Sodium Methylate Market Size was valued at USD 0.3 Billion in 2022. The Sodium Methylate market industry is projected to grow from USD 0.312 Billion in 2023 to USD 0.42699 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.00% during the forecast period (2024 - 2032). Increased adoption and demands from various end-use industries such as pharmaceutical and agricultural sectors are the key market drivers enhancing the market expansion.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Sodium Methylate Market Trends
Growing adoption across end-use industries is driving the market growth
Market CAGR for sodium methylate is being driven by the rising adoption across end-use industries. Elements of sodium and methanol interact exothermically to produce sodium methoxide. It is an odorless, white to pale yellow powder that is combustible but not explosive and decomposes when exposed to high temperatures. Typically, sodium methoxide is marketed as a 25-30% solution in methanol for use in making trimethoprim, sulfadiazine, vitamin A1, B1, and other analytical agents, among other things.
Additionally, it is frequently utilized as a catalyst in the manufacturing of biodiesel. Oxygen and sodium methoxide react violently. To prevent it from breaking down into sodium hydroxide and methanol at high temperatures (over 126C), it is kept away from moisture, water, or air. There has been considerable growth in the sodium methoxide market in recent past years. Due to the spike in demand for its use in numerous applications, particularly in the pharmaceutical and agro-based industries, as well as the organic synthesis of various goods, the market is predicted to experience considerable growth in the anticipated period.
Additionally, a growing need for sodium methylate as a catalyst in products like grease and synthetic detergents is supporting the market's expansion. Furthermore, the market is growing by the consistent increase in biodiesel production for use as a catalyst. The high price of raw materials, however, is anticipated to impede market expansion.
Furthermore, factors driving market revenue growth include the expanding pharmaceutical industry, environmental awareness, rising demand from various applications, particularly in the pharmaceutical and agricultural industries, and sodium methylate's use as a catalyst in products like grease and synthetic detergents. Consumers are becoming more environmentally conscious, and biofuels like biodiesel are being used as a replacement for non-renewable fossil fuels that contribute to warming in the future. Additionally, because sodium methylate is used as a catalyst in the production of biodiesel, increased demand for biodiesel as a cleaner fuel is anticipated to further increase sodium methylate demand. Additionally, manufacturing pharmaceuticals, crop protection chemicals, and food additives using sodium methylate while upholding safety standards also helps to support worldwide demand. The pharmaceutical sector is expanding as a result of increased R&D spending, low-cost manufacturing, a large workforce, and FDA compliance in the United States. However, due to its use as a substantial component in pharmaceutical products, demand for sodium methylate is also rising. Thus, driving the Sodium Methylate market revenue.
The Sodium Methylate market segmentation, based on type includes solid and liquid. Solid category was the fastest growing segment in the market. Water is soluble in the white, needle- or plate-shaped crystal sodium methylate, which is a crystalline solid. It is largely used in the chemical industry to make methylamines and methanol, which are essential for the production of numerous organic compounds, including phenols, acetone, acetic acid, and aniline. By trans-esterifying vegetable oils with different forms of alcohol (methanol), it is also used to make biodiesel.
Figure 1: Sodium Methylate Market, by Type, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The Sodium Methylate market segmentation, based on application, includes Pharmaceuticals, Agrochemicals, Plastics & Polymers, Personal care, Analytical Reagent, Biodiesel, and Others. The pharmaceutical sector had the biggest revenue share. Three of sodium methylate's main applications in the pharmaceutical business are as analytical reagents, edible catalysts, and solvents. Solid sodium methylate is used to create a variety of pharmaceutical drugs, including analgesics, antibiotics, sedatives, and antiarrhythmics. Methanol, a solvent often found in nail polish removers, has the power to dissolve a wide range of other compounds, including lipids. Methoxide can be used to create "caustic potash," which can be coupled with sodium metal or potassium and heated to high temperatures to remove oil-based paint from brushes.
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American Sodium Methylate market area will dominate this market, owing to an increase in the demand for biodiesel product and biodiesel industry.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: SODIUM METHYLATE MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe Sodium Methylate market accounts for the second-largest market share due to growing pharmaceutical industry. Further, the German Sodium Methylate market held the largest market share, and the UK Sodium Methylate market was the fastest growing market in the European region
The Asia-Pacific Sodium Methylate Market is expected to grow at the fastest CAGR from 2023 to 2032. This is due to growing awareness regarding environment leading to inclination towards use of products like biodiesels. Moreover, China’s Sodium Methylate market held the largest market share, and the Indian Sodium Methylate market was the fastest growing market in the Asia-Pacific region.
Leading market players are increasing their investments to be more competitive and expand their product/service offerings, which will help the Sodium Methylate market, grow faster. Market players are also adopting a variety of business strategies to grow their worldwide presence, with various market developments including new product innovations, contractual agreements, partnerships or collaborations, mergers & acquisitions, higher capital investments, and collaboration with other growing organizations. To expand and sustain in a competitive and rising market environment, the Sodium Methylate industry must offer cost-efficient items.
Manufacturing locally to minimize operational costs is one of the key business strategies adopted by producers in the Sodium Methylate industry to benefit clients and increase the market sector. In recent few years, the Sodium Methylate industry has provided some of the most vital benefits to medicine. Major players in the Sodium Methylate market, including Evonik Industries AG, Shandong Daze Chemical Group of China, BASF SE, New Heaven Chemicals INC., Lowa LLC of U.S., Zhengzhou Saihang Chemical Technology Co. Ltd. Of China, Anhui Jinbang Medicine Chemical Co. Ltd of China, Shandong Xisace New Materials Technology Co. Ltd of China, Lian Chemical Development Co. of Iran, Supra Group of Companies of India, Inner Mongolia Lantai Industrial Co. Ltd of China, Shandong Daze Chemical Group of China, American Elements of the United States, and others, are attempting to increase market demand by investing in research and development operations.
BASF SE is a chemical company. Chemicals, plastics, performance products, practical solutions, agricultural solutions, and oil and gas make up the company's six business segments. In addition to providing a variety of system solutions and services, BASF supplies goods for the chemical, automotive, construction, agriculture, oil, plastics, electrical, electronics, furniture, and paper industries. In October 2021, In Guaratinguetá, Brazil, BASF SE announced plans to boost sodium methylate production capacity. In 2020, this extension will be operational and will have increased capacity by 30%, from 60,000 metric tonnes to 80,000 metric tonnes. The market's anticipated revenue growth would be supported by biodiesel's higher yielding capacity and reduced preparation cost.
Specialty chemical firm Evonik Industries AG (Evonik), a division of RAG-Stiftung. Surfactants, polymers, additives, and other things, are part of its product offering. Agriculture, alternative energy, paints & coatings, paper and printing, metal and oil products, electrical and electronics, food and animal feed, personal care and cosmetics, pharmaceuticals, plastics and rubber, automotive, and construction are just a few of the industries where the company's products are used. Additionally, it provides engineering, logistics, utilities, and process technology services. In March 2021, The Mobile, Alabama, facility where Evonik Corporation produces sodium methylate has finished a large capacity expansion. The industrial unit can now produce up to 90,000 metric tonnes annually thanks to the expansion.
January 2016: Early in February, the first sodium methylate manufacturing facility in Iowa begun operations. The Manly Terminal neighborhood's New Heaven Chemicals construction progressed at full speed. The work is expected to be done by February end, according to New Heaven Chemical Inc. director Prasad Devineni.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 0.3 Billion |
| Market Size 2023 | USD 0.312 Billion |
| Market Size 2032 | USD 0.42699 Billion |
| Compound Annual Growth Rate (CAGR) | 4.00% (2024-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Application, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Evonik Industries AG, Shandong Daze Chemical Group of China, BASF SE, New Heaven Chemicals INC., Lowa LLC of U.S., Zhengzhou Saihang Chemical Technology Co. Ltd. Of China, Anhui Jinbang Medicine Chemical Co. Ltd of China |
| Key Market Opportunities | Growing awareness towards environmental protection |
| Key Market Dynamics | Increase in adoption across end-use industries |
Sodium Methylate Market Highlights:
Frequently Asked Questions (FAQ) :
The Sodium Methylate market size was valued at USD 0.3 Billion in 2022.
The Sodium Methylate Market is projected to grow at a CAGR of 4.00% during the forecast period, 2024-2032.
North America had the largest share in the Sodium Methylate Market.
The key players in the market are Evonik Industries AG, Shandong Daze Chemical Group of China, BASF SE, New Heaven Chemicals INC., Lowa LLC of U.S., Zhengzhou Saihang Chemical Technology Co. Ltd. Of China, Anhui Jinbang Medicine Chemical Co. Ltd of China.
The solid category dominated the market in 2022.
The pharmaceuticals had the largest share in the Sodium Methylate Market.
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