New FMI Report Explores Impact of COVID-19 Outbreak on Potassium formate Market

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Potassium Formate Market Will Grow Over CAGR
around 4.1 Between 2019 to 2029

• April 2020

Report Id REP-GB-9834 Published On
July-2015 Category Chemicals and Materials
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Potassium Formate Market Analysis
Future Market Insights new market research
report opines that global potassium formate
market is likely to witness significant growth
during 2019 to 2029 on back of growing
applications in drilling fluids, de-icing, and
heating fluids. Valued at nearly US 513 Mn in
2018, global revenues are likely to grow at a
CAGR of 4.1, during the forecast period 2019 to
2029. Demand has also been positively influenced
by growing preference for environmentally-sustaina
ble products, especially in drilling fluids,
de-icing, and heating fluids. The report opines
that a combination of macroeconomic and
industry-specific factors will drive potassium
format demand during the course of the forecast
period. South Asia and East Asia Continue to be
Lucrative According to the study, new oil and
gas drilling projects in Asia are fuelling demand
for drilling fluids, which in turn, is creating
sustained opportunities for stakeholders across
the potassium formate value chain. Potassium
formate is gaining traction in oil gas sector,
owing to its favorable properties and
environmental feasibility. South Asia and East
Asia collectively accounted for over 26 of the
global potassium formate market current, and the
authors of the report do not see the status quo
changing anytime soon.
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Potassium Formate Market Analysis

• The broader push by governments in the region,
  and over-reliance on oil economy is likely to
  create sustained opportunities for potassium
  formate market players throughout the forecast
  period.
• Drilling Fluid Likely to Remain a Key Application
• The potassium formate market has been segmented
  on the basis of form, application, and region.
• Brine (liquid) form of potassium formate
  accounted for major share of overall potassium
  formate demand, in 2018. Easy handling and
  storage of brines and its ease of use due to its
  liquid form, can be attributed to its large share
  in the overall potassium formate market
• Drilling fluid application is projected to lead
  the application segment of the potassium formate
  market. Potassium formate is used in drilling
  fluids and is being more popular due to its
  compatibility and favorable properties.
  Traditional salts are being replaced by potassium
  formate in various applications including
  drilling fluid application.
• North America and Europe led the demand for
  potassium formate market in 2018. Presence of
  large oil gas industry and also more snow
  falling countries in these regions, is attributed
  for its larger share. However, the growth is
  expected from Asian countries during the forecast
  period.

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Potassium Formate Market Analysis
Potassium Formate Market Vendor Insights The
report highlights the key market players that are
prominent and have established their position in
the global potassium formate market. The examples
of the key players in this value chain of
potassium formate are BASF, ADDCON, Perstorp,
Cabot, Evonik, Honeywell and ICL among others.
The market players are providing premium customer
services, technical support and an extensive
range of potassium formate products in order to
serve small to large customers across different
industries and further expand their market
presence by adapting new strategies including new
product development and joint venture. The
players are strategically focusing on building
new partnerships and a strong client base. Some
of the leading players are pushing the potassium
formate sale in de-icing application due to its
environmental feasibility and favorable
properties. Request for covid19 Impact Analysis
https//www.futuremarketinsights.com/covid19/REP-G
B-9834 Press Release Source https//www.globenew
swire.com/news-release/2019/06/20/1871840/0/en/Pot
assium-Formate-Market-is-expected-to-Rise-at-4-1-C
AGR-During-2019-to-2029-Future-Market-Insights.htm
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Potassium Formate Market Analysis

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Potassium Formate Market Analysis
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