Potash Fertilizers enhance the plant growth and productivity of potassium deficient soil. Increasing population and growing demand for food have led to the need for high agricultural productivity which is driving the growth of the potash fertilizers market. Moreover, increasing inclination towards fertilizers globally, is primarily boosting the growth of the potash fertilizers market.
Potassium is essential for plant health and there must be a sufficient supply in the soil to maintain good crop growth. When the potassium supply is limited, soil yield is reduced with poor crop quality, inefficient utilization of water, and susceptibility to pest and disease damage increases. Therefore, potash fertilizers are necessary to be used in the soil with potassium deficiency. The most commonly used potash fertilizers include muriate of potash, potassium magnesium sulfate, sulfate of potash, potassium nitrate, and others.
Growing acceptance of modern farming is adding fuel to the growth of potash fertilizers market. To improve the efficiency of potash fertilizers, major players are investing in research and developments which is further boosting the growth of the global potash fertilizers market. However, the uncertain regulatory policies regarding the use of potash-rich fertilizers may hamper the growth of the market. Nevertheless, all these factors are projected to contribute to the estimated CAGR of 4.3% of potash fertilizers market during the forecast period, 2017-2023.
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Major Key Players:
Some of the key players profiled in the Global Potash Fertilizers Market are Agrium Inc. (Canada), Yara International ASA (Norway), The Mosaic Company (U.S.), JSC Belaruskali (Republic of Belarus), Eurochem Group AG (Switzerland), Borealis AG (Austria), HELM AG (Germany), Sinofert Holdings Limited (China), Israel Chemicals Ltd. (Israel), among many others.
Potash fertilizers market is segmented on the basis of type namely muriate of Potash, Sulfate of Potash, Potassium Magnesium Sulfate, Potassium Nitrate and others. Among all, muriate of potash is dominating the market owing to its high nutrient concentrates. However, sulfate of potash is also witnessed to be growing over the forecast period.
Based on the form, the potash fertilizers market is segmented into granules, powder, liquid, and others. Among them, granules segment is projected to be dominating the market followed by powder segment.
On the basis of crop type, the potash fertilizers market is segmented into grains & cereals, oil seeds & pulses, fruits & vegetables, and others. Among all, fruits and vegetable segment is dominating the market followed by grains and cereals.
The Global Potash Fertilizers Market is segmented into Europe, North America, Asia Pacific and rest of the world (RoW). Europe holds the highest share of the potash fertilizers market. In Europe, Ireland and Belgium are majorly contributing to the growth of potash fertilizers market. North America is estimated to have a moderate expansion in the market share of potash fertilizers over the estimated period.
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Asia Pacific is witnessed to be the fastest growing region in potash fertilizers market. India and China, two of the largest countries in terms of population are majorly contributing to the growth of the potash fertilizers in this region. Latin America is anticipated to gain a moderate growth rate over the estimated period.
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