Sodium Methoxide Market - Forecast(2023 - 2028)

Overview

Sodium Methoxide Market size is forecast to reach $233.47 Million by 2025, after growing at a CAGR of 2.30% during 2020-2025. Sodium methoxide is a chemical compound prepared by treating methanol with sodium. The solid hydrolyzes in water to give methanol and sodium hydroxide. Due to the increasing demand from various applications, especially from pharmaceuticals and agro-based industries, the sodium methoxide market is expected to grow during the forecast period. Sodium methoxide is commercially produced from sodium chloride and methanol in an electrolytic process under inert gas. Sodium methoxide usage as a catalyst in the bio-diesel industry is further driving the sodium methoxide market during the forecast period.

Report Coverage

The report: “Sodium Methoxide Market – Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the Sodium Methoxide Industry.

Key Takeaways

• Widespread application in grease, and synthetic detergents synthesis and edible oil processing is projected to drive the market growth in the upcoming years.
• Sodium methylate supports higher yields and low preparation cost for Biodiesel.
• The presence of mercury in sodium methoxide solution during its production leads to contamination of the product and has an effect on the catalytic activity of sodium methoxide. Thus, the development of alternative methods with other raw materials in order to avoid mercury presence will help the growth of the global sodium methoxide market.

By Product Type - Segment Analysis

Solution segment held a significant share in the sodium methoxide market in 2019. Sodium Methoxide solution which is known as sodium methylate belongs to the sodium alkylates family. Sodium methylate is a versatile intermediate used in a variety of organic syntheses. It is sold as a 25% to 30% solution in methanol for various application. Sodium Methoxide can also be applied as edible catalyst and analytical reagent.

By Application - Segment Analysis

Pharmaceuticals segment held a significant share in the sodium methoxide market in 2019 growing at a CAGR of 2.35% during the forecast period. Sodium methoxide is applicable to the synthesis of numerous compounds ranging from pharmaceuticals to agrichemicals. It is used in the pharmaceutical industry for the production of various vitamins such as Vitamin A1, Vitamin B1, Sulfadoxine, Sulfadiazine, and Trimethoprim. As a base, sodium methoxide is employed in dehydro halogenations and various condensations and as a nucleophile it is employed for the production of methyl ethers.

Geography - Segment Analysis

Asia-Pacific dominated the sodium methoxide market with a share of more than 38% during the forecast period.  Adoption of sodium methoxide in bio-energy industries in developed as well as developing economies like China and India is likely to drive the market for sodium metoxide. Manufacturers are adopting the advanced technologies for the production of the sodium methoxide to attract the several end-use industries to gain high market share and high profitability margin in the global market.

Drivers – Sodium Methoxide Market

·         Steady growth in biodiesel production

Sodium methylate market is expected to be driven by anticipated steady growth in production of biodiesel where it finds application as a catalyst. Growing demand for biodiesel, coupled with government initiatives in various countries over its blending has in turn resulted in an increase in biodiesel production capacity. This increase in biodiesel production capacity has led to an increase in the demand for sodium methylate.

Challenges – Sodium Methoxide Market

·         Fluctuating Raw Material Price of Sodium Methoxide

Sodium metal and methanol are the raw materials majorly used in the production of sodium methoxide. The slow downward trend of these raw materials in recent years will maintain in the future, as competition intensifies, prices gap between different brands will go narrowing. Similarly, there will be fluctuation in gross margin.

Market Landscape

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the insulated wall panels market. In 2019, the market of sodium methoxide has been consolidated by the top five players accounting for xx% of the share. Major players in the sodium methoxide market are 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., and Inner Mongolia Lantai Industrial Co. Ltd, among others.

Expansions

• In April 2019, BASF will increase the production capacity for its Sodium Methoxide plant in Brazil. The capacity will increase by 30%, from currently 60,000 metric tons to 80,000 metric tons. The new capacity will come on stream in 2020.
• In December 2018, Evonik Corporation has done a significant capacity expansion of its sodium methoxide facility located in Mobile, Ala. Upon completion, the Mobile plant will be capable of producing up to 90,000 metric tons per year.