In the foundry and plastics industries, methyl formate, commonly referred to as methyl methanoate, is a formate ester that is frequently utilised. Additionally, it serves as a precursor in the production of formic acid, a crucial raw material for the production of organic chemicals that are utilised in the production of animal feed, silage preservatives, and leather tanning.
The chemical industry has recently experienced great expansion, and it is anticipated that this growth will continue steadily in the near future. Socioeconomic dynamics, such as quick population growth and the expansion of the affluent middle class in emerging nations like China and India, are predicted to be the main drivers of the market’s long-term growth.
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Market Titans
- BASF SE
- Eastman Chemical Company
- Sigma-Aldrich (Merck Group)
- Tradex Corporation
Mitubishi Gas Chemicals - Chevron Chemical Company
- The Good Scents Company
- Isotopes Inc.
- GFS Chemicals
- Shaanxi Top Pharm
Key findings of the methyl formate study:
- Innovative manufacturing processes implemented by methyl formate vendors in detail.
- Region-wise and country-wise fragmentation of the methyl formate to grasp the revenue, and growth outlook in these areas.
- Changing preferences among consumers across various regions and countries.
- Factors (Positive and Negative) impacting the growth of the global methyl formate.
- Regional breakdown of the methyl formate based on predefined taxonomy.
Workflow Optimization
On the basis of product type
- Methyl Format 92-97%
- Methyl Format 97%
- Others
On the basis of end-use
- Pharmaceutical
- Metal Foundries
- Pesticides
- Others
Regional Outlook
East and South Asia dominate the global methyl formate market. The rapidly increasing urbanization and significantly increasing pharmaceutical industry escalate the methyl formate market in the region. Developing economies, such as those in East Asia & South Asia, in particular, are expected to witness relatively faster growth as compared to that in developed regions. Increasing demand from the electronics industry, coupled with increasing demand in applications, such as those in agrochemicals among other sectors, are expected to drive the growth of methyl formate market. North America is expected to be the largest share in the methyl formate market.
Queries addressed in the methyl formate report:
- Why are the methyl formate players targeting region for increased product sales?
- What patented technologies are the players utilizing in the global methyl formate?
- Which regions are displaying the fastest growth in the methyl formate?
- What are the underlying micro-macroeconomic factors affecting the global methyl formate?
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