According to the latest report by IMARC Group, titled "Caustic Potash Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global caustic potash market reached a value of US$ 1.84 Billion in 2021. Caustic potash (KOH), or potassium hydroxide, is a strong alkaline substance that is manufactured through the electrolysis of potassium chloride and water by using mercury or diaphragm-based cells. It can also be acquired in the pure form by combining sodium hydroxide and impure potassium. This reaction forms a base of potassium hydroxide and salt, which is extremely versatile in nature. Caustic potash is commercially available in several forms, namely briquettes, crystal, flakes, and distinctively concentrated solution. Apart from this, the compound is highly reactive, corrosive, non-flammable at room temperature, and generates heat when dissolved in water or alcohol. Due to the aforementioned properties, caustic potash finds extensive application in industrial, chemical, and manufacturing sectors as a pH stabilizer, thickening agent, purifier, and electrolyte.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Caustic Potash Market Trends:
The global caustic potash market is primarily being driven by the rising product applications across various industry verticals. For instance, caustic potash is employed in the food and beverage (F&B) industry as a stabilizer, thickening agent, and pH adjuster in the preparation of numerous food products, such as chocolate, cocoa, soft drinks, and ice cream, which is driving the market growth. In line with this, as caustic potash is a versatile cleaning agent with high solubility in water, it is also being employed in various household and personal care products, including soaps, shampoos, lotions, hairsprays, and denture cleaners. Moreover, the substance is extensively utilized in the production of potassium carbonate, which is primarily used to manufacture fire extinguisher, textile printing, and specialty chemicals. It is also used in water treatment plants and wineries to clean the biofilms of bacteria and yeast inside the tanks, which is acting as a major growth-inducing factor. Besides this, the increasing product employment across the medical field in wet mount preparation of clinical specimens for microscopic visualization of fungi and fungal components in nail, skin, hair, and vaginal secretions are projected to drive the market growth further. Caustic potash-based fertilizers are being used in the agriculture sector to improve crop yield and overall productivity, which is creating a positive outlook for the market. Looking forward, the market is expected to reach a value of US$2.43 Billion by 2027.
- Based on the form, the market has been bifurcated into solid and liquid. At present, the solid form dominates the market.
- On the basis of the grade, the market has been divided into industrial, reagent, and pharma. Amongst these, industrial grade accounts for majority of the market share.
- Based on the end-use, the market has been classified into potassium carbonate, potassium phosphates, potassium soaps and detergents, liquid fertilizers, agricultural chemicals, and others. The report finds that potassium carbonate currently represents the largest end-use segment.
- On the geographical front, Asia Pacific represents the largest market, followed by North America, Europe, Latin America and Middle East and Africa.
- The competitive landscape of the market has been examined, with some of the key players being UNID Company Ltd., Occidental Petroleum Corporation, Tessenderlo Group, Olin Corporation, Erco Worldwide (USA) Inc., and Chengdu Huarong Chemical Company Limited.
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