share, By Application, By Value, 2019–2029

Figure 85     Latin America Sodium Formate Market Share, By Industry Vertical, By Value, 2019–2029

Figure 86     Latin America Sodium Formate Market Share, By Country, By Value, 2019–2029

Figure 87     Brazil Sodium Formate Market Size, By Value (USD Million), 2019–2029

Figure 88     Brazil Sodium Formate Market Share, By Application, By Value, 2019–2029

Figure 89     Brazil Sodium Formate Market Share, By Industry Vertical, By Value, 2019–2029

Figure 90     Mexico Sodium Formate Market Size, By Value (USD Million), 2019–2029

Figure 91     Mexico Sodium Formate Market Share, By Application, By Value, 2019–2029

Figure 92     Mexico Sodium Formate Market Share, By Industry Vertical, By Value, 2019–2029

Figure 93     Argentina Sodium Formate Market Size, By Value (USD Million), 2019–2029

Figure 94     Argentina Sodium Formate Market Share, By Application, By Value, 2019–2029

Figure 95     Argentina Sodium Formate Market Share, By Industry Vertical, By Value, 2019–2029

Figure 96     Peru Sodium Formate Market Size, By Value (USD Million), 2019–2029

Figure 97     Peru Sodium Formate Market Share, By Application, By Value, 2019–2029

Figure 98     Peru Sodium Formate Market Share, By Industry Vertical, By Value, 2019–2029

Figure 99     Rest of LATAM Sodium Formate Market Size, By Value (USD Million), 2019–2029

Figure 100   Rest of LATAM Sodium Formate Market Share, By Application, By Value, 2019–2029

Figure 101   Rest of LATAM Sodium Formate Market Share, By Industry Vertical, By Value, 2019–2029

Figure 102   Middle East & Africa Sodium Formate Market Size, By Value (USD Million), 2019–2029

Figure 103   Middle East & Africa Sodium Formate Market Share, By Application, By Value, 2019–2029

Figure 104   Middle East & Africa Sodium Formate Market Share, By Industry Vertical, By Value, 2019–2029

Figure 105   Middle East & Africa Sodium Formate Market Share, By Country, By Value, 2019–2029

Figure 106   Saudi Arabia Sodium Formate Market Size, By Value (USD Million), 2019–2029

Figure 107   Saudi Arabia Sodium Formate Market Share, By Application, By Value, 2019–2029

Figure 108   Saudi Arabia Sodium Formate Market Share, By Industry Vertical, By Value, 2019–2029

Figure 109   UAE Sodium Formate Market Size, By Value (USD Million), 2019–2029

Figure 110   UAE Sodium Formate Market Share, By Application, By Value, 2019–2029

Figure 111   UAE Sodium Formate Market Share, By Industry Vertical, By Value, 2019–2029

Figure 112   Qatar Sodium Formate Market Size, By Value (USD Million), 2019–2029

Figure 113   Qatar Sodium Formate Market Share, By Application, By Value, 2019–2029

Figure 114   Qatar Sodium Formate Market Share, By Industry Vertical, By Value, 2019–2029

Figure 115   Kuwait Sodium Formate Market Size, By Value (USD Million), 2019–2029

Figure 116   Kuwait Sodium Formate Market Share, By Application, By Value, 2019–2029

Figure 117   Kuwait Sodium Formate Market Share, By Industry Vertical, By Value, 2019–2029

Figure 118   South Africa Sodium Formate Market Size, By Value (USD Million), 2019–2029

Figure 119   South Africa Sodium Formate Market Share, By Application, By Value, 2019–2029

Figure 120   South Africa Sodium Formate Market Share, By Industry Vertical, By Value, 2019–2029

Figure 121   Nigeria Sodium Formate Market Size, By Value (USD Million), 2019–2029

Figure 122   Nigeria Sodium Formate Market Share, By Application, By Value, 2019–2029

Figure 123   Nigeria Sodium Formate Market Share, By Industry Vertical, By Value, 2019–2029

Figure 124   Algeria Sodium Formate Market Size, By Value (USD Million), 2019–2029

Figure 125   Algeria Sodium Formate Market Share, By Application, By Value, 2019–2029

Figure 126   Algeria Sodium Formate Market Share, By Industry Vertical, By Value, 2019–2029

Figure 127   Rest of MEA Sodium Formate Market Size, By Value (USD Million), 2019–2029

Figure 128   Rest of MEA Sodium Formate Market Share, By Application, By Value, 2019–2029

Figure 129   Rest of MEA Sodium Formate Market Share, By Industry Vertical, By Value, 2019–2029

 

List of Tables

 

Table 1        Global Sodium Formate Market Size, By Value (USD Million), 2019–2029

Table 2        Global Sodium Formate Market Size, By Application, By Value, 2019–2029

Table 3        Global Sodium Formate Market Size, By Industry Vertical, By Value, 2019–2029

Table 4        Global Sodium Formate Market Size, By Region, By Value, 2019–2029

Table 5        North America Sodium Formate Market Size, By Value (USD Million), 2019–2029

Table 6        North America Sodium Formate Market Size, By Application, By Value, 2019–2029

Table 7        North America Sodium Formate Market Size, By Industry Vertical, By Value, 2019–2029

Table 8        North America Sodium Formate Market Size, By Country, By Value, 2019–2029

Table 9        United States Sodium Formate Market Size, By Value (USD Million), 2019–2029

Table 10      United States Sodium Formate Market Size, By Application, By Value, 2019–2029

Table 11      United States Sodium Formate Market Size, By Industry Vertical, By Value, 2019–2029

Table 12      Canada Sodium Formate Market Size, By Value (USD Million), 2019–2029

Table 13      Canada Sodium Formate Market Size, By Application, By Value, 2019–2029

Table 14      Canada Sodium Formate Market Size, By Industry Vertical, By Value, 2019–2029

Table 15      Europe Sodium Formate Market Size, By Value (USD Million), 2019–2029

Table 16      Europe Sodium Formate Market Size, By Application, By Value, 2019–2029

Table 17      Europe Sodium Formate Market Size, By Industry Vertical, By Value, 2019–2029

Table 18      Europe Sodium Formate Market Size, By Country, By Value, 2019–2029

Table 19      Germany Sodium Formate Market Size, By Value (USD Million), 2019–2029

Table 20      Germany Sodium Formate Market Size, By Application, By Value, 2019–2029

Table 21      Germany Sodium Formate Market Size, By Industry Vertical, By Value, 2019–2029

Table 22      United Kingdom Sodium Formate Market Size, By Value (USD Million), 2019–2029

Table 23      United Kingdom Sodium Formate Market Size, By Application, By Value, 2019–2029

Table 24      United Kingdom Sodium Formate Market Size, By Industry Vertical, By Value, 2019–2029

Table 25      Italy Sodium Formate Market Size, By Value (USD Million), 2019–2029

Table 26      Italy Sodium Formate Market Size, By Application, By Value, 2019–2029

Table 27      Italy Sodium Formate Market Size, By Industry Vertical, By Value, 2019–2029

Table 28      France Sodium Formate Market Size, By Value (USD Million), 2019–2029

Table 29      France Sodium Formate Market Size, By Application, By Value, 2019–2029

Table 30      France Sodium Formate Market Size, By Industry Vertical, By Value, 2019–2029

Table 31      Spain Sodium Formate Market Size, By Value (USD Million), 2019–2029

Table 32      Spain Sodium Formate Market Size, By Application, By Value, 2019–2029

Table 33      Spain Sodium Formate Market Size, By Industry Vertical, By Value, 2019–2029

Table 34      Belgium Sodium Formate Market Size, By Value (USD Million), 2019–2029

Table 35      Belgium Sodium Formate Market Size, By Application, By Value, 2019–2029

Table 36      Belgium Sodium Formate Market Size, By Industry Vertical, By Value, 2019–2029

Table 37      Russia Sodium Formate Market Size, By Value (USD Million), 2019–2029

Table 38      Russia Sodium Formate Market Size, By Application, By Value, 2019–2029

Table 39      Russia Sodium Formate Market Size, By Industry Vertical, By Value, 2019–2029

Table 40      The Netherlands Sodium Formate Market Size, By Value (USD Million), 2019–2029

Table 41      The Netherlands Sodium Formate Market Size, By Application, By Value, 2019–2029

Table 42      The Netherlands Sodium Formate Market Size, By Industry Vertical, By Value, 2019–2029

Table 43      Rest of Europe Sodium Formate Market Size, By Value (USD Million), 2019–2029

Table 44      Rest of Europe Sodium Formate Market Size, By Application, By Value, 2019–2029

Table 45      Rest of Europe Sodium Formate Market Size, By Industry Vertical, By Value, 2019–2029

Table 46      Asia-Pacific Sodium Formate Market Size, By Value (USD Million), 2019–2029

Table 47      Asia-Pacific Sodium Formate Market Size, By Application, By Value, 2019–2029

Table 48      Asia-Pacific Sodium Formate Market Size, By Industry Vertical, By Value, 2019–2029

Table 49      Asia-Pacific Sodium Formate Market Size, By Country, By Value, 2019–2029

Table 50      China Sodium Formate Market Size, By Value (USD Million), 2019–2029

Table 51      China Sodium Formate Market Size, By Application, By Value, 2019–2029

Table 52      China Sodium Formate Market Size, By Industry Vertical, By Value, 2019–2029

Table 53      India Sodium Formate Market Size, By Value (USD Million), 2019–2029

Table 54      India Sodium Formate Market Size, By Application, By Value, 2019–2029

Table 55      India Sodium Formate Market Size, By Industry Vertical, By Value, 2019–2029

Table 56      Japan Sodium Formate Market Size, By Value (USD Million), 2019–2029

Table 57      Japan Sodium Formate Market Size, By Application, By Value, 2019–2029

Table 58      Japan Sodium Formate Market Size, By Industry Vertical, By Value, 2019–2029

Table 59      South Korea Sodium Formate Market Size, By Value (USD Million), 2019–2029

Table 60      South Korea Sodium Formate Market Size, By Application, By Value, 2019–2029

Table 61      South Korea Sodium Formate Market Size, By Industry Vertical, By Value, 2019–2029

Table 62      Australia & New Zealand Sodium Formate Market Size, By Value (USD Million), 2019–2029

Table 63      Australia & New Zealand Sodium Formate Market Size, By Application, By Value, 2019–2029

Table 64      Australia & New Zealand Sodium Formate Market Size, By Industry Vertical, By Value, 2019–2029

Table 65      Indonesia Sodium Formate Market Size, By Value (USD Million), 2019–2029

Table 66      Indonesia Sodium Formate Market Size, By Application, By Value, 2019–2029

Table 67      Indonesia Sodium Formate Market Size, By Industry Vertical, By Value, 2019–2029

Table 68      Malaysia Sodium Formate Market Size, By Value (USD Million), 2019–2029

Table 69      Malaysia Sodium Formate Market Size, By Application, By Value, 2019–2029

Table 70      Malaysia Sodium Formate Market Size, By Industry Vertical, By Value, 2019–2029

Table 71      Singapore Sodium Formate Market Size, By Value (USD Million), 2019–2029

Table 72      Singapore Sodium Formate Market Size, By Application, By Value, 2019–2029

Table 73      Singapore Sodium Formate Market Size, By Industry Vertical, By Value, 2019–2029

Table 74      Vietnam Sodium Formate Market Size, By Value (USD Million), 2019–2029

Table 75      Vietnam Sodium Formate Market Size, By Application, By Value, 2019–2029

Table 76      Vietnam Sodium Formate Market Size, By Industry Vertical, By Value, 2019–2029

Table 77      Rest of APAC Sodium Formate Market Size, By Value (USD Million), 2019–2029

Table 78      Rest of APAC Sodium Formate Market Size, By Application, By Value, 2019–2029

Table 79      Rest of APAC Sodium Formate Market Size, By Industry Vertical, By Value, 2019–2029

Table 80      Latin America Sodium Formate Market Size, By Value (USD Million), 2019–2029

Table 81      Latin America Sodium Formate Market Size, By Application, By Value, 2019–2029

Table 82      Latin America Sodium Formate Market Size, By Industry Vertical, By Value, 2019–2029

Table 83      Latin America Sodium Formate Market Size, By Country, By Value, 2019–2029

Table 84      Brazil Sodium Formate Market Size, By Value (USD Million), 2019–2029

Table 85      Brazil Sodium Formate Market Size, By Application, By Value, 2019–2029

Table 86      Brazil Sodium Formate Market Size, By Industry Vertical, By Value, 2019–2029

Table 87      Mexico Sodium Formate Market Size, By Value (USD Million), 2019–2029

Table 88      Mexico Sodium Formate Market Size, By Application, By Value, 2019–2029

Table 89      Mexico Sodium Formate Market Size, By Industry Vertical, By Value, 2019–2029

Table 90      Argentina Sodium Formate Market Size, By Value (USD Million), 2019–2029

Table 91      Argentina Sodium Formate Market Size, By Application, By Value, 2019–2029

Table 92      Argentina Sodium Formate Market Size, By Industry Vertical, By Value, 2019–2029

Table 93      Peru Sodium Formate Market Size, By Value (USD Million), 2019–2029

Table 94      Peru Sodium Formate Market Size, By Application, By Value, 2019–2029

Table 95      Peru Sodium Formate Market Size, By Industry Vertical, By Value, 2019–2029

Table 96      Rest of LATAM Sodium Formate Market Size, By Value (USD Million), 2019–2029

Table 97      Rest of LATAM Sodium Formate Market Size, By Application, By Value, 2019–2029

Table 98      Rest of LATAM Sodium Formate Market Size, By Industry Vertical, By Value, 2019–2029

Table 99      Middle East & Africa Sodium Formate Market Size, By Value (USD Million), 2019–2029

Table 100    Middle East & Africa Sodium Formate Market Size, By Application, By Value, 2019–2029

Table 101    Middle East & Africa Sodium Formate Market Size, By Industry Vertical, By Value, 2019–2029

Table 102    Middle East & Africa Sodium Formate Market Size, By Country, By Value, 2019–2029

Table 103    Saudi Arabia Sodium Formate Market Size, By Value (USD Million), 2019–2029

Table 104    Saudi Arabia Sodium Formate Market Size, By Application, By Value, 2019–2029

Table 105    Saudi Arabia Sodium Formate Market Size, By Industry Vertical, By Value, 2019–2029

Table 106    UAE Sodium Formate Market Size, By Value (USD Million), 2019–2029

Table 107    UAE Sodium Formate Market Size, By Application, By Value, 2019–2029

Table 108    UAE Sodium Formate Market Size, By Industry Vertical, By Value, 2019–2029

Table 109    Qatar Sodium Formate Market Size, By Value (USD Million), 2019–2029

Table 110    Qatar Sodium Formate Market Size, By Application, By Value, 2019–2029

Table 111    Qatar Sodium Formate Market Size, By Industry Vertical, By Value, 2019–2029

Table 112    Kuwait Sodium Formate Market Size, By Value (USD Million), 2019–2029

Table 113    Kuwait Sodium Formate Market Size, By Application, By Value, 2019–2029

Table 114    Kuwait Sodium Formate Market Size, By Industry Vertical, By Value, 2019–2029

Table 115    South Africa Sodium Formate Market Size, By Value (USD Million), 2019–2029

Table 116    South Africa Sodium Formate Market Size, By Application, By Value, 2019–2029

Table 117    South Africa Sodium Formate Market Size, By Industry Vertical, By Value, 2019–2029

Table 118    Nigeria Sodium Formate Market Size, By Value (USD Million), 2019–2029

Table 119    Nigeria Sodium Formate Market Size, By Application, By Value, 2019–2029

Table 120    Nigeria Sodium Formate Market Size, By Industry Vertical, By Value, 2019–2029

Table 121    Algeria Sodium Formate Market Size, By Value (USD Million), 2019–2029

Table 122    Algeria Sodium Formate Market Size, By Application, By Value, 2019–2029

Table 123    Algeria Sodium Formate Market Size, By Industry Vertical, By Value, 2019–2029

Table 124    Rest of MEA Sodium Formate Market Size, By Value (USD Million), 2019–2029

Table 125    Rest of MEA Sodium Formate Market Size, By Application, By Value, 2019–2029

Table 126    Rest of MEA Sodium Formate Market Size, By Industry Vertical, By Value, 2019–2029

Table 127    Perstorp Company Overview

Table 128    Perstorp Financial Overview

Table 129    BASF SE Company Overview

Table 130    BASF SE Financial Overview

Table 131    MKS Marmara Tüm Haklari Saklidir Company Overview

Table 132    MKS Marmara Tüm Haklari Saklidir Financial Overview

Table 133    Alder SpA Company Overview

Table 134    Alder SpA Financial Overview

Table 135    Metafrax Chemicals Company Overview

Table 136    Metafrax Chemicals Financial Overview

Table 137    Asian Paints Company Overview

Table 138    Asian Paints Financial Overview

Table 139    Kanoria Chemicals & Industries Ltd. Company Overview

Table 140    Kanoria Chemicals & Industries Ltd. Financial Overview

Table 141    Zibo Ruibao Chemical Co. Ltd Company Overview

Table 142    Zibo Ruibao Chemical Co. Ltd Financial Overview

Table 143    SOLVAY Company Overview

Table 144    SOLVAY Financial Overview

Table 145    Honeywell International Inc. Company Overview

Table 146    Honeywell International Inc. Financial Overview

Table 147    TCI Chemicals (India) Pvt. Ltd. Company Overview

Table 148    TCI Chemicals (India) Pvt. Ltd. Financial Overview

Table 149    Avantor, Inc. Company Overview

Table 150    Avantor, Inc. Financial Overview

Table 151    Vertellus Company Overview

Table 152    Vertellus Financial Overview

Table 153    Acros Organics Company Overview

Table 154    Acros Organics Financial Overview

Market Segmentation

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Frequently Asked Questions (FAQs):

Ans: The food and beverages segment is expected to hold the highest market share in the Global Sodium Formate Market by industry vertical.
Ans: Global Sodium Formate Market size was estimated at USD 464.98 million in 2022.
Ans: Major factors driving the growth of Global Sodium Formate Market include increasing regulations associated with organic acids and high requirement across aerospace industry.
Ans: The catalysts segment is expected to hold the highest market share in the Global Sodium Formate Market by application.
Ans: Key players in Global Sodium Formate Market include Perstorp, BASF SE, MKS Marmara Tüm Haklari Saklidir, Alder SpA, Metafrax Chemicals, Asian Paints, Kanoria Chemicals & Industries Ltd., Zibo Ruibao Chemical Co., Ltd, SOLVAY, Honeywell International Inc., TCI Chemicals (India) Pvt Ltd, Avantor, Inc., Vertellus, and Acros Organics. 
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