The latest report titled “Sodium Formate Production” by Procurement Resource, a global procurement research and consulting firm, provides an in-depth cost analysis of the production process of Sodium Formate.
Procurement Resource study is based on the latest prices and other economic data available. It also offers additional analysis of the report with detailed breakdown of all cost components (capital investment details, production cost details, economics for another plant location, dynamic cost model). In addition, the report incorporates the production process with detailed process and material flow, capital investment, operating costs along with financial expenses and depreciation charges.
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Procurement Resource’s detailed report describes the stepwise consumption of material and utilities along with a detailed process flow diagram. Furthermore, the study assesses the latest developments within the industry that might influence Sodium Formate production cost, looking into capacity expansions, plant turnarounds, mergers, acquisitions, and investments.
Procurement Resource Assessment of Sodium Formate Production Process:
- From Chemical Reaction between Carbon Monoxide and Sodium Hydroxide: This report presents the detailed production methodology and cost analysis of Sodium Formate industrial production across Sodium Formate manufacturing plants. The process initiates with the chemical reaction between sodium hydroxide (caustic soda) and carbon monoxide under elevated temperature conditions. The temperature is held at approximately 150-170 °C under a pressure of around 2 MPa, leading to the production of sodium formate as the end product.
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Product Definition:
Sodium formate is a sodium salt derived from formic acid. Its chemical formula is NaHCOO. This white, crystalline substance is commonly used in various industrial applications. Sodium formate is a versatile compound, finding use as a de-icing agent, a buffering agent in the textile and leather industries, and a reducing agent in certain chemical processes. It is also employed in oil and gas drilling operations and serves as a key component in de-inking processes for paper recycling. The compound's ability to readily release formic acid makes it useful in diverse applications, showcasing its importance in both chemical and industrial contexts.
Market Drivers:
The market drivers for sodium formate are influenced by its diverse applications across several industries. Firstly, the de-icing sector propels demand, especially in colder regions where sodium formate is used as an environmentally friendly alternative to traditional de-icing agents. In the textile and leather industries, its role as a buffering agent and catalyst in dyeing processes contributes to market growth. Additionally, its application as a reducing agent in certain chemical reactions, such as the synthesis of other chemicals, stimulates demand. Furthermore, sodium formate's use in the oil and gas industry for shale gas extraction and drilling operations contributes to market expansion. Overall, the compound's versatility and its eco-friendly characteristics make it a valuable component in various industrial processes, driving its demand across different sectors.
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