HS Code:
Potassium carbonates (HS Code: 283640) include compounds such as potassium carbonate and potassium bicarbonate, widely used in industries like agriculture (as fertilizers), glass manufacturing, soap production, and as a buffering agent in pharmaceuticals. This category plays a critical role in chemical processes and industrial applications globally.
Total Trade Volume
USD 450 million
Data from 2022
Source
United Nations Comtrade Database
Average Rate
5.2%
Highest Rate
12% (imposed by certain developing countries)
Lowest Rate
0% (under free trade agreements like EU-USMCA)
Rising demand in agriculture
Increased use of potassium carbonates as fertilizers due to the push for higher crop yields is driving trade volumes, particularly in Asia-Pacific regions.
2021-2022
Shift toward sustainable production
Manufacturers are adopting greener production methods to comply with environmental regulations, influencing cost structures and trade competitiveness.
2020-2022
Growth in pharmaceutical applications
Potassium bicarbonate's use as a pH buffer in drugs is boosting demand, especially in North America and Europe.
2019-2022
The European Union introduced provisional anti-dumping duties on potassium carbonate imports from China to protect domestic producers from unfairly priced goods.
March 2023
This may lead to a shift in supply chains, with European buyers potentially turning to alternative suppliers in the US or South Korea.
A major US chemical manufacturer announced a new potassium carbonate production facility to meet growing domestic and export demand.
June 2023
This is expected to strengthen the US position as a leading exporter, potentially affecting global price dynamics.
China relaxed export controls on potassium carbonates to stabilize global supply amidst rising fertilizer demand.
September 2023
This could lead to increased trade volumes from China, potentially lowering global prices in the short term.