Potassium formate market projected to grow to $1.07 billion by 2030 with CAGR of 6.0%

From GlobeNewswire: 2025-05-14 20:30:00

The Potassium Formate Market is projected to grow from USD 0.77 billion in 2024 to USD 1.07 billion by 2030, with a CAGR of 6.0%. The growing demand is driven by various industries like construction, oil & gas, agriculture, food & beverage, and industrial sectors, benefitting from new technological advancements.

Liquid/Brine form potassium formate is expected to see the highest growth in the market, with drilling and completion fluid application also showing significant growth. The construction industry is the second-largest demand sector for potassium formate, due to its non-corrosive and environmentally friendly properties.

In Europe, the potassium formate market is thriving due to strict regulations, environmental concerns, and widespread adoption in sectors like deicing, oil & gas, agriculture, and industrial processes. Potassium formate is increasingly used in deicing solutions at major European airports and in offshore drilling activities in the North Sea.

Countries like Switzerland, Germany, Norway, Finland, and Sweden have widely implemented potassium formate-based deicing solutions, while companies in Europe are investing in product innovation and expanding production capacities. With increasing regulatory support and technological advancements, the European potassium formate market is set for sustained growth in the future.



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