Potash Fertilizers Market

Potash Fertilizers Market Size & Growth (2022 - 2027):

Potash Fertilizers Market was worth USD 28.59 billion in 2021 and is projected to grow at a CAGR of 4.6%, to reach USD 35.29 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 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 a 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 a decrease in crop yield, poor water utility, and a decrease in pest resistance.

Market Drivers:

The decrease of potash content in many of the agricultural soils due to aggressive farming over the years has increased the demand for potash fertilizers. Increasing requirements to enhance the yield of the crops in the limited land, increasing food demand due to the growing population, and increasing government initiatives to increase agricultural productivity are driving the market growth. However, the volatility of prices of potash fertilizers and growing demand for organic crop cultivation are hindering market growth.

POTASH FERTILIZERS MARKET REPORT COVERAGE:

Market Segmentation:

Potash Fertilizers Market - By Product Type:

• Sulfate of Potash

• Potassium Chloride
• Potassium Nitrate

Sulfate potash is the most common type of potash fertilizer used by farmers and hence this segment holds the largest share in the market.

Potash Fertilizers Market - By Crop Type:

• Fruits and Vegetables
• Cereals and Grains
• Oilseeds
• pulses

Fruits and vegetable segments hold the largest market share because due to the major role of potassium in the uptake of water and water retention. Also, it improves the nutrient value of fruits and vegetables.

Potash Fertilizers Market - By Form:

• Solid and liquid

Potash Fertilizers Market - By Application:

• Foliar
• Broadcasting
• Fertigation

The 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:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

The 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. 

Key Players:

• Eurochem
• Israel Chemicals Ltd
• Yara International ASA
• K+S Aktiengesellschaft
• SQM
• The Mosaic Company
• Sinofert Holdings
• Agrium Inc
• CF industries
• Potash Corporation