. The new market report contains data for historic years 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.
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Segmentation: Global Sulfate of Potash Market
By Grade Type (standard SOP, Granular SOP, Soluble SOP), By end user (Agricultural, Industrial), By Geography (North America, South America, Europe, Asia-Pacific, Middle East & Africa)
Drivers: Global Sulfate of Potash Market
The major factors contributing to the growth of the market includes factors such as are rising global population and income growth in key emerging markets, Reduction In Arable Land And Chase For Higher Yields, Increase In Need Of Turf & Ornamental Land.
RISING GLOBAL POPULATION AND INCOME GROWTH IN KEY EMERGING MARKETS
According to WHO the global population had reached to 7.6 billion by end of 2017. With the rise in population the need for more agricultural and industrial product increases. Furthermore, according to Food and Agriculture Organization of the United Nations (FAO), the world economy has broadly strengthened over the past three years and is expected to continue this strengthening during 2014-2015. The global grain supply-demand balance in the 2014-2015 marketing season had improved. The world cereal production in 2014 was estimated to reach 2 498 000 000 tonnes. World demand for total fertilizer nutrients is been estimated to grow at 1.8 percent per annum from 2014 to 2018. The demand for nitrogen, phosphate, and potash fertilizer is forecast to grow annually by 1.4, 2.2, and 2.6 percent, respectively, during the forecasted period. The global potential balance of potassium was expected to rise significantly from 8 700 000 tonnes in 2014 to 12 700 000 tonnes in 2018, Africa region is likely to remain a major exporter of phosphate, followed by nitrogen. But North America continues to be solely importer of potash.
According to above mentioned statistics the need for Potash based fertilizers is increasing. SOP (Sulfate of Potash) is a chloride free chemical and vital for high value crops. The agricultural pollution, water scarcity and technology advances technology are causing changes in production practices of various groups such as different method of irrigations like sprinkle irrigation method are used for growing of crops. With the change in lifestyle more demand for sensitive crop is growing. According to Agrimin company approximately 50 kilotons per annum SOP is imported and used in Australia itself. Markets such as of potatoes and grapes are major drivers for SOP. According to compass mineral industries North America is highest producer of Potash globally is making the market of SOP grow in the future.
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Major Players: Global Sulfate of Potash Market
Some of the Major Players Operating in this Market are:-
• Tessenderlo Group,
• Haifa Chemicals ltd.,
• Compass Minerals,
• K+S KALI GmbH,
• SQM,
• MIGAO GROUP,
• Ameropa Australia Pvt Ltd,
• Archean Group,
• China Ching Shiang Chemical Corporation,
• SESODA,
• Helm AG,
• Merck KGaA among others.
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