Global Potassium Chlorate Market 2019-2023
Global Potassium Chlorate Market: About this market
Potassium chlorate is an inorganic chemical compound, which is used in the manufacturing of explosives and matchsticks. Technavio’s potassium chlorate market analysis considers sales from the explosives and matchstick manufacturing and other segments. Our analysis also considers the sales of potassium chlorate in APAC, Europe, MEA, North America, and South America. In 2018, the explosives and matchstick manufacturing segment held the highest market share, which is expected to remain prevalent over the forecast period. Factors such as the extensive use of explosives in the mining industry and the rising production of matchsticks across the world will significantly help the explosives and matchstick manufacturing segment in maintaining its leading market position. Also, our global potassium chlorate report has observed market growth factors such as increasing demand for potassium chlorate from end-user industries, rising demand for potassium chlorate in APAC, and availability of raw materials. However, the presence of a large number of substitutes for potassium chlorate, health hazards associated with potassium chlorate, and fluctuating raw material prices may hamper the growth of the potassium chlorate industry over the forecast period.
Global Potassium chlorate Market: Overview
Increasing demand for potassium chlorate from end-user industries
Potassium chlorate is recording extensive use in manufacturing pesticides, explosives, oxygen in laboratories, and others. Therefore, vendors have been making significant sales to agricultural, explosives, fireworks, and disinfectant industries and laboratories. In the explosives industry, potassium chlorate is proven to be more effective than gunpowder. Therefore, the increasing demand for potassium chlorate from end-user industries will lead to the expansion of the global potassium chlorate market at a CAGR of almost 4% during the forecast period.
Growth of pulp and paper industry
The pulp and paper industry extensively uses potassium chlorate to produce chlorine oxide, which is used to bleach wood pulp to manufacture high-quality and environmentally friendly white paper products. Therefore, the pulp and paper industry will increase sales for market vendors. As a result, this trend will have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global potassium chlorate market during the forecast period 2019-2023, click here.
With the presence of several major players, the global potassium chlorate market is fragmented. Technavio’s robust vendor analysis is designed to help clients in improving their market positions, and in line with this, this report provides a detailed analysis of several leading potassium chlorate manufacturers, which include Chenzhou Chenxi Metals Co. Ltd., Merck KGaA, Nouryon Chemicals Holding BV, Pangea Chemicals Pvt. Ltd., and Sandvik AB.
Also, the potassium chlorate market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
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