Sodium Formate Market - Global Size, Share, Trend Analysis, Opportunity and Forecast Report, 2019–2029, Segmented By Application (Food Additives, Catalysts, Reducing Agents, De-icing Agents, Chemical Intermediates); By Industry Vertical (Aviation, Food &

Sodium Formate Market - Global Size, Share, Trend Analysis, Opportunity and Forecast Report, 2019–2029, Segmented By Application (Food Additives, Catalysts, Reducing Agents, De-icing Agents, Chemical Intermediates); By Industry Vertical (Aviation, Food & Beverages, Textile, Printing, Oil & Gas, Chemical); By Region (North America, Europe, Asia Pacific, Latin America, Middle East and Africa)

Global Sodium Formate Market Size Expands at Steady CAGR of 6.4% to Cross USD 713 Million by 2029

Global sodium formate market is flourishing because of an increasing requirement of the product from the aerospace industry and stringent regulations associated with organic acids.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated global sodium formate market size at USD 464.98 million in 2022. During the forecast period between 2023 and 2029, BlueWeave expects global sodium formate market size to grow at a significant CAGR of 6.4% reaching a value of USD 713.56 million by 2029. Major growth factors of global sodium formate market include an increasing demand for deicing agents in colder regions, growth in the construction industry, and rising demand in the oil and gas industry. Other industries, such as textile dyeing, aviation, and leather, also contribute to the demand for sodium formate. In the aviation industry, sodium formate is commonly used to de-ice runways due to its ability to resist displacement or being blown away by regular aircraft or traffic movement. Granular sodium formate is often applied as a deicing agent at airports to soften compacted snow on runways caused by heavy snowfall, allowing for mechanical ice removal. These factors are expected to drive the growth of the global sodium formate market during the forecast period. However, fluctuating raw material costs are anticipated to restrain the growth of global sodium formate market during the period of analysis.

Global Sodium Formate Market – Overview

Sodium formate is an organic salt of sodium that plays a vital role as a buffer and astringent due to its formate content. It appears as a deliquescent substance that can be in the form of white crystals or powder. Sodium formate is typically produced through a chemical reaction where solid sodium hydroxide absorbs carbon monoxide under pressure at 130°C and 6-8 bar pressure to form granules of sodium formate. The demand for sodium formate in the market is high, and due to its low cost, chemical manufacturers produce it on a large scale using various chemical processes and compounds. The market for sodium formate is expected to grow significantly in the coming years due to its increasing use in various industries.

Impact of COVID-19 on Global Sodium Formate Market

COVID-19 caused significant disruptions to businesses and economic activities worldwide, resulting in a short-term impact on the global sodium formate market. Due to the widespread lockdowns and temporary closures of various industries announced by several countries, production and manufacturing have been severely affected. This has caused a shortage of funds for small and medium-sized enterprises (SMEs), reducing their solvency and negatively impacting production and sales. Some enterprises are facing operational difficulties and may even go bankrupt. The epidemic has also had a significant impact on logistics and transportation, making it difficult to transport raw materials. The industrial chain of SMEs is weak and susceptible to disruption. Furthermore, trade barriers have led to a further decline in demand and supply. Companies in the sodium formate market suspended non-essential visits and activities until the COVID-19 pandemic was resolved.

Global Sodium Formate Market – By Application

By application, global sodium formate market is divided into Food Additives, Catalysts, Reducing Agents, De-icing Agents, and Chemical Intermediates segments. The catalyst segment held the highest market share in the global sodium formate market in 2022. Following the catalyst segments, the food additives segment held the second-largest market share in 2022. Sodium formate plays a crucial role in preserving food additives by preventing degradation caused by unfavorable chemical reactions or microbial growth. The demand for processed food products is being driven by the increasing number of working women and changing consumer lifestyles, which in turn is boosting the food additive market and the demand for sodium formate.

Competitive Landscape

Major players operating in global sodium formate market include Perstorp, BASF SE, MKS Marmara Tüm Haklari Saklidir, Alder SpA, Metafrax Chemicals, Asian Paints, Kanoria Chemicals & Industries Ltd., Zibo Ruibao Chemical Co. Ltd., SOLVAY, Honeywell International Inc., TCI Chemicals (India) Pvt. Ltd., Avantor, Inc., Vertellus, and Acros Organics. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Global Sodium Formate Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Global Sodium Formate Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.


1. Research Framework
1.1. Research Objective
1.2. Product Overview
1.3. Market Segmentation
2. Executive Summary
3. Global Sodium Formate Market Insights
3.1. Industry Value Chain Analysis
3.2. DROC Analysis
3.2.1. Growth Drivers
3.2.1.1. Increased Regulations Associated with Organic Acids
3.2.1.2. High Requirement Across Aerospace Industry
3.2.2. Restraints
3.2.2.1. Fluctuating Raw Material Costs
3.2.3. Opportunities
3.2.3.1. Discovery of New Oil and Gas Reserves
3.2.4. Challenges
3.2.4.1. Availability of Alternatives
3.3. Technology Advancements/Recent Developments
3.4. Regulatory Framework
3.5. Porter’s Five Forces Analysis
3.5.1. Bargaining Power of Suppliers
3.5.2. Bargaining Power of Buyers
3.5.3. Threat of New Entrants
3.5.4. Threat of Substitutes
3.5.5. Intensity of Rivalry
4. Global Sodium Formate Market Overview
4.1. Market Size & Forecast, 2019–2029
4.1.1. By Value (USD Million)
4.2. Market Share & Forecast
4.2.1. By Application
4.2.1.1. Food Additives
4.2.1.2. Catalysts
4.2.1.3. Reducing Agents
4.2.1.4. De-icing Agents
4.2.1.5. Chemical Intermediates
4.2.1.6. Others
4.2.2. By Industry Vertical
4.2.2.1. Aviation
4.2.2.2. Food & Beverages
4.2.2.3. Textile
4.2.2.4. Printing
4.2.2.5. Oil & Gas
4.2.2.6. Chemicals
4.2.3. By Region
4.2.3.1. North America
4.2.3.2. Europe
4.2.3.3. Asia Pacific (APAC)
4.2.3.4. Latin America (LATAM)
4.2.3.5. Middle East and Africa (MEA)
5. North America Sodium Formate Market
5.1. Market Size & Forecast, 2019–2029
5.1.1. By Value (USD Million)
5.2. Market Share & Forecast
5.2.1. By Application
5.2.2. By Industry Vertical
5.2.3. By Country
5.2.3.1. United States
5.2.3.1.1. By Application
5.2.3.1.2. By Industry Vertical
5.2.3.2. Canada
5.2.3.2.1. By Application
5.2.3.2.2. By Industry Vertical
6. Europe Sodium Formate Market
6.1. Market Size & Forecast, 2019–2029
6.1.1. By Value (USD Million)
6.2. Market Share & Forecast
6.2.1. By Application
6.2.2. By Industry Vertical
6.2.3. By Country
6.2.3.1. Germany
6.2.3.1.1. By Application
6.2.3.1.2. By Industry Vertical
6.2.3.2. United Kingdom
6.2.3.2.1. By Application
6.2.3.2.2. By Industry Vertical
6.2.3.3. Italy
6.2.3.3.1. By Application
6.2.3.3.2. By Industry Vertical
6.2.3.4. France
6.2.3.4.1. By Application
6.2.3.4.2. By Industry Vertical
6.2.3.5. Spain
6.2.3.5.1. By Application
6.2.3.5.2. By Industry Vertical
6.2.3.6. Belgium
6.2.3.6.1. By Application
6.2.3.6.2. By Industry Vertical
6.2.3.7. Russia
6.2.3.7.1. By Application
6.2.3.7.2. By Industry Vertical
6.2.3.7.3.
6.2.3.8. The Netherlands
6.2.3.8.1. By Application
6.2.3.8.2. By Industry Vertical
6.2.3.9. Rest of Europe
6.2.3.9.1. By Application
6.2.3.9.2. By Industry Vertical
7. Asia-Pacific Sodium Formate Market
7.1. Market Size & Forecast, 2019–2029
7.1.1. By Value (USD Million)
7.2. Market Share & Forecast
7.2.1. By Application
7.2.2. By Industry Vertical
7.2.3. By Country
7.2.3.1. China
7.2.3.1.1. By Application
7.2.3.1.2. By Industry Vertical
7.2.3.2. India
7.2.3.2.1. By Application
7.2.3.2.2. By Industry Vertical
7.2.3.3. Japan
7.2.3.3.1. By Application
7.2.3.3.2. By Industry Vertical
7.2.3.4. South Korea
7.2.3.4.1. By Application
7.2.3.4.2. By Industry Vertical
7.2.3.5. Australia & New Zealand
7.2.3.5.1. By Application
7.2.3.5.2. By Industry Vertical
7.2.3.6. Indonesia
7.2.3.6.1. By Application
7.2.3.6.2. By Industry Vertical
7.2.3.7. Malaysia
7.2.3.7.1. By Application
7.2.3.7.2. By Industry Vertical
7.2.3.8. Singapore
7.2.3.8.1. By Application
7.2.3.8.2. By Industry Vertical
7.2.3.9. Vietnam
7.2.3.9.1. By Application
7.2.3.9.2. By Industry Vertical
7.2.3.10. Rest of APAC
7.2.3.10.1. By Application
7.2.3.10.2. By Industry Vertical
8. Latin America Sodium Formate Market
8.1. Market Size & Forecast, 2019–2029
8.1.1. By Value (USD Million)
8.2. Market Share & Forecast
8.2.1. By Application
8.2.2. By Industry Vertical
8.2.3. By Country
8.2.3.1. Brazil
8.2.3.1.1. By Application
8.2.3.1.2. By Industry Vertical
8.2.3.2. Mexico
8.2.3.2.1. By Application
8.2.3.2.2. By Industry Vertical
8.2.3.3. Argentina
8.2.3.3.1. By Application
8.2.3.3.2. By Industry Vertical
8.2.3.4. Peru
8.2.3.4.1. By Application
8.2.3.4.2. By Industry Vertical
8.2.3.5. Rest of LATAM
8.2.3.5.1. By Application
8.2.3.5.2. By Industry Vertical
9. Middle East & Africa Sodium Formate Market
9.1. Market Size & Forecast, 2019–2029
9.1.1. By Value (USD Million)
9.2. Market Share & Forecast
9.2.1. By Application
9.2.2. By Industry Vertical
9.2.3. By Country
9.2.3.1. Saudi Arabia
9.2.3.1.1. By Application
9.2.3.1.2. By Industry Vertical
9.2.3.2. UAE
9.2.3.2.1. By Application
9.2.3.2.2. By Industry Vertical
9.2.3.3. Qatar
9.2.3.3.1. By Application
9.2.3.3.2. By Industry Vertical
9.2.3.4. Kuwait
9.2.3.4.1. By Application
9.2.3.4.2. By Industry Vertical
9.2.3.5. South Africa
9.2.3.5.1. By Application
9.2.3.5.2. By Industry Vertical
9.2.3.6. Nigeria
9.2.3.6.1. By Application
9.2.3.6.2. By Industry Vertical
9.2.3.7. Algeria
9.2.3.7.1. By Application
9.2.3.7.2. By Industry Vertical
9.2.3.8. Rest of MEA
9.2.3.8.1. By Application
9.2.3.8.2. By Industry Vertical
10. Competitive Landscape
10.1. List of Key Players and Their Offerings
10.2. Global Sodium Formate Company Market Share Analysis, 2022
10.3. Competitive Benchmarking, By Operating Parameters
10.4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
11. Impact of Covid-19 on Global Sodium Formate Market
12. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)
12.1. Perstorp
12.2. BASF SE
12.3. MKS Marmara Tüm Haklari Saklidir
12.4. Alder SpA
12.5. Metafrax Chemicals
12.6. Asian Paints
12.7. Kanoria Chemicals & Industries Ltd.
12.8. Zibo Ruibao Chemical Co. Ltd
12.9. SOLVAY
12.10. Honeywell International Inc.
12.11. TCI Chemicals (India) Pvt. Ltd.
12.12. Avantor, Inc.
12.13. Vertellus
12.14. Acros Organics
12.15. Other Prominent Players
13. Key Strategic Recommendations
14. Research Methodology
14.1. Qualitative Research
14.1.1. Primary & Secondary Research
14.2. Quantitative Research
14.3. Market Breakdown & Data Triangulation
14.3.1. Secondary Research˙
14.3.2. Primary Research
14.4. Breakdown of Primary Research Respondents, By Region
14.5. Assumptions & Limitations

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