The Potash Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
Learn More On The Potash Market:
https://www.thebusinessresearchcompany.com/report/potash-global-market-report
According to The Business Research Company’s Potash Global Market Report 2024, The potash market size has grown strongly in recent years. It will grow from $22.93 billion in 2023 to $24.32 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. The growth in the historic period can be attributed to global agriculture demand, population growth, nutrient management, soil quality improvement, cyclical nature of agriculture.
The potash market size is expected to see strong growth in the next few years. It will grow to $30.04 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%. The growth in the forecast period can be attributed to global food security concerns, technological agriculture adoption, biofuel production, changing dietary patterns, climate change adaptation. Major trends in the forecast period include bio-based potash solutions, digital agriculture integration, strategic alliances and mergers, government initiatives and subsidies, potash in water-soluble fertilizers.
The growth in the potash market is due to the increasing demand for mining in North America. For instance, in February 2023, according to Glacier Media Group, a Canada-based media company, US mines produced non-fuel mineral products worth around $98.2 billion in 2022, an estimated $3.6 billion more than the 2021 revised total of $94.6 billion.
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The potash market covered in this report is segmented –
1) By Type: Potash-Agriculture, and Potash-Industrial
2) By Mining Type: Underground Mining, Surface Mining
Potash solution mining techniques are being utilized for potash to improve extraction efficiency and increase profitability. Potash solution mining involves boring injection and recovery wells into the ground. A heated brine solution is injected into the deposit to dissolve the potash salts. The dissolved salts are then extracted to the surface and potash is separated and conditioned, which is the major trend in the potash market.
The potash market report table of contents includes:
1. Executive Summary
2.Potash Market Characteristics
3.Potash Market Trends And Strategies
4.Potash Market analysis
5.Potash Market Size And Growth
6.Potash Segmentation
7. Potash Regional And Country Analysis
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27.Potash Competitive Landscape And Company Profiles
28.Potash Key Mergers And Acquisitions
29.Potash Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- Vale SA
- Nutrien Ltd.
- PotashCorp
- The Mosaic Company
- Sociedad Quimica y Minera de Chile S.A.
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