Rise in Demand for Explosives in Defense Industry Expected to Drive World 99.8% Potaium Chlorate Market over the Forecast Period: Ken Research
99.8% potassium chlorate is a white crystalline or powder high-purity potassium chlorate substance. Its molecular formula is KClO3. It generally occurs as a white color or colorless, water-soluble and crystalline solid. It is a strong oxidant and reacts easily with carbon, phosphorous, sulfur, and organic compounds. It is insoluble in water. It is produced commercially by passing chlorine into hot milk of lime and consequently adding potassium chloride. Furthermore, it can be manufactured in small quantities by passing chlorine gas into the hot solution of caustic potash. It is used as an ingredient in smoke compositions for instance smoke grenades. It is also used in educational institutions and laboratories to generate oxygen gas. It is used as a pesticide owing to its weed killer applications. It is used in chemical oxygen generators which are used as oxygen supply systems of aircraft, space stations, and submarines. It displays effective antimicrobial properties due to its chemical nature. Potassium chlorate is used in making potent disinfectants and used to treat drinking water from pathogens. In addition, it is used as a basic raw material for safety match work industries and as a whitening agent in the textile industry. Furthermore, it can be mixed with an appropriate fuel to form a short-tempered material called sprengel explosive.
According to study, “World 99.8% Potaium Chlorate Market Research Report 2024(Covering USA, Europe, China, Japan, SEA and India)” the key companies operating in the world 99.8% potaium chlorate market are Akzo Nobel, Vaighai Agro, First Chemical, Hua’nan Inorganic Salt, Dow Chemical, Mitsubishi Chemical, E. I. du Pont de Nemours and Company, TCI Chemicals, ChemTik, Target Molecule Corp, AA BLOCKS, TimTec, AK Scientific (AKSCI), Sigma-Aldrich, APIChem-Research Chemicals BASF SE, LG Chem, Mitsui Chemicals, Sumitomo Chemical, Eastman Chemical Company, Toray Industries, Evonik Industries. Key manufacturers are adopting eco-friendly technologies to increase their production efficiency.
Based on type, 99.8% potaium chlorate market is segmented into 98% and 99%. Based on method type, market is segmented into electrolytic method and double decomposition method. Based on application, market is segmented into disinfectants, explosives, bleaches, medical, match and others. In addition, based on end-use, market is segmented into pharmacy industry, manufacture industry and food industry.
The 99.8% potaium chlorate market is driven by rise in use of potassium chlorate-based pesticides, followed by increase in demand for explosives in the defense industry, rise in number of sodium chlorate plants, increase in availability of raw materials, growth in demand from pulp & paper industry, increase in production of matchsticks, rise in end user industries, and reduction in arable land. However, strict government regulations, health hazards associated with potassium chlorate and availability of substitutes may impact the market. Moreover, increase in number of sodium chlorate plants is a key trend for market.
Based on geography, USA country holds major share in 99.8% potaium chlorate market owing to rise in environmental concerns in the country. Europe, China & India are expected to witness higher growth rate due to growth of defense & pesticide industries and rise in population over the forecast period. It is anticipated that future of the market will be bright on account of rapid economic growth and rise in pesticide industries during the forecast period.
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Ankur Gupta, Head Marketing & Communications