Potassium Methylate Market to Worth USD 9.65 Billion by 2030 | With a 7.6% CAGR

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Companies covered in the Potassium Methylate Market are BASF SE (Germany), Evonik (Germany), Sintez OKA Group of Companies (Russia), Gelsenchem Chemical Products GmbH (Germany), Shandong Seesuns New Materials Technology Co. Ltd (China), American Elements (U.S.), Vizag Chemical International (India), Jigs Chemical (India), and more players profiled.

Potassium Methylate Market

Potassium Methylate Market
Potassium Methylate Market

Pune, India, Aug. 23, 2023 (GLOBE NEWSWIRE) — The global potassium methylate market size was valued at USD 5.45 billion in 2022 and is projected to grow from USD 5.78 billion in 2023 to USD 9.65 billion by 2030, exhibiting a CAGR of 7.6% during the forecast period.

Potassium methylate/potassium methoxide is a white amorphous powder with no odor at standard temperature and pressure. Potassium methylate is available at a low cost, provides high activity, and has a 1.7 g/cm³ density. It is used as a catalyst to produce biodiesel from animal fats and vegetable oils.

Fortune Business Insights™ mentioned this in a report titled “Potassium Methylate Market Size, Business Analysis, and Report Forcast 2023-2030.”

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List of Key Players Present in the Potassium Methylate Market Report:

  • BASF SE (Germany)
  • Evonik (Germany)
  • Sintez OKA Group of Companies (Russia)
  • Gelsenchem Chemical Products GmbH (Germany)
  • Shandong Seesuns New Materials Technology Co. Ltd (China)
  • American Elements (U.S.)
  • Vizag Chemical International (India)
  • Jigs Chemical (India)

Competitive Landscape-

Acquisitions and Expansions Are Driving the Market Growth

Key market players continuously invest in emerging and developing countries regarding strategic acquisitions, partnerships, expanding production capacity, and new product launches to lead the market. Companies, such as Evonik, Sintez OKA Group of Companies, and BASF SE, continuously invest to strengthen their market position.

COVID-19 Impact-

Transportation Disruption Caused by the Pandemic Affected the Market

The growth of the potassium methylate market witnessed a downfall due to transportation disruptions caused by the COVID-19 pandemic. The lockdown resulted in a supply chain stoppage that led to a decrease in demand. Companies, such as BASF, experienced shutdowns or limited operations globally.

Segments-

Solution Segment to Dominate Due to Strong Demand from Key Industries 

By type, the market is segmented into solution and powder. The solution segment is expected to dominate and hold the largest market share due to the potential use of potassium methylate solution in biodiesel and personal care applications. Powder potassium methylate products are used in pharmaceutical and agriculture applications.

Biodiesel Segment to Lead Due to Increasing Demand for Renewable Sources

Based on application, the market is divided into biodiesel, personal care, agriculture, pharma & healthcare, and others. Energy security, environmental concerns, fuel diversity, peak oil, sustainability, and considerable interest in renewable sources globally drive the biodiesel segment’s dominance

Geographically, the market is studied across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

Browse Detailed Summary of Research Report with TOC:

https://www.fortunebusinessinsights.com/potassium-methylate-market-103405

Report Coverage-

The report offers:

  • Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
  • Comprehensive insights into regional developments.
  • List of major industry players.
  • Key strategies adopted by the market players.
  • The latest industry developments include product launches, partnerships, mergers, and acquisitions.

Drivers & Restraints-

Increasing Fuel Consumption Propelling the Market Growth

The rising fuel consumption globally is strengthening the growth in the market. The consumption of fuel by vehicles is expanding the demand for biodiesel, thereby driving the market during the forecast period. Therefore, the product demand from biodiesel manufacturers is rising during the forecast period.

The rising demand for sodium methylate as a catalyst in products, including synthetic detergents and greases, is affecting the potassium methylate market growth.

Regional Insights-

Growing Awareness among Consumers Regarding Environmental Issues to Drive Market in Europe

Europe is expected to dominate and hold the highest potassium methylate market share during the forecast period. The dominance is attributed to growing awareness of climate change, pollution, and various other environmental problems. The market in Europe stood at USD 2.15 billion in the year 2022. Market growth in Germany is due to an increasing number of innovations and developments in the biodiesel industry.

North America is expected to witness growth with a rise in the agriculture and personal care industries. Growth in the chemical sector in the U.S. is set to drive regional growth. 

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Detailed Table of Content:

  • Introduction
    • Research Scope
    • Market Segmentation
    • Research Methodology
    • Definitions and Assumptions
  • Executive Summary
  • Market Dynamics
    • Market Drivers
    • Market Restraints
    • Market Opportunities
  • Key Insights
    • Key Emerging Trends – For Major Regions
    • Latest Technological AdvanPharma & Healthcare
    • Insights on Regulatory Scenario
    • Porters Five Forces Analysis
  • Qualitative Insights on Impact of COVID-19 on the Global Potassium Methylate Market
    • Supply Chain Analysis & Challenges due to Covid-19
    • Steps taken by Government / Companies to Overcome this Impact
    • Potential Challenges and Opportunities due to COVID-19 Outbreak
  • Global Potassium Methylate Industry Analysis, Insights and Forecast, 2019-2030
    • Key Findings / Summary
    • By Type (Value)
      • Solution
      • Powder
    • By Application (Value)
      • Biodiesel
      • Personal Care
      • Agriculture
      • Pharma & Healthcare
      • Others
    • By Region (Value)
      • North America
      • Europe
      • Asia Pacific
      • Latin America
      • Middle East & Africa

TOC Continued…!

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