The Sodium Molybdate market is projected to grow at a rate of 6.7% in terms of value, from 2019 to reach USD 3.67 Billion by 2027. 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.
The dihydrate form is first produced and then synthesized to create anhydrous form of sodium molybdate. 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 of this chemical.
Top Companies Operating in the Global Sodium Molybdate Market:
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.
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The global sodium molybdate market is growing at a substantial pace due to the growing demand for this chemical in the agricultural industries for its beneficial use in fertilizer manufacturing as an essential source of vital micronutrients for plant growth. Use of this chemical compound in the manufacture of animal feed supplements, lubricating agents, organic inorganic pigments, corrosion inhibiting agents in the metal industry, additive in metal finishing, and flame-retardant coating are some of the other mentionable driving factors for this market. Health hazards pertaining to sodium molybdate inhalation, and fluctuation in the raw material prices are expected to be the major restraining factors for this market.
Asia Pacific is projected to grow at the fastest growth rate of 8.5% throughout the forecast period due to a higher amount of consumption of this chemical in this region. The market in North America is being propelled by the increasing demand for this inorganic chemical compound in the manufacture of fertilizers and feed supplements for the livestock. China and India are some of the most valuable contributors in the Asia Pacific region.
Table of Contents:
- Report Overview
1.1 Research Scope
1.2 Key Sodium Molybdate market segments
1.3 Major players
1.4 Market analysis by product type
1.5 Market analysis by application
1.6 Report timeline - Global Growth Trends
2.1 Global Sodium Molybdate market size
2.2 Latest regional market trends
2.3 Emerging growth trends - Competitive Outlook
3.1 Global Sodium Molybdate market key players
3.2 Global Sodium Molybdate size by manufacturers
3.3 Products of major players
3.4 Entry barriers in the Sodium Molybdate market
3.5 Mergers, acquisitions, joint ventures, and other strategic alliances
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Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
Sodium Molybdate Market Segmentation
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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