Global Potash Fertilizer Market: By types (Sulfate (SOP), muriate (MOP), and nitrate of potash fertilizers), By applications (cereals & grains, fruits & vegetables, oilseeds & pulses, and turf & decorative), By regions (North America, Asia Pacific, Europe, Latin America, and Middle East and Africa)
REPORT HIGHLIGHT
The potash fertilizers market is expected to reach USD 26 Billion by 2022. In the projection period of 2020 to 2027, the market is anticipated to increase at a pace of 4.60 percent.
Besides nitrogen and phosphorus, potash is one of the three main macronutrients necessary to improve plant health. It is a naturally occurring chemical that is continually regenerated in the environment. The name is derived from "pot-ash," which refers to plant ashes soaked in water in a pot. Potassium is a key nutrient that plants require in large amounts. The element controls the opening and shutting of stomata, which controls carbon dioxide uptake. Other activities of potassium include the stimulation of enzymes and the synthesis of Adenosine Triphosphate (ATP).
MARKET DYNAMICS
The growing need for high-performance fertilizers and the increasing application of fertilizers is driving the market forward. The addition of potash fertilizers to the mix improves the overall quality of the plant and extends its shelf life. The rise in demand is fuelled by favorable socioeconomic and demographic factors such as urbanization, population growth, and disposable incomes. Additionally, the increase in living standards in developing countries such as India, China, and Brazil is also propelling the market growth and is expected to continue over the forecast period. Due to price changes, the fertilizer industry saw a minor decrease in demand during the global economic crisis. However, this did not have a long-term impact on the market's overall growth. The expansion of the fertilizer business aided the rise of several economies, notably Brazil, China, and India.
Furthermore, the large increase in the world population suggests an increase in food demand, which will boost demand for potash for fertilizer production. Growing consumer health consciousness due to their hectic lifestyles necessitates healthy food consumption, increased cattle feed consumption, and fertilizers in the soil to improve the color, taste, and texture of food crops have all contributed to the global market growth. Crop variability and climatic circumstances in different locations are major factors in the development of the fertilizer industry. Growing demand for crops for other purposes, such as biofuel production, is anticipated to add to the already restricted supply of grains for human consumption. This aspect is likely to play a significant part in propelling the market to new heights.
Sluggish growth is expected over the projection period due to strict government requirements for the licensing of fertilizers. Furthermore, demand has decreased due to price fluctuations, which has stifled the market's expansion. Additionally, an increase in organic food consumption, unfavorable regulatory requirements, and the lack of standards and procedures are possible constraints to the global fertilizers market's overall growth. Nonetheless, rising agricultural investments, the need to improve pasture production, and untapped potential in new markets all point to good development prospects.
MARKET SEGMENTATION
The global potash fertilizer industry can be segmented on fertilizer types and agricultural applications.
TYPE TAKEAWAY
Sulfate (SOP), muriate (MOP), and nitrate of potash fertilizers are three fertilizers. Potassium chloride, commonly known as potash muriate, is a common fertilizer. It's a popular potassium source that's frequently utilized in agriculture. Potassium muriate contains about half of the potassium found in urine.
APPLICATION TAKEAWAY
Potash fertilizers are divided into four categories of applications: cereals & grains, fruits & vegetables, oilseeds & pulses, and turf & decorative. Grains and grains require a lot of potassium. Potassium shortage is initially recognized in older leaves because it travels fast through plant tissue. The edges of older rice leaves become yellowish-brown, and dark brown necrotic patches form on the leaves. Firing or scorching develops on the outer edge of older leaves of maize and other grains such as sorghum. Poor root growth and faulty nodal tissues might be found beneath the soil.
REGIONAL TAKEAWAYS
The global potash fertilizer industry can be analyzed by North America, Asia Pacific, Europe & Russia, Latin America, and the Middle East and Africa. The worldwide potassium oxide reserves are projected to be 210.0 billion metric tonnes, with 16.0 billion metric tonnes recoverable using present methods. Canada has deposits totaling 10.0 billion metric tonnes of the 16 billion metric tonnes, most of which are located in Saskatchewan. Russia and Belarus, with 2.2 billion metric tonnes and 1.0 billion metric tonnes, respectively, control the world potash supply and have direct control over fertilizer pricing. Potassium is a mineral that may be found in salt deposits. Russia, the world's top producer of this nutrient, has extensive potash reserves. Asia-Pacific accounts for the biggest proportion of the fertilizer market, owing to huge salt reserves in Russia. Potash exporters on the worldwide market include China, Indonesia, Malaysia, and India. Potash fertilizer demand is increasing throughout Asia, thanks to rising agricultural needs.
Furthermore, compared to scientifically advised amounts of fertilizer application, many nations have historically underapplied potash fertilizer. Brazil continues to dominate the Latin American market. Because of the growing need for higher agricultural yields and productivity, Brazil is anticipated to be the largest consumer and producer of this type of fertilizer. Another important issue expected to impact the country's market growth is rising food consumption due to fast population expansion.
COVID-19 IMPACT
The COVID-19 pandemic had a minor influence on the fertilizer industry, owing to shipping constraints. The government has exempted all sorts of agricultural operations from the lockdown restrictions; thus, the corona outbreak has had no effect. Due to panic buying behavior, agrochemical firms have generated double-digit profits compared to the previous year. A drop in wheat production, on the other hand, is likely to dampen the industry's prospects. According to the USDA, the worldwide wheat output is expected to be 772.64 million metric tonnes in January 2021, down 1.02 million tonnes from the previous month's projection. Furthermore, with new government rules, the environmental impact of potash fertilizers will be scrutinized more closely. Post pandemic panic increase in demand for food items and primary sector status of Agri-ancillary industries are some of the factors expected to contribute to the market's steady growth during the pandemic period's volatility.
KEY PLAYERS
The global business is extremely concentrated, with the top companies controlling the vast majority of the market share. The Mosaic Company, Nutrien Limited, Intrepid Potash Inc., Uralkali PJSC, Agrium, Yara International ASA, Sinofert Holdings Ltd., PotashCorp Corporation of Saskatchewan Inc., EuroChem Group AG, SAFCO, JSC Belaruskali BASF, K+S Aktiengesellschaft Borealis AG, and Israel Chemicals are some of the prominent players in the industry.
Since the worldwide demand for potash, a critical mineral for maize and sugarcane crops, has progressively increased, Nutrien announced its plan in November 2019 to increase its yearly production capacity by 5 million tonnes beyond 2023. Because the sector is primarily a commodities business, R&D spending will be limited. To become full-service plant nutrition solution providers, a growing number of fertilizer firms are investing in non-traditional sectors. In December 2020, Uralchem, for example, purchased a controlling interest in Uralkali. It has the potential to assist firms in improving their manufacturing and logistical efficiency and expanding their potassium range.
The market size and forecast for each segment and sub-segments has been considered as below:
- Historical Year – 2016 to 2019
- Base Year – 2020
- Projected Year – 2021 to 2027
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL POTASH FERTILIZER MARKET KEY PLAYERS
- The Mosaic Company
- Nutrien Limited
- Intrepid Potash Inc.
- JSC Belaruskali
- Uralkali PJSC
- Agrium
- Yara International ASA
- Borealis AG
- Sinofert Holdings Ltd.
- Potashcorp Coportation of Saskatchewan Inc.
- EuroChem Group AG
- K+S Aktiengesellschaft
- SAFCO
- BASF
- Israel Chemicals
GLOBAL POTASH FERTILIZER MARKET, BY TYPE
- Sulfate (SOP)
- Muriate (MOP)
- Nitrate of potash fertilizers
GLOBAL POTASH FERTILIZER MARKET, BY APPLICATION
- Cereals & grains
- Fruits & vegetables
- Oilseeds & pulses
- Turf & decorative.
GLOBAL POTASH FERTILIZER MARKET, BY REGIONS
- North America
- The U.S.
- Canada
- Europe
- Germany
- France
- Italy
- Spain
- United Kingdom
- Rest of Europe
- Asia Pacific
- India
- China
- South Korea
- Japan
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- The Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- Rest of MEA
TABLE OF CONTENT
1. POTASH FERTILIZER MARKET OVERVIEW
1.1. Study Scope
2. EXECUTIVE SUMMARY
2.1. Market Snippet
2.1.1. Market Snippet by Types
2.1.2. Market Snippet by Applications
2.1.3. Market Snippet by Region
2.2. Competitive Insights
3. POTASH FERTILIZER KEY MARKET TRENDS
3.1. Market Drivers
3.1.1. Impact Analysis of Market Drivers
3.2. Market Restraints
3.2.1. Impact Analysis of Market Restraints
3.3. Market Opportunities
3.4. Market Future Trends
4. POTASH FERTILIZER APPLICATION STUDY
4.1. Porter’s Five Forces Analysis
4.2. Marketing Strategy Analysis
4.3. Growth Prospect Mapping
4.4. Regulatory Framework Analysis
5. POTASH FERTILIZER MARKET: COVID-19 IMPACT ANALYSIS
5.1. Pre-COVID-19 Impact Analysis
5.2. Post-COVID-19 Impact Analysis
5.2.1. Top Performing Segments
5.2.2. Marginal Growth Segments
5.2.3. Top Looser Segments
5.2.4. Marginal Loss Segments
6. POTASH FERTILIZER MARKET LANDSCAPE
6.1. Market Share Analysis, 2019
6.2. Key Innovators Analysis
6.3. Breakdown Data, by Key Manufacturer
6.3.1. Established Players’ Analysis
6.3.2. Emerging Players’ Analysis
7. POTASH FERTILIZER MARKET – BY TYPES
7.1. Overview
7.1.1. Segment Share Analysis, By Type, 2020 & 2027 (%)
7.2. Sulfate (SOP)
7.2.1. Overview
7.2.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
7.3. Muriate (MOP), and nitrate of potash fertilizers
7.3.1. Overview
7.3.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
7.4. Nitrate of potash fertilizers
7.4.1. Overview
7.4.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
8. POTASH FERTILIZER MARKET – BY APPLICATIONS
8.1. Overview
8.1.1. Segment Share Analysis, By Applications, 2020 & 2027 (%)
8.2. Cereals & grains
8.2.1. Overview
8.2.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
8.3. Pulses & Oilseeds
8.3.1. Overview
8.3.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
8.4. Fruits & Vegetables
8.4.1. Overview
8.4.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
8.5. Turf & decorative
8.5.1. Overview
8.5.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9. POTASH FERTILIZER MARKET– BY GEOGRAPHY
9.1. Introduction
9.1.1. Segment Share Analysis, By Geography, 2020 & 2027 (%)
9.2. North America
9.2.1. Overview
9.2.2. Key Manufacturers in North America
9.2.3. North America Market Size and Forecast, By Country, 2016 - 2027 (US$ Billion)
9.2.4. North America Market Size and Forecast, By types, 2016 - 2027 (US$ Billion)
9.2.5. North America Market Size and Forecast, By Applications, 2016 - 2027 (US Billion)
9.2.6. U.S.
9.2.6.1. Overview
9.2.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.2.6.3. U.S. Market Size and Forecast, By Types, 2016 - 2027 (US$ Billion)
9.2.6.4. U.S. Market Size and Forecast, By Applications, 2016 - 2027 (US Billion)
9.2.7. Canada
9.2.7.1. Overview
9.2.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.2.7.3. Canada Market Size and Forecast, By Types, 2016 - 2027 (US$ Billion)
9.2.7.4. Canada Market Size and Forecast, By Applications, 2016 - 2027 (US Billion)
9.3. Europe
9.3.1. Overview
9.3.2. Key Manufacturers in Europe
9.3.3. Europe Market Size and Forecast, By Country, 2016 - 2027 (US$ Billion)
9.3.4. Europe Market Size and Forecast, By Types, 2016 - 2027 (US$ Billion)
9.3.5. Europe Market Size and Forecast, By Applications, 2016 - 2027 (US Billion)
9.3.6. Germany
9.3.6.1. Overview
9.3.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.3.6.3. Germany Market Size and Forecast, By Types, 2016 - 2027 (US$ Billion)
9.3.6.4. Germany Market Size and Forecast, By Applications, 2016 - 2027 (US Billion)
9.3.7. Italy
9.3.7.1. Overview
9.3.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.3.7.3. Italy Market Size and Forecast, By Types, 2016 - 2027 (US$ Billion)
9.3.7.4. Italy Market Size and Forecast, By Applications, 2016 - 2027 (US Billion)
9.3.8. United Kingdom
9.3.8.1. Overview
9.3.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.3.8.3. U.K. Market Size and Forecast, By Types, 2016 - 2027 (US$ Billion)
9.3.8.4. U.K. Market Size and Forecast, By Applications, 2016 - 2027 (US Billion)
9.3.9. France
9.3.9.1. Overview
9.3.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.3.9.3. France Market Size and Forecast, By Types, 2016 - 2027 (US$ Billion)
9.3.9.4. France Market Size and Forecast, By Applications, 2016 - 2027 (US Billion)
9.3.10. Rest of Europe
9.3.10.1. Overview
9.3.10.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.3.10.3. Rest of Europe Market Size and Forecast, By Types, 2016 - 2027 (US$ Billion)
9.3.10.4. Rest of Europe Size and Forecast, By Applications, 2016 - 2027 (US Billion)
9.4. Asia Pacific
9.4.1. Overview
9.4.2. Key Manufacturers in Asia Pacific
9.4.3. Asia Pacific Market Size and Forecast, By Country, 2016 - 2027 (US$ Billion)
9.4.4. Asia Pacific Market Size and Forecast, By Types, 2016 - 2027 (US$ Billion)
9.4.5. Asia Pacific Market Size and Forecast, By Applications, 2016 - 2027 (US Billion)
9.4.6. India
9.4.6.1. Overview
9.4.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.4.6.3. India Market Size and Forecast, By Types, 2016 - 2027 (US$ Billion)
9.4.6.4. India Market Size and Forecast, By Applications, 2016 - 2027 (US Billion)
9.4.7. China
9.4.7.1. Overview
9.4.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.4.7.3. China Market Size and Forecast, By Types, 2016 - 2027 (US$ Billion)
9.4.7.4. China Market Size and Forecast, By Applications, 2016 - 2027 (US Billion)
9.4.8. Japan
9.4.8.1. Overview
9.4.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.4.8.3. Japan Market Size and Forecast, By Types, 2016 - 2027 (US$ Billion)
9.4.8.4. Japan Market Size and Forecast, By Applications, 2016 - 2027 (US billion)
9.4.9. Rest of APAC
9.4.9.1. Overview
9.4.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.4.9.3. Rest of APAC Market Size and Forecast, By Types, 2016 - 2027 (US$ Billion)
9.4.9.4. Rest of APAC Market Size and Forecast, By Applications, 2016 - 2027 (US Billion)
9.5. Latin America
9.5.1. Overview
9.5.2. Key Manufacturers in Latin America
9.5.3. Latin America Market Size and Forecast, By Country, 2016 - 2027 (US$ Billion)
9.5.4. Latin America Market Size and Forecast, By Types, 2016 - 2027 (US$ Billion)
9.5.5. Latin America Market Size and Forecast, By Applications, 2016 - 2027 (US Billion)
9.5.6. Brazil
9.5.6.1. Overview
9.5.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.5.6.3. Brazil Market Size and Forecast, By Types, 2016 - 2027 (US$ Billion)
9.5.6.4. Brazil Market Size and Forecast, By Applications, 2016 - 2027 (US Billion)
9.5.7. Mexico
9.5.7.1. Overview
9.5.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.5.7.3. Mexico Market Size and Forecast, By Types, 2016 - 2027 (US$ Billion)
9.5.7.4. Mexico Market Size and Forecast, By Applications, 2016 - 2027 (US Billion)
9.5.8. Argentina
9.5.8.1. Overview
9.5.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.5.8.3. Argentina Market Size and Forecast, By Types, 2016 - 2027 (US$ Billion)
9.5.8.4. Argentina Market Size and Forecast, By Applications, 2016 - 2027 (US Billion)
9.5.9. Rest of LATAM
9.5.9.1. Overview
9.5.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.5.9.3. Rest of LATAM Market Size and Forecast, By Types, 2016 - 2027 (US$ Billion)
9.5.9.4. Rest of LATAM Market Size and Forecast, By Applications, 2016 - 2027 (US Billion)
9.6. Middle East and Africa
9.6.1. Overview
9.6.2. Key Manufacturers in Middle East and Africa
9.6.3. Middle East and Africa Market Size and Forecast, By Country, 2016 - 2027 (US$ Billion)
9.6.4. Middle East and Africa Market Size and Forecast, By Types, 2016 - 2027 (US$ Billion)
9.6.5. Middle East and Africa Market Size and Forecast, By Applications, 2016 - 2027 (US$ Billion)
9.6.6. Saudi Arabia
9.6.6.1. Overview
9.6.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.6.6.3. Saudi Arabia Market Size and Forecast, By Types, 2016 - 2027 (US$ Billion)
9.6.6.4. Saudi Arabia Market Size and Forecast, By Applications, 2016 - 2027 (US Billion)
9.6.7. United Arab Emirates
9.6.7.1. Overview
9.6.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.6.7.3. U.A.E. Market Size and Forecast, By Types, 2016 - 2027 (US$ Billion)
9.6.7.4. U.A.E. Market Size and Forecast, By Applications, 2016 - 2027 (US Billion)
9.6.8. Rest of MEA
9.6.8.1. Overview
9.6.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.6.8.3. Rest of MEA Market Size and Forecast, By Types, 2016 - 2027 (US$ Billion)
9.6.8.4. Rest of MEA Market Size and Forecast, By Applications, 2016 - 2027 (US Billion)
10. KEY VENDOR ANALYSIS
10.1. Competitive Dashboard
10.2. Company Profiles
10.2.1. The Mosaic Company
10.2.1.1. Company Overview
10.2.1.2. Financial Performance
10.2.1.3. Product Benchmarking
10.2.1.4. Strategic Initiatives
10.2.2. Nutrien Limited
10.2.3. Intrepid Potash Inc.
10.2.4. JSC Belaruskali
10.2.5. Uralkali PJSC
10.2.6. Agrium
10.2.7. Yara International ASA
10.2.8. Borealis AG
10.2.9. Sinofert Holdings Ltd.
10.2.10. PotashCorp Corporation of Saskatchewan Inc.
10.2.11. EuroChem Group AG
10.2.12. K+S Aktiengesellschaft
10.2.13. SAFCO
10.2.14. BASF
10.2.15. Israel Chemicals
11. 360 DEGREE ANALYST VIEW
12. APPENDIX
12.1. Research Methodology
12.2. References
12.3. Abbreviations
12.4. Disclaimer
12.5. Contact Us
