Potassium is the third major plant and crop nutrient after nitrogen and phosphorus. Potash is important for agriculture because it improves water retention, yield, nutrient value, taste, color, texture and disease resistance of food crops. It has wide application to fruit and vegetables, rice, wheat and other grains, sugar, corn, soybeans, palm oil and cotton, all of which benefit from the nutrient’s quality-enhancing properties.
Market Analysis and Insights: Global Potash Fertilizers Market
Due to the COVID-19 pandemic, the global Potash Fertilizers market size is estimated to be worth US$ 1811.1 million in 2022 and is forecast to a readjusted size of US$ 2226.3 million by 2028 with a CAGR of 3.5% during the forecast period 2022-2028. Fully considering the economic change by this health crisis, Potassium Chloride accounting for % of the Potash Fertilizers global market in 2021, is projected to value US$ million by 2028, growing at a revised % CAGR from 2022 to 2028. While Cereals & Grains segment is altered to an % CAGR throughout this forecast period.
Asia Pacific accounted for the largest market share in 2017; this can be attributed to the high population in the region leading to an increased demand for food grains and growth in awareness among farmers about the efficient use of land through fertilizers. Asia Pacific is projected to be the fastest-growing region from 2018 to 2023 due to increase in consumption of vegetable crops that require potash fertilizers for maintaining their potassium content, which also fuels the growth of the potassium fertilizers market in the region.
Global Potash Fertilizers Market: Drivers and Restrains
The research report has incorporated the analysis of different factors that augment the market’s growth. It constitutes trends, restraints, and drivers that transform the market in either a positive or negative manner. This section also provides the scope of different segments and applications that can potentially influence the market in the future. The detailed information is based on current trends and historic milestones. This section also provides an analysis of the volume of production about the global market and about each type from 2017 to 2028. This section mentions the volume of production by region from 2017 to 2028. Pricing analysis is included in the report according to each type from the year 2017 to 2028, manufacturer from 2017 to 2022, region from 2017 to 2022, and global price from 2017 to 2028.
A thorough evaluation of the restrains included in the report portrays the contrast to drivers and gives room for strategic planning. Factors that overshadow the market growth are pivotal as they can be understood to devise different bends for getting hold of the lucrative opportunities that are present in the ever-growing market. Additionally, insights into market expert’s opinions have been taken to understand the market better.
Global Potash Fertilizers Market: Segment Analysis
The research report includes specific segments by region (country), by manufacturers, by Type and by Application. Each type provides information about the production during the forecast period of 2017 to 2028. by Application segment also provides consumption during the forecast period of 2017 to 2028. Understanding the segments helps in identifying the importance of different factors that aid the market growth.
Segment by Type
Potassium Chloride
Sulfate of Potash (SOP)
Potassium Nitrate
Others
Segment by Application
Cereals & Grains
Oilseeds & Pulses
Fruits & Vegetables
Others
By Company
Yara International
Nutrien
Potash Corporation of Saskatchewan
Eurochem Group
Mosaic Company
JSC Belaruskali
Helm
Israel Chemicals
SQM
Borealis
Sinofert
K+S Aktiengesellschaft
Production by Region
North America
Europe
China
Japan
Consumption by Region
North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Russia
Asia-Pacific
China
Japan
South Korea
India
Australia
Taiwan
Indonesia
Thailand
Malaysia
Philippines
Vietnam
Latin America
Mexico
Brazil
Argentina