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Global Sodium Methoxide Market to Grow at a CAGR of 3.5% During 2021-2026, Aided by the Growing Utilisation of Sodium Methoxide in Various Applications

According to a new report by EMR titled, ‘Global Sodium Methoxide Market Report and Forecast 2021-2026’, the global market for sodium methoxide reached a value of USD 2.5 billion in 2020. The industry is further expected to grow at a CAGR of 3.5% between 2021 and 2026.

The sodium methoxide industry is being driven by the growing product demand from the major end use sectors. North America is one of the significant regions for sodium methoxide and is significantly contributing to the overall industry growth. This can be attributed to the increasing demand for sodium methoxide in the United States for large-scale biodiesel production. Further, the United States biodiesel market is expected to witness a healthy growth in the forecast period owing to the favourable government initiatives. In addition to the growth of the renewable fuels market, the life sciences industry is also driving the demand for high quality sodium methoxide, thus, providing a further impetus to the global market for sodium methoxide.

The growing investments by the key industry players to enhance their production capacity is expected to further drive the market growth over the forecast period. In April 2020, BASF (OTCMKTS: BASFY) announced its expansion of the production capacity for its sodium methoxide plant in Brazil, which is expected to reach 80,000 metric tons by 2021 from 60,000 metric tons, marking a growth of 30%. The capacity expansion will allow the company to meet the increasing customer demand for sodium methoxide in the region. In December 2018, Evonik Industries AG (ETR: EVK), another leading player in the industry, decided to expand its sodium methoxide capacity at its Mobile, Alabama facility to achieve a production volume of up to 90,000 metric tons per year. Such developments are expected to significantly aid the global market for sodium methoxide in the coming years.

Market Breakup by Form, Application, and Regions:

  • By form, the industry can be bifurcated into solid and liquid sodium methoxide. 
  • Based on application, the industry is divided into pharmaceuticals, agrochemicals, plastic and polymers, personal care, analytical reagent, and biodiesel, among others. 
  • Region-wise, the global market for sodium methoxide can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global market for sodium methoxide is being driven by the rising product demand in various end use industries, particularly pharmaceuticals and agrochemicals.
  • The market is receiving a further impetus with the growing per capita expenditure on the personal care products.
  • The rapid technological advancements and growing R&D activities are further propelling the market growth.
  • The growing consumption of biodiesel owing to the rising environmental concern and favourable government initiatives is also boosting the product demand.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for sodium methoxide for the periods (2016-2020) and (2021-2026). 
  • The report also offers historical (2016-2020) and forecast (2021-2026) market information for the forms, applications, and major regions of sodium methoxide.
  • The report also gives the regional historical (2016-2020) and forecast (2021-2026) price trends of the product.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global sodium methoxide market are BASF SE, Evonik Industries AG, Anhui Jinbang Medicine Chemical Co., Ltd, Allegro Specialty Chemicals Pvt Ltd, Inner Mongolia Lantai Industrial Co. Ltd, and Kimia Pars Co., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players. 

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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

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