Overview and Scope
Liquid potassium fertilizers refer to water-soluble solutions that contain a high concentration of potassium in a liquid form that is easily absorbed by plants. They are used to provide potassium to plants to support their growth, flowering, and fruiting processes.
Sizing and Forecast
The liquid potassium fertilizers market size has grown strongly in recent years. It will grow from $1.81 billion in 2023 to $1.91 billion in 2024 at a compound annual growth rate (CAGR) of 5.4%. The growth in the historic period can be attributed to increased global population, intensive farming practices, shift in dietary patterns, water-soluble fertilizers adoption, focus on crop yield and quality.
The liquid potassium fertilizers market size is expected to see strong growth in the next few years. It will grow to $2.33 billion in 2028 at a compound annual growth rate (CAGR) of 5.0%. The growth in the forecast period can be attributed to global expansion of agriculture, demand for high-value crops, environmental sustainability concerns, precision agriculture adoption, government initiatives in agriculture. Major trends in the forecast period include market expansion in developing agricultural regions, adoption of drip irrigation systems, government initiatives supporting sustainable agriculture, investments in research and development, enhanced nutrient uptake efficiency.
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Segmentation & Regional Insights
The liquid potassium fertilizers market covered in this report is segmented –
1) By Nutrient Type: Sulfate Of Potash, Potassium Acetate, Potassium Chloride, Potassium Nitrate, Potassium Carbonate, Potassium Citrate, Potassium Format
2) By Type: Organic, Synthetic
3) By Crop Type: Cereals And Grains, Fruits And Vegetables, Oilseeds And Pulses, Other Crop Types
4) By Mode Of Application: Soil, Foliar, Fertigation, Other Mode Of Applications
Asia-Pacific was the largest region in the liquid potassium fertilizers market in 2023. The regions covered in the liquid potassium fertilizers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
Rising demand for agrochemicals is expected to propel the growth of the liquid potassium fertilizers market going forward. Agrochemicals refer to chemical substances used in agricultural practices to improve crop production, protect crops from pests, diseases, and weeds, and preserve harvested crops. It includes fertilizers, pesticides, herbicides, insecticides, fungicides, and other chemicals used in agriculture. Liquid potassium fertilizers are commonly used agrochemicals to provide crops with potassium, which is an essential nutrient for plant growth and development. Potassium is required for many plant processes, including photosynthesis, the regulation of water balance, and the activation of enzymes. Deficiencies in potassium can lead to stunted growth, reduced yields, and lower-quality crops. So, these factors boost the liquid potassium fertilizers market. For instance, in October 2023, according to Agronews, a China-based agrochemical news provider, the aggregate sales of pesticides among the major 20 reached US$85.762 billion in the fiscal year 2022, up 18.18% from US$72.569 billion in the previous year. Therefore, the rising demand for agrochemicals is driving the liquid potassium fertilizers market.
Key Industry Players
Major companies operating in the liquid potassium fertilizers market report are Yara International Asa, Agro Liquid, Nufarm Ltd., Nutrien Ltd., EuroChem Group AG, Sociedad Química y Minera de Chile, The Mosaic Company, Israel Chemical Ltd., Foxfarm Soil And Fertilizer Co., Kugler Company, K+S Aktiengesellschaft, Valagro S.p.A, Compo Expert GmbH, Adama Agricultural Solutions, BASF SE, CF Industries Holdings Inc., Agrium Inc., Haifa Group, Helm AG, Sinofert Holdings Limited, Van Iperen International, Plant Food Company Inc., Miller Chemical & Fertilizer LLC, Nachurs Alpine Solutions, Agro Bio Chemicals, Agzon Agro, Plant Fuel Nutrients LLC, Nutri-Tech Solutions, Valagro SPA, Uralchem Holding PLC
The liquid potassium fertilizers market report table of contents includes:
1. Executive Summary
2. Liquid Potassium Fertilizers Market Characteristics
3. Liquid Potassium Fertilizers Market Trends And Strategies
4. Liquid Potassium Fertilizers Market – Macro Economic Scenario
5. Global Liquid Potassium Fertilizers Market Size and Growth
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31. Global Liquid Potassium Fertilizers Market Competitive Benchmarking
32. Global Liquid Potassium Fertilizers Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Liquid Potassium Fertilizers Market
34. Liquid Potassium Fertilizers Market Future Outlook and Potential Analysis
35. Appendix
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