(MENAFN-Comserve), New York, USA, November 10, 2020, 04:38 / Comserve /-The global potash market is divided into five main regions, including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Research Nester published a report entitled “Potassium Salt Market: Global Demand Analysis and Opportunity Outlook in 2027″, which provides a detailed overview of the global potassium formate market by market segment, form, application and region.
In addition, for in-depth analysis, the report covers industry growth momentum, constraints, supply and demand risks, market attractiveness, BPS analysis and Porter’s five forces model.
In 2018, the global potassium formate market generated more than US$300 million in revenue. Due to the increasing demand for potassium formate in the oil and gas industry, this market is expected to grow significantly due to its useful and environmentally friendly properties. The market is divided into solid and liquid by form. The market is further subdivided through applications in the fields of deicing agents, oil fields, and heat transfer fluids. It is expected that the application of potassium formate in the oil and gas industry will continue to increase, as well as the increasing demand for natural gas and crude oil, which will drive market growth.
In addition, studies have shown that potassium formate is a potential deicing agent on roads and airports. In winter, deicing is a difficult task, so potassium formate is widely used to lower the freezing point of water, thus making it a good deicing agent. The global potassium formate market is expected to record a compound annual growth rate of approximately 2% during the forecast period (i.e., 2019-2027), achieving significant growth.
Geographically, the global potash market is divided into five main regions, including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. The market in the Asia Pacific region is expected to grow significantly due to the growth of oil in the region. And natural gas drilling projects.
The growing demand for preservatives and feed additives has also increased the demand for formic acid. The improvement of living standards and its environmental acceptability are some notable factors leading to the surge in demand for formic acid. Moreover, the application of potassium formate in drilling fluids is expected to promote market growth. In addition, consumers’ continued preference for customized services and maintenance, as well as the increasing demand for advanced industrial de-icers, to remove snow from the runway compared to traditional methods of using bulldozers for such processes, has created a huge market in the market. Opportunities to promote market growth. .
However, it is expected that during the forecast period, seasonal fluctuations and fluctuations in raw material prices will become the main factors restraining the growth of the potassium formate market.
The report also provides the current competitive scenarios of some of the major players in the global potassium formate market, including company profiles of BASF, ADDCON, Perstorp, Cabot, Evonik, Honeywell and ICL. The summary contains key information about the company, including business overview, products and services, key financials, and the latest news and developments.
Overall, the report describes in detail the global potassium formate market, which will help industry consultants, equipment manufacturers, existing participants looking for expansion opportunities, participants looking for new opportunities, and other stakeholders based on continuous and expected To adjust the future trend of its market center strategy.
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