Industry Background:
Fertilizers are the chemicals used in the agricultural industry to encourage crop yield. They can be manufactured from nitrogen, potassium, sodium and many other chemicals. Potassic fertilizers are chemical fertilizers with the potassium content(K+). The potassium fertilizers can be bifurcated into muriate of potash (KCI) and sulfate of potash (K2S04), both of them are water-soluble and readily available across the globe. However, the growing trend towards organic diet and numerous side effects associated with the potassic fertilizers might stagnate the demand.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Billion) |
Key Companies Profiled | Yara International ASA (Norway), Agrium Inc. (Canada), Potash Corporation of Saskatchewan Inc. (Canada), EuroChem Group AG (Switzerland), The Mosaic Company (United States), JSC Belaruskali (Belarus), HELM AG (Germany), Israel Chemicals Ltd.(Israel), Sociedad Química y Minera de Chile S.A (Chile) and Borealis AG (Austria) |
According to AMA, the market for Potassic Fertilizer is expected to register a CAGR of 4.51% during the forecast period to 2030. This growth is primarily driven by Growing Need for Increased Crop Yield Across the Globe and Raising Awareness about Soil Profile and Nutritional Balance, Backed By State Support.
Globally, a noticeable market trend is evident Upsurging Need for Maximized Productivity Using Limited Land Area
The Fertilizers & Agricultural Chemicals sector in the Asia Pacific region has been increasing at a sustainable rate, and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as Yara International ASA (Norway), Agrium Inc. (Canada), Potash Corporation of Saskatchewan Inc. (Canada), EuroChem Group AG (Switzerland), The Mosaic Company (United States), JSC Belaruskali (Belarus), HELM AG (Germany), Israel Chemicals Ltd.(Israel), Sociedad Química y Minera de Chile S.A (Chile) and Borealis AG (Austria), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. Key players are adopting numerous strategies to gain market attention and to increase their market share, this strategy can be listed as increasing product portfolio, making partnerships to adopt certain technologies, and acquiring small players to finish the competition in the future. As well as investing money in the R&D sector to make technical upgrades to the product.
Key Developments in the Market:
In August 2023, Nutrien Ltd., the world's largest potash producer, announced a joint venture with Anglo American to develop the KOA potash project in Saskatchewan, Canada. This project is expected to become one of the world's largest potash mines.
In September 2023, Nutrien launched a new line of slow-release potash fertilizers, designed to improve nutrient use efficiency and reduce fertilizer runoff.
Regulatory Insights:
“According to the government of India, it provides Essential Commodities Act, 1955, where Biofertiliser means the product containing carrier-based (solid or liquid) living microorganisms that are agriculturally useful in terms of nitrogen fixation, phosphorus solubilization or nutrient mobilization, to increase the productivity of the soil.” and Additionally, Regulatory body FAO deals with informing of fertilizer laws and regulations regarding fertilizer production, import or trade. Additionally, all imports of fertilizers should obey the standards enforced by the Tanzania Fertilizer Regulatory Authority (TFRA)
Influencing Trend:
Upsurging Need for Maximized Productivity Using Limited Land Area and Growing R&D in Minimizing the Side Effects of Potassic Fertilizers
Market Growth Drivers:
Growing Need for Increased Crop Yield Across the Globe and Raising Awareness about Soil Profile and Nutritional Balance, Backed By State Support
Challenges:
Uncertainty In Agricultural Production, Costs Incurred, and Environmental Policies and Stringent Government Regulations on Fertilizers Manufacturers
Restraints:
Increasing Potassic Fertilizers Prices Over the Upcoming Years Due to Increasing Prices for Potassium Chloride and Upsurging Adoption of Organic Food Consumption might Stagnate the Demand
Opportunities:
Rising Agricultural Investments across the Globe, Increasing Demand in Producing Grains and Cereals and Growing Availability across the Developing Economies
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Potassic Fertilizer Market
- Analysis about New Entrants in Potassic Fertilizer Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Potassic Fertilizer Study Sheds Light on
The Potassic Fertilizer Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Potassic Fertilizer industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Potassic Fertilizer industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.