The Potash Fertilizer Market was worth USD 19.18 billion in 2014 and is expected to reach approximately USD 28.28 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 4.41% during the forecast period. Potash Fertilizer market is experiencing advantageous growth due to rising need for higher production in limited area of land. The various benefits of using these fertilizers such as increased quantity and quality of crops, regulation of water in plants, provides essential nutrients, etc.
Type Outlook and Trend Analysis
According to the Type the market of Potash Fertilizer is divided into Potassium Chloride (KCL), Sulphate of Potash (SOP), Potassium Nitrate, and Others. Potassium chloride accounted to the largest share in market as it is used as major source of potassium for crops. Besides being source of potassium it also helps in increasing protein, vitamin C, and other nutrients in crops. It also helps in improving various aspects such as size of fruit, enhanced colour of fruit, reducing diseases and pests on fruits. The Sulphate of Potash holds the second-largest share in the type segment.
Crop Type Outlook and Trend Analysis
Oilseeds & Pulses, Cereals & Grains, and Fruits & Vegetables are the various crop types. Cereals & grains account to highest consumption in the Crop type segment owing to increasing demand of grains with quality nutritional profile for fulfilling the improved diet needs.
Application Method Outlook and Trend Analysis
The application method segment is fragmented into Broadcasting, Foliar, and Fertigation. Broadcasting method of application is predicted to rule the market due to its benefits such as less requirement of fertilizer, economical, etc. This is the major driver behind the lucrative growth of Broadcasting segment.
Regional Outlook and Trend Analysis
According to the region, the Potash Fertilizer Market is segmented as North America, Asia-Pacific, Europe and South America and Middle East & Africa. The Asia Pacific region dominates the market due increasing population in the region and rising demand for crops which in turn has increased the demand for Potash fertilizer. The North-America region holds the second largest share in the market followed by Europe and South-America.
The leading players in the market are ASABorealis AG, HELM AG, The Mosaic Company, Agrium Inc., and JSC Belaruskali, Israel Chemicals Ltd., Sociedad Química y Minera de Chile S.A, Yara International, K + S AKTIENGESELLSCHAFT, Potashcorp Corporation Of Saskatchewan Inc., Sinofert Holdings Limited, and EuroChem Group AG. The major players in the market are profiled in detail in view of qualities, for example, company portfolio, business strategies, financial overview, recent developments, and share of the overall industry.
The Potash Fertilizer Market is segmented as follows-
Potassium Chloride (KCL)
Sulphate of Potash (SOP)
By Crop Type:
Oilseeds & Pulses
Cereals & Grains
Fruits & Vegetables
By Application Method:
Rest of Europe
Rest of Asia-Pacific
Rest of South America
Middle East and Africa
Rest of MEA
Some of the key questions answered by the report are:
What was the market size in 2014 and forecast from 2015 to 2023?
What will be the industry market growth from 2015 to 2023?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?