The global potassium formate market is expected to reach US$ 725.5 million in 2023, according to Fact.MR, a supplier of market research and competitive information, and to grow gradually at a CAGR of 4.9% during the following ten years.
Formic acid and either potassium hydroxide or potassium carbonate combine in a chemical process to produce potassium formate. The potassium salt of formic acid is called potassium formate. Potassium formate, often known as HCOOK or CHKO2, is a crystalline white powder in its purest form.
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Key Pioneers
Key Market Trends:
Recent Developments:
The global potassium formate market is highly competitive, with several major players competing for market share.
Many leading companies in the market are focusing on various strategies such as product innovation, partnerships, collaborations, and mergers & acquisitions to strengthen their market position and expand their customer base.
The global potassium formate market is driven by several factors, including:
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