Global Potassium Fertilizers Market – Industry Analysis and Forecast (2019-2026)

Global Potassium Fertilizers market was valued US$ XX million in 2019 and is expected to reach US$ 370 Million by 2026, at CAGR of xx %during forecast period.

The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.

The objective of the report is to present comprehensive assessment projections with a suitable set of assumptions and methodology. The report helps in understanding Global potassium fertilizers market dynamics, structure by identifying and analyzing the market segments and projecting the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, growth strategies, and regional presence. To understand the market dynamics and by region, the report has covered the PEST analysis by region and key economies across the globe, which are supposed to have an impact on market in forecast period. PORTER’s analysis, and SVOR analysis of the market as well as detailed SWOT analysis of key players has been done to analyze their strategies. The report will to address all questions of shareholders to prioritize the efforts and investment in the near future to the emerging segment in the Global Potassium Fertilizers market

Global Potassium Fertilizers Market: Overview

Global demand for potassium fertilizers is expected to witness a significant growth owing to Potassium is an essential nutrient in about all processes needed to increase plant growth and production. Plants deficient in potassium are less resistant to conditions including drought, excess water, and high & low temperatures. Moreover they are also less resistant to pests, diseases and nematode attacks. Because potassium enhance the general health of growing plants and helps them fight against disease, it is known as the "essential" nutrient. Potassium influence quality factors such as shape, color, size, and vigor of the seed or grain, and enhance the fiber quality of cotton.

Global Potassium Fertilizers Market: Drivers and Restraints

The growth of potassium fertilizers market is highly driven by increasing need for higher crop yield with restricted land field and increase in efficiency of potash fertilizers. Increase in demand of crops for other applications such as production of biofuels and seed oil are putting pressure to existing supply of grains for food consumption. Large amount of agricultural producers using these products by seeing enhancing benefits of potassium fertilizer.

Moreover an increasing population and demand for food, growing urban population, adaptation of standard living. Numerous governments across the globe taken Initiative to modernize farming technique and increase agricultural productivity has led to a rise in demand for potash fertilizers over the past few years. Crop diversity and climatic conditions of regions play key role in stimulating potash fertilizer market growth. These factor are expected to play an important role in augmenting potash fertilizers market growth to increase crop yield.

On the other hand, rising trend toward the consumption of organic food & food products which are produced without any synthetic or chemical or with only natural or bio fertilizers. This is one of the important factor to hamper the market of potassium fertilizer.

Global Potassium Fertilizers Market: Segment Analysis

On the basis of product type, potassium chloride segment had largest market share in 2018 due to potassium chloride mainly used as an important source of potassium for field crops, it includes more potassium than any other mineral in the ratio about 60:40(K:Cl) and relatively less cost. Potassium chloride has greater water solubility and any other type, so it’s highly recommended to agricultural producers. Increasing demand for food and high demand towards high yielding, disease resistant and good quality crops by farmers. These factors will drive the market of potassium chloride during the forecast period.

On the basis of crop type, cereals and grains segment had largest market share in 2018 and is expected to drive the market of potassium during the forecast period. Among the grains, rice, wheat, and corn are the major consumers of potash fertilizers. Additionally, increasing population and demand for healthy diet that contains essential nutrients in sufficient quantity have increased the need high crop yields. These are the factors will drive the market share during forecast period.

Global Potassium Fertilizers Market: Regional Analysis

Asia Pacific market had largest market share in 2017 and expected to grow during the forecast period(2017-2026) owing to high population in the region leading to an increased demand for food grains, improving demand for nutrients enriched food and increasing awareness among farmers about the possibility of high yield in less land fields through fertilizers. Asia Pacific including India and China are diverse in climate conditions such as drought region, high temperature and potassium fertilizers are less resistant to these conditions to grow healthy plants and increase in productivity. Government taking initiative to improving the techniques of farming and modernizing it. Particularly government in china taking extra efforts to increase in production of potassium fertilizers owing to increasing demand of food. Rise in consumption of vegetable crops that require potash fertilizers for keeping their potassium content. And increasing demand for animal feed is one of the important factor. These are the factors, which will drive the growth of the potassium fertilizers market in the region.

Asia Pacific followed by North America, Europe and rest of the world owing to increasing population, improvement in standards of living and increasing demand for domestic food.

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Scope of Global Potassium Fertilizers Market

Global Potassium Fertilizers Market, by Product Type

• Potassium chloride

• Sulfate of Potash (SOP)

• Potassium nitrate

• Others

Global Potassium Fertilizers Market, by Application Method

• Broadcasting

• Foliar

• Fertigation

Global Potassium Fertilizers Market, by Form

• Solid

• Liquid

Global Potassium Fertilizers Market, by Crop Type

• Cereals & grains

• Oilseeds & pulses

• Fruits & vegetables

• Others

Global Potassium Fertilizers Market, by Region

• North America

• Europe

• Asia Pacific

• Middle East & Africa

• South America

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