The sodium methylate market is projected to grow at a rate of 2.3% in terms of value, from 2019 to reach USD 208.5 Million by 2026. Sodium methylate, also popularly known as sodium methoxide with the chemical formula of CH3ONa, may be produced as a result of an exothermic reaction between elemental sodium and methanol. Commercially, sodium methylate can be obtained either in solid or liquid (solution) form. Usually, sodium methylate is sold as a 25% to 30% solution in methanol for use in several applications, like the production of vitamin A1, B1, sulfadiazine, trimethoprim, and analytical agents among others. It is also extensively used as a catalyst in the production of bio-diesel.
An increase in demand for sodium methylate as a base, nucleophile, catalyst, reagent to carry out numerous chemical reactions in organic chemistry is anticipated to stimulate market growth. Further, a growth in the implementation of this chemical in the pharmaceutical industry in the production of vitamins, Sulfadoxine, Sulfadiazine, and Trimethoprim, is driving the market demand. Widespread application in grease, and synthetic detergents synthesis, and edible oil processing is projected to drive the market growth in the upcoming years. Also, the rise in global demand for biodiesel supported by favorable government initiatives in many countries is forecasted to push the market growth in the forecast period.
Region and country wise statistics of sodium methylate from the period 2016-2026. While 2016 & 2017 has been utilized as historical data, 2018 is considered the base year. 2019-2026 have been derived as forecasts.
Various types of sodium methylate have been analyzed. Statistical analysis has been conducted on obtaining the individual share of these segments.
Regional prevalence of sodium methylate has been mapped.
Sodium methylate market is expected to grow at a CAGR of 2.3% in terms of value and reach USD 208.5 Million in 2026.
Sodium Methylate solution is an ideal base catalyst in the production of biodiesel. This catalyst increases the yield of biodiesel and decreases the formation of gum during the conversion process.
The anhydrous powder is extensively used as a transesterification catalyst in producing Margarine and Shortenings. Addition of small amounts of sodium methylate powder to the dry oil with a low free fatty acids proportion catalyzes the reaction to produce margarine. The use of this catalyst yields products with improved consistency and reduced melting points with ideal baking characteristics.
The occurrence of mercury in sodium methylate solution during its production contaminates the product and influences the catalytic activity of sodium methylate. Therefore, alternative methods with other raw materials are being developed to avoid mercury presence which in turn assist in the increased market demand in the future.
The high cost of materials used in the production of sodium methylate might create hindrances to the growth of the market.
Evonik Industries AG, Brenntag NV, Desatec, American Elements, TGV Group, MSSA, BASF SE, Supra Group of Companies, FRP Services & Company, and DuPont among others.
The valuation for sodium methylate market was USD 173.6 Million in 2018, and it is expected to reach USD 208.5 Million by 2026.
Powdered sodium methylate is expected to dominate the market with a growth rate of 2.4% during the forecast period. The market dominance of the powdered form is owing to its increasing applications in pharmaceuticals, perfumes, dyes, and organic intermediates. It is extensively used as a catalyst in the production of biodiesel. Sodium methylate in solution form is a versatile intermediate and finds application in a variety of organic syntheses.
The market in Asia-Pacific region dominated the market in 2018 and is anticipated to register a growth rate of 2.4% in the forecast period. The increasing demand for chemicals in industries like automotive, building & construction, and paints & coatings, is expected to propel the growth of the market in this region.
At present Japan has a market share of approximately 3% and is forecasted to grow at a stagnant growth rate in the forecast period.
The number of players involved in the production of the sodium methylate is strategically emphasizing on expanding their production facilities in China due to the presence of cheap labor charges, the presence of advanced manufacturing technology, and cost-effective solutions.
In April 2019, BASF, a key player in the market, made an announcement to increase the production capacity for its Sodium Methylate plant in Guaratinguetá, Brazil. The capacity will increase by 30%, from present 60,000 metric tons to 80,000 metric tons. The new capacity will come on stream in 2020. Sodium methylate supports higher yields and low preparation cost for biodiesel.