Global Potash Fertilizer Market was valued US$ XX Bn in 2019 and is expected to grow US$ XX Bn by 2027, at a CAGR of 4.5% during the forecast period.
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Potash is a type of salt that is a potassium-based product, mainly used as a fertilizer to boost water retention in plants. Fertilizer is applied to soils to supply plant nutrients necessary for the healthy growth of plants.
Potash fertilizer is used in a variety of foods and chloride-loving crops include sugar beet, fodder beet, celery, asparagus, and Swiss chard, and other plants that are flexible to chloride. Potash fertilizer delivers immunity to plants against different diseases. Farmers use Sulfate of potash (SOP) and muriate of potash (MOP) to grow crops.
The food consumption with increased population & the need to uphold a healthy lifestyle and more crops, such as plantation & gardening crops are fertilized using potash fertilizers are the key factors which act as a driver for the growth of the potash fertilizer market. Change in farming technology has led to the acceptance of new farming and safe agriculture serves as an opportunity for the growth of the potash fertilizer market in the years to come.
The demand for high-efficiency fertilizers together with the demanding applicability of potash fertilizers are the foremost factors expected to boost the growth of the global potash fertilizer market in the future. The increasing number of R&D activities for the development of new potash fertilizers and the adoption of up-to-date farming practices are some factors expected to fuel the growth of the global potash fertilizers market in the years to come.
Nevertheless, stringent government regulation for the approval of potash fertilizers and price fluctuation, the demand for potash fertilizer has declined is expected to hinder the growth of the potash fertilizer market over the estimated period. Also, rising trends in the direction of organic farming is another factor estimated to limit the growth of the global potash fertilizer market in the future.
Region-wise, the European market held the largest market share of the global potash fertilizer market in 2019, in terms of revenue owing to the implementation of advanced farming technologies in the region. North America expected to hold the second-largest market share contribution to the global potash fertilizer market, followed by the Asia Pacific market in the future. TheAsia Pacific is expected to register the highest CAGR during the forecast period thanks to the rising demand for potash fertilizers in countries, like India and China, and the demand for potash fertilizers for the production of fruits & vegetables are the factors expected to drive the growth of the potash fertilizer market in the region.
The objective of the report is to present a comprehensive analysis of the Global Potash Fertilizer Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Potash Fertilizer Market dynamics, structure by analyzing the market segments and project the Global Potash Fertilizer Market size. Clear representation of competitive analysis of key players by type, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Potash Fertilizer Market make the report investor’s guide.
Scope of the Global Potash Fertilizer Market
Global Potash Fertilizer Market, By Type
• Potassium chloride
• Sulfate of Potash (SOP)
• Potassium nitrate
Global Potash Fertilizer Market, By Crop Type
• Cereals & grains
• Oilseeds & pulses
o Others (Peas and palm oil)
• Fruits & vegetables
o Others (Brassica and berry )
• Others (Sugarcane, sugar beet, and fiber crops)
Global Potash Fertilizer Market, By Application Method
Global Potash Fertilizer Market, By Form
Global Potash Fertilizer Market, By Region
• North America
• Asia Pacific
• Middle East & Africa
• South America
Key players operating in the Global Potash Fertilizer Market
• Yara International ASA
• Agrium Inc.
• Potashcorp Corporation of Saskatchewan Inc.
• EuroChem Group AG
• The Mosaic Company
• JSC Belaruskali
• HELM AG
• Israel Chemicals Ltd.
• Sociedad Química y Minera de Chile (Chile) S.A
• Borealis AG
• Sinofert Holdings Limited
• K+S AKTIENGESELLSCHAFT
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