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CHEMICALS AND ADVANCED MATERIALS

Potassium Ferrocyanide Market Analysis by Industry Type {Food & Beverages (Seasoning & Condiments, Bakery & Confectionery, Soups & Sauces, and Others), and Personal Care (Detergents, Cosmetics, and Others)}; by Product Type (Ferrous Chloride, Calcium Hydroxide, and Others); and by Application (Wine, Fertilizers Production, and Others) – Global Supply & Demand Analysis & Opportunity Outlook 2022-2031

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • Honeywell International Inc. to states that its UOP’s C3 Oleflex technology will be utilized by PHU My Plastics Production JSC. The technology is to utilize for the production of polymer-grade propylene.
  • INEOS AG to acquire Mitsui Phenols Singapore Ltd. The acquisition added nearly 1 million tonnes of production capacity of acetone, alpha-methylstyrene, cumene, phenol, and bisphenol A per year.

Global Potassium Ferrocyanide Market Size, Forecast, and Trend Highlights Over 2022 - 2031

Base Year

2021

Forecast Year

2022-2031

CAGR

~8%

The global potassium ferrocyanide market is estimated to garner robust revenue by the end of 2031 by growing at a CAGR of ~8% over the forecast period, i.e., 2022 – 2031. Further, the market generated impressive revenue in the year 2021. The growth of the market can primarily be ascribed to rising pigment production. For instance, in 2021, pigment production in India was projected to be nearly 14 thousand metric tons while in 2020, South Korea produced about 100 thousand metric tons.

Potassium-Ferrocyanide-Market

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Potassium ferrocyanide is a potassium salt that is soluble in water and acid but not in alcohol. The other terms to refer to potassium ferrocyanide is potassium hexacyanoferrate and yellow prussiate of potash. Global potassium ferrocyanide market trends such as, the significant requirement of potassium ferrocyanide in the production of detergents and dyes are projected to influence the growth of the market positively over the forecast period. For instance, in the year 2020, the volume of detergent production was projected to be around 1500 thousand metric tons’ in southern Asia. Such factors are anticipated to propel the growth of the market over the forecast period.

Global Potassium Ferrocyanide Market: Growth Drivers and Challenges

Growth Drivers

  • Spiking Utilization in Cosmetics Manufacturing

As of 2022, the revenue generated by the cosmetics segment was estimated to drop to approximately USD 5 billion.

Potassium ferrocyanide has a wide range of uses to offer and one of its significant utilization is associated with cosmetics manufacturing. Potassium ferrocyanide is used in cosmetics since it contains properties such as, antibiotic, anti-allergic, and others. It also helps remove certain skin problems.

  • Higher Demand for Adhesives  

For instance, the demand for adhesives across the globe was estimated to be about 15 million tonnes in 2020.

  • Increment in the Spending on Medicine

In 2021, the spending on medicine in the United States was anticipated to hit around USD 500 billion.

  • Increasing Requirements in Iron & Steel Production

The total production of crude steel across the globe was estimated to be more than 1.5 billion metric tons in 2020.

Challenges

  • Disrupted Supply-Chain due to COVID- 19
  • Requirement for Higher Initial Investment
  • Possibility of Side Effects of Potassium Ferrocyanide

The global potassium ferrocyanide market is segmented and analyzed for demand and supply by industry type into food & beverages and personal care, out of which, the personal care segment is projected to witness noteworthy growth over the forecast period. The growth of the segment can be accounted to the escalated utilization of potassium ferrocyanide in cosmetics manufacturing. For instance, the revenue generated by the personal care segment was projected to be around USD 200 billion in 2022.

Major Macro-Economic Indicators Impacting the Market Growth

Major-Macro-Economic-Indicators-Impacting-the-Market-Growth

The chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, the Chemical industry in the U.S. accounted for 16.43% of manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in the future. According to UNEP (United Nations Environment Programme), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry, which accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favorable government policies have boosted investment in China’s chemical industry. The easy availability of low-cost raw materials & labor, as well as government subsidies and relaxed environmental norms, have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for investment in businesses in Asia Pacific countries in the upcoming years.

Global Potassium Ferrocyanide Market Regional Synopsis

Regionally, the global potassium ferrocyanide market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in Asia Pacific region is projected to hold the largest market share by the end of 2031. The growth of the market in the region is attributed to the rising industrial production in the region. For instance, the industrial production growth rate in India was projected to be nearly 4.5% in 2018 up from around 3% in 2013. Additionally, the presence of major key players in the region and the growing inclination toward personal care is projected to hike the growth of the market over the forecast period.

Potassium-Ferrocyanide-Market-Size

The global potassium ferrocyanide market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global potassium ferrocyanide market includes the following segments:

 

By Industry Type

  • Food & Beverages
  • Seasoning & Condiments
  • Bakery & Confectionery
  • Soups & Sauces
  • Others
  • Personal Care
  • Detergents
  • Cosmetics
  • Others

 

By Product Type

  • Ferrous Chloride
  • Calcium Hydroxide
  • Others

 

By End-User

  • Wine
  • Fertilizers Production
  • Others

Top Featured Companies Dominating the Global Potassium Ferrocyanide Market

  • Dalian Kunlun Chemical Co., Limited

    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Kodia Company Limited
  • HEBEI CHENGXIN CO. LTD., China
  • DALIAN FIRST ORGANIC CHEMICAL CO., LTD
  • Tianjin Jinxi Meihua Chemical Plant
  • Honeywell International Inc.
  • Columbus Chemical Industries, (CCI)
  • Hindustan Chemical Company
  • INEOS AG
  • DuPont de Nemours, Inc.

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