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Potash Fertilizers Market

Potash fertilizers market report categories global market, by product type (Potassium Nitrate, Sulphate of Potash, Potassium Chloride, and Others), by form (Liquid and Solid), and by crop type (Oil seeds & Pulses, Fruits & Vegetables, Cereals & Grai
Potash Fertilizers Market - Global Industry Insights,
Trends, Outlook, and Opportunity Analysis,
Fertilizers are used to maintain soil fertility and enhance crop yield. In addition to
phosphorus and nitrogen, potassium is an important element responsible for plant
growth. Lack of potassium lowers resistance of plants against several diseases and
draught, bringing down the overall quality of the crops. These factors have led to an
increase in the demand for potash fertilizers globally. Furthermore, there are three
major grades of potash fertilizers available, which includes potassium chloride,
potassium sulfate, and potassium nitrate among others.
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Key factors increasing the demand for potash fertilizers include rising demand for
increased crop productivity on limited landscape and the growing acceptance of
potash fertilizers, owing to its high nutrient content. Potash fertilizers help to improve
the flavor and color of fruits, and also has the ability to increase their size. Low
chloride content in potassium chloride fertilizers helps in improving the yield by
providing disease resistance to crops. Furthermore, the potassium sulfate fertilizers
provide both sulfur and potassium in soluble form, and is the most preferred grade of
potash fertilizers, where the irrigation water have high chloride content. Wide
availability of various grades of potash fertilizers is another major factor that is
boosting growth of the market.
Potash Fertilizers Market Outlook
Asia Pacific is expected to be the fastest-growing market, witnessing the highest
CAGR during the forecast period. Major factors contributing to the growth of potash
fertilizers market include rising awareness among the farmers regarding the efficient
usage of their land for better crop yield by using fertilizers, and the steadily growing
demand for food grains, owing to the rising population. For instance, according to the
United Nations ESCAP (Economic and Social Commission for Asia and the Pacific),
in 2014, the population of Asia Pacific was recorded as 4.3 Billion, which accounted
for more than 60% of the world’s total population. Moreover, the growing demand for
potash fertilizers in economies such as China, India, and Indonesia is another factor
pushing the growth of this market in Asia Pacific.
In Latin America, economies such as Brazil, Mexico, Argentina, and Colombia are
the largest consumers of fertilizers. According to the United Nations ESCAP, the
annual growth for potash fertilizer in this region is anticipated to be around 3% during
2014-2018. Furthermore, Brazil is one of the major contributors to the growth of the
market, owing to the high imports of potash fertilizers, as soil in the country has low
potassium content and requires added potash to enhance and maintain its
productivity. According to the Brazilian National Fertilizer Association (ANDA), the
potash imports in Brazil was recorded as 1.38 Million Tons in the first quarter of
2016, with an increase of 2.4% as compared to 2015.
Major players operating in the potash fertilizers market include Israel Chemicals Ltd.,
Agrium Inc., EuroChem Group A.G., Uralkali PJSC, The Mosaic Company, Yara
International A.S.A., Migao Corporation Chemicals, SQM S.A., Sesoda Corporation,
Brazil Potash Corporation, and K+S KALI GmbH. In 2015, the Migao Corporation
Chemicals had launched a new compound fertilizer facility in Southern China. The
compound fertilizer is a combination of potassium sulfate, potassium nitrate, and
other crop nutrients.
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