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Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand f.....
Potassium Carbonate Market: By Product Type, By Application and Geography
Potassium Carbonate Market: By Product Type, By Application and Geography
Potassium Carbonate Market size was valued at US$ 1.98 billion in 2023, growing at a CAGR of 4.2% from 2024-30. Potassium Carbonate Market is a soluble white powder or granule that is found in nature. When combined with water, it generates a strongly alkaline solution. Potassium Carbonate Market is a potassium hydroxide aqueous solution. It is known to be the most important component of potash and refined pearl ash or tartar. Salt of wormwood, pearl ash, carbonate of potash, salt of tartar, and dipotassium carbonate are some of the other names for potassium carbonate. Potassium carbonate is commercially generated via electrolysis of potassium chloride, which is then carbonated with carbon dioxide to yield potassium carbonate. This potassium carbonate is also employed in the production of other potassium-based chemicals. Potassium chloride is used in the fertilizer business to remove carbon dioxide from ammonia manufacture synthesis gas in its aqueous state. Exothermically, potassium carbonate neutralizes acids, forming salts and water. It reacts with some metals, such as zinc and aluminum, to produce metal oxides, metal hydroxides, and even gaseous hydrogen. It is also thought to start polymerization in polymerizable organic molecules, particularly epoxides. The global potassium carbonate market is surging owing to strategic alliances by key players for potassium carbonate to meet the demands of the customers in the market. This report studies global potassium carbonate market dynamics elaborately to identify the current trends & drivers, future opportunities, and possible challenges to the key stakeholders operating in the market. In addition, the global potassium carbonate market report includes human demographics; regulatory scenario, and competition analysis with a vividly illustrated competition dashboard to assess the market competition.
Study Period
2024-2030Base Year
2023CAGR
4.2%Largest Market
North AmericaFastest Growing Market
Asia-Pacific
Some o the key factors fueling the market growth include increasing demand for potassium carbonate from glass industry, rising financial incentives, growing demand from various end user industries and regulatory supports from the governments. However, health hazards with potassium carbonate are hampering the market growth. Electrolysis Method accounted for larger revenue share in global potassium carbonate market with a significant CAGR and is expected to grow over the forecast years. Potassium carbonate is formed merchandising by electrolysis of potassium chloride, which is more carbonated with the help of carbon dioxide forming the end product potassium carbonate.
Global potassium carbonate market report gives comprehensive outlook on potassium carbonate across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America and Middle East & Africa. North America accounted for larger revenue share in global potassium carbonate market with a significant CAGR and is expected to grow over the forecast years due to presence of huge players and increasing demand for the potassium carbonate from numerous industries. U.S and Canada are the major contributors for the growth of the market in the region. Asia Pacific held substantial market share during predicted period due to enormous applications for food grade potassium carbonate in food industry. The emerged economies are also likely to boost the market due to the potassium carbonate consumption in agriculture and pharmaceutical industries.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2024-2030 |
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Market Size in 2023 |
US$ 1.98 billion |
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Market CAGR |
4.2% |
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By Product Type |
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By Application |
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The potassium carbonate market size was valued at US$ 1.98 million in 2022
The potassium carbonate market key players are: UNID Armand Evonik ASHTA Chemicals Qinghai Salt Lake Industry Co Ltd Zhejiang Dayang Biotech Group Vynova PPC Asahi Glass Pikalevskaya Soda Altair Chimica Esseco Group Ercros GACL Runfeng Industrial Zhenxing Chemical Fertilizer Hebei Xinji Chemical Group
The potassium carbonate market has been classified into North America, Asia Pacific, Europe, Latin America, Middle East and Africa, and the rest of MEA.
Key Market Players
Author
Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand forecasting, and pricing analysis, I am able to make precise projections. I have extensive practical knowledge in Time Series Analysis (TSA), Simple Linear Regression (SLR), Multiple Linear Regression (MLR), Seasonality & Trend Forecasting, and Forecasting Models for New Products, among others. Additionally, I have hands-on experience with tools such as Power BI and SQL. I am highly committed, self-motivated, and possess a strong entrepreneurial spirit. Over the past 8 years, my team and I have built a robust clientele in various sectors, including Packaging, Pharma, Medical Devices, Oil & Gas, and Chemicals & Materials. We have provided a wide range of services, from management consulting to market forecasting and survey-related projects. I am particularly proud to have provided consulting services to one of the industry’s leading COVID-19 vaccine manufacturers for a packaging-related project. In the packaging space, I have served clients across a range of segments, including packaging printing, consumer packaging, flexible packaging, rigid packaging, and pharmaceutical packaging, to name a few. I deeply appreciate the efforts of my team and am grateful to our clients for their continued trust.