The report delivers valued actionable insights in its competitive landscape section that discusses the overall contribution of key players in the global potassium formate market, their relative global position, and business strategies. The market for potassium formate is estimated to grow over the forecast period as the contenders in the potassium formate market are increasing in number, and the intensity of market competition is likely to rise over the next decade. Prominent manufacturers are prioritizing strategic developments, such as material processing, capacity expansion, product innovation, collaborations, and acquisitions, to better their foothold in the global marketplace.
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The resultant consolidation of the competition structure of the market will create room for innovation, thereby accelerating the manufacturers’ move towards exploring untapped industrial application areas. In particular, demand for brine delivery form for potassium formate is increasing steadily in industries and several de-icing operations. The brine solution delivery form in potassium formate market created lucrative opportunities during the forecast period and held ~71% in 2018, according to Fact.MR’s research.
Looking at continued preference for potassium formate over other salts, for application in drilling and de-icing, key market players are prioritizing potassium formate manufacturing capacity expansion. SynaTek Solutions introduced a range of airport de-icing solutions in 2017, with BASF’s potassium formate. Recently, Evonik entered a collaboration for potassium formate manufacturing. Apart from de-icing and drilling, several potassium formate manufacturers are eying opportunities arising in the heat transfer fluids sector. Strategic distribution partnerships and joint ventures will also be among the preferred developmental strategies among leading market players.
End-users of the drilling industry are under constant pressure to reduce operational costs, maintain quality and increase productivity. This pressure reaches up to the value chain wherein manufacturers of drilling fluids are constantly engaged in R&D to accommodate consumer demand. Among the divergent needs, safety, agility, and efficacy of the drilling fluids are the prominent requirements generated from the end-users’ end. Among the changes that are actively integrated into the drilling process, development of smooth fluids and incorporation of high chemical strength are trending.
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Demand for the former feature entails from the end-user sentiment for hazardous outcomes due to snowfall and that of latter from the ongoing applications for deicing on airports. Application-specific developments are also being incorporated. For instance, the development of potassium formate brine solutions for removing snow from aircraft surface, wherein delicate yet flexible handling of a wide range of temperature as compared to its alternatives present in the market.
Formic acid has been witnessing a remarkable growth on account of the growing demand for preservatives and feed additives. Improving living standards internationally has resulted in the increasing consumption of meat, thereby boosting the demand for formic acid in animal feeds and silage preservatives. The high-quality nature of formic acid coupled with the global environmental acceptability is one of the major influencing factors creating an upsurge in demand in the industry. The rise in the production of formic acid is also anticipated to be one of the key influencing elements for the growth of potassium formate with an increased emphasis.
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The global potassium formate market is projected to expand at a CAGR of 5.1% over the forecast period, owing to the various factors, about which Fact.MR offers detailed insights and forecasts in this report.
The global potassium formate market study presents an all in all compilation of the historical, current and future outlook of the market as well as the factors responsible for such a growth.
With SWOT analysis, the business study highlights the strengths, weaknesses, opportunities and threats of each potassium formate market player in a comprehensive way.
Further, the potassium formate market report emphasizes the adoption pattern of the potassium formate across various industries.The potassium formate market report highlights the following players:ADDCON GmbHHangzhou Focus Chemical Co., Ltd.Oxea CorporationPerstorp Specialty Chemicals ABOthersThe potassium formate market report examines the operating pattern of each player – new product launches, partnerships, and acquisitions – has been examined in detail.Market breakdown by delivery form and by application reveals that Europe, coupled with North America, currently accounts for a sizeable revenue share in the global potassium formate market.
The former however holds a fourth of the global market value, according to Fact.MR’s findings.
The market attractiveness of East Asia-South Asia-Oceania cluster has been estimated to grow at a healthy rate over the period of next few years, assessing the increasing applicability of potassium formate in drilling and heat transfer fluids.North America is projected to hold promising growth potential for potassium formate market.
The latest trending report Global Potassium Formate Market 2019 by Manufacturers, Regions, Type and Application, Forecast to 2025 offered by DecisionDatabases.com is an informative study covering the market with detailed analysis.
The report will assist reader with better understanding and decision making.The global Potassium Formate market size is expected to gain market growth in the forecast period of 2020 to 2025, with a CAGR of 1.6% in the forecast period of 2020 to 2025 and will expected to reach USD 435.8 million by 2025, from USD 408.6 million in 2019.The Potassium Formate market report provides a detailed analysis of global market size, regional and country-level market size, segmentation market growth, market share, competitive Landscape, sales analysis, impact of domestic and global market players, value chain optimization, trade regulations, recent developments, opportunities analysis, strategic market growth analysis, product launches, area marketplace expanding, and technological innovations.Browse the complete report and table of contents @ https://www.decisiondatabases.com/ip/28048-potassium-formate-market-analysis-reportMarket segmentationPotassium Formate market is split by Type and by Application.
For the period 2015-2025, the growth among segments provide accurate calculations and forecasts for sales by Type and by Application in terms of volume and value.
This analysis can help you expand your business by targeting qualified niche markets.By Type, Potassium Formate market has been segmented into Solid Potassium Formate, Liquid Potassium Formate, etc.By Application, Potassium Formate has been segmented into Oil Field, Deicing Agent, Others, etc.Regions and Countries Level AnalysisRegional analysis is another highly comprehensive part of the research and analysis study of the global Potassium Formate market presented in the report.
For the historical and forecast period 2015 to 2025, it provides detailed and accurate country-wise volume analysis and region-wise market size analysis of the global Potassium Formate market.The report offers in-depth assessment of the growth and other aspects of the Potassium Formate market in important countries (regions), including United States, Canada, Mexico, Germany, France, United Kingdom, Russia, Italy, China, Japan, Korea, India, Southeast Asia, Australia, Brazil and Saudi Arabia, etc.
It also throws light on the progress of key regional Potassium Formate markets such as North America, Europe, Asia-Pacific, South America and Middle East & Africa.Competitive Landscape and Potassium Formate Market Share AnalysisPotassium Formate competitive landscape provides details by vendors, including company overview, company total revenue (financials), market potential, global presence, Potassium Formate sales and revenue generated, market share, price, production sites and facilities, SWOT analysis, product launch.
