Sodium Molybdate Market Size is Expected to Boost at a CAGR 6.7 % by 2027 | Merck KGaA, Hydrite Chemical Co.

Reports And Data

Increasing demand for Sodium Molybdate distribution in the online retailing, coupled with high investment in R&D of Sodium Molybdate, are fueling market growth

NEW YORK CITY, NY, UNITED STATES, April 12, 2022 /EINPresswire.com / -- The Global Sodium Molybdate Market is forecast to reach USD 3.67 Billion by 2027, according to a new report by Reports and Data. Sodium Molybdate is a white-colored inorganic sodium salt chemically having molybdate as the opposite ion. This chemical compound usually comes with crystalline solid and powder formation for the end uses. Sodium molybdate dihydrate is first produced and then synthesized to create anhydrous form of the chemical. Based on the end-use, these two types of sodium molybdate is formulated. Dihydrate contains water molecules, whereas the anhydrous form doesn't contain water and offer a more pure form. The global market is growing at a substantial pace due to the growing demand for this inorganic compound in the agricultural industries for its beneficial use in the fertilizers manufacturing as an essential source of vital micronutrients for plant growth

The market in Asia Pacific is expected to retain its superiority in the overall market. Also, the fastest growth rate has been observed in the Asia Pacific region, owing to an extensive use of sodium molybdate in the agricultural industry and metal manufacturing industries as a corrosion inhibiting agent. China and India are some of the fastest-growing markets, while Germany and the United States hold some of the most prominent players in the market.

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Major companies profiled in the global market report include -
Hydrite Chemical Co., Noah Technologies Corporation, Omkar Speciality Chemicals Limited, Chem-Met Co Inc, Aldon Corporation, Merck KGaA, Mil-Spec Industries Corporation, Old Bridge Chemicals, Inc., Mallinckrodt Pharmaceuticals, North Metal Chemical Co., and among others.

Further key findings from the report suggest

Surface treatments of the metals using this chemical compound include anti-corrosion characteristics which increase the longevity of the metal products, and also helps in heightening its productivity in the water surface. Lubricating agents made by sodium molybdate provides excellent durability at a high temperature, restraining the reactions occurring between two metal surfaces and in the rolling bearing in which the lubricating grease is enclosed.
The colorless anhydrous solid crystalline form is widely used in the manufacturing process fertilizers and feed supplements for livestock. The anhydrous solid form possesses no water and suitable for storage and mixed in the chemical processing, after dissolving into water solution as this chemical is highly water-soluble.
Growing penetration of the online retailing businesses for the food items, especially in the emerging nations in Asia Pacific continent, is helping the market grow by broadening the outreach of the sellers in the areas where the scarcity of the offline vendors is observed. Also, due to the non-involvement of distributors in the supply chain model, the profit margin is way more than that of the offline store retailing. The online retailing is expected to grow at the highest CAGR of 6.3% throughout the forecast period.
North America, with its high demand for this chemical in fertilizer manufacturing and feed supplement production for livestock, is accounted to retain a significant position in the global market by 2027, and the CAGR is calculated to be 7.1% during the forecast period.

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Key Coverage of the Report

Region and country wise statistics of the global Sodium Molybdate market from the period 2016-2027. While 2016 & 2017 have been utilized as historical data, 2018 is considered the base year. 2019-2027 have been derived as forecasts.
Estimation of the market size along with historical and forecasted trend analysis.
Various types of alternatives available have been analyzed. Statistical analysis has been conducted on obtaining the individual share of these segments.
The regulatory framework of each region.
Regional up-coming research and application outlook.
Status of on-going developments.
The regional prevalence of Sodium Molybdate has been mapped.
Demand and Supply GAP Analysis
Regional Competitors Pricing Strategy
To be continue……..

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Segments covered in the report:

For the purpose of this report, Reports and Data have segmented global Sodium Molybdate Market on the basis of Type, Material, End Users, Application and region:
Sales Channel Outlook (Revenue, USD Billion; 2016-2027)
Online Retailing
Medical Stores & Brand Outlet

Type Outlook (Revenue, USD Billion; 2016-2027)
Anhydrous
Dihydrate

End-Use Verticals Outlook (Revenue, USD Billion; 2016-2027)
Agricultural Industries
Lubricant & Flame Retardant
Feed Supplement
Pigment & Coating
Metal Finishing Industry
Others

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Regional Outlook

North America (U.S.A., Canada, Mexico)

Europe (Italy, U.K., Germany, France, Rest of EU)

Asia-Pacific (India, China, Japan, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)

Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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