Potassium Carbonate Market Worldwide Industry Analysis and New Market Opportunities Explored By 2032

 

Future Market Insights’ (FMI’s) recent study uncovers hidden growth opportunities in the global potassium carbonate market. It offers in-depth insights into factors enabling expansion across various segments in terms of product form, and end use.

As per a study published by FMI, the global potassium carbonate market is poised to reach US$ 1.9 billion in 2021. Surging demand from industries such as consumer goods, agrochemical, and homecare is estimated to boost potassium carbonate demand. On account of this, the market is anticipated to surpass US$ 2.9 billion by the end of 2031.

Historically, the sales grew at a CAGR of 2% in the last few years due to the outbreak of the COVID-19. Growing usage of potassium carbonate in the production of personal care products, water treatment, and fire suppression products is fuelling the demand in the market. Driven by this, the sales of potassium carbonate are projected to expand at a CAGR of 4.4% during the forecast period 2021-2031.

Potassium carbonate is extensively used as a flux in the manufacturing of glass as it increases the transparency, resistance, and refractive coefficient of glass to provide excellent clarity. Increasing demand for glass products such windows across building & construction and automotive industries is expected to create lucrative growth opportunities for the market.

As per FMI, North America is expected to dominate the global market, growing at a CAGR of 4% through 2031. Rising sales of packaged food & beverage products such as chocolates, bakery products, and dried fruit in U.S. and Canada are driving the sales of potassium carbonate in the region.

“Rising application of potassium carbonate in the agrochemical industry, coupled with the government initiatives implemented to boost agricultural production, is expected to augment the growth of the market,” says the FMI analyst.

Key Takeaways from Potassium Carbonate Market Study

• Favored by the surging demand from the chemical industry in the U.S., the sales in the country are expected to rise at 3.8% year-on-year (YoY) in 2021.

• The market in India is estimated to witness a swift growth, exhibiting 5% YoY in 2021.

• China is projected to emerge as the fastest growing market in East Asia, expanding at a CAGR of 5.1% over the assessment period.

• South Korea and Japan are forecast to account for nearly 13.2% and 17.6% of the global revenue share, respectively, by the end of the coming decade.

• In terms of form, powder form of potassium carbonate is anticipated to register increasing demand, exhibiting 4.2% YoY growth in 2021.

Click For More Info: https://www.futuremarketinsights.com/reports/potassium-carbonate-market

 

Comments

Post a Comment

Popular posts from this blog

Infrared Imaging Market Current and Future Trends, Leading Players, and Regional Forecast By 2027

  Infrared Imaging Market  is rapidly growing in many enterprises. As many enterprises are using infrared imaging system for the security check, and surveillance of the enterprise important equipment. Initially infrared imaging is developed for military applications such as gun lights, binoculars and night vision camera’s, now it is used heavily in many commercial purpose due to its technology advancement. As closed circuit television (CCTV) camera technologies cannot give the proper detection of image in complete darkness, so Infrared imaging technology is used to detect the high-contrast image in complete darkness. Infrared imaging system can pass through smoke, dust, fog and even in the worst lighting conditions it can capture the image. Infrared Imaging Market: Drivers and Challenges The key driver growth for the infrared imaging market is rising demand in industrial and commercial use because of fast development in high speed infrared cameras with advanced features, and
Read more

Metal Deactivators Market Application, Region Wise Trend, Participants, analysis report 2027

  Metal deactivators are oil and fuel additives used as highly efficient solution to stabilize fluids by disabling the non-ferrous metal-ions. Metal deactivators reduces the negative effects in the lubricants such as corrosion and staining which is occurs mainly due to the oxidation process. To avoid this oxidation and metal contamination, special additives namely antioxidants are being used. However, cost of antioxidant chemicals is very high. Hence, for the reduction of the cost and usage of antioxidants, a very small quantity of metal deactivators are used. Selection of metal deactivators is also an important part, it is based on a number of factors including the metal to be protected, the base stock used, frequency of the application, length of time it needs to be effective and any additional properties needed for the application. The metal deactivator market is a very niche segment as compared to other additives; owing to its treat rate and its minute applications but this in
Read more

Minimally Invasive Lung Cancer Surgery Growth Analysis Report, Forecast to 2029

  The Minimally Invasive Lung Cancer Surgery holds nearly 10% of the US$ 12 Bn cancer surgery market in 2021. The global Lung Cancer Surgery Market was valued at US$ 1.23 Bn in 2021 and is expected to reach US$ 1.98 Bn by 2029, finds Future Market Insights (FMI) in a recent market survey. Lung cancer refers to the growth of abnormal cells in the lung tissue. Non-small cell lung cancer (NSCLC) and small cell lung cancer (SCLC) are the two major types of lung cancer. Treatment options for lung cancer usually includes various types of therapies such as chemotherapy, radiation therapy, immunotherapy, targeted drug therapy and surgery. Attempts to cure the disease with surgery involve the removal of the tumour, the surrounding lung tissue, and lymph nodes in the tumour area. Surgery is considered the treatment of choice for localized cancer, including carcinoid tumours. The rising level of air pollution in developing economies and the increasing research and development activities
Read more