The potassic fertilizers global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Potassic Fertilizers Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The potassic fertilizer market size has grown strongly in recent years. It will grow from $23.94 billion in 2023 to $25.21 billion in 2024 at a compound annual growth rate (CAGR) of 5.3%. The growth in the historic period can be attributed to increasing agricultural activities, a rising population, growing demand for food, government subsidies and support for agriculture, awareness about soil fertility and crop yield, and improved distribution channels.
The potassic fertilizer market size is expected to see strong growth in the next few years. It will grow to $31.14 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%. The growth in the forecast period can be attributed to rising demand for organic farming, growing awareness about sustainable agriculture, climatic changes affecting agriculture, improved efficiency in fertilizer application, expansion of arable land, development of bio-based potassic fertilizers, and increasing international trade agreements and policies. Major trends in the forecast period include technological advancements in fertilizer application methods, advancements in controlled-release fertilizer technology, adoption of drip irrigation systems, expanding global trade in potassic fertilizers, the development of customized fertilizer blends, and innovations in potassic fertilizer formulations.
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Scope Of Potassic Fertilizers Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Potassic Fertilizers Market Overview
Market Drivers –
The growing demand for high-quality crops is expected to propel the growth of the potassic fertilizer market going forward. High-quality crops are agricultural products that exhibit superior characteristics such as higher yields, better nutritional value, enhanced resistance to pests and diseases, and improved marketability. The growing demand for high-quality crops is driven by increasing consumer awareness and preference for healthier, safer, and more nutritious food options. Potassic fertilizers enhance high-quality crops by improving their growth, yield, disease resistance, and overall quality through optimal potassium nutrition. For instance, in June 2024, according to the Organisation for Economic Co-operation and Development, a France-based intergovernmental organization, maize production increased from 459,961.18 thousand tons in 2022 to 499,551.58 thousand tons in 2023, reflecting a notable rise in output compared to 2022. Therefore, the growing demand for high-quality crops is driving the growth of the potassic fertilizer market.
Market Trends –
Major companies operating in the potassic fertilizers market are focusing on developing innovative products, such as organic fertilizer, to cure potassium (K) deficiency. Organic fertilizer is a natural soil amendment derived from plant, animal, or mineral sources, used to enrich soil nutrients and promote sustainable plant growth. For instance, in December 2022, Green Planet Bio Products, an India-based Organic Fertilizer manufacturer, launched the Power Plant POTASH (organic fertilizer). Power Plant POTASH by Green Planet Bio Products is an organic fertilizer with a high potassium content to promote strong root development and improve plant resistance to stress. It is designed for eco-friendly agriculture, enhancing nutrient uptake and supporting healthy crop growth without harmful chemicals.
The potassic fertilizers market covered in this report is segmented –
1) By Type: Potassium Chloride, Sulfate Of Potash (SOP), Potassium Nitrate, Other Types
2) By Form: Solid, Liquid
3) By Application: Cereals And Grains, Oilseeds And Pulses, Fruits And Vegetables
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Regional Insights –
North America was the largest region in the potassic fertilizers market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the potassic fertilizers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the potassic fertilizers market are BHP Group Limited, Nutrien Ag Solutions Inc., Yara International ASA, The Mosaic Company, Israel Chemicals Ltd., Sinochem Group Co Ltd., OCP Group, EuroChem Group AG, K+S AG, Tessenderlo Group NV, Borealis AG, Gujarat State Fertilizers & Chemicals Ltd., Arab Potash Company, American Vanguard Corporation, Zuari Agro Chemicals Ltd., Helm AG, Kazphosphate LLC, Intrepid Potash Inc., Migao Corporation, JSC Belaruskali
Table of Contents
1. Executive Summary
2. Potassic Fertilizers Market Report Structure
3. Potassic Fertilizers Market Trends And Strategies
4. Potassic Fertilizers Market – Macro Economic Scenario
5. Potassic Fertilizers Market Size And Growth
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27. Potassic Fertilizers Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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