Global Industrial Grade Potassium Chloride Market, 2014-2024: By Type (Particle, Powder, and Crystal), and By Application (Electrolysis, Paints & Pigments, Electroplating, Metal, Oil & Gas, and Others)
Industrial grade potassium chloride is one of the grade of potassium chloride. It is a potassium salt and an inorganic chloride. It is odorless and appears as white colorless cubic crystals and has strong saline taste. Industrial grade potassium chloride is freely soluble in water and insoluble in ethanol .It can be obtained from ancient dried lake deposits.
Industrial grade potassium chloride can be classified as based on appearance into particle, crystal and powder. It has wide are of end use industry application included electrolysis, paints and pigments, electroplating, metal, oil and gas, and others. It is also used as a chemical feedstock and used for producing potassium hydroxide and potassium metal. It finds application in medicine, scientific applications, lethal injections, food soaps, processing, and as a sodium free substitute for table salt. Industrial grade potassium chloride compounds widely used in the manufacture of dyes and pigments. It also found application as an additive in drilling fluids for the oil and gas industry. It is considered an effective clay or shale stabilizer in water sensitive formations. It is used in the industry as the raw material to manufacture potassium metal and can be used in the calibration of radiation monitoring equipment's as a source for beta radiation.
The global industrial grade potassium chloride research report sheds light on the market circumstances by carrying out primary and secondary research for more than 320 hours. As per the report, the global industrial grade potassium chloride market is growing at a fast pace and increasing its geographical footprint rapidly. The global industrial grade potassium chloride market is valued at US $ xxx million dollars in 2019 which is forecast to grow at CAGR of xx% and reach a massive US $ xxx million dollars by the end of 2024 in value.
The growth is comparatively higher in APAC region due to rising demand from end use industry. The major growth driver for industrial grade potassium chloride market is huge demand from paint and pigment industry due to rising building and construction development in the region. The rising expansion metal industries create the huge demand of industrial grade potassium chloride is expected to drive the market globally. The rising consumption in oil and gas industry for drilling fluids is expected to drive the Industrial grade potassium chloride market globally.
The raw material price volatility is the major impediments to the global industrial grade potassium chloride market growth.
Industrial grade potassium chloride enjoy wide usage across all major regions in the world including Europe, APAC, North America, Middle East, Africa, and South America. These regions serve large number of manufacturers and supplier and are hence responsible for the growth of industrial grade potassium chloride market globally. The companies that lead global market are, K + S, Ako Kasei, Parchem, SQM, Belaruskali, Vynova, ICL (ICL-IP), FInOrIC, Mosaic, Anmol Chemicals Group, Muby Chemicals, and Surya Fine Chem.
The research process includes the market segmentation of the global industrial grade potassium chloride market, identifying the growth determinants of every market segment and market forecasts. All the market forecasts are done in accordance with the inputs taken from the global industrial grade potassium chloride market industry experts from across the global industry. Market Krystal conducts more than 40 interview hours dedicated for this study, the same are mentioned below: