- Solid Potassium Formate
- Liquid Potassium Formate
Potassium Formate Market size was valued at USD 680.1 million in 2022. It is expected to reach a value of USD 919.3 million by 2029, growing at a CAGR of 4.5% from 2023 to 2029. The global market provides a detailed overview of the Potassium Formate Market, which can be segmented by type, application, and end-user. By type, the potassium formate market has been segmented into Solid Potassium Formate and Liquid Potassium Formate. The Liquid Potassium Formate segment is likely the largest and fastest growing in terms of types. By application, the potassium formate is segmented into Oil Field, De-icing Agent, Drilling Fluids, Heat Transfer Fluids, Anti-freeze, Agricultural Products, Lubricants and greases, and Others. The Oil Field segment accounted for a significant revenue share in 2021. Based on end-user, the potassium formate market is segmented into Chemical and petrochemical, Oil & Gas, Energy and power, Agriculture, Healthcare, and Others. According to precision business insights, the Chemical and petrochemical segment is predicted to register the fastest growth rate during the forecast period.
Potassium Formate Market Summary
Study Period
2024-2030
Base Year
2023
CAGR
4.5%
Largest Market
North American
Fastest Growing Market
Asia-Pacific
Potassium Formate Market Dynamics
Potassium formate is in high demand due to the increased need for environmentally friendly products. Also, compared to other salts used in de-icing and drilling fluid applications, potassium formate is readily biodegradable and has a low environmental impact.
Europe Got Significant Share
Potassium Formate Market
Latin America
Europe
Asia Pacific
Middle East
North America
Key Features of the Reports
- The report provides granular level information about the market size, regional market share, historic market (2019-2023), and forecast (2024-2030)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments, and start-up details that are actively working in the market
- The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario
Potassium Formate Market Segmentation
By Type
By Application
- Oil Field
- De-icing Agent
- Drilling Fluids
- Heat Transfer Fluids, Anti-freeze
- Agricultural Products
- Lubricants & Greases
- Others
By End User
- Chemical & Petrochemical
- Oil & Gas
- Energy & Power
- Agriculture
- Healthcare
- Others
By Geography
- North America
- Europe
- Asia Pacific
- Latin America
- MEA
Frequently Asked Questions
The potassium formate market size was valued at USD 680.1 million in 2022
The potassium formate market key players are: Tomiyama Pure Chemicals Ltd. Tetra Technologies Inc., ICL Perstorp Gelest Inc Evonik Dynalene Inc. Cabot BASF Addcon GmbH ADDCON
The potassium formate market has been classified into North America, Asia Pacific, Europe, Latin America, Middle East and Africa, and the rest of MEA.
| 1. Executive Summary |
| 2. Global Potassium Formate Market Introduction |
| 2.1.Global Potassium Formate Market - Taxonomy |
| 2.2.Global Potassium Formate Market - Definitions |
| 2.2.1. Type |
| 2.2.2.Application |
| 2.2.3.End Users |
| 2.2.4.Geography |
| 2.2.5.Region |
| 3. Global Potassium Formate Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Product Landscape |
| 3.6. New Product Launches |
| 3.7. Impact of COVID 19 on Market |
| 4. Global Potassium Formate Market Analysis, 2018 - 2022 and Forecast 2023 - 2029 |
| 4.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million) |
| 4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5. Global Potassium Formate Market By Type , 2018 - 2022 and Forecast 2023 - 2029 (Sales Value USD Million) |
| 5.1. Solid Potassium Formate |
| 5.1.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million) |
| 5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Liquid Potassium Formate |
| 5.2.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million) |
| 5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 6. Global Potassium Formate Market By Application, 2018 - 2022 and Forecast 2023 - 2029 (Sales Value USD Million) |
| 6.1. Oil Field |
| 6.1.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million) |
| 6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. De-icing Agent |
| 6.2.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million) |
| 6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 6.3. Drilling Fluids |
| 6.3.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million) |
| 6.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.3.3. Market Opportunity Analysis |
| 6.4. Heat Transfer Fluids, Anti-freeze |
| 6.4.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million) |
| 6.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.4.3. Market Opportunity Analysis |
| 6.5. Agricultural Products |
| 6.5.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million) |
| 6.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.5.3. Market Opportunity Analysis |
| 6.6. Lubricants & Greases |
| 6.6.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million) |
| 6.6.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.6.3. Market Opportunity Analysis |
| 6.7. Others |
| 6.7.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million) |
| 6.7.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.7.3. Market Opportunity Analysis |
| 7. Global Potassium Formate Market By End Users, 2018 - 2022 and Forecast 2023 - 2029 (Sales Value USD Million) |
| 7.1. Chemical & Petrochemical |
| 7.1.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million) |
| 7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. Oil & Gas |
| 7.2.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million) |
| 7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 7.3. Energy & Power |
| 7.3.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million) |
| 7.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.3.3. Market Opportunity Analysis |
| 7.4. Agriculture |
| 7.4.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million) |
| 7.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.4.3. Market Opportunity Analysis |
| 7.5. Healthcare |
| 7.5.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million) |
| 7.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.5.3. Market Opportunity Analysis |
| 7.6. Others |
| 7.6.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million) |
| 7.6.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.6.3. Market Opportunity Analysis |
| 8. Global Potassium Formate Market By Geography, 2018 - 2022 and Forecast 2023 - 2029 (Sales Value USD Million) |
| 8.1. North America |
| 8.1.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million) |
| 8.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.1.3. Market Opportunity Analysis |
| 8.2. Europe |
| 8.2.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million) |
| 8.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.2.3. Market Opportunity Analysis |
| 8.3. Asia Pacific |
| 8.3.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million) |
| 8.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.3.3. Market Opportunity Analysis |
| 8.4. Latin America |
| 8.4.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million) |
| 8.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.4.3. Market Opportunity Analysis |
| 8.5. MEA |
| 8.5.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million) |
| 8.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.5.3. Market Opportunity Analysis |
| 9. Global Potassium Formate Market By Region, 2018 - 2022 and Forecast 2023 - 2029 (Sales Value USD Million) |
| 9.1. North America |
| 9.1.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million) |
| 9.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 9.1.3. Market Opportunity Analysis |
| 9.2. Europe |
| 9.2.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million) |
| 9.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 9.2.3. Market Opportunity Analysis |
| 9.3. Asia Pacific (APAC) |
| 9.3.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million) |
| 9.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 9.3.3. Market Opportunity Analysis |
| 9.4. Middle East and Africa (MEA) |
| 9.4.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million) |
| 9.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 9.4.3. Market Opportunity Analysis |
| 9.5. Latin America |
| 9.5.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million) |
| 9.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 9.5.3. Market Opportunity Analysis |
| 10. North America Potassium Formate Market ,2018 - 2022 and Forecast 2023 - 2029 (Sales Value USD Million) |
| 10.1. Type Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1.Solid Potassium Formate |
| 10.1.2.Liquid Potassium Formate |
| 10.2. Application Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.2.1.Oil Field |
| 10.2.2.De-icing Agent |
| 10.2.3.Drilling Fluids |
| 10.2.4.Heat Transfer Fluids, Anti-freeze |
| 10.2.5.Agricultural Products |
| 10.2.6.Lubricants & Greases |
| 10.2.7.Others |
| 10.3. End Users Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.3.1.Chemical & Petrochemical |
| 10.3.2.Oil & Gas |
| 10.3.3.Energy & Power |
| 10.3.4.Agriculture |
| 10.3.5.Healthcare |
| 10.3.6.Others |
| 10.4. Geography Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.4.1.North America |
| 10.4.2.Europe |
| 10.4.3.Asia Pacific |
| 10.4.4.Latin America |
| 10.4.5.MEA |
| 10.5. Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.5.1.United States of America (USA) |
| 10.5.2.Canada |
| 11. Europe Potassium Formate Market ,2018 - 2022 and Forecast 2023 - 2029 (Sales Value USD Million) |
| 11.1. Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1.Solid Potassium Formate |
| 11.1.2.Liquid Potassium Formate |
| 11.2. Application Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.2.1.Oil Field |
| 11.2.2.De-icing Agent |
| 11.2.3.Drilling Fluids |
| 11.2.4.Heat Transfer Fluids, Anti-freeze |
| 11.2.5.Agricultural Products |
| 11.2.6.Lubricants & Greases |
| 11.2.7.Others |
| 11.3. End Users Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.3.1.Chemical & Petrochemical |
| 11.3.2.Oil & Gas |
| 11.3.3.Energy & Power |
| 11.3.4.Agriculture |
| 11.3.5.Healthcare |
| 11.3.6.Others |
| 11.4. Geography Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.4.1.North America |
| 11.4.2.Europe |
| 11.4.3.Asia Pacific |
| 11.4.4.Latin America |
| 11.4.5.MEA |
| 11.5. Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.5.1.Germany |
| 11.5.2.France |
| 11.5.3.Italy |
| 11.5.4.United Kingdom (UK) |
| 11.5.5.Spain |
| 11.5.6.Rest of EU |
| 12. Asia Pacific (APAC) Potassium Formate Market ,2018 - 2022 and Forecast 2023 - 2029 (Sales Value USD Million) |
| 12.1. Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.1.1.Solid Potassium Formate |
| 12.1.2.Liquid Potassium Formate |
| 12.2. Application Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.2.1.Oil Field |
| 12.2.2.De-icing Agent |
| 12.2.3.Drilling Fluids |
| 12.2.4.Heat Transfer Fluids, Anti-freeze |
| 12.2.5.Agricultural Products |
| 12.2.6.Lubricants & Greases |
| 12.2.7.Others |
| 12.3. End Users Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.3.1.Chemical & Petrochemical |
| 12.3.2.Oil & Gas |
| 12.3.3.Energy & Power |
| 12.3.4.Agriculture |
| 12.3.5.Healthcare |
| 12.3.6.Others |
| 12.4. Geography Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.4.1.North America |
| 12.4.2.Europe |
| 12.4.3.Asia Pacific |
| 12.4.4.Latin America |
| 12.4.5.MEA |
| 12.5. Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.5.1.China |
| 12.5.2.India |
| 12.5.3.Australia and New Zealand (ANZ) |
| 12.5.4.Japan |
| 12.5.5.Rest of APAC |
| 13. Middle East and Africa (MEA) Potassium Formate Market ,2018 - 2022 and Forecast 2023 - 2029 (Sales Value USD Million) |
| 13.1. Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.1.1.Solid Potassium Formate |
| 13.1.2.Liquid Potassium Formate |
| 13.2. Application Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.2.1.Oil Field |
| 13.2.2.De-icing Agent |
| 13.2.3.Drilling Fluids |
| 13.2.4.Heat Transfer Fluids, Anti-freeze |
| 13.2.5.Agricultural Products |
| 13.2.6.Lubricants & Greases |
| 13.2.7.Others |
| 13.3. End Users Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.3.1.Chemical & Petrochemical |
| 13.3.2.Oil & Gas |
| 13.3.3.Energy & Power |
| 13.3.4.Agriculture |
| 13.3.5.Healthcare |
| 13.3.6.Others |
| 13.4. Geography Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.4.1.North America |
| 13.4.2.Europe |
| 13.4.3.Asia Pacific |
| 13.4.4.Latin America |
| 13.4.5.MEA |
| 13.5. Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.5.1.GCC Countries |
| 13.5.2.South Africa |
| 13.5.3.Rest of MEA |
| 14. Latin America Potassium Formate Market ,2018 - 2022 and Forecast 2023 - 2029 (Sales Value USD Million) |
| 14.1. Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 14.1.1.Solid Potassium Formate |
| 14.1.2.Liquid Potassium Formate |
| 14.2. Application Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 14.2.1.Oil Field |
| 14.2.2.De-icing Agent |
| 14.2.3.Drilling Fluids |
| 14.2.4.Heat Transfer Fluids, Anti-freeze |
| 14.2.5.Agricultural Products |
| 14.2.6.Lubricants & Greases |
| 14.2.7.Others |
| 14.3. End Users Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 14.3.1.Chemical & Petrochemical |
| 14.3.2.Oil & Gas |
| 14.3.3.Energy & Power |
| 14.3.4.Agriculture |
| 14.3.5.Healthcare |
| 14.3.6.Others |
| 14.4. Geography Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 14.4.1.North America |
| 14.4.2.Europe |
| 14.4.3.Asia Pacific |
| 14.4.4.Latin America |
| 14.4.5.MEA |
| 14.5. Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 14.5.1.Brazil |
| 14.5.2.Mexico |
| 14.5.3.Rest of LA |
| 15. Competition Landscape |
| 15.1. Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) |
| 15.2.1.Tomiyama Pure Chemicals Ltd. |
| 15.2.2.Tetra Technologies Inc., ICL |
| 15.2.3.Perstorp |
| 15.2.4.Gelest Inc |
| 15.2.5.Evonik |
| 15.2.6.Dynalene Inc. |
| 15.2.7.Cabot |
| 15.2.8.BASF |
| 15.2.9.Addcon GmbH |
| 15.2.10.ADDCON |
| 16. Research Methodology |
| 17. Appendix and Abbreviations |
- Tomiyama Pure Chemicals Ltd.
- Tetra Technologies Inc., ICL
- Perstorp
- Gelest Inc
- Evonik
- Dynalene Inc.
- Cabot
- BASF
- Addcon GmbH
- ADDCON