According to the latest report by IMARC Group, titled “Caustic Potash Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the market size reached 2.4 Million Tons in 2018. Caustic potash, also known as potassium hydroxide (KOH) or potash lye, is an alkaline compound produced by the electrolysis of the brine prepared from potassium chloride and water. It is white in color, highly reactive, corrosive, and non-volatile and non-flammable at room temperature. Over time, caustic potash has emerged as an essential industrial chemical across the globe and is widely used as a cleaning agent and sanitizer in wineries, mainly to clean the biofilms of bacteria and yeast inside the tanks.
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Global Caustic Potash Market Trends:
Caustic potash finds application in the manufacturing of numerous products ranging from food additives to soaps and detergents, and agrochemicals to alkaline batteries. In the food industry, it is used as a stabilizer, thickening agent and pH adjuster. Apart from this, it is widely utilized in wet mount preparation of various clinical specimens for microscopic visualization of fungi and fungal elements in skin, hair, nails and vaginal secretions. Topical KOH solution is also considered safe and effective in the treatment of warts. Besides this, there has been a rise in the demand for caustic potash in the agriculture industry as KOH-based fertilizers are extensively being utilized to increase crop yield and improve productivity. Owing to these factors, the market volume is projected to exceed 3 Million Tons by 2024, at a projected CAGR of 4.1% over the forecast period (2019-2024).
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Market Summary:
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