BANGALORE, India, June 26, 2024 /PRNewswire/ -- Potassium Hydroxide
Market is Segmented by Type (Solid, Liquid), by Application
(Pharmaceutical, Chemical): Global Opportunity Analysis and
Industry Forecast, 2024-2030.
The Global Potassium Hydroxide (KOH) Market was valued at
USD 3010.7 Million in 2023 and is
anticipated to reach USD 3642.3
Million by 2030, witnessing a CAGR of 2.7% during the
forecast period 2024-2030.
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Major Factors Driving the Growth of Potassium Hydroxide
Market:
Potassium hydroxide has several uses in a variety of industries,
which is what is mostly driving the market's growth. It serves as a
potent base in the chemical industry for the synthesis of
fertilizers, detergents, and potassium compounds. Given that
potassium hydroxide is an essential catalyst in the synthesis of
biodiesel, the market is further supported by the growing demand
for biofuels. Further driving market expansion is its use as a
stabilizer and thickening agent in the food sector as well as in
the pharmaceutical industry for drug formulation. In addition, the
demand for potassium hydroxide is further driven by the growth in
agricultural operations and the requirement for efficient
fertilizers and soil conditioners. Finally, improvements in
manufacturing techniques and a rise in industrialization in
developing nations foster market expansion.
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TRENDS INFLUENCING THE GROWTH OF POTASSIUM HYDROXIDE
MARKET:
The potassium hydroxide market is expanding at a substantial
rate due to the chemical industry's use of liquid potassium
hydroxide (KOH). A multitude of compounds, such as potassium
carbonate, potassium phosphates, and different potassium-based
fertilizers, are produced using liquid potassium hydroxide (KOH).
It is an essential ingredient in the production of biodiesel and
plays a key role in chemical synthesis reactions such as
neutralization and saponification. The requirement for liquid
potassium hydroxide (KOH) is rising due to the increased demand for
these chemicals in a variety of industries, including agriculture,
pharmaceuticals, and personal care goods. This is driving up the
growth of the KOH market as a whole.
The market for potassium hydroxide (KOH) is expanding because of
the pharmaceutical industry's substantial usage of the substance in
the formulation and production of drugs. KOH is used as a powerful
alkaline agent in procedures including pH management,
neutralization, and cleaning, as well as a crucial component in the
production of many medicinal compounds. It is essential to the
synthesis of drugs such as antibiotics, antiretrovirals, and
analgesics. The requirement for high-quality KOH for drug
production is growing as the pharmaceutical sector continues to
expand internationally due to increased healthcare needs and
innovation. This is driving up the price of KOH and propelling the
potassium hydroxide market.
Because of its many industrial uses and versatility, solid
potassium hydroxide (KOH) is propelling the potassium hydroxide
market's expansion. Solid potassium hydroxide (KOH) is used widely
in the production of detergents, soaps, and biodiesel. It is also
necessary for the synthesis of compounds like potassium carbonate
and potassium permanganate. It is perfect for a number of
procedures, such as chemical synthesis and acid neutralization,
because of its strong reactivity and ease of handling. The need for
solid potassium hydroxide (KOH) in various applications is growing
due to businesses' need for dependable and efficient chemical
agents, which is driving the market's overall expansion.
One essential ingredient in the production of alkaline batteries
is potassium hydroxide. It improves battery performance and
longevity by acting as an electrolyte. The market for batteries is
driven by the rising demand for renewable energy storage solutions,
electric vehicles, and portable electronic gadgets, which in turn
raises the need for KOH. As the world moves more and more toward
renewable energy sources and electric cars become more and more
common, the need for reliable and long-lasting batteries has
increased. This pattern greatly increases the need for KOH in the
production of batteries, which supports market expansion.
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POTASSIUM HYDROXIDE MARKET SHARE
Manufacturers of potassium hydroxide with global reach include
UNID, OxyChem, and others.The top two businesses own almost 36% of
the market.
With a market share of over 50%, Asia
Pacific is the largest, followed by the Americas and
Europe, with respective shares of
roughly 30% and 19%.
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Key Companies:
- 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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DISCOVER MORE INSIGHTS: EXPLORE SIMILAR REPORTS!
- Potassium Hydroxide Solutions Market
- Ultra High Purity Potassium Hydroxide Market
- High Quality Potassium Hydroxide Market
- Semiconductor and Electronic Grade Potassium Hydroxide
market was valued at USD 323
Million in 2023 and is anticipated to reach USD 561.7 Million by 2030, witnessing a CAGR of
6.0% during the forecast period 2024-2030.
- Chlor-Alkali market size is projected to reach
USD 94200 Million by 2027, from
USD 76090 Million in 2020, at a CAGR
of 3.1% during 2021-2027.
- The Global Green Ammonia Market revenue is about
35 Million USD in 2021 and is
projected to have a CAGR of 71% in the following five years.
- High Purity Potassium Carbonate market was valued at
USD 536 Million in 2023 and is
anticipated to reach USD 664.7
Million by 2030, witnessing a CAGR of 3.5% during the
forecast period 2024-2030.
- Cadmium Hydroxide Market
- Potassium Myristoyl Glutamate Market
- The wet chemicals market was valued at USD 3.2 billion in 2021, and is estimated to
reach USD 5.9 billion by 2031,
growing at a CAGR of 6.3% from 2022 to 2031.
- Synthetic Hair Paintbrush Market
- Acetone Cyanohydrin Market
- Wire Bond Inspection System Market
- Potassium Sorbate market was valued at 127 Million
USD in 2022, and is projected to reach 139 Million USD by 2029, growing at a CAGR of
5.7% from 2022 to 2039.
- Potassium Metabisulfite market is projected to reach
USD 166.9 Million by 2030 from an
estimated USD 121.7 Million in 2024,
at a CAGR of 5.4% during 2024 and 2030.
- Potassium Diformate Market
- Potassium Supplement market was valued at USD 315 Million in 2023 and is anticipated to
reach USD 511.3 Million by 2030,
witnessing a CAGR of 7.3% during the forecast period 2024-2030.
- Potassium Hexafluorozirconate Market
- Potassium Perfluorobutane Sulfonate Market
- Clavulanate Potassium market was valued at USD 446.6 Million in 2023 and is anticipated to
reach USD 637.2 Million by 2030,
witnessing a CAGR of 5.2% during the forecast period 2024-2030.
- Potassium Cyanate market was valued at USD 56 Million in 2023 and is anticipated to
reach USD 71 Million by 2030,
witnessing a CAGR of 3.5% during the forecast period 2024-2030.
- The global Agrochemicals market was valued at
USD 92490 Million in 2022 and is
anticipated to reach USD 115610
Million by 2029, witnessing a CAGR of 3.2% during the
forecast period 2023-2029.
- Food Grade Potassium Metabisulphite market was valued at
USD 203 Million in 2023 and is
anticipated to reach USD 260.9
Million by 2030, witnessing a CAGR of 3.6% during the
forecast period 2024-2030.
- Potassium Met Bisulfite Market
- Potassium Sorbate Solution 40% market was valued at
USD 526 Million in 2023 and is
anticipated to reach USD 843.4
Million by 2030, witnessing a CAGR of 7.0% during the
forecast period 2024-2030.
- Potash Ores Market
- Potash Alum Market
- Potassium Ethylate Market
- Potassium Perfluorobutane-1-Sulfonate (KBPS) market was
valued at USD 40 Million in 2023 and
is anticipated to reach USD 55
Million by 2030, witnessing a CAGR of 4.2% during the
forecast period 2024-2030.
- Potassium Perfluorobutanesulfonate market is projected
to reach USD 45 Million in 2029,
increasing from USD 32 Million in
2022, with a CAGR of 4.6% during the period of 2023 to 2029.
- Potassium Nitrate Fertilizer for Agriculture Market
- Solid Potassium Hydroxide Market
- Potassium Cocoate Market
- Potassium Hydrogen Oxalate Market
- Sulfate of Potash Market revenue was USD 3993 Million in 2022 and is forecast to a
readjusted size of USD 4690.9 Million
by 2029 with a CAGR of 2.3% during the forecast period
(2023-2029).
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