According to ChemAnalyst report, “India Potassium Carbonate Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Company Share, Foreign Trade, FY2015-FY2030”, The India Potassium Carbonate Market is likely to grow at a CAGR of 5.28% during the forecasted period by FY2030. The end-use industries like Glass Industry, Fertilizer industry, Rubber Chemicals, and Pesticide Industry are anticipated to accelerate the Potassium Carbonate Market in India in the forthcoming years.
Potassium Carbonate is an inorganic compound which is a salt of potassium with chemical formula K2CO3. It is a white salt that creates a strongly alkaline solution and is soluble in water but insoluble in ethanol. When potassium hydroxide absorbent reacts with carbon dioxide, potassium carbonate can be produced as a byproduct. Potassium Carbonate comes under the category of bulk chemicals and fertilizers is mainly manufactured by Bertrams, Switzerland process technology, with Caustic Potash as a raw material. Among the many uses for potassium carbonate are the production of chemical compounds, fertilizers, soaps, and heat-resistant glass. Moreover, it goes into the production of pigments and printing inks. The production of glass is one of the main industries in which this substance is used. Potassium carbonate is also used to make cathode rays, television tubes, and optical lenses. This substance is a stabilizing ingredient used in a number of winemaking procedures. Potassium Carbonate is also employed to extinguish fires.
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Potassium Carbonate has been widely employed in the glass industry. With the fast-paced urbanization and increase in construction of building and public infrastructure across the nation, the demand for glass and ceramics is anticipated to rise and fuel the potassium carbonate market. Glass also finds applications in other industries as well as such as automotives and electronic goods, which contribute finely to the market. Other major applications for potassium carbonate are in agriculture. It aids in plant growth and helps the soil stay moist and porous by absorbing water from the atmosphere. With fast-paced urbanization and reduction in cultivable land, it becomes a challenge to fulfil the crop demand of the rising population. Potash is used by farmers to fortify plant stems and roots and increase crop yield, which further augments the India Potassium Carbonate market.
The India Potassium Carbonate Market is segmented based on end-use, sales channel, and region. Based on end-use, the India Potassium Carbonate market is segregated into Glass Industry, Fertilizer industry, Rubber Chemicals, Pesticide Industry, and Others. Among these, Glass Industry is dominating the Potassium Carbonate market. This segment held roughly 60% of the Potassium Carbonate market in FY2022. Potassium Carbonate finds use in the glass industry to manufacture TV Picture Tubes, Ophthalmic glasses, and GLS lamps.
Based on region, the India Potassium Carbonate Market is segregated into North, South, East, and West. In the historic period of FY2015-FY2022, West India has been dominating the market. West India has been the dominating in the consumption of Potassium Carbonate for a variety of uses due to the presence of major glass and plasticizer industries located in West India.
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“India Potassium Carbonate Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Company Share, Foreign Trade, FY2015-FY2030” Domestic players in the India Potassium Carbonate market are Gujarat Alkalis and Chemicals Limited (GACL) and Andhra Sugars Limited. Other global platers in the Potassium Carbonate market are Evonik Industries AG, Zhejiang Dayang Biology Technology Co.,Ltd., UNID, Armand Products, Hebei Xinji Chemical Group Co.,Ltd, Zhejiang Juhua Co., Ltd., and Others.
“The rapidly increasing demand of Potassium Carbonate to manufacture glass and ceramics for applications in various downstream industries such as construction, automotives, electronics, etc, in anticipated to boost the India Potassium Carbonate Market in the forecast period until FY2030. Additionally, it is predicted that throughout the projection period, the market would be further influenced by growing demand for Potassium Carbonate in the fertilizer industry, to narrow the demand-supply gap of crops across the nation. “Said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm promoting ChemAnalyst worldwide.
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