Potassium Fluotitanate Market - Forecast(2023 - 2028)

Potassium Fluotitanate Market Overview

Potassium Fluotitanate Market size is forecast to reach US$402.5 million by 2027, after growing at a CAGR of 3.2% during 2022-to 2027. Potassium Fluotitanate is a water-insoluble potassium source for use in oxygen-sensitive applications, such as metal production, in the air heated to more than 500 deg c, the gradual oxidation of titanium acid. Potassium Fluotitanate is used in the extraction-refining-processing of metals, electrical-electronics engineering, personal-domestic use, textile processing, and ceramics-glass industries; used as an alloying additive, flame retardant, and flux agent for casting. Potassium Fluotitanate is significant in metal surface treatment and finishing, detergent applications, flame retardant formulations for wool, production of aluminum master alloy, and dental impression molding. The rapid growth of metal production is one of the major drivers of market growth. For instance, according to India Brand Equity Foundation, India has become the 3rd largest steel producer by producing 83.01 million tonnes and was ranked 4th globally in iron ore production by producing 192 million tonnes in 2019.

Covid-19 Impact

The coronavirus disease 2019 (COVID-19) pandemic has plunged the world into an economic crisis vastly different from any in recent memory. The dual health and economic crisis were experienced in 2020, which will require more than monetary policy in the long term. Due to the imposition of lockdowns across different countries, companies are facing severe cash flow issues. Halting or slowing down of manufacturing of, the global potassium fluorinate market, as well as disruptions in the supply chain logistics globally owing to the outbreak of COVID-19, have resulted in reduced demand for potassium fluorinate. Besides, OECD data shows that global GDP decreased by 4.2% in 2020, while it is expected to increase by the same amount in 2021. By late 2021, the global economy is expected to return to pre-coronavirus levels, but this will be an uneven process across different countries.

Report Coverage

The report: “Potassium Fluotitanate Market Report– Forecast (2022-2027)”, by IndustryARC, covers an in-depth analysis of the following segments of the Potassium Fluotitanate Industry.

By Type: 99%, 99.9%, 99.99%, and 99.999%
By Application: Alloying Additive, Flame-Retardant, Flux Agent, Casting Technology, Surface Treatment, Glass Industry, Metal Surface Treatment, Polypropylene Catalyst, Leather and Cotton, Metal Titanium Powder, and Others
By End-Use Industry: Chemical, Aerospace, Medical, Automotive, Cement, Textile, and Others
By Geography: North America (USA, Canada and Mexico), Europe (UK, France, Germany, Italy, Spain, Russia, Netherlands, Belgium, and Rest of Europe), APAC (China, Japan, India, South Korea, Australia, and New Zealand, Indonesia, Taiwan, Malaysia and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, Rest of South America), and Rest of the world (Middle East and Africa)

Key Takeaways

• The North American region dominates the Potassium Fluotitanate Market owing to a rapid increase in the chemical industry.
• Rise in metal production and use of potassium fluotitanate in oral hygiene are the major drivers of the market growth
• The side effect of potassium fluotitanate in human health is hindering the market growth. 

Figure: North America Potassium Fluotitanate Market Revenue, 2021-2027 (US$ Million)

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Potassium Fluotitanate Market Segment Analysis - By Application

The flux agent segments accounted for approximately 16% of the market share in 2021 and are estimated to grow at a 3.5% CAGR during the forecast period. Potassium titanium fluoride is also known as potassium fluotitanate or potassium hexafluorotitanate is a white crystalline powder that is used as a component in fluxing & grain refining agents for aluminum and magnesium and in the manufacture of Titanium metal. Thus, the development in metal production will certainly boost the potassium fluotitanate market, for instance, the U.S. iron and steel industry and aluminum produced goods valued at an estimated US$103 billion in 2019. The U.S. steel industry accounted for 6% of global crude steel production and provided over 95 million short tons of crude steel in 2019.

Potassium Fluotitanate Market Segment Analysis - By Application

The chemical segment accounted for approximately 28% of the market share in 2021 and is estimated to grow at a 3.1% CAGR during the forecast period. The chemical industry has identified metal production as one of the global megatrends, it is focusing on because of a growing world population and increasing wealth. Resulting in an increasing need for raw materials to build infrastructure and produce consumer goods. It is expected that the production of chemical use will grow even faster since the industry deals with lower-grade ores that require a greater amount of chemical processing. Steel and alumina production and conversion costs in India are relatively low. Export opportunities and fast-developing Asian markets are enabled by the city's strategic location. As per the Indian Brand Equity Foundation, a total of 1,229 mines in India are reported as of FY21, of which 545 report metallic minerals and 684 non-metallic minerals.

Potassium Fluotitanate Market Segment Analysis - By Geography

North America had accounted for the largest share of 34% in 2021 and is estimated to grow with a CAGR of 2.6% for the potassium fluotitanate market during the forecast period 2022-2027, followed by Asia-Pacific and Europe. North America is at present the world’s largest regional economy, according to the Queensland government, and will remain a powerful player in the global economy for the imminent future, especially for the development of new technologies and the anticipation of investment capital. The region offers distinct opportunities for different end-use industries including chemical, aerospace, automotive, and others. According to U.S Chemical Industry, the United States is the world’s largest producer of chemicals represents about 24% of the worldwide market, which is valued at US$1.3 trillion. Demand for construction chemicals is driven by the rising trend of sustainable and green infrastructure and thus benefiting from the demand for such chemicals is likely to enhance the potassium fluotitanate market.

Potassium Fluotitanate Market Drivers

Rapid growth in Metal Production

The potassium fluotitanate market is growing due to rapid metal production owing to an increase in demand for services such as metallurgy and process design, analytical services, and so on. The growth of residential and non-residential construction in Southeast Asia and other developing countries is projected to drive the demand for aluminum and copper metal products and is set to drive the market. Moreover, U.S. metal production in 2019 was estimated to be US$28.1 billion almost US$500 million higher than in 2018 and is anticipated to grow in the forecast period. The principal contributors to the total value of metal production in 2019 were gold (32%), copper (28%), iron ore (19%), and zinc (7%). According to World Steel Association, India’s steel production is estimated at 97.5 million tonnes in 2019. With the increase in demand for metals in various countries, it is expected to propel the market growth during the forecast period.

Use of Potassium Fluotitanate in Oral Hygiene

Potassium Fluotitanate is beneficial to teeth because it helps to rebuild the weakened tooth and slow down the loss of minerals from tooth enamel, reverse early signs of tooth decay, and prevent the growth of harmful oral bacteria. When bacteria in the mouth break down sugar and carbs, they produce acids that eat away at the minerals in your tooth enamel. This loss of minerals is called demineralization. Weakened tooth enamel leaves your teeth vulnerable to bacteria that cause cavities. Fluoride helps to remineralize tooth enamel, which can prevent cavities and reverse early signs of tooth decay. According to the Centers for Disease Control and Prevention (CDC)Trusted Source, the average number of missing or decaying teeth in 12-year-old children in the United States dropped by 68 percent from the late 2e010 through the early 2020s. This followed the introduction to, and expansion of, fluoridated water in communities, and the addition of potassium fluotitanate to toothpaste and other dental products. Thus, positively impacting the growth of potassium fluotitanate market

Potassium Fluotitanate Market Challenges

Side effects of Potassium Fluotitanate in Human Health

One of the major drawbacks of potassium fluotitanate is that toxic fluoride gas is released by thermal decomposition. It has a stimulating effect on the skin and mucosa. If the skin and eyes are touched, they should be immediately rinsed with plenty of flowing water. Mixing with oxidant and edible chemicals is strictly prohibited. Potassium Fluotitanate is a toxic chemical poisonous. While fluoride is a naturally occurring compound, it can still cause side effects when consumed in large doses. Since potassium fluotitanate is used as a cleaning agent in water treatment, however in the United States, the amount of fluoride that’s added to water is usually around 0.7 parts per million (ppm), the maximum allowed as of 2019. Thus, the factor might impact the growth rate of potassium fluotitanate market.

Potassium Fluotitanate Industry Outlook

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Potassium Fluotitanate Market. Potassium Fluotitanate Market top 10 companies include:

1. Shangrao Guangfu Pharm-Chem
2. Fujian Zhangping Zhanpeng Chemical
3.  Nantong Jinxing Fluorine Chemical
4. RUGAO ZHONGCHANG CHEMICAL
5. Mintchem Group
6. Madras Fluorine Private Ltd.
7.  WEGO
8. American Elements
9. SB Chemicals
10. REDA Chemicals

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