Market Overview:

Potash Fertilizers Market was worth USD 22.59 billion in 2019 and is projected to grow at a CAGR of 4.6%, to reach USD 28.29 billion by 2024.

Potash fertilizer is a natural substance that is continuously recycled in the earth. Potassium is essential for plant health and it should be adequately supplied to the soil to maintain its fertility. Fertilizers containing potassium are employed wherever soil potassium reserves are inadequate for the targeted crop or pasture production. It encourages the growth of strong stems and renders the plant free of disease by promoting the thickness of the outer cell walls. Furthermore, potassium improves color, flavor and shelf life of fruit and vegetables. The most commonly used potash fertilizers include muriate of potash, potassium magnesium sulfate, sulfate of potash, potassium nitrate, and others.

Market drivers and restraints:

Potash in soil is the initial source of uptake in plants. In many parts of the world, potash in the agricultural soils are gradually depleting that is driving the use growth of potash fertilizers market The continuously growing population is driving the demand for high agricultural productivity, further driving the growth of the world potash fertilizers market. Increasing awareness among the farmers is further adding fuel to the growth of the market. Need for higher productivity in limited areas is fueling the demand for potash fertilizer market. Moreover, change in farming practices and technology resulting in increasing acceptance of modern farming and protected agriculture is boosting the growth of the potash fertilizers market.

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Report segmented as:

By type:

muriate of potash
potassium magnesium sulfate
sulfate of potash
potassium nitrate
others
By form:

granules
powder
liquid
others
By crop type:

grains & cereals
oil seeds & pulses
fruits & vegetables
others
Geographical analysis:

The world potash fertilizers market is segregated into North America, Europe, Asia Pacific and rest of the world (RoW). Europe is leading the market followed by North America. The U.S. is the largest contributor in North America to the potash fertilizers market. In Europe, Ireland and Belgium are dominating in consumption of potash fertilizers followed by Switzerland. Asia Pacific is estimated to be the fastest growing region for potash fertilizers market. 

Important market players:

Some of the major players operating 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.

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The Scope of the report:

This report offers the current product and services market evaluation and the future estimation of the market. It helps us understand the market better through size anticipation and CAGR calculation to estimate the next market. It has a broader segmentation for better understanding of the enterprising of the market at a low level by segregating the market into smaller sectors.

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