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 purer 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.
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Market Scenario:
The materials and chemicals sector has significantly grown over the recent years and is expected to register robust revenue CAGR over the forecast period. The materials and chemicals sector comprises daily wear products such as detergents, perfumes, soaps, and other raw materials and chemicals used in the manufacturing of other products. There has been a significant increase in the demand for raw materials and chemicals across various industrial sectors such as healthcare and pharmaceuticals, automotive, agriculture, manufacturing, paint, and food and beverages among others. Factors such as increasing awareness about green energy and excess carbon emission, changing consumer preference, growing adoption of biodegradable, sustainable and eco-friendly products, and rapidly expanding industries and building and construction sector are expected to boost global market revenue growth going ahead.
Major Companies:
- 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.
Competitive Landscape:
The report further sheds light on the competitive landscape and provides in depth information about each market player including its global position, product portfolio, financial standing, revenue growth and company overview. The market players are focused on adopting various inorganic and organic growth strategies such as mergers and acquisitions, joint ventures, collaborations, product launches and partnerships to gain a robust footing in the market.
Key questions addressed in the report:
- What is the expected market size of the global Sodium Molybdate market during the forecast period?
- What CAGR is the global market expected to register during the forecast period?
- Which key factors are expected to boost global market growth between 2021 and 2028?
- What are the key restraints that are expected to hamper global market growth?
- Which regional market is expected to register robust CAGR during the forecast period?
- Which key players are operating the global Sodium Molybdate market?
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Sodium Molybdate Market Segmentation:
Type Outlook:
- Anhydrous
- Dihydrate
End-Use Verticals Outlook:
- Agricultural Industries
- Lubricant Flame Retardant
- Feed Supplement
- Pigment Coating
Regional Outlook:
- North America
- S.
- Canada
- Mexico
- Europe
- Germany
- K.
- Italy
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East Africa
- Saudi Arabia
- A.E.
- South Africa
- Rest of MEA
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