Global Potassium Hydroxide Market Report - Future Prospects, Growth, Outlook and Forecast 2019 – 2026
Potassium hydroxide is a strong inorganic alkaline compound with the chemical formula KOH. It is a noncombustible, hydrophilic substance and therefore is highly corrosive to metal and tissue. It readily absorbs moisture from the atmosphere and forms a caustic solution that attacks aluminum and zinc.
The global Potassium Hydroxide market is estimated to be USD 6,204 million in 2019 and is expected to reach USD 7,840 million by 2026, with a CAGR of 3.4% during the forecast period.
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Market Dynamics
Growing demand for potassium carbonate
One of the key factors contributing to the growth of the global potassium hydroxide market is the increasing demand for potassium carbonate. In end-user industries such as the detergents, glass, cosmetics, food, pharmaceuticals, and agriculture sectors, potassium carbonate produced from potassium hydroxide is widely used as a raw material or chemical intermediate to manufacture end-user products.
Increasing applications of potassium hydroxide
One of the major trends propelling the growth of the global potassium hydroxide market is an increasing application of potassium hydroxide. The demand for potassium hydroxide from various end-user industries is rising steadily. It is used as 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.
Strict regulations of government agencies
However, health and environmental hazards associated with the use of potassium hydroxide are likely to restrain the growth of the market. Government bodies and regulatory organizations have imposed strict regulations regarding the consumption of potassium hydroxide and have made it mandatory for industries employing it to adhere to certain standards.
Presence of less expensive substitutes
Manufactures usually prefer sodium hydroxide over potassium hydroxide as it is a cheaper and often lesser quality of sodium hydroxide serves the purpose.
Segmentation
On the basis of type, Potassium Hydroxide Market segmented into
l Solid Potassium Hydroxide
l Liquid Potassium Hydroxide
On the application, Potassium Hydroxide Market segmented into
l Chemical Raw Material Potassium
l Pharmaceutical Industry
l Light Industry
l Dye Industry
l Others
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Competitive Landscape
The potassium hydroxide market is highly concentrated. Important players profiled in the global Potassium Hydroxide market include PotashCorp, JSC Uralkali, JSC Uralkali, Occidental Chemical Corporation, ICL Fertilizers, Haifa Chemicals Ltd., Armand Products, The Mosaic Company, Altair Chimica, Tessenderlo chemie, Olin Chlor Alkali, OxyChem, UNID, Chengdu Huarong Chemical, Tssunfar, and etc. In order to maintain a leading position in the market, these companies are focusing on the production of a wider variety of chemicals using potassium hydride and potassium along with the production of potassium hydroxide.
Regional Spotlights
In the region-wise outlook, the global potassium hydroxide market is categorized into Asia Pacific, Europe, North America, and the Rest of the World. In 2018, the global potassium hydroxide market is led by the Asia Pacific, capturing about 35% of global potassium hydroxide sales volume. North America is the second-largest region-wise market with 33% global Share, followed by Europe (22%). The Asia-Pacific is projected to maintain its dominant position over the next few years. China and India are likely to emerge as the leading markets for potassium hydroxide in the Asia Pacific due to the mounting population in these countries. Emerging economies in the rest of the world segment are expected to offer huge growth opportunities, especially in Latin American countries. Potassium hydroxide demand in Russia and the Eastern European region will also foresee huge demand during the forecast period.
Overall Regions Outlook
l North America (U.S., Canada, Mexico)
l Europe (Germany, France, Italy, Spain, U.K., Nordic Countries, Belgium, Russia, Rest of Europe
l Asia Pacific (China, India, Australia, Japan, South Korea, Australia and New Zealand, Rest of Asia Pacific)
l Latin America, Middle East & Africa (Brazil, Nigeria, Argentina, South Africa, GCC Countries.
l Others
Table of Content
1 Report Overview
1.1 Product Definition and Scope
1.2 PEST (Political, Economic, Social and Technological) Analysis of Potassium Hydroxide Market
…
2 Market Trends and Competitive Landscape
3 Segmentation of Potassium Hydroxide Market by Types
4 Segmentation of Potassium Hydroxide Market by End-Users
5 Market Analysis by Major Regions
6 Product Commodity of Potassium Hydroxide Market in Major Countries
7 North America Potassium Hydroxide Landscape Analysis
8 Europe Potassium Hydroxide Landscape Analysis
9 Asia Pacific Potassium Hydroxide Landscape Analysis
10 Latin America, Middle East & Africa Potassium Hydroxide Landscape Analysis
11 Major Players Profile
11.1 PotashCorp
11.1.1 PotashCorp Company Profile and Recent Development
11.1.2 Market Performance
11.1.3 Product and Service Introduction
11.2 JSC Uralkali
11.3 Occidental Chemical Corporation
11.4 ICL Fertilizers
11.5 Haifa Chemicals Ltd.
11.6 Armand Products
11.7 The Mosaic Company
11.8 Altair Chimica
11.9 Tessenderlo chemie
11.10 Olin Chlor Alkali
11.11 OxyChem
11.12 UNID
11.13 Chengdu Huarong Chemical
11.14 Tssunfar
…
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In-depth Potassium Hydroxide Market Report: Intended Audience
l Potassium Hydroxide manufacturers
l Raw material suppliers of Potassium Hydroxide
l Downstream vendors and end-users
l Traders, distributors, and resellers of Potassium Hydroxide
l Potassium Hydroxide industry associations and research organizations
l Product managers, Potassium Hydroxide industry administrator, C-level executives of the industries
l Market Research and consulting firms
Years considered for the study
l Base Year: 2018
l Estimated Year: 2019
l Forecast Period: 2019 to 2026
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