The global Solid Potassium Hydroxide Market is expected to reach USD 2.79 Billion by 2027, according to a new report by Reports and Data. The growth of the market is attributed to growing applications of potassium hydroxide.
A significant portion of potassium hydroxide produced globally is used in the production of potassium carbonate, which is used for many chemical synthesis process. Several organic and inorganic and organic potassium salts are produced from potassium carbonate as well as it is a raw material for condensation agents and drying neutralization. It finds application as a fertilizer for acidic soil as well as the printing and textile industry. Potassium carbonate solutions are utilized as cooling brines and fire retardants, along with its usage as a leavening agent in baked goods, and an additive in drying raisins, among others. Moreover, potassium carbonate is applied in the production of video glass and various other specialty glasses, photographic chemicals, detergents and cleaners, gas purification, dairy industry, rubber additives, polymer catalysts, potassium bicarbonate, textiles, and cement.
Top Companies Operating in the Global Solid Potassium Hydroxide Market:
INEOS, Olin Corporation, Inovyn Chlorvinyls Limited, Occidental Petroleum Corporation, UNID, Haifa Chemicals Ltd., Potash Corp., ICL Fertilizers, The Mosaic Company, and Armand Products.
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Further key findings from the report suggest
· By product type, solid potassium hydroxide held a larger market share in 2018. It finds usage in petroleum, gas purification, industrial soaps, potassium chemicals drugs, pharmaceuticals, alkaline batteries, flavors and fragrances, and dyestuffs, among others.
· By distribution channel, offline distribution channel contributed to a larger market share in 2018 and is likely to grow at a rate of 0.7% in the forecast period. The offline channel dominated the market in 2018. Offline channel is the most preferred channel for distribution as it includes the opportunity for customers to create personal connections with business, which is beneficial in building loyalty.
· By application, the pharmaceutical industry is estimated to grow at a rate of 1.7% in the forecast period.
· The market in the Asia Pacific region contributed to the largest market share in 2018 and is likely to experience a growth rate of 1.8% in the period 2019-2027. Rapid urbanization and industrialization, as well as the growing population in countries such as China and India, are causative of the high demand in the region.
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Solid Potassium Hydroxide Market Segmentation
Product Type Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)
- Liquid Potassium Hydroxide
- Solid Potassium Hydroxide
Distribution Channel Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)
- Online
- Offline
Applications Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)
- Chemical
- Pharmaceutical
- Agriculture
- Others
The report is written with the aid of industry analysts, market segmentation, and data collection in order to assist readers in making profitable business decisions. The report includes a comprehensive database of technical and product advances. It also provides information on growth rates and market value, as well as a thorough examination of niche market segments. The report provides strategic advice to newcomers and existing businesses about how to make profitable and well-informed business decisions.
The Solid Potassium Hydroxide Market has been segmented into key regions of the world and offers an analysis of growth rate, market share, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. A country-wise analysis of the market is offered in the report to gain a better understanding of the regional spread and progress of the Solid Potassium Hydroxide Market.
The global Solid Potassium Hydroxide Market is segmented into:
· North America (U.S.A., Canada, Mexico)
· Europe (Italy, U.K., Germany, France, Rest of Europe)
· Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
· Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
· Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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