Sodium Formate Market : Future Expectations, Key Developments and Opportunity As

1. Sodium Formate Market : Future Expectations, Key Developments and Opportunity Assessment 2021-2031 The use of organic acids as food additives gained significant importance after the ban on antibiotic growth promoters (AGPs) in Europe in 2006, which addressed the problem of non-essential use of antibiotics. There is an increasing preference for organic and safe feed additives, globally, which has had a significant impact on the sodium formate market, due to its application as an effective organic feed additive. Various regulations have given rise to the demand for organic acids in the animal nutrition sector, and with the growing awareness about their positive effects on feed quality, and subsequently animal performance, the sales of sodium formate are likely to soar in this sector in the coming years. A recently published rule by The Food and Drug Administration (FDA) (Document citation: 81 FR 67153), amended the regulations for the safe use of sodium formate as a food additive. Further, the European Food Safety Authority (EFSA) also confirmed the safety of the use of sodium formate in the production of animal feed additives. Food additives accounted for almost a third of the global sodium formate market share in 2018, which is likely to remain the same during the forecast period of 2019-2027. The efficacy and safety of sodium formate as an animal feed additive will continue to make it a popular application for sodium formate, positively impacting the growth of the market.

2. Request https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep _id=20315 A Sample- Activity in Textile & Printing Industry Creates Sustained Opportunities The sodium formate industry’s reliance on textile and printing is expected to continue to prevail during the forecast period of 2019–2027. In 2018, the textile and printing industry held almost 40% share of the global sodium formate market revenue, and this share is projected to increase over the forecast period. A steady rise in printing activity and advancements of printing techniques that involve the use of sodium formate are also expected to cause a boost in the growth of the sodium formate market. The expansion of the digital printing market, along with innovation in fabric dyeing and printing processes for effective alkali neutralization and pH control, coupled with the environment-friendly attributes of sodium formate, is expected to contribute to the evolution of the market. Furthermore, sodium formate is being increasingly used in the leather tanning industry, and it is also considered to be very efficient when it comes to chrome penetration into the entire thickness of the hide. The reliability and consistency of acid concentrations, and the purity of sodium formate, are likely to advocate for the use of it in tanning. The flurry of activity in the printing and textile industry can mean a steady demand for sodium formate in the foreseeable future. Purchase https://www.transparencymarketresearch.com/checkout.php?rep_id=20315&lt ype=S A Report- Sodium Formate Market Being Driven by Push for Ecologically-Friendly Deicers The aerospace industry, due to increasing concerns about the environmental impact of deicing chemicals such as urea and acetates, is gradually making a shift to formate- based deicers. As such, the preference for sodium formate-based deicers has been growing steadily, with demand from the aerospace industry accounting for ~20% of the global sodium formate market share. The growing focus on environment conservation has opened up opportunities for manufacturers in the sodium formate industry. For instance: Perstorp Holdings, a leading specialty chemicals innovator, in May 2019, announced the construction of a plant in Sweden to granulate solid sodium formate, increasing the availability of the same for its product PERGRIP RUN NF.

3. However, the hygroscopic nature of sodium formate continues to be a cause for concern for manufacturers within the market. This property of sodium formate translates to other additives having to be added before use and special requirements when it comes to handling and storage. This, coupled with its tendency to cake when stored, is likely to have a restraining effect on the sodium formate market. APAC Continues to Lead the Sodium Formate Market Accounting for a whopping ~43% of the value share, as of 2018, Asia Pacific dominates the sodium formate market, a trend that is unlikely to change during the forecast period. This is likely to be being driven by the expansion of the already strong textile market in the region, and the availability of newer materials and printing processes as well. The sodium formate market in Europe held ~one-fourth of the global market share in 2018. Increasing stringency of environmental laws in Europe, coupled with the push for ecologically-sound solutions in both, the aerospace and additives industry, are likely to drive the demand for sodium formate across a variety of applications, in the region. Major stakeholders in the industry are looking at expanding their geographical presence to include Europe, so as to meet the potential high demand from the region. Analysis of the Competitive Landscape The sodium formate market is very fragmented, with a plethora of small and medium material companies crowding the scene, alongside larger global players. Frontrunners in the industry, such as Perstorp Holdings and ADDCON, account for ~20% of the revenue share of the global sodium formate market. Considering the nature of the product, a number of regional players operate to meet the domestic demand in their respective regions. Key players in the market are focusing on expanding their business in the aerospace industry by penetrating into other regional markets. For instance: Jost Chemical, a global leader in high purity chemicals, in October 2018, announced the construction of a new manufacturing plant in Poland, a facility set to be a part of the company’s integrated global network. This move allows Jost Chemical to expand into the region, positioned to meet the future demand from the region.