Potassium Hydroxide De-icers Increasingly Used for Safe Air Travel

Manufacturers in the potassium derivatives market are tapping into new incremental opportunities, one of them being increasing the availability of potassium-based de-icers that are used to ensure safe air travel. Potassium chloride is anticipated to dominate the market in terms of both, value and volume, during the forecast period, and de-icing serves as one of the important sources of revenue for manufacturers in the potassium derivatives market.

Stakeholders in the air travel landscape are increasingly using potassium-based de-icers to minimize the risk aircraft sliding off the taxiway. Thus, the de-icing technique is crucial to ensure passenger and crew safety in regions that have extreme cold temperatures. However, de-icers contain chemicals that may be harmful for the environment. Hence, manufacturers are developing de-icers made from potassium hydroxide that are as effective as conventional potassium de-icers, and help reduce the environmental impact. This is evident, as potassium hydroxide is projected to account for the second-highest revenue amongst all potassium compounds in the potassium derivatives market, with an estimated value of ~US$ 2.8 billion by 2027.

potassium derivatives market infographic

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Potassium Sulfate Fertilizers Support Global Demand for Premium Food Products

Manufacturers in the potassium derivatives market hold an important position in the eyes of stakeholders in the agricultural value chain. The global agricultural output of grains accounted for a production yield of ~2,600 million metric tons in 2017. Hence, there is growing demand for effective fertilizers that comply with food safety norms in the agricultural space. Manufacturers in the potassium derivatives market are innovating new potash sulfate fertilizers with the help of the sea water technology. They are increasing their capabilities in the mass-scale production of fertilizers, using this technology. Fertilizers developed from the sea water technology are complementing the abundant cultivation of crops rich in carbohydrates.

Since developing fertilizers from muriate of potash (MOP) is comparatively less expensive than sulfate of potash (SOP), manufacturers in the potassium derivatives market are capitalizing on this trend. As such, they are utilizing SOP, since it contains premium potash and does not contain chloride. Thus, SOP-based fertilizers are being increasingly used for the cultivation of fruits, vegetables, tobacco, tree crops, and nuts.

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Although potassium sulfate is projected to account for the fifth-largest revenue share in the potassium derivatives market by the end of 2027, its advantages are well-received by stakeholders in the agricultural value chain. For instance, SOP-based fertilizers are ideal for use in arid regions and salty or sandy soils. They add value for farmers, since these fertilizers help improve the shelf-life of food products, and this supports the worldwide demand for premium-quality products.

Food Manufacturers Teaming Up with Stakeholders in Potassium Derivatives Market

Regulations pertaining to salt and sodium content in food are surfacing in some parts of the world. Though food manufacturers are taking conscious efforts to replace sodium in salt, they are facing certain challenges in the food manufacturing landscape.

After several research attempts, it has been found that, potassium chloride serves as an effective alternative to sodium in salt. Hence, manufacturers in the potassium derivatives market are increasing their focus on meeting the demands of food manufacturers. The increasing application of potassium chloride in various end uses has triggered market growth. Potassium chloride is projected to continue to gain prominence in the potassium derivatives market throughout the forecast period, with an estimated production output of ~40,000 kilo tons by the end of 2027.

Food manufacturers are increasingly using potassium chloride to replace sodium in salts after the introduction of updates in previous food regulations. Even the FDA is encouraging food manufacturers to use mineral salts containing potassium chloride to reduce sodium intake and lower the risk of blood pressure amongst consumers. However, if not utilized judiciously, potassium chloride can lead to severely impaired kidney functioning as well as decreased blood pressure, independent of sodium intake. Hence, food manufacturers are maintaining the right ratio of sodium and potassium during the manufacturing process of food products. They are focusing more on complying with the regulations and less on enhancing the taste of the food products.

potassium derivatives market segmentation

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Analysts’ Viewpoint

Apart from de-icers, potassium hydroxide and potassium carbonate are being increasingly used for the development of electrolytes in batteries. As such, potassium-based graphite dual-ion batteries are posing a threat to lithium-ion batteries.

Manufacturers in the potassium derivatives market should focus on untapped opportunities in Latin America and Europe. However, the global market is highly consolidated. Also, the market is challenged by other limitations such as health complications resulting from high concentration of potassium chloride through intravenous injections. Hence, manufacturers should increase the availability of pre-diluted formulations, and encourage health commissions to implement standardized prescription norms for dosage purposes. They should focus on developing improved fertilizers, since agriculture is one of the key end use industries for manufacturers in the potassium derivatives landscape. 

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Potassium Derivatives Market: Description

  • The global potassium derivatives market was valued at ~US$ 12 Bn in 2018 and is projected to expand at a CAGR of ~4% over the forecast period, to reach ~US$ 18 Bn by the year 2027.
  • Potassium derivatives include various potassium compounds such as potassium chloride, potassium hydroxide, potassium sulfate, potassium schoenite, potassium carbonate, potassium nitrate, potassium bicarbonate, and potassium permanganate. Major potassium derivatives originate from the electrolysis process of potassium chloride.
  • Rise in global population, increase in the consumption of high-protein products that require fertilizer-intensive grains, greater crop requirements for biofuel production, and decrease in arable land are compelling farmers to improve crop yield, thus providing lucrative opportunities for the fertilizers industry. This rise in demand for fertilizers in the agricultural sector is expected to drive the global potassium derivatives market.

Key Growth Driver of Potassium Derivatives Market

  • According to the World Health Organization (WHO), food availability is one of the major aspects of food security. Food availability refers to the sufficient supply of food on a consistent basis in each country. Rapid expansion in population has increased food security concerns. Underdeveloped and developing countries still lack proper infrastructure for the storage and distribution of food grains and edible agriculture produce. Nitrogen, phosphorous, and potassium are basic nutrients required by plants. Potassium is a vital ingredient for plant health. Adequate amount of potassium in the soil is necessary to maintain good plant growth. Thus, increasing food security concerns are driving the growth of the global potassium derivatives market. 

 Major Challenge for Potassium Derivatives Market

  • Bio-based agrochemicals are derived from naturally-occurring materials such as organisms, plants, or mineral oils. They help enhance agricultural yield without adversely impacting the environment.
  • Key agrochemical manufacturers are shifting their focus toward product innovation and development of bio-based agrochemicals such as bio-pesticides, bio-fertilizers, and plant growth regulator (PPIs). Increase in the demand for bio-based agrochemicals is hampering the growth of the potassium derivatives market.

Lucrative Opportunity for Global Potassium Derivatives Market

  • The demand for potassium derivatives has been rising for the manufacture of pharmaceutical products, owing to their vast benefits and increasing need to attain economies of scale. Ongoing research & development activities in the pharmaceutical industry and advancements in the medical industry are anticipated to offer lucrative opportunities for potassium derivatives, primarily potassium chloride and potassium hydroxide, which are employed in the manufacture of medicines.

 Asia Pacific to Dominate Potassium Derivatives Market

  • In terms of demand, Asia Pacific dominated the global potassium derivatives market in 2018. The demand for potassium derivatives has been rising in Asia Pacific in order to improve agricultural production. This is boosting the demand for potassium derivatives. Modern agricultural practices are used to achieve higher yield. Potassium derivatives such as potassium chloride are the most common potassium sources used in agriculture.
  • The Middle East & Africa has saline soil. The region is often exposed to drought, leading to poor condition of the soil. However, countries in the region have taken initiatives to improve the soil. Potassium sulfate, a potassium derivative, is used to supply potassium to the soil in the region, which helps increase the yield of dry soil. In turn, this is propelling the potassium derivatives market in the Middle East & Africa. 

Potassium Chloride to Account for Prominent Share of Potassium Derivatives Market

  • Potassium chloride is a widely used potassium chloride due to the relatively low cost and higher amount of potassium than most other sources. Potassium chloride is frequently referred to as muriate of potash or MOP. Potassium chloride is a commonly used potassium derivative in agriculture. It is an excellent source of potassium, which aids healthy plant growth and disease resistance. Potassium helps regulate plant metabolism and affects water pressure regulation inside and outside of plant cells.  

Popularity of Pellets/Granules Form

  • In terms of volume, the pellets/granules segment held a major share of the global potassium derivatives market in 2018. Potassium chloride is available as a white, granular powder or colorless crystals. It is freely soluble in water and insoluble in alcohol. As a straight fertilizer, it is usually granulated; however, some amount of potassium chloride is marketed in the powdered form. 

Leading Players Actively Engage in Joint Ventures and R&D Activities in Potassium Derivatives Market

  • The global potassium chloride market, is consolidated; around 65% market share is held by the leading five key players: Israel Chemicals, Nutrein, K+S Group, Uralkali, and Arab Potash.
  • Key players operating in the global potassium hydroxide market include Unit Co Ltd, Occidental Chemical Corporation, Superior Plus Corp, Erco Worldwide INC, and Ashta Chemicals.
  • The global potassium sulfate market is moderately fragmented. Top players such as SDIC, K+S KALI, Tessenderlo, Qing Shang Chemical, and Great Salt Lake Mineral account for a major share of the market.
  • In 2018, Evonik Industries AG and AkzoNobel Specialty Chemicals started the production of chlorine and potassium hydroxide at their new joint venture in Ibbenbüren, Germany. Electrolysis technology is used to produce up to 120,000 metric tons of potassium hydroxide and 75,000 metric tons of chlorine at the plant. Evonik Industries AG is expected to market potassium hydroxide from the facility, and convert part of the output into other products such as potassium bicarbonate, potassium carbonate, and potassium formate, at its Lülsdorf site. This move is anticipated to strengthen the company’s position in the potassium derivatives market.
  • In 2018, Vynova Group started a new production facility for the manufacture of potassium hydroxide (KOH) in Tessenderlo (Belgium). The facility works on the membrane electrolysis technology. The opening of this new production facility increased the company’s production capacity. This is estimated to enable the company to cater to the rising demand for potassium derivatives efficiently.

Potassium Derivatives Market: Scope of the Report

TMR’s recent publication on the potassium derivatives market provides audiences with an overall market outlook, with the help of comprehensive assessment of the global market scenario. TMR’s study on the potassium derivatives market analyzes the industry with respect to the historical and current market scenario, which offers a forecast for the period of 2019 to 2027.

Report readers are able to make important decisions pertaining to their business with a wealth of information and exclusive potassium derivatives market insights enclosed in the study. The potassium derivatives market report also provides an in-depth understanding of the key industry trends and developments made by companies. This TMR report is divided into different sections that allow readers to gain an individual understanding of the potassium derivatives market.

Key Queries Addressed in the Report

  • How much revenue is the potassium derivatives market expected to generate by the end of the forecast period?
  • Which type of potassium derivative is likely to generate the highest revenue by 2027?
  • What are the key growth indicators and market dynamics that are expected to drive the potassium derivatives market in the next five years?
  • Which regions are estimated to provide lucrative opportunities for the potassium derivatives market?
  • What are the essential strategies incorporated by key potassium derivatives market players in an attempt to expand their geographical presence?

The first section in the TMR report on the potassium derivatives market begins with a premise that includes the report scope, market segmentation, and research highlights. This is followed by the executive summary that emphasizes the potassium derivatives market aspects covered in the study. This section provides a brief understanding of the market elements, and enables readers to understand the aspects covered in the study. The report also includes market dynamics that offer an understanding of the market drivers, restraints, and opportunities.

The next section includes an extensive segmentation analysis of the potassium derivatives market. This evaluation includes the division of the potassium derivatives market segments based on product and its application, form, and region. Furthermore, an analysis of these key segments, year-on-year growth projections, and basis point share analysis are included in the report. These help readers identify promising market growth areas.

The TMR study on the potassium derivatives market offers an assessment of the geographical landscape of the market. The regional study helps market competitors make important decisions pertaining to their business. Individualized, country-wise, and segment-wise analysis pertaining to individual regions helps readers decipher the potential of the market in various geographies. Supported by year-on-year growth projections, and global value and volume share, this section is a vital part of the report.

The study on the potassium derivatives market offers a holistic competitive value judgment, with the details of leading and emerging market players. The dashboard view of the competitors in the potassium derivatives market report allows readers to understand their business and strategies, along with their performance.

Research Methodology

The TMR report on the potassium derivatives market is based on detailed estimation of the market, with the inclusion of comprehensive primary and secondary research inputs. Detailed investigation of the potassium derivatives market in terms of competitive scenario is supported by an individual-level examination of different avenues related to the industry. Furthermore, for secondary research, analysts scrutinized numerous annual report publications, white papers, industry association publications, and company websites to obtain the necessary understanding of the potassium derivatives market. This helps TMR’s analysts derive crucial predictions and forecast analysis of the potassium derivatives market. Readers can access the potassium derivatives market study to gain a forecasted market analysis for the period of 2019 to 2027.

Potassium Derivatives Market: Segmentation

Product and its Application

Potassium Chloride

  • Fertilizers
  • Pharmaceuticals
  • Industrial
  • Aquaculture
  • Others (De-icing)

Potassium Hydroxide

  • Potassium Carbonate
  • Other Potassium Salts
  • Pharmaceuticals
  • Soaps & Detergents
  • Chemical Manufacturing
  • Fertilizers
  • Petroleum Refining
  • Others (pH Balancing Agents and Electrolytes in Batteries)

Potassium Sulfate

  • Fruits
  • Vegetables
  • Tree Nuts
  • Tobacco
  • Others (Glass Manufacturing, Tea, Horticultural Plants, Dry Soils, and Salty Soils)

Potassium Schoenite

  • Fertilizers
  • Others (Aquaculture)

Potassium Carbonate

  • Video Glass
  • Specialty Glass & Ceramics
  • Glass Treatment
  • Food & Pharmaceuticals
  • Rubber Chemicals
  • Photographic Chemicals
  • Potassium Silicates
  • Others (pH Balancing Agents, Fire suppressants, Welding, Animal Feed, and Potassium Bicarbonate)

Others (Potassium Nitrate, Potassium Bicarbonate, and Potassium Permanganate)

Form

Powder

Flakes

Pellets/Granules

Liquid

Region

North America

South America

Asia Pacific

Europe

Middle East & Africa