Caustic Potash Market Size, Share, Trend, Growth Prospects, Key Drivers and Opportunity Analysis
Data Bridge Market Research analyses that the caustic potash market will witness a CAGR of 3.90% for the forecast period of 2021-2028. Increase in the demand for caustic potash for a wide range of applications such as potassium carbonate, potassium phosphates, potassium soaps and detergents, liquid fertilizers, agricultural chemicals and others, growth and expansion of textiles industry especially in the developing economies like India and China and surge in industrialization in the developing countries are the major factors attributable to the growth of the caustic potash market.
Rising demands for caustic potash by food and beverages industry as it is employed as a stabilizer, thickening agent and pH adjuster to prolong the shelf life of products is the root cause fuelling up the caustic potash market growth rate. Rising application of caustic potash as cleaning agents in products as shampoos, soaps, detergents and so on is another factor responsible for propelling growth in the caustic potash market value. Rising application of caustic potash by the healthcare industry in the wet mount preparation of clinical specimens for microscopic visualization will further create lucrative growth opportunities for the market. Rising industrialization coupled with increased application of caustic potash agricultural fields in the form of pesticides and insecticides to improve the crop yield and productivity will also directly and positively impact the growth rate of the market.
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Also known as potassium hydroxide, the chemical formula for caustic potash is KOH. Caustic potash is an inorganic alkaline compound which is widely available in different forms including flakes, pellets and powders. Caustic potash is manufactured through the electrolysis of potassium chloride solution. Caustic potash in volatile and generates heat when immersed in water or alcohol. It can be obtained in the pure form by reacting sodium hydroxide with impure potassium. In short, caustic potash is a prototypical strong base that has many industrial applications.
The major players covered in the caustic potash market report are UNID Corp., Occidental Petroleum Corporation, Tessenderlo Group, Olin Corporation, ERCO GmbH, Hainan Huarong Chemical Co., Ltd., Fluechem LTD., Evonik Industries AG, ICL Fertilizers, ASHTA Chemicals, Inc., BHAGWATI CHEMICALS, BASP Chemical Product Ltd., AGC Chemicals Americas, Kuehne Company, Tata Chemicals Ltd., Formosa Plastics Corporation, Westlake Chemical Corporation, Xinjiang Zhongtai Chemical Co., Ltd., Covestro AG and Akzo Nobel N.V. among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Scope of the Caustic Potash Market Report:
The caustic potash market is segmented on the basis of form, grade and end use. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.
- On the basis of form, the caustic potash market is segmented into solid and liquid.
- On the basis of grade, the caustic potash market is segmented into industrial, reagent and pharmaceutical.
- On the basis of end use, the caustic potash market is segmented into potassium carbonate, potassium phosphates, potassium soaps and detergents, liquid fertilizers, agricultural chemicals and others.
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Caustic Potash Market Regional Analysis/Insights
The Caustic Potash market is analyzed and market size insights and trends are provided by country, material type, end user and application as referenced above.
The countries covered in the Caustic Potash 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, Israel, Egypt, South Africa, 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.
North America dominates the market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period of 2022-2029. The market growth over this region is attributed to the high demand for fiber cement Caustic Potash within the region. Asia-Pacific on the other hand, is estimated to show lucrative growth over the forecast period of 2022-2029, due to the prominent presence of fiber cement Caustic Potash market players within the region. Moreover, the high requirement for the residential and commercial building construction also boosts the regional demand.
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