The new report by Expert Market Research titled, ‘Global Potassium Chlorate Market Size, Share, Price, Trends, Growth, Report and Forecast 2023-2028’, gives an in-depth analysis of the global potassium chlorate market, assessing the market based on its segments like application and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 5%
Potassium chlorate is utilized for producing chlorine oxide, used for the purpose of bleaching in the pulp and paper industry. The growing paper and pulp industry is anticipated to support the growth of potassium chlorate in the forecast period 2023-2028. Additionally, due to its cost-effectiveness and convenient availability, potassium chlorate witnesses high demand from the paper and pulp industry.
Potassium Chlorate Industry Definition and Major Segments
Potassium chlorate is a chemical compound that usually occurs as a white or colourless, crystalline, water-soluble solid. It is the most popular commercial use of chlorate and is primarily used as an oxidizing agent as it readily reacts with compounds of sulphur, carbon, phosphorus, and organic matter.
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On the basis of application, the market is segmented into:
- Explosives and Matchstick Manufacturing
- Others
The major regional markets include:
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East and Africa
Potassium Chlorate Market Trends
A variety of industries find application of potassium chlorate which is supporting its market growth. Increasing focus on defence and security, worldwide, is leading to heightened demand for explosives in this sector. The growing demand for smoke grenades is also propelling the market for potassium chlorate. Other factors that are catering to the demand of potassium chlorate include, rising use of pesticides and its utilization in laboratories and educational institutions to produce oxygen. It is also used in manufacturing chlorine, a potent disinfectant, generally used to kill disease-causing bacteria, virus, protozoa, and odour-causing compounds in drinking water.
Key Market Players
The major players in the market are Chenzhou Chenxi Metal Co. Ltd., Merck KGaA, Nouryon Chemicals Holding BV, Pangea Chemicals Pvt. Ltd., Sandvik AB, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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