Global Potassium Hydroxide Market 2018-2022 | Growing Demand for Potassium Carbonate to Drive Demand | Technavio
LONDON--(BUSINESS WIRE)--Jan 3, 2019-- analysts forecast the global potassium hydroxide market to grow at a CAGR of nearly 5% during the forecast period, according to their latest market research report.
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Technavio analysts forecast the global potassium hydroxide market to grow at a CAGR of nearly 5% by 2022. (Graphic: Business Wire)
The increasing applications of potassium hydroxide are one of the major trends being witnessed in the . The demand for potassium hydroxide from various end-user industries is rising steadily. Potassium hydroxide is used in industrial and institutional cleaners. At the molecular level, potassium hydroxide is smaller than sodium hydroxide, this allows them to enter oil molecules more rapidly than sodium hydroxide and break the oil’s hold on the surface faster so that they can be rinsed away easily using hot water or steam.
According to Technavio analysts, one of the key factors contributing to the growth of the global potassium hydroxide market is the growing demand for potassium carbonate:
Global potassium hydroxide market: Growing demand for potassium carbonate
In end-user industries such as detergents, glass, cosmetics, food, pharmaceuticals, and agriculture, potassium carbonate, produced from potassium hydroxide, is widely used as a raw material or chemical intermediate to manufacture end-use products. The major factor driving the global potassium carbonate market is the high demand from the glass industry. Potassium carbonate is used to manufacture optical and specialty glass for cathode ray tubes used in televisions, computer monitors, and other electronic devices. Moreover, the development of cost-effective manufacturing methods for liquid laundry detergents using potassium carbonate is creating a high potential for revenue generation among major laundry detergent manufacturers in the global market.
According to a senior analyst at Technavio for research on specialty chemicals, “The increasing demand for liquid laundry detergents can be attributed to the rising preference for automatic washing machines, which is further driving the market demand for potassium carbonate. The leading global manufacturers of potassium carbonate cater to industries such as industrial and institutional cleaning, specialty glass, food and pharmaceuticals, and cosmetics. Potassium carbonate is a good source of potassium ions in fertilizers, pharmaceuticals, and catalysts. It also enhances the fluxing properties in glass and metal applications.”
Global potassium hydroxide market: Segmentation analysis
The global potassium hydroxide market research report provides market segmentation by the application (potassium carbonate, chemical intermediates, other potassium salts, and pharma and household). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The potassium carbonate segment held the largest market share in 2017, accounting for 26% of the market. This application segment is expected to dominate the global market throughout the forecast period.
APAC led the market in 2017 with a market share of 48%. This region is expected to dominate the market through 2022, with over 1% increase in its market share.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
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SOURCE: Technavio Research
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