About Methyl Formate
Methyl formate, also called methyl methanoate, is the methyl ester of formic acid. The simplest example of an ester, it is a colorless liquid with an ethereal odor, high vapor pressure, and low surface tension. Methyl formate is a formate ester and is widely used in the foundry and plastics industry. It is also used as a precursor for the manufacturing of formic acid, which is further a key raw material for the organic chemical industry and is used in the animal feed, silage preservative, and leather tanning industry.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States and Indian Vendors will contribute the maximum growth to Global Methyl Formate market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
BASF (Germany), Eastman (United States), Triveni Chemicals (India), Tradex Corporation (India), Rao A. Group (India), Mitsubishi Gas Chemical (Japan), Chevron Chemical Company (United States) and Shaanxi Top Pharm (China) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Vizag Chemicals and Pure Chemicals.
Segmentation Overview
AMA Research has segmented the market of Global Methyl Formate market by Type (Methyl Formate 92-97%, Methyl Formate 97% and Others), Application (Pharmaceuticals, Fumigant and Larvicide, Metal Foundries and Others) and Region.
On the basis of geography, the market of Methyl Formate has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Influencing Trend:
Demand for the pharmaceutical product as there is an extensive R&D efforts for the innovation of drugs
Market Growth Drivers:
Rapid population growth and rise of affluent middle-class in the emerging markets of India and China
Challenges:
Favorable prospects for renewable resources
Restraints:
Increasing awareness among consumers for green products
Opportunities:
Tremendious increase in chemical industry
Key Target Audience
Manufacturers, Raw material suppliers, Government associations, Research organisations and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.