Enjoy complimentary customisation on priority with our Enterprise License!
The potassium hydroxide market is estimated to increase by USD 1.10 billion at a CAGR of 3.19% between 2022 and 2027. The growing demand for potassium carbonate is driven by its use in various industries, including the production of glass, detergents, and chemicals. The high demand for household and personal care products is also contributing to market growth, as potassium carbonate is used in the manufacturing of soaps, shampoos, and other cleaning agents. Additionally, the increasing demand for fertilizers is driving the need for potassium carbonate, which is used as a source of potassium in fertilizers.
This market report extensively covers market segmentation by type (solid potassium hydroxide and liquid potassium hydroxide), application (potassium carbonate, chemical intermediates, other potassium salts, pharma and household, and others), and geography (APAC, North America, Europe, South America, and the Middle East And Africa).
The market share growth by the segments solid potassium hydroxide segment will be significant during the forecast period. Solid KOH is an inorganic compound that is widely used for various applications. Due to its versatile properties and applications in different industries, there has been an increasing demand for solid caustic potash over the years.
Get a glance at the market contribution of the End User segment Request Free Sample
The solid potassium hydroxide segment was valued at USD 3.56 billion in 2017. It is widely used in the chemical industry as a strong base and alkaline reagent. Some of the key applications include the production of various chemicals, including potassium salts, detergents, fertilizers, and pharmaceuticals. Therefore, the expanding chemical industry has significantly contributed to the growing demand. The increasing demand for personal care and cleaning products and the usage in the production of liquid soaps, detergents, and other cleaning agents, it is expected to drive the market growth of this segment which in turn will drive the global market during the forecast period.
KOH is widely used in the commercial production of potassium carbonate, which has various applications across multiple industries. This carbonate is produced by reacting caustic potash with carbon dioxide and finds applications in specialty glass manufacturing, detergents, cleaners, photographic chemicals, agriculture, gas purification, rubber additives, the dairy industry, polymer catalysts, cement, textiles, and more. It is particularly important in the production of specialty glass for cathode ray tubes (CRTs) used in televisions and computer monitors. Additionally, it is used in the pharmaceutical industry as a drying agent and in supplements. It is also utilized in the manufacture of printing inks and pigments, glass products, pottery glazing, and as a fertilizer in agriculture. The demand across these industries drives the growth of the global market.
APAC is estimated to contribute 55% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
For more insights on the market share of various regions Request Free Sample
One of the key reasons for the growth in the region is due to the high demand due to its increasing use in applications, including industrial cleaning, personal care, cosmetics, pharmaceuticals, chemical intermediates, agrochemicals, dyes, inks, and pigments. Factors such as the rising awareness about personal hygiene with the increasing number of government initiatives and campaigns, and the rapid growth of the pharmaceutical and food industries in APAC are driving the demand in the region during the forecast period.
Potassium hydroxide, also called caustic potash, is an inorganic compound produced by the electrolysis of potassium chloride using membrane cell technology. In this report, the market size was estimated based on the revenue generated from the sale of the chemical to end-use industries.
The market is driven by its versatile applications in various industries. This inorganic compound with the formula KOH, also known as lye, potash lye, or caustic potash, is produced through a reaction between potassium carbonate and calcium hydroxide in a salt metathesis reaction, resulting in solid calcium carbonate and a solution of potassium hydroxide in water. It is available in various forms including white to slightly yellow lumps, pellets, flakes, and rods. It is used in chemical manufacturing, petroleum refining, soft soap making, and in the food industry as a thickening agent and pH control agent. It is also essential in the fertilizer industry and finds applications in pharmaceuticals, electronics, agriculture, and glass manufacturing, contributing to the growth of the market. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers, trends, and challenges will help companies refine their marketing strategies to gain a competitive advantage.
One of the key factors driving the market growth is the growing demand for potassium carbonate. One of the main uses of KOH is as a raw material or chemical intermediate in the production of various end-use products in industries like detergents, glass, cosmetics, food, pharmaceuticals, and agriculture. The market is experiencing growth, driven significantly by increasing demand from the glass industry. Furthermore, the global preference for automatic washing machines has been fueling the demand for liquid laundry detergents, which in turn drives the market demand. This trend is particularly notable in industries such as chemical manufacturing, petroleum refining, food & beverages, pharmaceuticals, electronics, agriculture, and glass. The diverse range of applications is expected to propel the growth of the KOH market in the forecast period.
A key factor shaping the market growth is capacity expansions and new plants. Due to the growing demand for caustic potash-based consumer products, potassium salts, pharmaceuticals, and household cleaning products, the global market has been witnessing expansion in production capacities.
As a result, the markets in North America, APAC, and Europe have developed rapidly due to the continuous expansion of production capacities. For instance, in February 2018, Akzo Nobel and Evonik Industries began production using membrane electrolysis technology at their new joint venture (JV) plant in Ibbenburen, Germany. Hence, the rapid development and expansion of the capacity of plants are expected to significantly drive the market growth during the forecast period.
The presence of less expensive substitutes is one of the key challenges hindering growth. One of the key challenges faced by the market is from less expensive substitutes, including sodium hydroxide and calcium hydroxide. For instance, sodium hydroxide pellets are a less expensive substitute that is widely used as a replacement as they give good results with less quantity of catalyst.
Sodium hydroxide is less expensive than caustic potash as the cost of sodium hydroxide production (from sodium chloride, common salt, which is inexpensive) can be around 1/3 of the cost of its production. As a result, manufacturers tend to prefer sodium hydroxide over caustic potash as it is cheaper, and often a lesser quantity of sodium hydroxide serves the purpose. Hence, such factors are expected to hinder the market during the forecast period.
Companies are implementing various strategies by analyzing factors such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product or service launches, to enhance their presence in the market.
AGC Inc: The company offers potassium hydroxide such as flemion which is a fluorinated ion and it exchanges membranes for the production of caustic soda and caustic potash that achieves substantial energy savings.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Airedale Chemical Co. Ltd., Albemarle Corp., Altair Chimica S.p.A., American Elements, Ercros SA, Gujarat Alkalies and Chemicals Ltd., Haifa Negev technologies Ltd., HAINAN HUARONG CHEMICAL CO. LTD., ICL, INEOS Group Holdings SA, Merck KGaA, Nike Chemical India., Occidental Petroleum Corp., Olin Corp., RAG Stiftung, Superior Plus Corp., Tessenderlo Group NV, UNID Co. Ltd., and Vynova Beek BV
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The report forecasts market growth by revenue at global, regional & country levels and provides a market research report analysis of the latest trends and growth opportunities from 2017 to 2027.
Potassium hydroxide, commonly known as caustic potash, is a versatile compound with various industrial applications. It is available in different forms including White to slightly yellow lumps, pellets, flakes, rods, as well as liquids. Industries such as the cosmetic and personal care industry utilize potassium hydroxide for its thickening properties in products. In the electronic industry, it is used in the manufacturing of semiconductors. Despite its utility, potassium hydroxide is non-combustible but corrosive and has a low melting point. Its applications extend to the medical industry, where it is used in cancer treatment, specifically in prostate cancer, thyroid cancer, and bladder cancer therapies. They also find use in the metallurgical industry, glass making, and even fireworks manufacturing due to their properties.
The market is experiencing significant growth driven by various factors. Industries such as cosmetic and personal care are witnessing an increase in the Demand of cosmetic products, where it is used for thickening. However, this growth is accompanied by stringent government regulations due to the compound's corrosive nature. In addition, the market is influenced by the demand for methanol, ethanol, and glycerin, which are raw materials for production. Industries like manufacturing also contribute to the market, utilizing them in various processes. Furthermore, they play a role in dental care products and as a corrosion inhibitor in the aluminum industry.
Market Scope |
|
Report Coverage |
Details |
Page number |
174 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3.19% |
Market growth 2023-2027 |
USD 1.10 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
2.84 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 55% |
Key countries |
US, China, Japan, Germany, and Italy |
Competitive landscape |
Leading companies, Market Positioning of companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
AGC Inc., Airedale Chemical Co. Ltd., Albemarle Corp., Altair Chimica S.p.A., American Elements, Ercros SA, Gujarat Alkalies and Chemicals Ltd., Haifa Negev technologies Ltd., HAINAN HUARONG CHEMICAL CO. LTD., ICL, INEOS Group Holdings SA, Merck KGaA, Nike Chemical India., Occidental Petroleum Corp., Olin Corp., RAG Stiftung, Superior Plus Corp., Tessenderlo Group NV, UNID Co. Ltd., and Vynova Beek BV |
Market dynamics |
Parent market analysis, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.