Potash Fertilizers Market is estimated to be US$ 37.26 billion by 2030 with a CAGR of 4.2% during the forecast period
Potash Fertilizers Market accounted for US$ 24.80 billion in 2020 and is estimated to be US$ 37.26 billion by 2030 and is anticipated to register a CAGR of 4.2%. Potash is a potassium-based fertiliser that is primarily used to help plants retain more water. It also aids in crop productivity, flavour enhancement, and disease resistance in plants. Muriate of potash and sulphate of potash are the two most commonly used potash fertilisers. Potassium is a mineral that is necessary for human survival. Furthermore, potassium is a critical nutrient for plant health, and a sufficient quantity in the soil is required to maintain the plant's growth. Plants generate lower quality, lower yields, use less water productively, and are more susceptible to disease and insect damage when their potassium supply is limited.
The report "Global Potash Fertilizers Market, By Crop Type (cereals & grains, oilseeds & pulses, fruits & vegetables and others), By Application (broadcasting, foliar, fertigation), By Form (liquid, and solid) and, By Region (North America, Europe, Asia-Pacific, Latin America and, Middle East & Africa)- Trends, Analysis and Forecast till 2029’’
Key Highlights:
· In November 2021, Australian Potash has received firm commitments to raise approximately AUS$12 million via a two tranche placement at an issue price of AUS$0.08 per share.The proceeds will be used to advance the Lake Wells sulfate of potash (SOP) project, focusing on continued bore development and de-risking a Final Investment Decision targeted for the end of 1Q22, earthworks and working capital..
Analyst View:
Over the anticipated period, demand for potash fertilisers will rise due to an improvement in the standard of life and government initiatives to modernize farms and raise agricultural production. Potash fertilizer market growth is largely influenced by crop variability and meteorological circumstances in different regions. The increased demand for crops in other applications, such as biofuel production, is likely to contribute significantly to the expansion of the potash fertilisers industry. Furthermore, over the projected period, the target market's expansion is expected to be hampered by strict government regulations governing the approval of potash fertilisers.
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Key Market Insights from the report:
Global Potash Fertilizers Market accounted for US$ 24.80 billion in 2020 and is estimated to be US$ 37.26 billion by 2030 and is anticipated to register a CAGR of 4.2%. Global Potash Fertilizers is segmented into crop type, application, form and region.
· Based on Crop Type, the Global Potash Fertilizers Market is segmented into cereals & grains, oilseeds & pulses, fruits & vegetables and others.
· Based on Application, the Global Potash Fertilizers Market is segmented into broadcasting, foliar, fertigation.
· Based on Forms, the Global Potash Fertilizers Market is segmented into liquid, and solid.
· By Region, the Global Potash Fertilizers Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Competitive Landscape & their strategies of Global Potash Fertilizers Market:
The key players in the global Potash Fertilizers Market includes Yara International ASA, Potash Corporation of Saskatchewan Inc., Israel Chemical Ltd., K S Aktiengesellschaft, Sociedad Química Y Minera De Chile, The Mosaic Company, Eurochem Group AG, JSC Belaruskali, Sinofert Holdings Limited.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
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