marketreports

  Potassium formate market size is forecast   to reach $779.5 million by 2026, after growing at a CAGR of 2.8% during 2021-2026.   Potassium formate (HCO2K), is the potassium salt of formic acid. In high-pressure high temperature (HPHT) oil wells, potassium formate brines are extensively utilized in drilling, as these are environmentally friendly and enhance polymer stability. There is a continued preference for potassium formate over other salts, for application in oilfield, de-icing,   heat transfer fluid , and hydrate inhibition which is anticipated to support the potassium formate industry growth.   De-icers at airports and local customers are increasingly transitioning to cost-effective goods that are less harmful to the environment.   This is projected to substantially drive the potassium formate industry. Furthermore, the rapid growth of the   oil & gas   industry has increased the demand for oilfield fluids; thereby, fueling the overal...