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Potash Fertilizers Market

Potash Fertilizers Market Analysis By Form (Solid, Liquid), By Product Type (Potassium Chloride, Sulphate of Potash, Potassium Nitrate), By Application Technique (Broadcast, Fertigation, Foliar), By Crop/Application, By Region - Global Insights 2022 to 2032

Analysis of Potash Fertilizers market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more

Potash Fertilizers Market Outlook (2022-2032)

The global potash fertilizers market is valued at US$ 28.9 billion in 2022 and is expected to expand at a CAGR of 5.4% to reach a market valuation of US$ 48.9 billion by the end of 2032.

Increasing demand for cereals & grains is anticipated to drive market growth. Gradual realization of the benefits associated with liquid potash fertilizers will attract more consumers, thereby driving global demand. Emergent demand for various crops across different countries presents lucrative opportunities for manufacturers.

Distributors usually work on high-profit margins and to capture higher market share, prime manufacturers are providing more profitability to third-party suppliers.

Report Attributes

Details

Potash Fertilizers Market Size (2021A)

US$ 27.4 Billion

Estimated Market Value (2022E)

US$ 28.9 Billion

Forecasted Market Value (2032F)

US$ 48.9 Billion

Global Market Growth Rate (2022-2032)

5.4% CAGR

East Asia Market Share (2021)

~30.5%

East Asia Market Growth Rate (2022-2032)

~6.3% CAGR

China Market Growth Rate (2022-2032)

~6.6% CAGR

Market Share of Top 5 Companies

~23.4%

Key Companies Profiled

  • Yara International Asa
  • Agrium Inc.
  • Potash Corporation of Saskatchewan Inc
  • Eurochem Group AG
  • The Mosaic Company
  • JSC Belaruskali
  • Helm AG
  • Israel Chemicals Ltd.
  • Sociedad Química Y Minera De Chile S.A. (SQM)
  • Borealis AG
  • Sinofert Holdings Limited
  • K+S Aktiengesellschaft
  • PJSC Uralkali, Russia
  • Arab Potash Company
  • IMI plc
  • LESER GmbH and Co. KG.
  • Pentair plc
  • The Weir Group PLC
  • Valvitalia Group SpA
  • Velan, Inc.
  • Watts Water Technologies Inc

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Sales Analysis of Potash Fertilizers (2017-2021) Vs. Market Outlook (2022-2032)

Manufacturers have introduced numerous technologies that augment crop yield and proliferate the revenue of farmers, which, in turn, creates more demand for potassium fertilizers. Mainly, organic potash fertilizers improve the quality of soil and provide proper maturation in crops by improving root strength, texture, and creating a better yield.

Natural potassium fertilizers also enhance the plant defence system making them disease-resistant. Liquid potash fertilizers provide excellent cell wall thickness and strengthen the stem, which allows plants to withstand harsh environmental conditions.

  • Short Term (2022 Q2 to 2025): Enhancing soil fertility with minimum operating cost to act as the perfect catalyst for the growth of soluble potash fertilizers.
  • Medium Term (2025-2028): East Asia and South Asia & Oceania anticipated to witness high potash fertilizer demand due to rising demand for food in these regions, coupled with favorable government initiatives.
  • Long Term (2028-2032): Manufacturers investing heavily in the agriculture sector and governments are also launching various schemes that will benefit existing companies in terms of revenue and market expansion.

Over the 2017-2021 historical period, the global potash fertilizers market registered a CAGR of 3.9%, and according to Fact.MR, a market research and competitive intelligence provider, the market is projected to exhibit growth at 5.4% CAGR between 2022 and 2032.

Potash fertilizers market forecast by Fact.MR

Market share analysis of potash fertilizers based on form and region is provided in a nutshell in the above image. Under the form segment, the liquid sub-segment dominates with 53% market share in 2022.

Potash Fertilizers Market

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Why is Demand for Potash Fertilizers Increasing Steadily across Region?

“Rising Population and Requirement of Extensive Nutrient Content”

Considering the situation across the world, such as increasing pollution and population, which is forecasted to increase over the coming years, concerns regarding more mouths to feed will only become stronger. Due to economic volatility, some countries are already facing a food crisis, affecting 9.9% of people across different demographics, according to the UN.

Thus, to feed the existing population, repeated cultivation is done, which is rapidly deteriorating the quality of the soil. Therefore, it becomes important to replenish the soil to produce grains, fruits, and vegetables that are rich in extensive nutrient content.

Enhancing soil with fertilizers will help combat the issues of food shortage and the quality of produce will be enhanced. Use of fertilizers to fertigate vegetative and barren lands is expected to improve agricultural quality and quantity.

One of the prominent fertilizers need to replenish the potassium content of the soil is potassium chloride, which is available in a granulated form, is cost-effective, and provides better nutritional value as compared to the liquid form. Also, these fertilizers help plants be disease-resistant and increase the starch quantity in them.

Know thy Competitors

Competitive landscape highlights only certain players
Complete list available upon request

Country-Wise Analysis

Why is China Exhibiting High Sales of Potash Fertilizers?

China, a vast agricultural country endowed with abundant agricultural resources, has an extensive agricultural history and a practice of intensive cultivation, as well as a large rural population.

The Chinese government always gave priority to the development of agriculture production. China’s agricultural sector produces 1/4 of the world’s grain and feeds one-fifth of the population while possessing just 10% of arable land. Chinese manufacturers are focusing more on the robust development of specialized farms that produce high-quality products, and this has been escalating organic potassium fertilizer demand in the East Asia region.

Chinese manufacturers are focusing more on organic potassium fertilizer pricing as major players offer additional profit margins to distributors to gain a significant market share in the region.

Acquisitions and mergers are important in the East Asian fertilizers market; prominent manufacturers acquire small entities that have established markets in local areas to expand their service offerings in different countries.

The East Asia market is anticipated to expand at a CAGR of 6.3% to reach US$ 14.6 billion by 2032.

Will Suppliers of Potash Fertilizers Thrive in the Indian Market?

The agricultural sector of India is the primary source of income for 58% of the Indian population. Foreign institutional investors acquire stakes in Indian companies as they are seeing high upside potential in the Indian market, mainly due to several government initiatives to support the farming industry.

Governments are launching several schemes and are providing immense prospects for learning new technologies, tools, systems, and approaches.

Potash fertilizer companies are focusing more on minimizing operating costs, which affect the overall profitability of firms, and are also shifting towards sustainable methods to drive the overall efficiency of the production.

The South Asia & Oceania market is anticipated to expand at a CAGR of 5.7% to reach US$ 11.7 billion, with sales of potash fertilizers anticipated to increase at a CAGR of 4.6% in India.

Category-Wise Analysis

Why are Liquid Potash Fertilizers More Popular?

Liquid or soluble potash fertilizer demand is anticipated to grow at 5.7% CAGR during the assessment period.

Liquid potassium fertilizers for plants correct potassium deficiencies at a much faster pace as compared to solid potash fertilizers. Manufacturers produce more liquid potash fertilizers due to their rapid nutrient-providing capabilities, high solubility, uniformity of application, and blending with crop protection products.

Which Crops are Potash Fertilizers Most Widely Used For?

Cereals & grains are the most lucrative crops/applications these days. Prime manufacturers prominently target the South Asia & East Asia regions due to the high demand for wheat and rice in these regions

Cereals & grains currently account for 40.3% market share and are estimated to generate US$ 11.6 billion in value by the end of 2022 in the global market. In addition, the cereals & grains sub-segment of potash fertilizers is expected to create an absolute dollar opportunity of US$ 9.2 billion by the end of the assessment period.

Furthermore, demand for fruits and vegetables is also gaining traction due to consumers being more concerned about their health, which, in turn, is escalating demand for potassium fertilizers from this segment as well.

Competitive Landscape

Prominent potash fertilizers manufacturers are Yara International Asa, Agrium Inc., Potash Corporation of Saskatchewan Inc, Eurochem Group AG, The Mosaic Company, JSC Belaruskali, Helm AG, Israel Chemicals Ltd., Sociedad Química Y Minera De Chile S.A. (SQM), Borealis AG, Sinofert Holdings Limited, K+S Aktiengesellschaft, PJSC Uralkali, Russia, and Arab Potash Company.

  • Phosphate and potash fertilizers brands should focus on production expansion in different countries to minimize export duties where potash fertilizers have more demand and tie up with third-party distributors to cover untapped markets. Players should opt for sustainable methods to minimize carbon footprint, which leads to an increase in the efficiency of potash fertilizer production.

Fact.MR has provided detailed information about the price points of key manufacturers of potash fertilizers positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.

Segmentation of Potash Fertilizers Industry Research

  • Potash Fertilizers Market by Form :

    • Solid Potash Fertilizers
    • Liquid Potash Fertilizers
  • Potash Fertilizers Market by Product Type :

    • Potassium Chloride
    • Sulfate of Potash (SOP Fertilizers)
    • Potassium Nitrate
    • Others
  • Potash Fertilizers Market by Application Technique :

    • Broadcast
    • Fertigation
    • Foliar
    • Others
  • Potash Fertilizers Market by Crop/Application :

    • Fruits & Vegetables
    • Oilseeds & pulses
      • Soybean
      • Canola
      • Sunflower
      • Others (Peas and Palm Oil)
    • Cereals & Grains
      • Rice
      • Corn
      • Wheat
      • Barley
    • Others
  • Potash Fertilizers Market by Region :

    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia & Oceania
    • MEA

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The global potash fertilizers market is estimated at US$ 28.9 billion in 2022.

Sales of potash fertilizers are expected to increase at 5.4% CAGR through 2032.

Liquid potash fertilizers are high in demand due to their high nutrient-providing capabilities.

The potash fertilizers market registered a CAGR of 3.9% during 2017-2021.

Key suppliers of potash fertilizers are involved in strategic partnerships with third-party distributors, along with the development of an effective supply chain to deliver end products faster.

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