Global Potash Ore Market was valued US$ XX Mn. in 2019 and is expected to grow around US$ XX Mn. by 2027, at a CAGR of XX% during the forecast period.
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Potash ore is the primary source for manufacturing potash, which is used in chemicals and fertilizers. Usually, it consists of potassium chloride, sodium chloride, silicate anhydrate, and carbonate. Potash ore is processed with numerous methods including chemical processes with hot leaching, and mechanical methods, like floatation. In the chemical method, potash ore is processed by hot leaching, followed by crystallization potash salts from unsaturated salt brines. This method is dependent upon physiochemical properties of potassium chloride, sodium chloride, & water, and used for manufacturing potassium compounds in granular and white crystalline form. Also, in the floatation method halite and sylvite surfaces are moistened with water by the addition of acting chemicals namely surfactants. Potash finds major applications in the fertilizer industry as potassium the third major plant and crop nutrient after phosphorus and nitrogen. As elemental potassium is not available in nature, because of its violent reactive nature with water, potash ores have high demand.
Global potash ores market size is expected to increase during the forecast period (2019-2027), thanks to the demand for potassium from several industries around the world. Because of the demand for organic food and the growing population around the world, the fertilizer industry is expected to support the growth of the market in the future. Potash is an important nutrient for crops, which improves the yield and quality. Hence, this is expected to drive the market growth. Sodium chloride has witnessed increasing demand from the chemical industry for the production of caustic soda, sodium chloride, etc. Moreover, it is also used for the product in fish preservation.
Introducing new products and services along with other strategic alliances by the market key player will create a productive demand for this market. For example, as per the company’s news release in January 2018, PotashCorp and Agrium announced the merger and formed a new company known as Nutrien. The formation of a new company will enable a new market position with an expandable product portfolio. Also, increasing the use of potash mobilizing bio-fertilizers is expected to pose excellent growth opportunities for market players.
On the other hand, increasing health concerns about the consumption of potash fertilizers are expected to restrain the global potash ores market growth. Also, fluctuating prices of potassium chloride are expected to hinder the market growth during the forecast period.
By product type, the potassium chloride segment is expected to dominate the market owing to its use in the production of fertilizers. Huge demand for food and the cultivation of fruits and plants can fuel the segment growth till 2023. On the other hand, sodium chloride is set to expand at a rapid pace due to its use in the making of chemicals such as sodium chlorite, caustic soda, and others.
Global Potash Ore Market1
Region-wise, North America is expected to hold the largest market share of the global market by 2027, thanks to the utilization of potash ore in agriculture, metallurgy, and chemical sectors. The demand for organic food and in other end-use industries can act as a catalyst for the market in the region. Canada, the U.S., and Mexico are the main contributors to the region.
APAC can grow at a rapid pace, because of the rising investments by end-use industries in the region. An increase in disposable income levels, demand for organic food, and a large population are factors driving the regional market growth.
Europe is witnessed to experience a significant growth rate, attributable to the demand for organically grown vegetables & fruits and the emergence of organic food stores. Technological breakthroughs in fertilizer formulations can drive market growth. France, Germany, Italy, and the U.K. are the biggest contributors to the regional potash ore market.
The objective of the report is to present a comprehensive analysis of the Global Potash Ore 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 Ore Market dynamics, structure by analyzing the market segments and project the Global Potash Ore 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 Ore Market make the report investor’s guide.
Scope of the Global Potash Ore Market
Global Potash Ore Market, By Product Type
• Potassium Chloride
• Sodium Chloride
Global Potash Ore Market, By Application
Global Potash Ore Market, By Region
• North America
• Asia Pacific
• Middle East & Africa
• South America
Key players operating in the Global Potash Ore Market
• Agrium Inc.
• BHP Billiton Ltd.
• Elementals Minerals Limited
• Encanto Potash Corp.
• Intrepid Potash
• K+S GmbH
• Mining Associates
• Nutrien Ltd.
• JSC Belaruskali
• Kore Potash Limited
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