The global demand for potash fertilizers faced a minor slowdown owing to the spread of deadly corona virus disease in the year 2020. The manufacturers witnessed reduced sales and their profit making capacity also declined. However, as the progress has started to prevail on account of reduced number of cases registered in 2021, the market is gaining traction and the demand is increasing throughout the world at a faster pace.Leading companies are investing in research programs for delivering improved products to their users.
Prominent manufacturers including Yara International Corporation, EuroChem Group, Agrium Incorporation, JSC Belaruskali, HELM AG, Sinofert Holdings and Taiyo Nippon Sanso are investing in latest and highly equipped equipments, and tools for the production centers to ensure bestest quality products as well as are setting-up researches institutes for bringing innovation in their offerings. Further, they are adopting joint ventures, expansions, partnerships, technological advancements, capacity utilization, mergers & acquisitions, collaborations, product innovations, technical expertise, diversification, e-selling etc as their major growthstrategies to be among the bestest players and extend their market share globally.
The Mosaic Company, Intrepid Potash andNutrien Limited continue to be among the leading companies delivering high quality potash fertilizers at affordable prices to ensure customer satisfaction and retention.
For instance, EuroChem Fertilizer Corporation, a leading global fertilizer company has signed Memorandum of Intent (MOI) with an Italian engineering firm called Marie Tecnimont to develop a combined urea and ammonia plant subject to further investment plan approval on 1st October, 2019. The agreement is specially signed for its new Euro 1 billion fertilizer plant and to see Marie Tecnimont carry out preliminary engineering and site surveying work at a brownfield site next to Eurochem’s existing production facilities. The plant will be having a boast capacity of about 3000 tonnes of ammonia and 4000 of urea per day once fully ramped up. The company is considering this as a next step towards considering building the world scale plant. The signing of memorandum of intent between these two corporation extented the capabilities and production of both EuroChem and Marie Technimont and improved their name and presence throughout the world in this market.
In addition to EuroChem Fertilizer Corporation, Gensource Potash made an announcement in 2020 about the inclusion of HELM AG and HELM Fertilizer Corporation , a subsidiary of HELM AG as its Tugaske project’s offtake partner. HELM and Gensource are currently finalising the definitive offtake agreement for Tugaske under which HELM will purchase 100 percent of the production from the project for 10 years, renewable thereafter. It completed its financial commitments by the end of 2020. This inclusion is proving beneficial in terms of revenue and profitability for the companies. HELM has further increased its portfolio of storage facilities close to its agricultural markets to serve the ne3eds to their customers.
Potash Fertilizer Market: Snapshot
Natural potassium does not exist in environment since it responds aggressively with water. Fertilizer potassium is at times called "potash", a term that originates from an early making procedure where potassium was filtered from ashes of woods and concentrated by dissipating the leachate in huge iron pots ("pot-cinder"). Plainly, this activity is not in practice anymore and isn't feasible naturally. In production of food, potassium is eliminated from the soil in the crops that are harvested and should be replaced keeping in mind the end goal to keep up the crop growth in future.
Potassium is an essential mineral required for human wellbeing. Moreover, potassium is also a fundamental compound for plant’s health and there must be a satisfactory supply in the soil to keep up the plants’ growth. At the point when the potassium supply is constrained, plants produce low quality, have decreased yields, use less water productively, and are more prone to disease damage and pest.
In numerous parts of the globe, agricultural soils are step by step getting depleted from potash. A few soils were high in potassium when they were first developed long back. Be that as it may, after numerous long periods of extensive cropping and rehashed removal of nutrient during the harvest.
Fact.MR has come up with a new research report on global potash fertilizers market, highlighting trends, opportunities, drivers and restraints impacting growth of the market. The research report offers holistic analysis and insights on the key factors impacting demand for potash fertilizers. The impact of improving quality of food products on the growth of potash fertilizers market has been discussed in detail in the report. The research study delivers holistic analysis on import-export of potash fertilizers for the forecast period 2021-2031
Key companies involved in the production of potash fertilizers have been profiled in the report. Additionally, analysis of key company’s product portfolio, SWOT analysis, key financials and strategies adopted to gain competitive advantages have been included in this report. Further, developments and innovations of key companies in this market have been chalked in the report.
As the world’s population continues to grow, there is an urgent need to increase food production around the globe. Adoption of fertilizers is likely to gain momentum to improve food quality by providing essential nutrition content with the use of potash fertilizers. Fertilizers help improve plant quality and further its shelf life. Further, they improve natural fertility of soil and aid in replacing the chemical elements taken from the soil by previous crops.
Global Potash Fertilizers: Opportunities for Key Market Participants
Rising population has led to a rapid surge in food consumption, due to which farmers are focusing on improving their yield per hectare. In addition to the various tools and equipment used to improve farm output, demand for effective fertilizers has also witnessed an increase. The adoption of fertilizers is also likely to witness an increase on account of favorable government initiatives, such as the provision of subsidies. To maintain soil productivity, regular use of potash fertilizers is vital, which is propelling the demand for potash fertilizers. Further, increased disposable income has led to shift a consumption pattern which will influence sales of high-nutrition and high quality food products. This trend will ultimately increase demand for high-quality fertilizers. Additionally, owing to easy availability, low-cost, government subsidy and lack of substitutes, potash fertilizers are likely to witness steady demand during the assessment period.
Potash Fertilizers: Key Developments in Competitive Landscape
Under agricultural schemes in several countries, the nutritional value has been defined for food products. For instance, government of India has implemented National Project on Management of Soil Health and Fertility to promote judicial and balanced applications of fertilizers in conjunction with organic fertilizers on soil test basis. Additionally, government of India has slashed prices of non-urea fertilizers by nearly 25%. As India is the largest producer of crops such as vegetables and fruits, demand for potash fertilizers will remain significant in the country.
Canpotex, a Saskatoon-based potash exporter company, is ramping up its operations in South America’s largest agricultural market. With the expansion of the company, it is investing to be a dominating fertilizer supplier. Brazil is the largest importer of potash and Canpotex is beefing up its presence there.
According to FAO, there is a dire need for governments around the world to feed the growing global population. Technological advancements, such as use of robots, tractors and others are likely to help reach target set by governments however, fertilizers will play a key role in accelerating production and enhancing the food quality. On the other hand, in many parts of semiarid and subhumid tropics, crop yields are reducing, even after effective use of fertilizers. Limited arable land also remains a key challenge in these regions. To improve fertilization of the soil and to improve the yield per hectare in these regions, there is a dire need to adopt novel fertilizers and solutions.
Overall, the research study on potash fertilizers market offers in-depth analysis on the key factors that are likely to shape this landscape for the period 2021-2031. Readers can expect holistic analysis and insights on the strategies adopted by key players in this market. The insights offered in the report can help stakeholders in gaining a holistic perspective on the future supply-demand of potash fertilizers.
Key potash fertilizer suppliers include Israel Chemicals, Agrium, OCP, CF Industries, Urakali, Yara, Mosaic, and Potash Corporation.
A thorough analysis has been offered by the report on
- Market Dynamics
- Market Size
- Market Segments
- Demand & Supply Trends
- Current Issues and Challenges
- Companies and Competitor Landscape
- Value Chain
Regional Segments Analyzed Include
- North America (U.S., Canada)
- Latin America (Mexico. Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Middle East and Africa (GCC, S. Africa, N. Africa)
Compilation of authentic and first-hand intelligence, insights offered in the report are based on quantitative and qualitative assessment by leading industry experts, and inputs from opinion leaders & industry participants around the value chain. Growth determinants, macroeconomic indicators, and parent market trends have been scrutinized and delivered, coupled with the market attractiveness for each market segment encompassed. Qualitative impact of growth influencers on the market segments across regions has also been mapped by the report.
Highlights from the Report
- Elaborated scenario of the parent market
- Transformations in the market dynamics
- Detailed segmentation of the target market
- Historical, current and forecast market size based on value and volume
- Latest industry developments and trends
- Competition landscape
- Strategies adopted by the market players and product developments made
- Potential and niche segments, along with their regional analysis
- Unbiased analysis on performance of the market
- Up-to-date and must-have intelligence for the market players to enhance and sustain their competitiveness
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