Research Nester published a report titled “Potassium Formate Market: Global Demand Analysis & Opportunity Outlook 2027”that delivers detailed overview of the global potassium formate market in terms of market segmentation by form, by application and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.The revenue generated by the global potassium formate market crossed USD 300 Million in 2018. The market is estimated to witness notable growth on the back of growing demand for Potassium formate in oil and gas industry which can be attributed to its useful and environment friendly properties.
The market is segmented by form into solid and liquid. The market is further segmented by application into de-icing agent, oil field, heat transfer fluid and others. Increasing applications of potassium formate in the oil and gas industry and rising demand for natural gas and crude oil is expected to propel the growth of the market.
Moreover, studies have shown that potassium formate is a potential de-icing agent on roads and airports. De-icing is an enormous task in winters and potassium formate is widely used in reducing the freezing point of water thus, making it a good de-icing agent. The global potassium formate market is anticipated to witness significant growth by recording a CAGR of around 2% over the forecast period i.e. 2019-2027.
Geographically, the global potassium market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region, out of which, the market in Asia Pacific region is anticipated to witness significant growth on account of increase in the oil and gas drilling projects in the region.
Profitability in the Procurement of Raw Material
The increasing demand for preservatives and feed additives is raising the demand for formic acid. Improvements in the living standards with along with its environmental acceptability are some of the notable factors that are leading to an upsurge in the demand for formic acid. Moreover, potassium formate applications in drilling fluids is expected to contribute to the growth of the market. Furthermore, continuous preference of consumers for customized service and maintenance coupled with increasing demand for superior industrial deicers in order to clear large scale snow from runways over conventional methods that used bulldozers for such processes has created vast opportunities in the market, thereby impelling the market growth.
However, seasonal fluctuations and volatility in the raw material prices are expected to operate as a key restraint to the growth of potassium formate market over the forecast period.This report also provides the existing competitive scenario of some of the key players of the global potassium formate market which includes company profiling of BASF, ADDCON, Perstorp, Cabot, Evonik, Honeywell and ICL. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments.
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 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.
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.Request for the Report Summary: https://www.factmr.com/report/3851/potassium-formate-marketThe 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.
Apart from de-icing and drilling, several potassium formate manufacturers are eying opportunities arising in the heat transfer fluids sector.
This pressure reaches up to the value chain wherein manufacturers of drilling fluids are constantly engaged in R to accommodate consumer demand.
Among the changes that are actively integrated into the drilling process, development of smooth fluids and incorporation of high chemical strength are trending.Request for the Sample of the Report: https://www.factmr.com/connectus/sample?flag=S_id=3851Demand 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.
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.
