Asia Pacific Potash Fertilizers Market was worth USD 8.58 billion in 2021 and is projected to grow at a CAGR of 4.5%, to reach USD 10.69 billion by 2026.
The fertilizers in which has potassium as the major component are known as potash fertilizers. Potassium is one of the three macronutrients required by the plants and helps plants in the water uptake and synthesis of plant sugars. Potassium is available in foods derived from plants and is very useful for humans as well.
Generally, plants absorb potassium from the soil. However, in certain types of soils, potassium content is low or non-existent. Potash is manufactured in commercial scale as fertilizer to be used in such soils. It is also used to improve the yield of the crops and the nutrient value. Potassium deficiency in plants results in decrease in the crop yield, poor water utility and decrease in pest resistance.
Asia Pacific Potash Fertilizers Market Drivers:
Decrease of potash content in many of the agricultural soils due to the aggressive farming over the years has increased the demand for potash fertilizers. Increasing requirement to enhance the yield of the crops in the limited land, increasing food demand due to the growing population and increasing in government initiatives to increase agricultural productivity are driving the market growth. However, volatility of prices of potash fertilizers and growing demand for organic crop cultivation are hindering the market growth.
Asia Pacific Potash Fertilizers Market - By Product Type:
Sulfate of Potash
Sulfate of potash is the most common type of potash fertilizer used by farmers and hence this segment holds the largest share in the market.
Asia Pacific Potash Fertilizers Market - By Crop Type:
Fruits and vegetables segment hold the largest market share because due to the major role of potassium in uptake of water and water retention. Also, it improves the nutrient value of the fruits and vegetables.
Asia Pacific Potash Fertilizers Market - By Form:
Asia Pacific Potash Fertilizers Market - By Application Method:
Fertigation segment is the fastest growing method of fertilizer application due to the increasing demand for micro irrigation in agriculture, especially in large scale farming.
The Market is Geographically divided into:
On the basis of region, the Asia Pacific Potash Fertilizers market is segmented into China, India, Japan, Australia and South Korea. Asia Pacific leads the Potash Fertilizers market. It is due to the large usage of potash fertilizers in China and India which are the countries with large agricultural land. Also, the high demand for water soluble fertilizers in South East Asian countries are driving the market in this region.
Key Players:
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