Potassium formate, a white solid powder, has been used as a biochemical component for the synthesis of liquid. It is a useful chemical compound in the production of potassium metal and the oil and gas sector often in aqueous solution. Key market players are increasingly focused on the development of potassium formate based heat transfer fluid to be employed in a refrigeration system instead of calcium chloride brine solution. This, in turn, steadily gaining momentum in the growth of the potassium formate market in the upcoming years.This growth is primarily driven by Increasing Demand for Safety, Agility, and Efficacy to Develop Potassium Formate as Durable Agent and The Growth in the Demand for Non-hazardous Heat Transfer Fluids.
Globally, a noticeable market trend is evident Growing Uses of Potassium Formate in Tanning
. Major Vendors, such as BASF SE (Germany), ADDCON GmbH (Germany), Evonik Industries AG (Germany), Cabot Corporation (United States), Hawkins Inc. (United States), Dynalene Inc. (United States), Perstorp Holding AB (Sweden), Hangzhou Focus Chemical (China), Shouguang Hengtong Chemical Co. Ltd. (China), OXEA GmbH (Germany) and Shuntong Group (China) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
- Increasing Demand for Safety, Agility, and Efficacy to Develop Potassium Formate as Durable Agent
- The Growth in the Demand for Non-hazardous Heat Transfer Fluids
- Growing Uses of Potassium Formate in Tanning
- Increasing Demand for Environment-Friendly Products
- Widespread Availability of Alternatives
- Consumption Volume of Potassium Formate Remains Highly Influenced by Seasonal Fluctuations, Especially in Winter Season
Profitability in Procuring Raw Material Presents Big Gains for Potassium Formate Manufacturers and Growing Drilling Activities Globally
Fluctuations in Raw Material Prices and The Stringency of Environmental Scrutiny over the Potassium Formate and Formic Acid Industries
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