Europe Potash Fertilizers Market was worth USD 2.72 billion in 2021 and is projected to grow at a CAGR of 4.4%, to reach USD 3.37 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.
Europe 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.
Europe 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.
Europe 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.
Europe Potash Fertilizers Market - By Form:
Europe 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:
Europe:
Germany is the largest agricultural producer in Europe and France is the country with largest agricultural land. Hence, these two countries accounted for majority share in potash fertilizers market.
Key Players:
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