Global Potassium Bicarbonate Market Growth 2023-2029

Global Potassium Bicarbonate Market Growth 2023-2029

Product Code:450674

Published Date: Feb 08,2023

Pages: 90

Region: Global

Category: Chemical & Material

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1. The global potassium bicarbonate production market was 101509 MT in 2016. Forecasts suggest the market to grow at a CAGR of 5.68% through to 2023, driven primarily by Asia and especially China. The region is poised to dominate both the production and consumption of potassium bicarbonate in the years to come. Overall, the potassium bicarbonate products performance is positive with the global economic recovery.

2. The technical barriers of potassium bicarbonate are not high, resulting in numerous manufacturing enterprises. In potassium bicarbonate market, there are several relatively larger companies across the globe, such as Shandong Lunan Chemical, Evonik, Wentong Potassium Salt Group, Baoding Runfeng and Armand Products. And their plants mainly distribute in USA, Germany and China. 
3. Potassium bicarbonate has a wide range of application in the Chemical Industry, Agriculture, Food, Pharmaceutical Industry and Extinguishing Agent Affected by downstream industries, demand for Potassium bicarbonate is expected to continue increasing during the remaining years of the forecast period of 2017-2023. Potassium bicarbonate industry will usher in a stable growth space. 
4. Over the forecast period to 2023 world consumption is expected to continue to increase, but at a slower growth rate of about 5.34% per year. The largest part of demand growth will be in Asian markets; accordingly, companies like Shandong Lunan Chemical and Evonik have reacted by investing in additional capacity in the region, mostly for specialty products.

LPI (LP Information)' newest research report, the “Potassium Bicarbonate Industry Forecast” looks at past sales and reviews total world Potassium Bicarbonate sales in 2022, providing a comprehensive analysis by region and market sector of projected Potassium Bicarbonate sales for 2023 through 2029. With Potassium Bicarbonate sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Potassium Bicarbonate industry.

This Insight Report provides a comprehensive analysis of the global Potassium Bicarbonate landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Potassium Bicarbonate portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global Potassium Bicarbonate market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Potassium Bicarbonate and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Potassium Bicarbonate.

The global Potassium Bicarbonate market size is projected to grow from US$ 136 million in 2022 to US$ 175.8 million in 2029; it is expected to grow at a CAGR of 175.8 from 2023 to 2029.

The technical barriers of potassium bicarbonate are not high, resulting in numerous manufacturing enterprises. In potassium bicarbonate market, there are several relatively larger companies across the globe, such as Shandong Lunan Chemical, Evonik, Wentong Potassium Salt Group, Baoding Runfeng and Armand Products. And their plants mainly distribute in USA, Germany and China. They totally got 80% market shares.

China is the largest consumption place, with a consumption market share nearly 54%. Following China, Europe is the second largest consumption place with the consumption market share of 26%.

This report presents a comprehensive overview, market shares, and growth opportunities of Potassium Bicarbonate market by product type, application, key manufacturers and key regions and countries.

Market Segmentation:
Segmentation by type
    Food Grade
    Pharmaceutical Grade
    Industrial Grade

Segmentation by application
    Chemical Industry
    Agriculture
    Food
    Pharmaceutical Industry
    Extinguishing Agent
    Others

This report also splits the market by region:
    Americas
        United States
        Canada
        Mexico
        Brazil
    APAC
        China
        Japan
        Korea
        Southeast Asia
        India
        Australia
    Europe
        Germany
        France
        UK
        Italy
        Russia
    Middle East & Africa
        Egypt
        South Africa
        Israel
        Turkey
        GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
    Shandong Lunan Chemical
    Evonik
    Wentong Potassium Salt Group
    Baoding Runfeng
    Armand Products
    Hebei Xinji Chemical Group
    Shanxi Wencheng Chemical
    Toagosei Group
    Shijiazhuang Runhong Technology

Key Questions Addressed in this Report
What is the 10-year outlook for the global Potassium Bicarbonate market?
What factors are driving Potassium Bicarbonate market growth, globally and by region?
Which technologies are poised for the fastest growth by market and region?
How do Potassium Bicarbonate market opportunities vary by end market size?
How does Potassium Bicarbonate break out type, application?
What are the influences of COVID-19 and Russia-Ukraine war?