Potassium Carbonate Market by forecasting the high Growth Segments | UNID Corp.(South Korea), Armand Products Company(The U.S.), Hydrite Chemical Co.(The U.S.)

Potassium Carbonate Market

Potassium carbonate is a well-known chemical compound used in the production of soap, glass, and bakery and confectionery products, among other applications. It is a white salt, soluble in water, and can be manufactured by reacting potassium hydroxide with carbon dioxide. Nowadays, it is also manufactured through the electrolysis of potassium chloride. The subsequent potassium hydroxide is then carbonated using carbon dioxide to form potassium carbonate, which is mostly used to produce other potassium compounds such as fertilizers.

Potassium carbonate has been used in the manufacturing of glass, ceramics, agrochemicals, and potassium salts fora long time; however, the inclusion of potassium carbonate in pharmaceuticals and foods is still in the growth phase. Several studies are being conducted on the compound to explore new applications. The demand for potassium carbonate is bound to increase with increasing research efforts in years to come. The European Federation of Pharmaceutical Industries and Association has found that several manufacturers and research institutes in Europe and America have intensified investments in innovating and developing new pharmaceutical products, which will bolster potassium carbonate’s upcoming applications.

Potassium carbonate is also significantly used in the manufacturing of television glass, owing to its unique characteristics. Similarly, it is also used in several fire cracking applications and the manufacturing of cosmetics, food, and pharmaceuticals, among other products. Increasing demand for potassium carbonate from the glass industry to manufacture specialty glasses, including television tunes and other glass products, is expected to drive market growth during the forecast period. Glass Alliance Europe estimates that glass production in Europe reached a volume of nearly 36 million tons in 2017 and is expected to continue increasing in the coming years. Potassium carbonate is extensively used as a raw material in the manufacturing of electron tube, computer display, TV kinescope, and optical glass for improving clarity, strength, and refractive index.

Potassium carbonate is used as a rubber chemical in the rubber industry; thus, the growth of the rubber industry drives the overall consumption of potassium carbonate. Over 28,590 kilotons of rubber were produced across the globe in 2017. The automobile industry has been witnessing significant growth in the demand for automobiles in the past few years. Europe, North America, and Asia-Pacific produced 19.6, 17.46, and 23.7 million units of motor vehicles, respectively, in 2017. However, in the previous year, the production of vehicles was low compared to 2017. Therefore, this rapidly growing demand for vehicles across the globe is projected to boost the overall market for rubber chemicals as they are used in tire and tube manufacturing to provide high elasticity, durability, strength, hardness, and resistance to wear.

Potassium carbonate can be used as a chloride-free, non-corrosive completion fluid and has gained acceptance by many operators in the Middle East. The market has been witnessing steady growth within the oil & gas industry as potassium carbonate is widely used in several end-use applications such as automobiles and powering generator sets. Additionally, the compound can also be used to remove CO2 and H2S from the sour natural gas feed. Significant trading activities in natural gas are expected to offer a growth opportunity in the coming years. According to the OECD, thetotal export of liquefied natural gas and natural gas in a gaseous state was valued at USD 95,000 million and USD 107,000 million respectively in 2017.

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Industry Participants:
Various regional, as well as national and international chemical manufacturers, are offering potassium carbonate. Some of the prominent manufacturers globally are listed below.

UNID Corp.(South Korea)
Armand Products Company(The U.S.)
Gujarat Alkalies and Chemical Limited(India)
Hydrite Chemical Co.(The U.S.)
ASHTA Chemical Inc.(The U.S.)
Organic Potash Corp.(The U.S.)
Wentong Potassium Salt Group Co., Ltd(China)
Zhejiang Dayang Biotech Group Co.(China)
Chengdu Chemical Co., Ltd.(China)
Vynova Group (Belgium)

By Product Type, Electrolysis Method, Ion Exchange Method, Ash Method, Other Method,
By Application, Pharmaceuticals, Potassium Salts, Glass/TVs/Ceramics, Agrochemicals, Dyes & Inks, Rubber Chemicals, Others

NOTE: Our analysts monitoring the situation across the globe explains that the market will generate remunerative prospects for producers post the COVID-19 crisis. The report aims to provide an additional illustration of the latest scenario, economic slowdown, and COVID-19 impact on the overall industry.

Geographically, this report is segmented into several key regions, with sales, revenue, market share and growth rate of Steerable Medical Devices in these regions, from 2021 to 2029, covering:
North America (United States, Canada and Mexico)
Europe (Germany, UK, France, Italy, Russia and Turkey etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)

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Key Potassium Carbonate Market Trends:
- The report identifies, determines, and forecasts the Global Potassium Carbonate Market segments based on their type, sub-type, technology used, applications, end-users, and regions.
- Industry to Industry Holds Largest Share in the Potassium Carbonate Market
- It examines the micro-markets based on their growth trends, development patterns, future prospects, and contribution to the overall market.
- Demand from Regional / geographical is Expected to Drive the Growth
- Rising Adoption of Market Segments in this Growth
- North American, Europe is Expected to Witness Higher Growth Rate over the Forecast Period
- It studies the competitive developments such as partnerships and collaborations, mergers and acquisitions (M&A), research and development (R&D) activities, product developments, and expansions in the Global Potassium Carbonate Market.

Key Questions Answered in The Report:
What will the Potassium Carbonate market growth rate?
What are the key factors driving the global Potassium Carbonate market?
Who are the key manufacturers in the Potassium Carbonate market space?
What are the market opportunities, market risk, and market overview of the Potassium Carbonate market?
What are sales, revenue, and price analysis of top manufacturers of the Potassium Carbonate market?
Who are the distributors, traders, and dealers of the Potassium Carbonate market?
What are the market opportunities and threats faced by the vendors in the global Steerable Medical Devices Industry?
What are sales, revenue, and price analysis by types and applications of the Potassium Carbonate Industry?
What are sales, revenue, and price analysis by regions of Potassium Carbonate industry?
What are the driving factors contributing to market growth during the short, medium, and long term?

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