Potassium Carbonate Market - Forecast(2024 - 2030)

Report Code: CMR 26731 Report Format: PDF + Excel

Potassium Carbonate Market Overview

Potassium Carbonate market size is forecasted to reach US$655.4 million by 2027, after growing at a CAGR of 3.2% during the forecast period 2022-2027. The inorganic compound potassium carbonate has the formula K2CO3. It's a white salt that dissolves in water but not in alcohol or acetone. It is a deliquescent solid that often appears damp. The potassium carbonate market is primarily driven by the increasing demand for potassium carbonate from the glass and ceramic industries. In addition, sales of potassium carbonate are being boosted by rising demand from chemical process industries in various regions. Furthermore, the rising adoption of potassium carbonate in animal feed, potash fertilizers, and food and beverage processing is expected to boost the potassium carbonate market's growth prospects.

COVID-19 Impact

The COVID-19 epidemic hampered the potassium carbonate market growth as glass demand was negatively impacted in a variety of end-use industries, including automotive, aerospace, construction, and more. Due to the closure of non-essential businesses, the outbreak had a significant impact on the aerospace, automotive, and construction industries. As demand for automobiles and aircrafts dwindled, production was abruptly halted. For instance, according to the International Organization of Motor Vehicle Manufacturers, global automotive production will fall by 16 percent in 2020. Due to the impact of the COVID-19 pandemic, Toyota Motor Corporation's global vehicle manufacturing in 2020 was flat at 12.6 percent year over year. Furthermore, during the pandemic, construction output was drastically decreased. According to the Office for National Statistics, the construction industry in the United Kingdom was 11.6 percent lower in July 2020 than it was in February 2020. In August 2020, the level of project construction in the United Kingdom was 10.8% lower than in February 2020. Due to this the demand for glass significantly reduced, which impacted the potassium carbonate market revenue in 2020.

Report Coverage

The report: “Potassium Carbonate Market Report – Forecast (2022-2027)”, by IndustryARC, covers an in-depth analysis of the following segments of the Potassium Carbonate market.

By Form: Solid, and Liquid
By Grade: Food Grade, Technical Grade, Reagent Grade, and Others
By Manufacturing Process: Electrolysis Method, Ion Exchange Method, Ash Method, and Others
By Packaging Type: Bags, Drums, Bottles, and Others
By Application: Glass, Ceramics, Adhesives, Fertilizers, Dyes & Inks, Cleaners, Gas Purification, Tanning Leathers, Rubber Additives, Fire Suppressants, and Others
By End-Use Industry: Food & Beverage (Chocolates, Beers, Wines, Mineral Waters, Animal Feeds, and Others), Chemicals (Inorganic Chemicals, Potassium Salts, Oxalic Acid, and Others), Agrochemicals, Pharmaceuticals, Building and Construction (Residential, and Commercial), Transportation (Automotive, Aerospace, Locomotive, and Marine), Hone & Industrial Cleaning (Soaps, Detergents, Bleach, and Others), and Others
By Geography: North America (USA, Canada, and Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia, Belgium, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia, and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), Rest of the World (Middle East, and Africa)

Key Takeaways

  • Asia-Pacific dominates the potassium carbonate market, owing to the increasing food & beverage, and glass industry in the region. The increasing per capita income and evolving lifestyle of individuals coupled with the rising population are the major factors expanding the food & beverage industry in APAC.
  • Earnings of potassium carbonate in the glass industry are being pushed by rising demand for automobiles, aerospace, and buildings.
  • Furthermore, increased government support and a well-developed pharmaceutical industry are expected to boost the potassium carbonate market's growth.
  • Potassium carbonate consumption is also expected to increase as demand for industrial and institutional cleaning products, detergents, and household cleaning agents rises.
  • During the forecast period, however, various health risks associated with potassium carbonate, as well as the availability of substitutes, are expected to act as major restraints on the potassium carbonate market's growth.

Figure: Asia-Pacific Potassium Carbonate Market Revenue, 2021-2027 (US$ Million)
Potassium Carbonate Market
For More Details On this report - Request For Sample

Potassium Carbonate Market Segment Analysis – By Application

The glass segment held the largest share in the potassium carbonate market in 2021 and is forecasted to grow at a CAGR of 4.8% during the forecast period 2022-2027. In the glass industry, potassium carbonate is primarily used as a flux. It improves the resistance, transparency, and refractive coefficient of glass, resulting in excellent clarity in spectacles, glassware, television screens, and computer monitors. It also looks stunning in glass sculptures and other works of art. Potassium carbonate is also used to make other specialty types of glass, such as potash glass, borosilicate glass, optical glass for telescopes and microscopes, and lead crystal, in addition to making glass stronger. Thus, potassium carbonate is a vital component of the glass industry, owing to which the segment holds the largest share.

Potassium Carbonate Market Segment Analysis – By End-Use Industry

The building & construction segment held the largest share in the potassium carbonate market in 2021 and is forecasted to grow at a CAGR of 5.1% during the forecast period 2022-2027, owing to the increasing usage of glass in the building & construction industry. In domestic housing, glass is used for smaller windows. Glass reduces solar heat gain and reduces glare. It also reduced the harmful UV radiation that entered the interiors, which is why laminated and toughened glass is commonly used in residential construction. Governments are taking steps to increase residential building construction to meet the growing demand for housing in the Asia-Pacific region. For instance, Thailand's government has set aside THB4 billion ($125.6 million) to fund five low-cost housing developments throughout the country. The Indian government has also launched a project called "100 smart cities" to boost the country's housing market. In addition, the Pradhan Mantri Awas Yojana (PMAY) program aims to provide affordable housing to all urban poor by 2022 through initiatives such as financial assistance. Such government initiatives are set to increase the demand for glass in the residential construction sector, and further drive the potassium carbonate market growth in the Asia-Pacific region during the forecast period.

Potassium Carbonate Market Segment Analysis – By Geography

Asia-Pacific region held the largest share in the potassium carbonate market in 2021 up to 43%, owing to the bolstering growth of the building and construction sector in APAC countries. For instance, to help with rising air traffic, the Indian Union Budget proposed in February 2020 that 100 new airports be constructed by 2024 underneath the Centre's Udan scheme. China's total hotel construction pipeline stood at 3,693 projects/700,567 rooms at the end of the fourth quarter, according to Lodging Econometrics' (LE) Q4 2021 China Construction Pipeline Trend Report, up 9% in projects and rooms year over year (YOY). In December 2021, the Government of Odisha, India, awarded L&T Construction, a construction subsidiary of Indian conglomerate Larsen & Toubro (L&T), a contract to construct clinical blocks and allied infrastructure for an advanced hospital in Cuttack. The construction company has classified the contract as 'large,' meaning it could be worth anywhere from INR25 billion (US$329 million) to INR50 billion (US$658 million). The Japanese government and A'ana No.1 College celebrated the completion of the new school hall and toilet block at A'ana No.1 College in March 2022. The project was partially funded by the Grant Assistance for Grass-Roots Human Security Projects (GGP) program in Japan, which provided a grant of up to US$218,136. And with the increasing commercial construction activities, it is anticipated that glass installation in commercial buildings will significantly increase, which will accelerate the demand for potassium carbonate. As a result, the growing building and construction industry in APAC will be a major driver of market growth over the forecast period.

Potassium Carbonate Market Drivers

Growing Food & Beverage Industry

Potassium carbonate is used in the food industry for a variety of purposes, including chocolate production, dried fruit production, bakery, and more. It's used in cooked products, alfalfa drying, beer brewing, oriental noodles, and as an additive in drying raisins. It's also used in the production of fruit and wine as a buffer. Food & beverage production is on an upsurge in various regions. For instance, according to the Brewers Association, overall U.S. beer volume sales increased 1% in 2021, while craft brewer volume sales increased 8%, bringing small and independent brewers' volume share of the U.S. beer market to 13.1%. Craft beer retail dollar sales increased by 21% to US$26.8 billion, accounting for just under 27% of the US$100 billion (previously US$94 billion) beer market. The government of Uttar Pradesh has included provisions for the promotion of wine production units in the state's Excise Policy 2021-22 to promote fruit wines in a big way. In February 2022, according to the All India Wine Producers Association (AIWPA), wine sales in Maharashtra, India, could increase by 25-30% as a result of the state cabinet's decision to allow wine sales in supermarkets and shelf-in shops. Such government initiatives are bolstering the growth of the wine industry. Because beer and wine production are booming, there is a significant increase in demand for potassium carbonate. Thus, the increasing food & beverage sector acts as a driver for the potassium carbonate market during the forecast period.

Flourishing Automotive and Aerospace Industry

The automotive and aerospace industries both rely heavily on glass. It is generally used for the vehicle's front and rear windshields. Various countries' automotive and aerospace industries are thriving. According to the Organisation Internationale des Constructeurs d'Automobiles (OICA), automotive production in Malaysia and Vietnam increased by 1.2 percent and 5.5 percent, respectively, in 2019, to 5,71,632 and 2,50,000 units. Brazil's passenger vehicle production increased by 2.5 percent from 2,387,967 units in 2018 to 2,448,490 units in 2019, according to the International Organization of Motor Vehicle Manufacturers. In November 2020, Boeing forecasted that China's airlines would spend US$1.4 trillion on 8,600 new planes and US$1.7 trillion on commercial aviation services over the next 20 years. According to the Boeing Commercial Market Outlook 2021-2040, North America will require 9,160 new airplane deliveries by 2040, while Latin America will require 2,530. Between 2019 and 2040, North America's airline fleet is expected to grow by 1.7 percent, while South America's will grow by 3.4 percent. With the increasing production of automobiles and aircraft, the demand for glasses will also exponentially increase, which will aid the potassium carbonate market growth, thereby acting as a market driver.

Potassium Carbonate Market Challenges

Side Effects of Potassium Carbonate

Potash can cause inflammation of the eyes, skin, stomach, and throat, among other things. It can also irritate the respiratory system, as well as the skin and eyes. Potassium carbonate irritates the skin when it comes into contact with it, especially after prolonged exposure. Potassium carbonate irritates the eyes and mucous membranes severely. Long-term exposure can result in permanent corneal damage and vision loss. Potassium carbonate irritates the gastrointestinal tract, causing burns on the lips, tongue, mouth, oesophagus, and stomach if consumed. A sharp drop in blood pressure, causes vomiting and nausea, severe abdominal pain, and, in severe cases, difficulty breathing. Coughing, difficulty breathing, and chest pain may occur in patients who inhale large amounts of potassium carbonate. The stimulation of the respiratory tract and its mucous membranes causes this. Thus, all these side effects of potassium carbonate are anticipated to hinder the market growth during the forecast period.

Potassium Carbonate Industry Outlook

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the potassium carbonate market. potassium carbonate market top 10 companies are:
  1. AGC Chemicals
  2. Zhejiang Dayang Biotech Group Co. Ltd.
  3. Wentong Potassium Salt Group Co. Ltd.
  4. Evonik Industries AG
  5. Vynova Group
  6. Pikalevskaya Soda
  7. Altair Chimica S.p.A.
  8. Esseco USA LLC
  9. Merck KGaA
  10. TCI Chemicals

Recent Developments

  • In July 2021, Vynova announced that it will construct a state-of-the-art liquid potassium carbonate (K2CO3) production plant at its Tessenderlo, Belgium, facility. The new, larger facility will replace Vynova's existing potassium carbonate plant in Tessenderlo and will be built to keep up with the company's growth, bolstering its position as Europe's leading potassium derivatives supplier.
  • In April 2021, On the premises of Hydrochem Italia s.r.l. in Pieve Vergonte, a new processing facility for the manufacturing of chlorine and potassium hydroxide was started up. With a capacity of 80,000 tonnes of potassium hydroxide per year. Potassium hydroxide is frequently made from potassium carbonate.
  • In April 2020, Potassium carbonate from Evonik has been approved for use in food. The FSSC22000 certification for the plant in Lülsdorf, near Cologne, confirms the highest standards in potassium carbonate production and packaging.

Relevant Reports

Report Code: CMR 45150

Report Code: CMR 0837

Report Code: CMR 0521

For more Chemicals and Materials Market reports, please click here
1. Potassium Carbonate Market- Market Overview
    1.1 Definitions and Scope
2. Potassium Carbonate Market- Executive Summary
    2.1 Key Trends by Form
    2.2 Key Trends by Grade
    2.3 Key Trends by Manufacturing Process
    2.4 Key Trends by Packaging Type
    2.5 Key Trends by Application
    2.6 Key Trends by End-Use Industry
    2.7 Key Trends by Geography
3. Potassium Carbonate Market – Comparative analysis
    3.1 Market Share Analysis- Major Companies
    3.2 Product Benchmarking- Major Companies
    3.3 Top 5 Financials Analysis
    3.4 Patent Analysis- Major Companies
    3.5 Pricing Analysis (ASPs will be provided)
4. Potassium Carbonate Market - Startup companies Scenario Premium Premium
    4.1 Major startup company analysis:
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Product portfolio
        4.1.4 Venture Capital and Funding Scenario
5. Potassium Carbonate Market – Industry Market Entry Scenario Premium Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing Business Index
    5.3 Successful Venture Profiles
    5.4 Customer Analysis – Major companies
6. Potassium Carbonate Market - Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porters Five Force Model
        6.3.1 Bargaining Power of Suppliers
        6.3.2 Bargaining Powers of Buyers
        6.3.3 Threat of New Entrants
        6.3.4 Competitive Rivalry
        6.3.5 Threat of Substitutes
7. Potassium Carbonate Market – Strategic Analysis
    7.1 Value Chain Analysis
    7.2 Opportunity Analysis
    7.3 Product/Market Life Cycle
    7.4 Distributor Analysis – Major Companies
8. Potassium Carbonate Market - By Form (Market Size -US$ Million/Billion)
    8.1 Solid
    8.2 Liquid
9. Potassium Carbonate Market - By Grade (Market Size -US$ Million/Billion)
    9.1 Food Grade
    9.2 Technical Grade
    9.3 Reagent Grade
    9.4 Others
10. Potassium Carbonate Market – By Manufacturing Process (Market Size -US$ Million/Billion)
    10.1 Electrolysis Method
    10.2 Ion Exchange Method
    10.3 Ash Method
    10.4 Others
11. Potassium Carbonate Market - By Packaging Type (Market Size -US$ Million/Billion)
    11.1 Bags
    11.2 Drums
    11.3 Bottles
    11.4 Others
12. Potassium Carbonate Market - By Application (Market Size -US$ Million/Billion)
    12.1 Glass
    12.2 Ceramics
    12.3 Adhesives
    12.4 Fertilizers
    12.5 Dyes & Inks
    12.6 Cleaners
    12.7 Gas Purification
    12.8 Tanning Leathers
    12.9 Rubber Additives
    12.10 Fire Suppressants
    12.11 Others
13. Potassium Carbonate Market - By End-Use Industry (Market Size -US$ Million/Billion)
    13.1 Food & Beverage
        13.1.1 Chocolates
        13.1.2 Beers
        13.1.3 Wines
        13.1.4 Mineral Waters
        13.1.5Animal Feeds
    13 Others
    13.2 Chemicals
        13.2.1 Inorganic Chemicals
        13.2.2 Potassium Salts
        13.2.3O xalic Acid
        13.2.4 Others
    13.3 Agrochemicals
    13.4 Pharmaceuticals
    13.5 Building and Construction
        13.5.1 Residential
        13.5.2 Commercial
    13.6 Transportation
        13.6.1 Automotive
        13.6.2 Aerospace
        13.6.3 Locomotive
        13.6.4 Marine
    13.7 Home & Industrial Cleaning
        13.7.1 Soaps
        13.7.2 Detergents
        13.7.3 Bleach
        13.7.4 Others
    13.8 Others
14. Potassium Carbonate Market - By Geography (Market Size -US$ Million/Billion)
    14.1 North America
        14.1.1 USA
        14.1.2 Canada
        14.1.3 Mexico
    14.2 Europe
        14.2.1 UK
        14.2.2 Germany
        14.2.3 France
        14.2.4 Italy
        14.2.5 Netherlands
        14.2.6 Spain
        14.2.7 Russia
        14.2.8 Belgium
        14.2.9 Rest of Europe
    14.3 Asia-Pacific
        14.3.1 China
        14.3.2 Japan
        14.3.3 India
        14.3.4 South Korea
        14.3.5 Australia and New Zealand
        14.3.6 Indonesia
        14.3.7 Taiwan
        14.3.8 Malaysia
        14.3.9 Rest of APAC
    14.4 South America
        14.4.1 Brazil
        14.4.2 Argentina
        14.4.3 Colombia
        14.4.4 Chile
        14.4.5 Rest of South America
    14.5 Rest of the World
        14.5.1 Middle East
            14.5.1.1 Saudi Arabia
            14.5.1.2 UAE
            14.5.1.3 Israel
            14.5.1.4 Rest of the Middle East
        14.5.2 Africa
            14.5.2.1 South Africa
            14.5.2.2 Nigeria
            14.5.2.3 Rest of Africa
15. Potassium Carbonate Market – Entropy
    15.1 New Product Launches
    15.2 M&As, Collaborations, JVs and Partnerships
16. Potassium Carbonate Market – Industry/Segment Competition Landscape Premium
    16.1 Company Benchmarking Matrix – Major Companies
    16.2 Market Share at Global Level - Major companies
    16.3 Market Share by Key Region - Major companies
    16.4 Market Share by Key Country - Major companies
    16.5 Market Share by Key Application - Major companies
    16.6 Market Share by Key Product Type/Product category - Major companies
17. Potassium Carbonate Market – Key Company List by Country Premium Premium
18. Potassium Carbonate Market Company Analysis - Business Overview, Product Portfolio, Financials, and Developments
    18.1 Company 1
    18.2 Company 2
    18.3 Company 3
    18.4 Company 4
    18.5 Company 5
    18.6 Company 6
    18.7 Company 7
    18.8 Company 8
    18.9 Company 9
    18.10 Company 10 and more
"*Financials would be provided on a best efforts basis for private companies"

LIST OF TABLES

1.Global An Potassium Carbonate Market, by Type Market 2023-2030 ($M)
2.Global An Potassium Carbonate Market Analysis and Forecast by Type and Application Market 2023-2030 ($M)
3.Global An Potassium Carbonate Market, by Type Market 2023-2030 (Volume/Units)
4.Global An Potassium Carbonate Market Analysis and Forecast by Type and Application Market 2023-2030 (Volume/Units)
5.North America An Potassium Carbonate Market, by Type Market 2023-2030 ($M)
6.North America An Potassium Carbonate Market Analysis and Forecast by Type and Application Market 2023-2030 ($M)
7.South America An Potassium Carbonate Market, by Type Market 2023-2030 ($M)
8.South America An Potassium Carbonate Market Analysis and Forecast by Type and Application Market 2023-2030 ($M)
9.Europe An Potassium Carbonate Market, by Type Market 2023-2030 ($M)
10.Europe An Potassium Carbonate Market Analysis and Forecast by Type and Application Market 2023-2030 ($M)
11.APAC An Potassium Carbonate Market, by Type Market 2023-2030 ($M)
12.APAC An Potassium Carbonate Market Analysis and Forecast by Type and Application Market 2023-2030 ($M)
13.MENA An Potassium Carbonate Market, by Type Market 2023-2030 ($M)
14.MENA An Potassium Carbonate Market Analysis and Forecast by Type and Application Market 2023-2030 ($M)

LIST OF FIGURES

1.US Global An Potassium Carbonate Industry Market Revenue, 2023-2030 ($M)
2.Canada Global An Potassium Carbonate Industry Market Revenue, 2023-2030 ($M)
3.Mexico Global An Potassium Carbonate Industry Market Revenue, 2023-2030 ($M)
4.Brazil Global An Potassium Carbonate Industry Market Revenue, 2023-2030 ($M)
5.Argentina Global An Potassium Carbonate Industry Market Revenue, 2023-2030 ($M)
6.Peru Global An Potassium Carbonate Industry Market Revenue, 2023-2030 ($M)
7.Colombia Global An Potassium Carbonate Industry Market Revenue, 2023-2030 ($M)
8.Chile Global An Potassium Carbonate Industry Market Revenue, 2023-2030 ($M)
9.Rest of South America Global An Potassium Carbonate Industry Market Revenue, 2023-2030 ($M)
10.UK Global An Potassium Carbonate Industry Market Revenue, 2023-2030 ($M)
11.Germany Global An Potassium Carbonate Industry Market Revenue, 2023-2030 ($M)
12.France Global An Potassium Carbonate Industry Market Revenue, 2023-2030 ($M)
13.Italy Global An Potassium Carbonate Industry Market Revenue, 2023-2030 ($M)
14.Spain Global An Potassium Carbonate Industry Market Revenue, 2023-2030 ($M)
15.Rest of Europe Global An Potassium Carbonate Industry Market Revenue, 2023-2030 ($M)
16.China Global An Potassium Carbonate Industry Market Revenue, 2023-2030 ($M)
17.India Global An Potassium Carbonate Industry Market Revenue, 2023-2030 ($M)
18.Japan Global An Potassium Carbonate Industry Market Revenue, 2023-2030 ($M)
19.South Korea Global An Potassium Carbonate Industry Market Revenue, 2023-2030 ($M)
20.South Africa Global An Potassium Carbonate Industry Market Revenue, 2023-2030 ($M)
21.North America Global An Potassium Carbonate Industry By Application
22.South America Global An Potassium Carbonate Industry By Application
23.Europe Global An Potassium Carbonate Industry By Application
24.APAC Global An Potassium Carbonate Industry By Application
25.MENA Global An Potassium Carbonate Industry By Application