Sodium Methoxide Market: Overview
The market size for sodium methoxide was USD 1.1 billion in 2021, projected to grow at a CAGR of 11.5 percent during the forecast period. 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% methanol solution for making trimethoprim, sulfadiazine, vitamin A1, B1, and other analytical agents, among other things. Additionally, it is frequently utilized as a catalyst in biodiesel manufacturing. Oxygen and sodium methoxide react violently. It is kept away from moisture, water, or air to prevent it from breaking down into sodium hydroxide and methanol at high temperatures (over 126C).
Over the past several years, there has been tremendous growth in the global sodium methoxide market. The market is anticipated to experience significant growth shortly due to the spike in demand for its use in many applications, particularly in the pharmaceutical and agro-based industries and the organic synthesis of diverse goods. In addition, there is an increasing need for sodium methylate as a catalyst in processes, including the processing of edible oils, grease, and synthetic detergents are another factor supporting market expansion. Additionally, the market is anticipated to be pushed by the consistent increase in biodiesel to be produced for use as a catalyst. However, the high price of raw materials is anticipated to impede market expansion.
Due to the increasing urgency with which environmental issues must be addressed, the demand for biodiesel has been increasing dramatically. Due to government initiatives and strong incentives, the amount of biodiesel produced has increased significantly. As a result, the rise in sodium methoxide demand correlates with the rise in biodiesel output. The market for sodium methoxide is expected to rise; however, there are some obstacles to overcome. Methanol and sodium metal, two raw ingredients needed to make sodium methoxide, are subject to ongoing price variations. This factor can prove to be a barrier to the sodium methoxide market. As a result, changes in gross margins eventually cause changes in raw pricing fluctuations, which in turn cause a drop in growth rate.
Sodium Methoxide Market: COVID-19 Impact
Numerous industries and enterprises have suffered enormous losses due to the new coronavirus pandemic. The lethal virus's appearance brought about a total breakdown. Many nations worldwide enacted this lockdown to stop the virus from spreading. As a result, this issue contributed to the closure of industrial facilities and manufacturing plants, which ultimately reduced the demand for sodium methoxide. However, other nations' softer lockout regulations have enabled industrial plants to function and run according to all SOPs. As a result, this feature might aid in reviving the sodium methoxide market's declining growth.
Sodium Methoxide Market: Drivers
Increasing Demand for Various Applications to Drive Market Growth
The global need for catalysts is increasing, which is a major factor driving the growth of the sodium methoxide market, as is the global expansion of important manufacturing firms in emerging economies. Industries looking for sodium methoxide are looking for high-quality, economical, and highly effective products. The importance of sodium methoxide in improving chemical process efficiency has increased spending in R&D to create cutting-edge sodium methoxide solutions. The main focus of manufacturers is the development of high-yield sodium methoxide, which offers greater efficiency and is suitable for high-performance chemical reactions. Using sodium methoxide in chemical reactions for diverse uses has significantly changed the global chemical industry. This significant development in the chemical industry is best supported by important firms' expanding production footprints to meet the demand for sodium methoxide among end-use industries, particularly in the bioenergy, life science, and pharmaceutical industries.
Increasing Demand in Bioenergy Sector Driving Market Growth
The sodium methoxide market's overall sales are impacted as most advances focus on the bio-energy sector. According to Oil World 2017, the European Union presently holds a market share of more than 35% in the global production of biodiesel, and it is anticipated that this trend will continue during the forecasted period. The use of sodium methoxide in the bioenergy sector is predicted to take off in developed and developing nations. Additionally, many Chinese small and large manufacturers are preventing major producers from other nations from introducing high-quality and affordable sodium methoxide to preserve their position in the sodium methoxide market.
Sodium Methoxide Market: Restraints
Uncertainty in Costs of Raw Materials to Hamper Market Growth
The price of sodium methylate goods will soon decrease due to the escalating competition for producing sodium methylate raw materials in the upcoming year. The production unit's profit margin will differ. These are the things that prevent the business sector's expansion. The hard presence of mercury in the sodium solution contaminates the finished product and interferes with sodium methylate's catalytic activity, preventing the market from expanding.
Sodium Methoxide Market: Segment Overview
Solution/Liquid will Dominate Market as it Can Used as an Analytical Reagent and Edible Catalyst
In 2021, the solution category accounted for a sizeable portion of the sodium methoxide market. The family of sodium alkylates includes sodium methylate, often known as sodium methyl oxide solution. A useful intermediate employed in numerous organic syntheses is sodium methylate. It is a 25% to 30% methanol solution for various applications. Additionally, sodium methoxide can be used as an analytical reagent and edible catalyst. According to market trends for sodium methylate, the market is divided into liquid and solid. In the liquid section, it has been noted that the liquid segments are anticipated to project quickly over the market forecast period. Due to the increased liquid consumption in biodiesel manufacturing, the liquid segment has experienced significant development.
With Increased Demand for Catalysts in Pharmaceutical Industry, Pharmaceuticals Category Dominated Market
The pharmaceuticals category held a sizable market share for sodium methoxide in 2021 and is projected to increase at a higher growth rate. The production of several molecules, ranging from pharmaceuticals to agrichemicals, is possible using sodium methoxide. It is employed in the pharmaceutical sector to produce several vitamins, including Vitamin B1, Vitamin A1, Trimethoprim, and Sulfadoxine. Sodium methoxide is used as a base in dehydrohalogenations and other condensations, and it is also used as a nucleophile to produce methyl ethers.
Sodium Methoxide Market: Regional Landscape
Asia Pacific to Dominate Market due to Rapid Industrialization in the Region
In 2021, Asia-Pacific held more than 38% of the global sodium methoxide market. The market for sodium methoxide is projected to be driven by the use of sodium methoxide in bio-energy sectors in both developed and developing nations like China and India. Manufacturers are utilizing cutting-edge technology to produce sodium methoxide to draw in various end-use sectors and increase market share and profitability margins globally. Due to the rapid industrialization and increase in per capita wealth, the market is taking up a significant amount of space in various nations, including China, India, and some regions of Japan. China is considered the main producer in the Asia Pacific region, where the population uses sodium methylate extensively. Expanding this area's pharmaceutical and chemical sectors has increased the demand for sodium methylate. According to market trends for sodium methylate, it has been noted that the market is seeing strong growth at a high CAGR throughout the assessment period. During the market forecast period of 2022–2027, the growth and demand for regional goods will increase at a higher CAGR.
The North American market is recognized as having a sizable transportation industry with a market value. The North American region is expanding. The United States region was described as the largest section, accounting for a significant portion of regional industry, and it is anticipated that it will project and expand quickly during the projected time. Due to the increased use of sodium methylates brought on by the increased use of medications, urbanization has contributed to the market's expansion. The transportation industry's increased use of biodiesel drives growing market demand and size.
Global Sodium Methoxide Market: Competitive Landscape
The renowned German chemical company BASF commenced manufacturing various alcoholates at the Ludwigshafen plant in October 2021. The synthesis of biodiesel using these alcoholates as catalysts is anticipated to start in the second half of 2022. After a fire in August 2021 at its German factory, BASF confirmed force majeure on the production of potassium methylate and crystals as well as sodium methylate, sodium ethylates, and potassium methylates solutions. However, the reconstruction of the areas devastated by the fire has already started. During the repair time, the company will import sodium methylates from its Brazilian production facility in addition to sourcing sodium methylate and other alcoholates from the global industry. A new, multipurpose silica facility was discovered in Geesthacht, region of Germany, in January 2020 by a German company named Evonik. The capacity of BASF's Brazilian factory that produces sodium methoxide will be increased starting in April 2019. From the existing 60,000 metric tonnes to 80,000 metric tonnes, the capacity will rise by 30%. In 2020, the new capacity will start operating. The sodium methoxide facility owned by Evonik Corporation near Mobile, Alabama, underwent a large capacity expansion in December 2018. The Mobile plant will be able to produce up to 90,000 metric tonnes annually once it is finished.
Few of the players in the Sodium Methoxide Market include BASF SE, Evonik Industries, E. I. du Pont de Nemours and Company, Anhui Jinbang Medicine Chemical Co. Ltd., Zibo Xusheng Chemical Co. Ltd., Dezhou Longteng Chemical Co. Ltd., Inner Mongolia Lantai Industrial Co. Ltd., Supra Group of Companies, Desatec, and Senxuan
Regional Classification of the Global Sodium Methoxide Market is Described Below:
Middle East and Africa
*Regions and countries are subject to change based on data availability
Key Elements Included In The Study: Global Sodium Methoxide Market
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