Potassium Tert-butoxide Market - Forecast(2023 - 2028)

Potassium Tert-butoxide Market Overview

The potassium tert-butoxide market size is estimated to reach US$25.6 billion by 2027, after growing at a CAGR of around 6.5% from 2022 to 2027. The potassium tert-butoxide is a strong alkoxide and non-nucleophilic base. It is used as an intermediate in various modern organic syntheses. It is majorly used in the dehydrohalogenation reactions, catalyzes the heterocyclic and hydrosilanes compound for deriving the silyl derivatives, and others. The potassium tert-butoxide has solubility in diethyl ether, hexane, toluene, and others. Moreover, the increasing demand for potassium tert-butoxide for application as catalysts, synthesis, and others in chemicals is creating a drive in the potassium tert-butoxide market. The extensive application in agricultural, pharmaceutical, food and other end-use industries will offer major growth in the market during the forecast period.

COVID-19 Impact

The potassium tert-butoxide industry was majorly affected by the global disruptions in the covid-19 outbreak. The potassium tert-butoxide has major applications in the agriculture sector, chemical, and others. The chemical sector saw a major fall in the pandemic. The shrink in demand, production halts, unavailability of raw material, and other lockdown restrictions led to a fall in the growth in the outbreak. The shutdown in various chemical processing plants and hamper affected the demand in the chemical industry. According to the European Chemical Industry Council (CEFIC), the global chemical sales declined by 4.3% in 2020. The fall in demand for chemical led to a decline in applications of potassium tert-butoxide in chemical processing, synthesis, and others. Thus, the production disruptions and fall in demand created a slowdown in the growth of potassium tert-butoxide industry in the pandemic.

Report Coverage

The “Potassium Tert-butoxide Market Report– Forecast (2022-2027)” by IndustryARC covers an in-depth analysis of the following segments of the potassium tert-butoxide industry.

By Purity: Below 98%, 98%, and Above 98%
By Form: Solid and Liquid
By Application: Organic Synthesis, Catalysts, Pesticides, Additive, Thin Film Deposition, Anesthetics, and Others
By End Use Industry: Agriculture, Chemical, Healthcare, and Others
By Geography: North America (USA, Canada, and Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia, Belgium, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and New Zealand, Indonesia, Taiwan, Malaysia, and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), Middle East (Saudi Arabia, UAE, Israel, Rest of the Middle East) and Africa (South Africa, Nigeria, Rest of Africa)

Key Takeaways

• The potassium tert-butoxide market is expected to register significant growth, owing to its rising demand for various applications in chemical, food, agricultural, and others during the forecast period.
• The Asia Pacific is the fastest-growing region in the potassium tert-butoxide industry owing to major development and expansion in chemical organic synthesis, agricultural production, food sector, and others in this region, thereby offering major growth in the market.
• The rise in the application of potassium tert-butoxide for chemical organic synthesis, hydrohalogenation reactions, and others in the chemical industry is creating major growth for the global potassium tert-butoxide market.

Figure: Asia Pacific Potassium Tert-butoxide Market Revenue, 2021-2027 (US$ Billion)

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Potassium Tert-butoxide Market Segment Analysis – By Application

By application, the organic synthesis segment accounted for the largest share in the potassium tert-butoxide market and is expected to grow with a CAGR of around 7.4% during the forecast period. The rising usage of potassium t-butoxide in the organic chemistry for synthesis and various chemical reactions is boosting the growth of the market. The potassium tert-butoxide is a strong base and is majorly used in organic synthesis and dehydrohalogenation reactions. Furthermore, the demand for potassium tert-butoxide in tetrahydrofuran for potassiooxamethylpyridine catalysts and the organic synthesis process to produce various organic compounds in the chemical sector is propelling the growth in the market. According to the India Brand Equity Foundation (IBEF), the chemical industry in India stood at US$178 billion in 2019 and is expected to reach US$ 304 billion by 2025. Thus, with the major demand for potassium tert-butoxide in the organic synthesis and various chemical reactions, the global potassium tert-butoxide market will grow during the forecast period.

Potassium Tert-butoxide Market Segment Analysis – By End-Use Industry

By end-use industry, the chemical segment held the largest potassium tert-butoxide market share and is expected to grow with a CAGR of over 6.1% during the forecast period. The increasing growth of potassium tert-butoxide in the chemical industry is due to its growing application in organic synthesis, dehydrohalogenation reactions, catalysis, polymer processing, and others. It is used as an alkoxide base reagent and in catalysts preparation. It is also used to form the alkenes in the eliminated reactions. Furthermore, the growth of synthesis or production of various chemical compounds is boosting the demand for potassium tert-butoxide in the chemical industry. According to the American Chemistry Council (ACC), the total chemical exports in the U.S accounted for 9.2% of all the goods exported in the U.S. The rising production and processing activities in the chemical industry are propelling the rise in the application of potassium tert-butoxide, thereby offering major growth. Thus, with high demand in the chemical industry, the potassium tert-butoxide market will grow during the forecast period.

Potassium Tert-butoxide Market Segment Analysis – By Geography

By geography, the Asia Pacific is the fastest-growing region in the potassium tert-butoxide market and is expected to grow with a CAGR of around 7.9% during the forecast period. The high demand for potassium tert-butoxide in this region is influenced by growing end-use industries such as chemical, healthcare, agriculture, food, and others. The major demand for potassium tert-butoxide in the agricultural sector owing to its application in chemical pesticides is offering major growth opportunities. Moreover, rising agriculture production and advancement in APAC are propelling the demand for potassium tert-butoxide. According to the World Bank data, the value added by the agriculture, forestry, and fishing sector in China accounted for 7.65% of the GDP in 2020. Furthermore, the rise in chemical processing and production plants is leading to a major expansion of the potassium tert-butoxide industry. Thus, with major development in the end-use industries and growing demand for potassium tert-butoxide in APAC, the potassium tert-butoxide industry will grow rapidly during the forecast period.

Potassium Tert-butoxide Market Drivers

Increasing application in the healthcare sector

The potassium tert-butoxide has major demand in the healthcare and pharmaceutical sector. It is widely used in the preparation of pharmaceutical drugs and chemicals, anesthetics, and others. Moreover, the development in medicinal chemistry is propelling the demand for potassium tert-butoxide. The development of drug discovery and chemical compounds for drug usage is offering high demand for potassium tert-butoxide. According to the Organization for Economic Co-operation and Development (OECD), global health spending resulted in a 9.9% share in the GDP for the year 2020. Thus, the major growth in pharmaceutical and healthcare technology is driving the potassium tert-butoxide industry and offering major growth opportunities in the market.

High demand in the agriculture industry

The demand for potassium tert-butoxide in the agriculture sector is growing. The potassium tert-butoxide has major usage in pesticide chemicals, herbicides, and others. It is also used as an additive with fertilizers. The rise in agricultural production and the requirement for chemical pesticides to protect the agricultural yield from pests and diseases is propelling the demand for potassium tert-butoxide. According to the United States Department of Agriculture (USDA), the agricultural, food, and related industries contributed around USD 1.05 trillion to the U.S. GDP in 2020. The growth in the agricultural sector and rising food production is driving the potassium tert-butoxide market owing to its rising application in fertilizers, pest control chemicals, and others. Thus, with the high demand for potassium tert-butoxide in the agricultural sector, the potassium tert-butoxide industry experience major demand and growth opportunities in the market.

Potassium Tert-butoxide Market Challenges

Health hazards and stability complications

The potassium tert-butoxide has major application across various end-use industries. However, the potassium tert-butoxide is sensitive and flammable in the air and creates hazardous damage and health effects. It causes eye damage and skin burns, and other toxic effects. This is hindering growth opportunities and creating a challenge in the global potassium tert-butoxide industry. The issues such as self-heating and production of hazardous combustion products draw the need for secure handling and storage systems. Thus, the instability and hazardous effects of potassium tert-butoxide create a major challenge and growth slowdown in the market.

Potassium Tert-butoxide Industry Outlook

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Potassium tert-butoxide market. The potassium tert-butoxide top 10 companies include:

1. GenChem
2. Evonik
3. Albermarle
4. Callery
5. Shandong Xisace New Material
6. Suparna Chemicals
7. TCI Chemicals
8. SimSon Pharma Ltd.
9. Sigma Aldrich
10. Oakwood Products, Inc.

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