Potassium Hydroxide Market Outlook - 2028
Potassium hydroxide is an inorganic compound with the formula KOH, and is also known as lye or potash lye, or caustic potash. Potassium hydroxide is formed by the reaction of potassium carbonate and calcium hydroxide. This is a salt metathesis reaction and gives precipitation of solid calcium carbonate and leaves potassium hydroxide in solution. It forms a clear solution when mixed with water and white to slightly yellow lumps, pellets, flakes or rods when in solid form. It is easily soluble in almost all liquids such as water, methanol, ethanol, and glycerin. It is non-combustible but highly corrosive and have relatively low melting point. Potassium hydroxide is mainly used in soft soap making, food industry, chemical manufacturing, and petroleum refining.
COVID-19 scenario analysis:
- Potassium hydroxide has main applications in daily use items such as detergents and soaps. In lockdown, all essential services were allowed, hence, there was comparatively lesser decline in growth of the potassium hydroxide market.
- The agriculture sector is the major buyer of potassium nitrate in the form of fertilizers, which were used normally in the lockdown as well. Hence, there was not much effect on the potassium hydroxide market.
- Glass industry uses potassium hydroxide as a flux as it gives excellent clarity to glass. However, owing to the pandemic, the glass industry has seen decline in manufacturing process, which, in turn, has led to decline in demand for potassium hydroxide.
Top impacting factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis
Extensive use of potassium hydroxide in several industries such as food & beverages, pharmaceuticals, electronics, agriculture, and glass is the major factor responsible for growth of the potassium hydroxide market. Majorly potassium hydroxide is used in thickening of food and as a pH control agent in food & beverages. In addition, the fertilizer industry is the major buyer of potassium hydroxide, which propels the market growth. In addition, the cosmetic and personal care industry is also a buyer of potassium hydroxide. Hence, rise in demand of cosmetic products act as a factor for growth of the potassium hydroxide market. Moreover, the electronic industry is uses potassium hydroxide for manufacturing of semiconductors, which propels the market growth. However, stringent government regulations regarding such chemicals act as restraint for the market growth.
In terms of market share, Asia-Pacific dominates the market across the globe, owing to high population, land fertility, rapid growth of agriculture industry, and effective use fertilizers. However, the market in North America is expected to grow at a significant CAGR during the forecast period, owing to presence of the massive industries in the region.
Key benefits of the report:
- This study presents analytical depiction of the global potassium hydroxide market along with current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global potassium hydroxide market share.
- The current market is quantitatively analyzed to highlight the global potassium hydroxide market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global potassium hydroxide market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the potassium hydroxide market research report:
- Which are the leading market players active in the potassium hydroxide market?
- What would be the detailed impact of COVID-19 on the market?
- What current trends would influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the potassium hydroxide market?
- What are the projections for the future that would help in taking further strategic steps??
Potassium Hydroxide Market Report Highlights
By End-Use Industry
Key Market Players
Occidental Petroleum Corporation, Inovyn Chlorvinyls Limited, UNID, Olin Corporation, ICL Fertilizers, Haifa Chemicals Ltd.,, Armand Products, The Mosaic Company, INEOS, Potassium hydroxide Corp.