Potash Fertilizer Market Update Know Whose Market Share Is Getting Bigger And Bigger: Yara, Jordan Phosphate, Nutrien
According to HTF MI, “Global Potash Fertilizer Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2029″. The Global Potash Fertilizer Market is anticipated to grow at a compound annual growth rate (CAGR) of 3.9% from 2023 to 2028, reaching USD 21.3 Billion in 2023 and USD 28.9 Billion by 2028.
Published Via 11Press : Potash Fertilizer is a kind of fertilizer that has high potassium content, a mineral that is crucial for plant growth. Potassium aids in the growth of robust roots, increased disease, and stress resistance, and enhanced quality and yield in plants. Potash fertilizer can be found in a variety of forms, including potassium chloride, potassium sulfate, and potassium nitrate. It is primarily created from potassium salts that are mined. It is frequently used in horticulture, gardening, and agriculture to make up for soil deficiencies and increase crop output.
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Key and developing players who have been highlighted as part of the coverage include Yara International (Norway), Jordan Phosphate (Jordan), Arab Potash Company (Jordan), Nutrien Ltd (Canada), Uralkali Mosaic (Russia), K+S Group (Germany), Israel Chemicals Ltd (Israel), Qinghai Salt Lake Industry (China), JSC Belaruskali (Europe), CF Industries (United States), Sinofert Holdings Limited (China), Eurochem Group (Switzerland).
Market Drivers
- Consumption of food is rising. Both the world population and the demand for food are growing. Potash fertiliser, a crucial element of contemporary agriculture for maintaining soil health and crop yields, is becoming more and more in demand as a result of this.
- There is a shortage of arable land. As the world’s population rises, there is less available arable land for farming.
- This highlights the significance of maximising farmland yields, which calls for the usage of premium potash fertiliser.
- Utilising data and technology, precision agriculture aims to maximise crop yields while minimising waste. In order to provide crops the nutrients they need to thrive, this approach typically uses fertilisers like potash.
Market Trend
- Increasing demand for organic and sustainable farming practices
- Growing adoption of precision agriculture techniques
- Expansion of potash mining and production activities in emerging economies
Market Opportunities
- Prospects for the potash fertilizer sector might spur market expansion and profitability in the ensuing years.
- Raising crop yields to satisfy increased demand is essential since potash is a crucial element of contemporary agriculture.
- The market for biofuels is increasing as a result of worries about climate change and the need to reduce greenhouse gas emissions.
- Potash is a crucial ingredient in the production of biofuels, and as demand for biofuels grows, so will potash demand.
- Sustainable farming methods are gaining popularity because they use fertilizers and other inputs in an environmentally and socially appropriate way. Potash is a crucial element of sustainable agriculture, and its price will rise as demand for it rises.
Market Restraints
- Potash price turbulence Potash prices are incredibly erratic, with big price swings being a result of changes in supply and demand.
- For firms, this makes long-term planning and investment difficult. While potash is a vital part of modern agriculture, other fertilizers can offer advantages that are comparable. To improve soil health and crop production, potash-free fertilizers such as those containing nitrogen and phosphate can be substituted.
- Potash fertilizers, among others, can harm the environment by polluting rivers and emitting greenhouse gases. More restrictions and regulations on the usage of fertilizers are the result of growing environmental concerns, which might reduce demand for potash.
- High-quality potash deposits are few; the majority of the world’s reserves are concentrated in a small number of nations. Price volatility and supply chain problems may result from this.
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Key Developments in the Market:
On 13th April 2022, “Gensource Announces Agreement to Acquire Innovare Technologies Ltd. Innovare is a privately owned company that develops patented selective solution mining and brine processing technology for the recovery of potash and other soluble minerals. Gensource will acquire Innovate’s shares through a reorganization in which Innovate’s current shareholders will transfer their shares in Innovare to Gensource in exchange for new Gensource common shares.”
Key Market Segmentation:
The report has categorized the Potash Fertilizer market based on type, distribution channel, and region.
Market Breakdown by Applications:
- Potassium Chloride
- Potassium Nitrate
- Sulphate & Potash
- Others
Market Breakdown by Types:
- Grains
- Oilseeds
- Fruits & vegetable
- Fertilizers, Others
Report Scope
| The Market size value in 2023 | USD 21.3 Billion |
| Revenue Forecast by 2033 | USD 28.9 Billion |
| Growth Rate | CAGR Of 3.9% |
| Regions Covered | North America, Europe, the Middle East and Africa, Latin America, and the rest of the world |
| Historical Years | 2018-2022 |
| Base Year | 2022 |
| Estimated Year | 2023 |
| Short-Term Projection Year | 2028 |
Note: With the help of the Growth Overview Charts, Historical Period Analysis, Forecast Period Analysis, Main Market Segmentation, Leading Key Market Players, TOC, List of Figures, and List of Tables in this report, you can get a thorough overview of the market.
Competitive Landscape:
Along with studying the profiles of the key players, the industry’s competitive environment has also been examined. Players profiled are Yara International (Norway), Jordan Phosphate (Jordan), Arab Potash Company (Jordan), Nutrien Ltd (Canada), Uralkali Mosaic (Russia), K+S Group (Germany), Israel Chemicals Ltd (Israel), Qinghai Salt Lake Industry (China), JSC Belaruskali (Europe), CF Industries (United States), Sinofert Holdings Limited (China), Eurochem Group (Switzerland).
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Key highlights of the report:
- Potash Fertilizer Market Performance (2018-2022)
- Potash Fertilizer Market Outlook (2023-2028)
- Potash Fertilizer Market Trends
- Potash Fertilizer Market Drivers and Success Factors
- SWOT Analysis
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
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