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Potassium Hydroxide Market: Size, Share, Growth, Analysis, Key Players, Revenue, Growth | Valuates Reports
Potassium Hydroxide Market Analysis 2022-2028The Global Potassium Hydroxide Market size is estimated to be worth US$ 2716 million in 2022 and is projected to reach US$ 2952.3 million by 2028 with a CAGR of 1.4% during the forecast period.
Key drivers of the potassium hydroxide market include increasing use as a raw material in the chemical industry.
The pharmaceutical industry is a major contributor to the growth of the potassium hydroxide market. It is used extensively for manufacturing drugs as a chemical reagent.
Moreover, the light and dye industry will create increasing demand for potassium hydroxide thereby driving the market growth during the forecast period.
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Trends Influencing The Global Potassium Hydroxide Market
Widespread Application In The Chemical Industry
Potassium hydroxide is used as a raw material for making various chemicals such as laurate, formate, gluconate and potassium aluminate, etc. It is also used for adjusting the PH balance of chemical solutions and eliminating organic acid and other sulfur compounds. The refining of petroleum, natural gas, and production catalysts for biodiesels form another major application use. This large-scale adoption in the chemical sector will drive the growth of the potassium hydroxide market during the forecast period.
Pharmaceutical Industry
Pharmaceutical Industry Will Drive The Market Expansion. The medical and pharmaceutical industry applies potassium hydroxide for clinical trials of fungi and fungal elements in hair, skin, nails. It is being researched for the treatment of warts. Potassium hydroxide pellets are used in the production of drugs, synthesis, saponification, and cleaning. These trends are expected to drive the growth of the potassium hydroxide market in the coming years.
Light And Dye Industry
The demand for potassium hydroxide in the light industry is huge. Products such as cellophane tape, x-ray films, and rayon are made by using this chemical compound. Moreover, the demand for textile dyes, pigments in paints, coatings, and plastics will create growth opportunities for the potassium hydroxide market during the forecast period.
Potassium Hydroxide Market Share Analysis
Based on type, the solid potassium hydroxide segment is expected to provide lucrative opportunities for growth in the potassium hydroxide market share as it has widespread application in light, dye, chemical, pharmaceutical industry, etc.
Based on region, Asia-Pacific is expected to dominate in the potassium hydroxide market share due to rapid urbanization. China is the leading country at a share of 36% followed by the US at 28%.
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Potassium Hydroxide Market Segment By Type
• Solid Potassium Hydroxide
• Liquid Potassium Hydroxide
Potassium Hydroxide Market Segment By Application
• Chemical Raw Material Potassium
• Pharmaceutical Industry
• Light Industry
• Dye Industry
• Denka Industry
• Others
The Key Players of Potassium Hydroxide Market are:-
• OxyChem
• UNID
• Tessenderlo chemie
• Olin Chlor Alkali
• Evonik
• ERCO Worldwide
• Asahi Glass (AGC)
• Potasse and Produits Chimiques SAS (PPC)
• Pan-Americana S.A.
• Ercros
• Albemarle
• ICL
• Altair Chimica
• Inner Mongolia Rida Taifeng Chemical
• QingHai Salt Lake Industry Group
• Chengdu Huarong Chemical
• Tssunfar
• Xinxiang Shenma Zhenghua Chemical
• Chengdu Chemical
• Tianjin Longyuan Chemical
• Jiangxi Zhangfeng Chemical
• Taizhou Mingguang Chemical
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