Potassium Chloride Market By Type (Powder, Crystal, Big Granule) Application (Fertilizer Applications, Industrial Applications, Pharmaceutical Applications and Others )- Global Opportunity Analysis and Industry Forecast, 2020 – 2030

Potassium Chloride Market held USD XXX billion in 2020 and is to grow with a CAGR of XXX from 2020-2030. Potassium chloride is odorless and colorless salt of metal halide which occurs naturally as a result of ancient seabed evaporation. The potassium chloride salts are commonly known as potash muriate (MOP) that is used as fertilizers. global potassium chloride market Potassium chloride, consists primarily of potassium and chlorine, is a naturally occurring, odorless metal salt along with a colorless, crystalline look. It is formed by the evaporation of prehistoric beds at sea. The compound is known as Potash Muriate, which is typically used as a fertilizer in conjunction with its use. It is less soluble in ethanol, and is extremely water soluble. After phosphorus and nitrogen, potassium is the third major plant and crop nutrient. Potash is the common name for potassium-containing diverse mined and manufactured salts. Potassium chloride responsible for most of potassium used in agriculture industry. Other potassium products which are widely used include potassium sulfate, potassium nitrate and potassium magnesium salts.

Market Dynamics and Factors:

The global potassium chloride market growth is fuelling because of the increase in demand for potash fertilizers due to their properties that help the enhancement of flavors, color and texture for food crops. Therefore, the fertilizer industry is experiencing positive growth due to higher demand from developed and developing countries based on improving agricultural sectors and is expected to be global potassium chloride market trend over the forecast period. Countries like India and China are fueling fertilizer adoption, and this is expected to accelerate global potassium chloride market growth. Fluctuations in raw material prices, however, lead to uncertainty for farmers, which is a key constraint to global potassium chloride market size growth. Nonetheless, the bio-based fertilizer adoption trend is generating lucrative growth opportunities for the main players operating in the potassium chloride market.

Market Segmentation:

Depending upon the resin type, the global potassium chloride market is segmented into powder, crystal, big granule. On the basis of application, the market is categorized into the fertilizer applications, industrial applications, pharmaceutical applications and others. Geographic bifurcation of global potassium chloride market includes regions comprising North America, Europe, Asia-Pacific, and RoW.

Geographic Analysis:

Asia-Pacific holds the highest global potassium chloride market share and it's demand is stepping up to increase agricultural productivity, driving the global potassium chloride market growth. Due to these initiatives, the global potassium chloride industry is expected to expand over the forecast period, to achieve higher yield production, using modern agricultural practices. Additionally, policy policies such as farm subsidies and rising minimum prices in developing countries such as India and China will make them a part of global potassium chloride market trend. However, due to advanced farming technology North America region is likely to account for the visible share. Also, Europe has moderate global potassium chloride market share.

Competitive Scenario:

The key players of global potassium chloride industry are SQM (Sociedad Química y Minerade Chile), Nutrien Ltd.,  Agrium Inc.,  ICL Fertilizers Ltd., K+S KALI GmbH,The Mosaic Company, ARAB POTASH.,  Uralkali, Sinofert Holdings, Potash Corporation of Saskatchewan Inc., JSC Belaruskali, and IMC Global Inc.

Potassium Chloride Market Report Scope