The global potassium carbonate market is projected to total US$ 1.9 Bn in 2021, finds Future Market Insights (FMI) in a recent market analysis.

Increasing demand for potassium carbonate from end-use sectors such as food and beverage processing and consumer goods is expected to push sales of potassium carbonate at a steady 4.4% CAGR over the forecast period.

Amid soaring competition, top 5 players comprising Oxy (Occidental Petroleum Corporation), Evonik, Zheijang Juhua Co. Ltd., AGC Chemicals and Armand Products are projected to hold approximately 58% of the global potassium carbonate market share.

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2016-2020 Potassium Carbonate Market Overview Compared to 2021-2031 Forecast

Demand for potassium carbonate grew at a 2.0% CAGR between 2016 and 2020. Increasing demand for potassium carbonate from chemical industries in East Asia, North America and Europe are bolstering sales of potassium carbonate.

In 2020, the onset of the novel COVID-19 outbreak dampened sales prospects of potassium carbonate. However, resumption of production activities across various end-use sectors are expected to aid recovery of the market over the forecast period.

In addition to this, growing adoption of potassium carbonate in animal feed, potash fertilizers and food and beverage processing are expected to enhance growth prospects of the global potassium carbonate market, opines FMI.

Owing to aforementioned factors, the global potassium carbonate market is forecast to expand at a 4.4% CAGR through 2031.

projected bps change in market for key segments in global potassium carbonate market 2021 2031

Will Rising Sales of Animal Feed and Cleaning Products Propel Potassium Carbonate Consumption?

Growing demand for animal feed across the globe is expected to boost sales of potassium carbonate over the forecast period. Demand for animal feed is growing at a 2% CAGR globally, and the global consumption was estimated to be around 1,187.7 million tons in 2020. Potassium carbonate provides adds nutritive value, vitamins and minerals that support well-being of animals.

What is the Impact of COVID-19 Crisis on Potassium Carbonate Market?

Sales of potassium carbonate experienced a downward trend due to lockdown restrictions imposed to curb the coronavirus outbreak. Slowdown in automotive and construction industry projects resulted in stagnated demand for potassium carbonate.

Lockdowns and restrictions in the movement has resulted in the standstill of trade activities substantially impacted the supply chain network, creating supply side constraints as well. Thus, the supply side fluctuations as well as decrease in the demand from the key end use industries impacted the market of potassium carbonate across the globe.

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Category-wise Insights

Powder Form Potassium Carbonate to Remain Highly Sough-After

The powder segment is expected to enjoy year-on-year growth of 4.2% in 2021. Applications of powder form of potassium carbonate include soaps, detergents & cleaning products, pesticides and fertilizers, food and beverage processing, personal care products, glass manufacturing, and dyes & inks. Increasing demand from these industries is expected to boost sales prospects of potassium carbonate over the forecast period.

Which End-Use Sector is Enhancing Sales Prospects of Potassium Carbonate?

Demand for potassium carbonate in the food and beverage processing segment is estimated to grow by 4.7% year-over-year in 2021. The glass industry is expected to remain a key end user of potassium carbonate. The compound acts as a source of potassium oxide during production of various types of glasses. Growing demand for various types of glasses is expected to augment growth of the global potassium carbonate market over the forecast period.

Competitive Landscape

Key market players are investing in strategic collaborations, mergers and acquisitions to increase their production capacity. Apart from this, players are investing in research and development to launch new products in the market to gain a competitive edge. For instance:

  • In July 2021, Vynova, a leading PVC and Chlor-alkali manufacturer in Europe, announced that it is going to set a manufacturing unit in Belgium to increase expand its production capacity.

The latest study conducted by Future Market Insights covers all the strategies and success factors of key manufacturers of the market.

*The list is not exhaustive, and only for representational purposes. Full competitive intelligence with SWOT analysis available in the report.

Potassium Carbonate Market by Category

By Product Form:

  • Granules
  • Powder

By End Use:

  • Soaps, Detergents & Cleaning Products
  • Agrochemicals
  • Food & Beverage Processing
  • Personal Care Products
  • Glass
  • Dyes & Inks
  • Fire Suppression Products
  • Water Treatment
  • Others

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • Middle East & Africa

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Key Questions Answered in the Report

What is the current potassium carbonate Market value?

What is the current market share of Japan and South Korea in the global potassium carbonate market?

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