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


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. – PowerPoint PPT presentation

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

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
AboutFuture Market Insights
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Research Methodology (1/2)
  • Systematic Research Approach

In-depth secondary research is used to ascertain overall market size, top industry players, top products, industry associations, etc.
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includes sources of databases
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.
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
  • 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

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
B-9834 Press Release Source https//www.globenew
Potassium Formate Market Analysis
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    navigate challenges and take critical decisions
    with confidence and clarity amidst breakneck

Potassium Formate Market Analysis
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