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Potash Market

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The global potash market size is expected to be valued at US$ 19 million, exhibiting a CAGR of over 4.5% over the forecast period (2019-2027).
Potash Market Size, Trend and Industry Analysis
2027
The compounds that contain potassium are referred to as potash. Potassium
chloride (KCl), potassium nitrate (KNO3), and potassium sulfate (K2SO4) are some
of the examples of potash. It contains potassium in water-soluble form. The
extraction of potassium carbonate was done by leaching wood ashes and then
evaporating the solution in large pots. The name potash was derived from this
method of extraction. The separation of salt and other minerals from potash rocks
results in availability of potash.
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Market Dynamics
The global potash market size is expected to be valued at US$ 19 million, exhibiting
a CAGR of over 4.5% over the forecast period (2019-2027). Increasing demand for
fertilizers is one of the major factors driving growth of the global potash market. The
demand for food is increasing globally due to increasing population and rapid
urbanization. Therefore, for agricultural activities, farmers use potash-based
fertilizers for healthy growth of plants. This results in increasing demand for potash,
thereby driving the potash market growth. Moreover, increasing shrinking of arable
land is resulting in rising demand for agricultural fertilizers to enhance the
productivity and yield per hectare. This will create growth opportunities for the potash
market.
Moreover, potash find applications in animal feed-stocks and industrial processes. It
is used as animal feed for animal growth and milk production. Also, manufacturing of
ceramics, soaps, and glass uses potash.
Market Outlook
On the basis of region, the global potash market is segmented into North America,
Latin America, Europe, Asia Pacific, Middle East, and Africa. Asia Pacific holds
dominant position in the global potash market, followed by Latin America. Increasing
population is one of the major factors that drive growth of the potash market in Asia
Pacific region. Increased per capita food consumption and high food inflation due to
low crop production are expected to increase demand for potash fertilizers, thereby
fueling potash market growth in the region. In Latin America, Brazil is the largest
consumer of potash fertilizers.
One of the key trends of potash market include increasing adoption of potash in
hydroponics farming. This technique of farming is highly efficient when compared to
traditional farming, which requires more amount of space, water, and pesticides.
Key Players
Some of the major players operating in the global potash market include Passport
Potash, OAO Uralkali, IC Potash Corp, Agrium, Intrepid Potash, ICL, JSC
BELARUSKALI, Nutrien, The Mosaic Company, Vale, PotashCorp, Qinghai Salt
Lake, and Belaruskali among others.
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apeksha motghare
apeksha motghare533   documents Email
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