Potash Fertilizers Market Overview
The global potash fertilizers market, as per a report by Market Research Future (MRFR) is touted to register a CAGR of 4.56%, surpassing a valuation of USD 28.00 billion during the forecast period (2023-2030).
Potash deficiency in cereal crops is likely to encourage the potash fertilizers market across the globe. Cereals and grains demand high dosage of potassium. As potassium is an element, which moves quickly within the tissues of a plant, the deficiency is noticed in the older leaves. For instance, the margins of older leaves in rice converts to dark or yellowish-brown and necrotic spots appear on older leaves. Defective nodal tissues and poor root development are also noticed underneath the soil. Potassium deficiency is also detected in most soils, especially across developing markets. Such factors are estimated to encourage the potash fertilizers market size across the globe.
The demand for potassium fertilizers is predicted to increase due to growing consumption of food, the need to maintain a healthy and clean lifestyle, and ever-increasing population. These fertilizers are also highly used to improve crop growth by offering essential nutrition content. The need to provide strengthening nutrients in order to protect plants from harmful pathogens, which decreases soil fertility and crop yield will influence the market growth across the globe.
Competitive Dashboard
The top players operating in the potash fertilizers market include Yara International ASA (Norway), Agrium Inc. (Canada), JSC Belaruskali (Republic of Belarus), The Mosaic Company (US), Borealis AG (Austria), Eurochem Group AG (Switzerland), Sinofert Holdings Limited (China), HELM AG (Germany), Nutrien (Canada), Israel Chemicals Ltd. (Israel), SQM S.A. (Chile), and K+S Aktiengesellschaft (Germany).
Regional Frontiers
Geographically, the potash fertilizers market research spans across Asia Pacific, Europe, North America, and the Rest of the World (RoW).
Considering the global scenario, the Asia Pacific is likely to dominate the global potash fertilizers market, mainly due to the surging importance of agriculture in the region. The increased dependency on agricultural produce in order to meet the ever-rising demand for food is driving the regional market. In this region, China, India, and Japan are considered the prominent country-level markets are influencing the growth in the review period. Potash fertilizers are extensively used in vegetable cultivation as it helps to maintain the potassium content in the vegetables. This is further estimated to support the market growth in the APAC.
Meanwhile, Europe registers the highest market share, with economies like Belgium and Ireland contributing to the market growth. The sudden increase in the manufacturing capacities of existing chemical plants, coupled with the surging demand for potash as an alternative raw material in the dye and textile industries during cleansing processes will encourage the adoption of potash fertilizers in Europe.
Segmental Analysis
The global potash fertilizers market has been segmented on the basis of type, form, mode of application, and crop type.
By type, the potash fertilizers market is segmented into potassium chlorides, potassium nitrates, potassium sulfates, and others. Of these, potassium chlorides will gain prominence and are majorly used as a source of potassium for crops. It plays a vital role in increasing vitamin C, protein, and soluble content in fruits. It helps to enhance flavor and fruit color, reduces the prevalence of diseases and pests, and improves the quality of shipping and storage. Such factors are likely to encourage the market growth in the segment.
By form, the potash fertilizers market is segregated into liquid and solid.
The application segment comprises fertigation, foliar, and broadcasting.
Considering the crop type, the market is classified into cereals grains, pulses oilseeds, fruits vegetables, and others. Of these, the segment for cereals grains is predicted to gain prominence as they are extensively grown crops in most of the regions and are considered the staple food across the globe.
Read More Blogs:
Specialty Fertilizers Market information: by type (nitrogen fertilizers, phosphate fertilizers, potash fertilizers, and others) crop type (cereals oilseeds, fruits vegetables, turf ornamentals, and others), and region Forecast till 2030
Complex Fertilizers Market Research Report Information By Type (Complete Complex Fertilizers and Incomplete Complex Fertilizers), By Form (Granular and Liquid), By Mode of Application (Foliar and Fertigation), By Crop Type (Oilseeds Pulses, Cereals, and Fruits Vegetables), And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) Market Forecast Till 2030
NPK Fertilizers Market Research Report Information By Crop Type (Cereals Grains, Oilseeds Pulses, Fruits Vegetables, and Others), By Mode of Application (Fertigation, Foliar, and Others), By Form (Dry and Liquid), and By Region (North America, Europe, Asia-Pacific, And Rest Of The World) Market Forecast Till 2030
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