Potash Fertilizer Market - Growth, Trends, and Forecast (2020 - 2025)
|出版商||Mordor Intelligence Pvt Ltd||商品編碼||907124|
|出版日期||內容資訊||英文 185 Pages
|鉀肥的全球市場:成長，趨勢，及預測(2019年∼2024年) Potash Fertilizer Market - Growth, Trends, and Forecast (2020 - 2025)|
|出版日期: 2020年04月01日||內容資訊: 英文 185 Pages||
The Global Potash Fertilizer Market was valued at USD 19.70 billion in 2018 and is projected to reach USD 25.05 billion in the year 2024, witnessing a CAGR of 4.37% over the forecast period of 2019-2024.
Potash quantity in the soil is quantified in terms of potassium dioxide (K2O). The current report estimates the size of the potash fertilizer market at the farmer level. The most common form of potash fertilizers used by farmers across the world is muriate of potash (potassium chloride). Another form of potash fertilizer available in markets is sulfate of potash (potassium sulfate), which is used to a lesser extent. The report segments the market by type into these two forms and by application into different crop types.
Potash Deficiencies in Major Cereal Crops Driving Demand
Grains and cereals are crops that require high dosages of potassium. Since potassium is an element that moves quickly within the plant tissue, the deficiency is first noticed in older leaves. In the case of rice, the margins of older leaves turn yellowish-brown or dark brown necrotic spots appear on older leaves. In the case of maize and other cereals such as sorghum, firing or scorching appears on the outer edge of older leaves. Underneath the soil, poor root development and defective nodal tissues are observed. Potassium deficiency is commonly noticed in most soils across developing markets, which grow large acreages of rice, maize, and wheat.
Asia Pacific Leads the Global Potash Fertilizer Market
Potassium is mined from salt deposits. Large potash deposits are found in Russia, which is the world's largest producer of this nutrient. Owing to large salt deposits in Russia, Asia-Pacific accounts for the largest share of the potash fertilizer segment. China, Indonesia, Malaysia, and India are the largest potash exporters in the international market.
The countries in Asia are recoding growth in the potash fertilizer segment, as they are witnessing increasing requirement for crops. In addition, these countries have historically been under-applied potash fertilizer, as compared to scientifically recommended levels of potash fertilizer application.
The potash fertilizer industry is highly consolidated with top players occupying the majority of the market. In 2018, the top companies involved in the potash fertilizers market at the global level were Nutrien Limited, The Mosaic Company, JSC Belaruskali, Uralkali PJSC, Intrepid Potash Inc, among others.