Potassium Formate Market - Size, Growth and Trend Till 2027 Potassium formate, also known as potassium salt of formic acid is a white solid powder, which forms brine solution and low crystallization temperature. This is a non-hazardous element, which has a pH score of 8.5 in a 10% solution. It offers various performance benefits over other traditional divalent brine solutions as potassium formate is non-corrosive fluid. Moreover, it reduces its chance of forming precipitates when it is in contact with reservoir water. Furthermore, it is a biodegradable element with extremely low toxicity to marine organisms. It also reduces the formation of carbonates and bicarbonates. Although potassium formate is compatible with hardware tools and elastomers, it shows tiny corrosiveness toward ferrous-based metals. Potassium formate finds applications in the oil and gas industry, and also for de-icing, drilling muds, drilling fluids, completion fluids, and more. Over-reliance on the oil economy is expected to create ample opportunities for market players in the global potassium formate market during the forecast period. Request For Sample Copy of this Research Report : https://www.coherentmarketinsights.com/insight/request-sample/2786 Market Regional Analysis Asia Pacific is expected to hold a significant share in the global potassium formate market during the forecast period. This is owing to increasing oil and gas drilling projects in the region, which is expected to increase the demand for potassium formate. Potassium formate has a strong foothold in oil and gas industry, due to its environmental feasibility and useful properties. Moreover, North America and Latin America are expected to account for major market share, owing to increasing oil and gas drilling activities in the Gulf of Mexico. Market Players Key players operating in the global potassium formate market are Hangzhou Focus Chemical Co., Ltd, Tetra Chemicals Europe in Helsingborg Sweden, Cabot Corporation, Banners Chemical Group, Hengtong Chem, and Addcon For More Information: https://tinyurl.com/y3aaycqr About Coherent Market Insights: Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity. Contact Us: Mr. Shah Coherent Market Insights 1001 4th Ave, #3200 Seattle, WA 98154 Tel: +1-206-701-6702 Email: [email protected]
Global potassium formate market size was valued at US$ 380 million in 2018, and is expected to register a CAGR of 2.1% during the forecast period (2019-2027).
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