According to ChemAnalyst report, “Caustic Potash Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End Use, Sales Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2035”, Global Caustic Potash demand valued at around 2.8 million tonnes as of 2021, and the market is anticipated to grow at a CAGR of 4% by 2035. Caustic potash demand is propelled by the major end-user such as fertilizer, soap & detergent, chemical industry, etc and the market is expected to escalate in the upcoming period. Caustic Potash is produced in line with the safety requirements on human health and the environment before being released onto the market, which further improves the standard compliance.
Caustic Potash, chemically referred to as Potassium Hydroxide (KOH), is an inorganic compound, that is available in several forms including pellets, flakes, crystals, powder, and aqueous. The KOF aqueous known as Lye or Potash Lye which is used to produce chlorine and hydrogen (formed as co-products). Caustic Potash appears to be white, clear colourless liquid or slightly yellow lumps, possessing strong base (alkali), corrosive to metals and tissue, and found to be non-combustible and get dissolves easily in water with discharge of much heat. Generally, KOH is manufactured by the electrolysis of a potassium chloride (KCl) solution by using membrane electrolytic cells process.
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Caustic Potash has gained attention in various grades including food grade, automotive, pharmaceutical grade, agricultural grade, technical grade, etc. Potassium Hydroxide possess a wide range of applications such as fertilizer production, soaps and detergents, potassium chemical industries, alkaline battery manufacturing, potassium phosphate chemicals, paints, biodiesel preparation, rubber preparation, etc. KOH is also essential in petroleum refining, runway de-icing and useful in pH balancing. It is similar to and just as effective as caustic soda or sodium hydroxide (NaOH), which is the most commonly used in cleaning agent and fertilizer. KOH is utilized as dehydrating agent for drying gases, lubricant in the extrusion pressing of high melting alloys, methylating agent, alkaline builder in detergent formulations, etc. In agricultural sector, KOH-based fertilizer is extensively used to improve drought tolerance of the crops, crop yield and enhance the productivity. In food industry, Caustic Potash act as a food thickening, food additives and pH control agent. The FDA considers it to be risk-free product due to which it is used in the chocolate, wine preservation and pharmaceutical industry. Potassium Hydroxide is gaining popularity with rising demand of potassium-based chemicals for instance potassium carbonate, potassium phosphates, potassium soaps, potassium acetate, etc. In addition, KOH is a versatile cleaning agent used in the formulation of personal care products such as liquid lotions, soaps, hairsprays, and shampoos, and as a strong base, it reacts with grease, making it a useful ingredient in drain and oven cleaners as well as in non-phosphate detergents. Due to these factors Caustic potash demand is anticipated to escalate in the market globally.
Taking into consideration, KOH is more environmentally friendly than NaOH but high-priced. Due to possessing alkaline properties it may cause serious chemical burns on skin and permanent eye damage. KOH can also be corrosive to stainless steel tanks if used in extensive high concentrations.
Due to global pandemic COVID-19, demand of Caustic Potash got decreased as the chlorine derivative demand has limited the supply of caustic soda, a by-product of chlorine. By imposing countryfies lockdowns and social distancing norms by government authority, which led to the decline of sales and demand. However, the market is expected to be recovered and pick of the space eventually.
Among different regions, APAC region hold around 49% of the global consumption of Caustic Potash and the demand is expected to increase in the forecast period owing to population, APAC region construction sector is largest in the world, and it is increasing at a healthy rate which will increase the demand of Caustic Potash. Countries like India and China are making investment in construction sector to develop the economy. Most chlor-alkali production companies are trying to involve the new mercury-free chlor-potash plant to avoid any possible mercury contamination, and from technological point of view, Europe is the most advanced around the world to produce pure potassium derivative. Healthy growth is anticipated for the KOH market in the forecast year propel by the rising need to increase crop productivity to feed the expanding global population that is urging demand for KOH-based fertilizers.
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Caustic Potash Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, Application, End Use, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2035”, some of the major players operating in Caustic Potash market include Gujarat Alkalies and Chemical Limited, The Andhra Sugars Limited., TGV SRAAC LIMITED, Meghmani Finechem Ltd. UNID Company Ltd., Chengdu Huarong Chemical Co., Ltd., Tangshan Sunfar Silicon Industries Co.,Ltd., Inner Mongolia Rida Taifeng Chemical Co., Ltd., Asahi Glass Co., Ltd., Altair Chimica S.p.A, INOVYN, Neolyse Ibbenbüren GmbH, Vynova Group, Ercros S.A, and Others.
“Growing demand of Caustic Potash from the major end-use industries including agricultural, chemical, pharmaceutical, and others to manufacture a wide range of products is expected to accelerate the Caustic Potash market across the globe in the next ten years. Rising awareness regarding hygiene in several countries is propelling the demand of Caustic Potash around the world. In India, Initiatives such as Swachh Bharat Abhyan, is taken into consideration in order to promote health and hygiene, which is likely to boost the Caustic Potash market in the future.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm promoting ChemAnalyst worldwide.
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