DUBLIN–(BUSINESS WIRE)–The "Potash Fertilizer Market – Growth, Trends, and Forecast (2020 – 2025)" report has been added to ResearchAndMarkets.com's offering.
The Global Potash Fertilizer Market was valued at USD 19.70 billion in 2018 and is projected to reach USD 25.05 billion in the year 2024, witnessing a CAGR of 4.4% over the forecast period of 2019-2024.
Potassium is a major nutrient, required in high doses by plants. The element regulates the opening and closing of stomata and therefore regulates the uptake of Carbon dioxide. Potassium is also important for other functions such as activation of enzymes and the production of Adenosine Triphosphate (ATP).
Potassium is an element that is naturally available in deposits and cannot be manufactured synthetically. Potassium is the seventh most common element and constitutes 2.4% of the mass of the earth's crust. The total global potash deposits amount to an estimated 210 billion metric tons of potassium oxide, of which 16 billion metric tons are recoverable using existing technologies.
Among the 16 billion metric tons, Canada holds deposits to the tune of 10 billion metric tons, most of it in the province of Saskatchewan. Russia and Belarus hold 2.2 billion metric tons and 1 billion metric tons respectively and these three countries dominate the global potash supply, having a direct control on the prices of potash fertilizers.
Key Market Trends
Potash Deficiencies in Major Cereal Crops Driving Demand
Grains and cereals are crops that require high dosages of potassium. Since potassium is an element that moves quickly within the plant tissue, the deficiency is first noticed in older leaves. In the case of rice, the margins of older leaves turn yellowish-brown or dark brown necrotic spots appear on older leaves. In the case of maize and other cereals such as sorghum, firing or scorching appears on the outer edge of older leaves. Underneath the soil, poor root development and defective nodal tissues are observed. Potassium deficiency is commonly noticed in most soils across developing markets, which grow large acreages of rice, maize, and wheat.
Asia Pacific Leads the Global Potash Fertilizer Market
Potassium is mined from salt deposits. Large potash deposits are found in Russia, which is the world's largest producer of this nutrient. Owing to large salt deposits in Russia, Asia-Pacific accounts for the largest share of the potash fertilizer segment. China, Indonesia, Malaysia, and India are the largest potash exporters in the international market.
The countries in Asia are recoding growth in the potash fertilizer segment, as they are witnessing increasing requirement for crops. In addition, these countries have historically been under-applied potash fertilizer, as compared to scientifically recommended levels of potash fertilizer application.
The potash fertilizer industry is highly consolidated with top players occupying the majority of the market. In 2018, the top companies involved in the potash fertilizers market at the global level were Nutrien Limited, The Mosaic Company, JSC Belaruskali, Uralkali PJSC, Intrepid Potash Inc, among others.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers & Restraints
4.3 Market Drivers
4.4 Market Restraints
4.5 Porter's Five Forces Analysis
5 MARKET SEGMENTATION
5.1.1 Muriate of Potash
5.1.2 Sulfate of Potash
5.1.3 Other Types
5.2.1 Grains & Cereals
5.2.2 Pulses & Oilseeds
5.2.3 Commercial Crops
5.2.4 Fruits & Vegetables
5.2.5 Other Applications
5.3.1 North America
220.127.116.11 United States
18.104.22.168 Rest of North America
22.214.171.124 United Kingdom
126.96.36.199 Rest of Europe
188.8.131.52 Rest of Asia-Pacific
5.3.4 South America
184.108.40.206 Rest of South America
220.127.116.11 South Africa
18.104.22.168 Rest of Africa
6 COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Nutrien Limited
6.3.2 The Mosaic Company
6.3.3 JSC Belaruskali
6.3.4 ICL Group
6.3.5 K+S Group
6.3.6 Uralkali PJSC
6.3.7 Intrepid Potash Inc.
6.3.8 Sinofert Holding Limited
6.3.9 EuroChem Group
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/901xrj
Laura Wood, Senior Press Manager
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900