In 2020, the COVID-19 pandemic negatively impacted demand for potassium carbonate. Nationwide lockdown restrictions and disrupted supply chains further dampened sales prospects of potassium carbonate. However, FMI has projected the market to recover at a steady pace, as sales are anticipated to grow by 4.1% year-over-year between 2020 and 2021.
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Increasing demand from various end-use industries such as agrochemicals, food and beverages, glasses, and cleaning products are anticipated to boost sales of potassium carbonate over the forecast period.
In addition to this, rising adoption of potassium carbonate in fire suppression products, personal care products, inks and dyes and water treatment are also bolstering growth of the market. Strong development in the chemical sector in East Asia, North America and Europe are expected to continue pushing sales of potassium carbonate.
Key Takeaways:
- Based on product form, the powder segment is expected to expand at a 4.2% CAGR in 2021.
- In terms of application, sales of potassium carbonate in the glass segment are projected to rise at a 3.7% CAGR through 2031.
- The U.S. will continue exhibiting high demand for potassium carbonate, with demand rising at a 3.8% CAGR in 2021.
- Sales of potassium carbonate in India are expected to grow by 5.0% year-over-year between 2020 and 2021.
- China will emerge as a lucrative potassium carbonate market, expanding at a 5.1% CAGR over the forecast period.
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Competitive Landscape
Evonik Industries AG, UNID GLOBAL Corporation, Oxy (Occidental Petroleum Corporation), Gujarat Alkalies and Chemicals Limited, Vynova Group, AGC Chemicals, JSC Pikalevskaya Soda, Esseco Group, Shanghai Wentong Chemicals Co., Ltd. (Wentong Group), Foodchem International Corporation, Shanxi Guangyuan Fertilizer Co., Ltd., Armand products, Zhejiang Dayang, Zhejiang Juhua Co., Ltd., and Hebei Xinjichemical are among the key players operating in the global potassium carbonate market.
Top 5 players comprising Oxy (Occidental Petroleum Corporation), Evonik, Zheijang Juhua Co. Ltd., AGC Chemicals and Armand Products are anticipated to account for approximately 58% of the total potassium carbonate market share over the forecast period.
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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Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumersz
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