Caustic Potash Market Is Expected To Reach 2.7 Million Tons By 2024
Caustic potash, also known as potassium hydroxide, represents a widely-used inorganic compound with the chemical formula KOH. It is white in colour, odourless, non-flammable as well as non-volatile at room temperature.
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The structure of caustic potash consists of an ionic bond between the potassium metal cation and the hydroxyl anion. It is deliquescent, corrosive and highly reactive in nature and absorbs moisture from the air until it is dissolved. Caustic potash is either used as a solid (flakes, crystals or briquettes) or as a solution with varying concentrations. On account of its distinct list of properties, caustic potash finds myriad applications in a number of industries. It is extensively used in consumer products, agro-chemicals and industrial chemicals.
The demand for caustic potash witnessed a fluctuating trend during 2014-2018. This was due to a decline in both its demand and prices during the period. However, the demand for caustic potash increased moderately in the year 2018. According to a new report by Expert Market Research, the global caustic potash market reached around 2.2 Million Tons in 2018 and is further expected to reach 2.7 Million Tons by 2024. Factors such as increasing population, rising disposable income and a growing demand from emerging nations have proliferated the demand for caustic potash across the world.
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Market breakup by Application:
- Potassium carbonate
- Potassium phosphates
- Potassium soaps and detergents
- Liquid fertilizers
- Other applications
Market breakup by Region:
- Asia
- North America
- Europe
- Others
Top players:
- Unid Co Ltd
- Occidental Chemical Corporation
- Tessenderlo Chemie NV
- Olin Chlor Alkali Products
- Erco Worldwide (USA) Inc.
- Chengdu Huarong Chemical Company Limited
Key findings from the report:
- Caustic potash serves a number of application domains which include potassium carbonate, potassium phosphates, potassium soaps and detergents, liquid fertilizers and Others. Among these, potassium carbonate accounted for the largest share in 2018.
- Region-wise, Asia dominated the market with the majority of the share. This can be attributed to the mounting population in the region. Asia was followed by North America, Europe and Others.
- Some of the top players operating in the global caustic potash market include Unid Co Ltd, Occidental Chemical Corporation, Tessenderlo Chemie NV, Olin Chlor Alkali Products, Erco Worldwide (USA) Inc. and Chengdu Huarong Chemical Company Limited.
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