Potassium Carbonate Market Analysis 2024: China's Potassium Carbonate Accounts for 43.29% of the Global Market

China Report Hall Network News, Potassium carbonate is an important industrial raw material and chemical, widely used in glass manufacturing and chemical and food processing fields. The market demand of potassium carbonate has been increasing in recent years, and the overall price of domestic potassium carbonate market is developing in a downward trend. The following is an analysis of the potassium carbonate market in 2024. 

1) Potassium Carbonate Market Situation

Potassium carbonate can be divided into two major categories: heavy potassium carbonate and light potassium carbonate. In 2022, the global potash market will reach 3.779 billion yuan (RMB), and China potash market will account for 43.29% of the global market. In-depth Research Report on Operation Status and Investment Planning of Potassium Carbonate Industry in China (2024-2029) predicts that by 2028, the global potassium carbonate market will reach 4,018 million yuan, and the cagr from 2022 to 2028 will be 1.03.

The global potash market is expanding, with annual sales of around $ 6 billion at present, and will continue to grow at a corresponding rate in the next few years. With the increase of population and the improvement of living standards, the direct impact of agricultural demand and population growth on potassium carbonate demand will gradually increase. Judging from the current market structure, the demand for potassium carbonate in Asia is the highest, accounting for 46.8% of the market share, followed by the North America and Europe, accounting for 23.5% and 22.1% of the market share respectively.

The price of potassium carbonate is influenced by many factors, including production costs, market supply and demand, raw material prices and international market prices. According to the latest data, in May 2024, the market price of potassium carbonate in China was between 0.07 million yuan/ton and 0.73 million yuan/ton, down by 106.4% year-on-year, but it was higher than the previous month. This shows that the market price of potassium carbonate fluctuates, but the overall trend is downward. Analysis of Potassium Carbonate Market in Rainy Season the change of potassium carbonate price in the future will be influenced by many factors such as market supply and demand, raw material prices and international market prices.

The competition mode of the potassium carbonate market is characterized by diversity. In the domestic market, there are a large number of potassium carbonate production enterprises, but relatively few have the advantages of technology and scale. These enterprises compete fiercely in technology research and development, product innovation, market channels, etc., in order to improve market share and profitability. There are also some competition in the international market. UNID of South Korea, Armand Products of the United States and other major global potash producers have strong influence in the international market. These enterprises have occupied a certain share in the global market by virtue of their advanced technology and scale advantages. 

2) Potassium carbonate market demand

Potassium carbonate is used as an important fluxing agent in glass manufacturing, which helps to reduce the melting temperature of glass and improving its transparency and optical properties. Therefore, there is a very stable and continuous demand for potassium carbonate in the glass industry. Potassium carbonate is widely used as a potassium source of nitrogen, phosphorus and potassium fertilizer in agriculture to improve crop yield and quality. Especially in areas with high sodium soils, potassium carbonate is used to supplement the potassium in the soil and promote the growth of crops.

According to the market analysis of potassium carbonate, potassium carbonate is used as an intermediate in other chemicals in chemical industry, such as synthesizing various chemicals, surfactants and detergents. It is also used in industrial applications, such as pH regulator and desulfurizing agents. In the food industry, potassium carbonate is used as an alkaline regulator to adjust and control the pH value of food, and also in some reaction processes in food processing. Potassium carbonate is gradually used in electronic materials, such as electronic glasses, melting agents of electronic materials and other special chemicals.

Generally speaking, the market demand for potassium carbonate is relatively stable and extensive, because it is widely used in many industries, such as glass, fertilizer, chemicals industry, food processing and electronic materials. With the development of technology and markets in various industries, the demand of potassium carbonate may increase or change.