Growing demand for fertilizers for high crop yield is one of the significant factors influencing the market growth.
Potash Fertilizers Market Size – USD 23.79 Billion in 2019, Market Growth - CAGR of 3.6%, Market Trends – Growing population across the globe
The global Potash Fertilizers Market is expected to reach USD 31.81 Billion by 2027, according to a new report by Reports and Data. Growing demand for potash fertilizers for high crop yield is one of the significant factors influencing the market growth. Fertilizers allow farmers to increase their crop yield by boosting the productivity of the agricultural land, as well as can make an otherwise less productive land produce substantial yields. Fertilizers are formulated to support the yield of certain plants by allowing the plants to absorb the essential macro and micronutrient easily. The worldwide demand for fertilizers has witnessed a decent pace of growth, with the demand being more than 138 million tons in the year 2000 and rose to around 210 million tons in the year 2019.
The growing global population trend indicates an increasing demand for food, which is likely to increase in the range of 59.0% to 98.0% by 2050, and in turn, would drive the demand for potash for the production of fertilizers. Potash comprises of soluble potassium, which is a vital constituent in agricultural fertilizer. Potash fertilizer is beneficial in providing proper plant maturation by promoting disease resistance, root strength, and yield rates, among others. Additionally, potash helps in the development of a better yield by enhancing the texture, color, and flavor.
Key participants include The Mosaic Company, Helm AG, Agrium Inc., JSC Belaruskali, Israel Chemicals Ltd., Eurochem Group AG, Borealis AG, Potash Corporation of Saskatchewan Inc., Yara International ASA, and Sociedad Química Y Minera De Chile S.A. (SQM), among others.
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Further key findings from the report suggest
By product type, potassium chloride contributed to the largest market size in 2019. Potassium chloride contains a high proportion of potassium, which is beneficial in promoting healthy plant growth and imparting disease resistance. Further, it helps in providing strength to stem and formation of fruits.
By mode of application, foliar is likely to grow at a significant rate of 3.8% in the forecast period. Foliar potash spray is considered advantageous in the case of plants that are deficient of vital nutrients. Foliar plant spray comprises the application of fertilizer directly to the leaves of a plant rather than the soil.
By crop type, cereals & grains held the second-largest market size in 2019 and is likely to grow at a rate of 4.2% in the forecast period. An increase in population and the resulting rise in demand for food materials has resulted in an increase in the demand for potash to improve crop production, thus increasing the demand for fertilizers worldwide.
Europe is likely to grow at a rate of 3.2% in the forecast period. The market dominance of Europe is owing to the presence of leading market players in the region. Also, there is an increased usage of potash fertilizers in Europe for better cereal crop yield.
To identify the key trends in the industry, click on the link below: @ https://www.reportsanddata.com/report-detail/potash-fertilizers-market
For the purpose of this report, Reports and Data have segmented the global potash fertilizers market on the basis of product type, mode of application, crop type, and region:
Product Type Outlook (Volume, Kilo Tons; Revenue, USD Million; 2017-2027)
Potassium Chloride
Potassium Nitrate
Sulfate of Potash
Mode of Application Outlook (Volume, Kilo Tons; Revenue, USD Million; 2017-2027)
Foliar
Broadcasting
Fertigation
Crop Type Outlook (Volume, Kilo Tons; Revenue, USD Million; 2017-2027)
Cereals & Grains
Fruits & Vegetables
Oilseeds & Pulses
Others
Regional Outlook (Volume, Kilo Tons; Revenue, USD Million; 2017-2027)
North America
Europe
Asia Pacific
Latin America
MEA
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Table of Content:
Highlights of the TOC:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Indicative Metrics
Chapter 4. Potash Fertilizers Market Segmentation & Impact Analysis
4.1. Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
4.2.3. Market restraints analysis
4.3. Technological Insights
4.4. Regulatory Framework
4.5. ETOP Analysis
4.6. Porter’s Five Forces Analysis
4.7. Competitive Metric Space Analysis
4.8. Price trend Analysis
4.9. Customer Mapping
Chapter 5. Competitive Landscape
5.1. Market Revenue Share By Manufacturers
5.2. Manufacturing Cost Breakdown Analysis
5.3. Mergers & Acquisitions
5.4. Market positioning
5.5. Strategy Benchmarking
5.6. Vendor Landscape
Continue……
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