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Potassium formate (CHO2K) is the potassium salt of formic acid. With a molar mass of 84.12 g/mol, this highly water-soluble product is used primarily as a brine in drilling, completion, and workover fluids. Potassium formate has also been used as a potential environmentally friendly deicing salt for use on roads and airports.
Potassium formate has already proven to be an efficient and safe de-icer. In Europe it has become the standard solution. As a deicing salt, potassium formate is advantageous in 1) low environmental risk; 2) low heath/safety risk; 3) provides thermal stability; 4) performs at low temperatures and 5) low corrosion.
The global potassium formate production, which measures output worldwide, was expected to reach xx thousand tons in 2016 with a decrease of xx% from its year-earlier level. The global potassium formate market size is estimated to drop from USD xx million in 2011 to USD xx million by 2016, at an estimated CAGR of xx% between 2011 and 2016. The dropping attributes to weak downstream performance, especially the oil & gas sectors.
The global potassium formate market report profiles some of the key technological developments in the recent times. It also profiles some of the leading players in the market and analyzes their key strategies. The competitive landscape section of the report provides a clear insight into the market share analysis of key industry players. The major players in the global potassium formate market are ADDCON, Perstorp Group, OXEA, Esseco, Clariant, Shouguang Hengtong, Eastman, Lancashire Chemical, Shandong Shuntong, NASi, etc.
The global potassium formate industry is relatively concentrated, with the market share of top 10 potassium formate producers at xx%.