Global Potassium Acetate Market Has Reached 72793 MT In 2017
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There are many potassium acetate manufactures in USA, Europe and China, and global potassium acetate market has reached 72793 MT in 2017 from 65973 MT in 2013. The CAGR is about 2.49% in 2013-2017. Niacet is the global leader in Europe, with 8.95% of the global potassium acetate production. Cryotech and Hawkins are leading manufacturers in USA. Market in China is more separated, compared with USA and Europe. Potassium acetate product is usually sold in aqueous solution and powder form. USA and Canada are the main import regions of potassium acetate. China and Europe are the main export areas of potassium acetate.
The production of potassium acetate in China is mainly concentrated in Jiangsu Province. For production, production amount of potassium acetate in China has reached 23102 MT by the end of year 2017. For demand market of potassium acetate, there is also a certain space in the next few years. China is the main export area, where potassium acetate is mainly exported to USA.
Potassium acetate is used in a wide variety of industrial applications. The major uses are in the production of catalyst, oil drilling, pharma & food and deicing, etc. Deicing is the main application of potassium acetate, accounting 64.52% of the global consumption, while deicing is the major application of potassium acetate in North America.
Due to the impact of raw material prices, prices of potassium acetate keep decreasing, although during this period increased slightly, but still it can’t change the overall downward trend in prices, the average price in globe from 2213 USD / MT in 2013 reduced to 2117 USD / MT in 2017.
In the next few years, due to the gradual recovery of the global economy, the downstream market demand will grow slowly. Consequently, we believe the world production of potassium acetate in the coming years will reach 56365 MT in 2024. Although sales of potassium acetate brought a lot of opportunity, the study group recommends the new entrants just having money but without technical advantage and downstream support do not enter into the potassium acetate field.