Global Potassium Carbonate Market, By Products (Food Grade, Industrial Grade), Type (Electrolysis Method, Ion Exchange Method, Ash Method, Others), Application (Inorganic Chemicals, Pharmaceutical, Potassium Salts, Glass/TVs/Ceramic, Agrochemicals, Dyes and Inks, Rubber Chemicals, Light Industry Raw Materials, Medicine, Food, Others), – Industry Trends and Forecast to 2029
Potassium Carbonate Market Analysis and Size
Potassium carbonate is the main constituent of potash and the more refined salts of tartar or pearl ash. Generally, pearl ash was formed by baking potash which was used to remove impurities. The remaining fine, white powder was the pearl ash. The first patent delivered by the US Patent Office and Samuel Hopkins was awarded in 1790 for an improved method of making pearl ash and potash. Potassium carbonate is widely used as a flux in the production of glass because it upsurges the resistance, transparency, and refractive coefficient of glass and provide excellent clarity. Growing demand for glass products such as in windows which is mainly used in automotive, building and construction are expected to create profitable growth opportunities for the potassium carbonate market.
Data Bridge Market Research analyses that the potassium carbonate market was valued at USD 1.90 billion in 2021 and is expected to reach USD 2.64 billion by 2029, registering a CAGR of 4.22 % during the forecast period of 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, patent analysis and technological advancements.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Products (Food Grade, Industrial Grade), Type (Electrolysis Method, Ion Exchange Method, Ash Method, Others), Application (Inorganic Chemicals, Pharmaceutical, Potassium Salts, Glass/TVs/Ceramic, Agrochemicals, Dyes and Inks, Rubber Chemicals, Light Industry Raw Materials, Medicine, Food, Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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AGC Chemicals Americas (US), Zhejiang Dayang Biotech Group Co., Ltd (China), Wentong Potassium Salt Group Co.,Ltd. (Shanghai), Evonik (Germany), Vynova Group (Belgium), AGC Inc. (Japan), Pikalevskaya Soda (Russia), Altair Chimica S.p.A (Italy)., Esseco USA LLC (US), Ercros (Spain), Gujarat Alkalies and Chemical Limited (India), Baoding Run Feng (China), Oil Base India (India), Guljag (India), Occidental Petroleum Corporation (US), MADHAV CHEMICALS (India), Church & Dwight Co., Inc. (US), Merck KGaA (Germany), TCI Chemicals (India) Pvt. Ltd (India), Spectrum Chemical (US), Shree Sai Shraddha Industries (India)
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Market Opportunities
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Potassium Carbonate Market Definition
Potassium carbonate is an inorganic compound and the formula is K2CO3. Potassium carbonate (K2CO3) is a white salt which is soluble in water and insoluble in ethanol and forms a strongly alkaline solution. Potassium carbonate can be made as the resultant of potassium hydroxide absorbent reaction with carbon dioxide. It has large capacity to absorb moisture. Potassium carbonate is mostly used in the manufacture of glass and soap.
Potassium Carbonate Market Dynamics
Drivers
- Rise the demand of powder carbonate
Growing the usage of powder potassium carbonate in the production of personal care products, food and beverage and detergents due to its uniform concentration and easy solubility increase the sales which are expected to propelling the growth of the potassium carbonate market.
- Use in the production of glass
Potassium carbonate is used in the glass industry. Flat glass and fiber glass are some of the highly exclusive products in the glass industry used in many industries such as in chemical and consumer goods, automotive and construction industries. Growing sales of potassium carbonate in the glass industry can be attributed to increase the demand for glass from the construction sector.
- Increase the usage in agriculture
Potassium carbonate are mostly used in the field of agriculture. It is used for better growth of plants and also helps to absorb the water from the environment, it keeps the soil moist and soft. Farmers use potash to strengthen the stems and roots of the plants.
Opportunities
The huge application scope of potassium carbonate for food grade in the food industry and the large demand from glass industry is expected to positively impact the growth of the potassium carbonate market. These factors are also acting as an important determinant which will favour the growth of the potassium carbonate market during forecast period. Also, increase the demand from well-developed pharmaceutical industries and the increase in government support are also anticipated the growth of the potassium carbonate market. The major factor projected to accelerate the market's growth is the high demand for the potassium carbonate from numerous industries and the strong presence of huge market players. These all factors will act as market drivers and further increase valuable opportunities for the market's growth rate.
Restraints/ Challenges
Unnecessary amounts of potassium, specifically in legs, can be the reason of weakness. Irregular heartbeat, severe abdominal pain, confusion, fatigue, and bowel movements are some side effects associated with the excessive use of potassium carbonate which reduce the sale of potassium carbonate and will hinder the potassium carbonate market growth rate. Also, the huge amounts of potassium carbonate intake can lead to vomiting, ulcerations and death from shock which are anticipated to challenge the growth of the potassium carbonate market during forecast period.
This potassium carbonate market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the potassium carbonate market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Potassium Carbonate Market
During the Covid-19 outbreak, the government has imposed the lockdown restrictions which decrease the Sales of potassium carbonate in the market. The coronavirus has negatively affected the construction and automotive projects due to which in stagnated demand for potassium carbonate. Restrictions and Lockdowns in the movement have resulted in the standstill of trade activities, significantly disrupting the supply chain of potassium carbonate in the market. Thus, the fluctuation in the supply chain decreases the demand from the end user industries, which has impacted the growth of the global potassium carbonate market.
Recent Development
- In July 2021, In Europe, Vynova, which is a leading Chlor-alkali and PVC manufacturer had announced that it is going to set a manufacturing unit in Belgium to rise its production capacity.
Global Potassium Carbonate Market Scope
The potassium carbonate market is segmented on the basis of products, types and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Products
- Food Grade
- Industrial Grade
Type
- Electrolysis Method
- Ion Exchange Method
- Ash Method
- Others
Application
- Inorganic Chemicals
- Pharmaceutical
- Potassium Salts
- Glass/TVs/Ceramic
- Agrochemicals
- Dyes and Inks
- Rubber Chemicals
- Light Industry Raw Materials
- Medicine
- Food
- Others
Potassium Carbonate Market Regional Analysis/Insights
The potassium carbonate market is analysed and market size insights and trends are provided by country, products, types and application as referenced above.
The countries covered in the potassium carbonate market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific dominates the potassium carbonate market in terms of market share during the forecast period. This is due to the increasing demand for potassium carbonate in this region. The Asia-Pacific region leads the potassium carbonate market because of the increase in the usage for food grade potassium carbonate in food industry in this region.
During the estimated period, North America is anticipated to be the fastest developing region due to the high demand for potassium carbonate from several industries and the strong presence of huge market players.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Potassium Carbonate Market Share Analysis
The potassium carbonate market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to potassium carbonate market.
Some of the major players operating in the potassium carbonate market are:
- AGC Chemicals Americas (US)
- Zhejiang Dayang Biotech Group Co., Ltd (China)
- Wentong Potassium Salt Group Co.,Ltd. (Shanghai)
- Evonik (Germany)
- Vynova Group (Belgium)
- AGC Inc. (Japan)
- Pikalevskaya Soda (Russia)
- Altair Chimica S.p.A (Italy)
- Esseco USA LLC (US)
- Ercros (Spain)
- Gujarat Alkalies and Chemical Limited (India)
- Baoding Run Feng (China)
- Oil Base India (India)
- Guljag (India)
- Occidental Petroleum Corporation (US)
- MADHAV CHEMICALS (India)
- Church & Dwight Co., Inc. (US)
- Merck KGaA (Germany)
- TCI Chemicals (India) Pvt. Ltd (India)
- Spectrum Chemical (US)
- Shree Sai Shraddha Industries (India)
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