The global potash fertilizers market is expected to reach USD 31.81 Billion by 2027, according to a new report by Reports and Data. Growing demand for potash fertilizers for high crop yield is one of the significant factors influencing the market growth. Fertilizers allow farmers to increase their crop yield by boosting the productivity of the agricultural land, as well as can make an otherwise less productive land produce substantial yields. Fertilizers are formulated to support the yield of certain plants by allowing the plants to absorb the essential macro and micronutrient easily. The worldwide demand for fertilizers has witnessed a decent pace of growth, with the demand being more than 138 million tons in the year 2000 and rose to around 210 million tons in the year 2019.
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Leading Players Profiled in the Report Include:
The Mosaic Company, Helm AG, Agrium Inc., JSC Belaruskali, Israel Chemicals Ltd., Eurochem Group AG, Borealis AG, Potash Corporation of Saskatchewan Inc., Yara International ASA, and Sociedad Química Y Minera De Chile S.A. (SQM), among others.
The growing global population trend indicates an increasing demand for food, which is likely to increase in the range of 59.0% to 98.0% by 2050, and in turn, would drive the demand for potash for the production of fertilizers. Potash comprises of soluble potassium, which is a vital constituent in agricultural fertilizer. Potash fertilizer is beneficial in providing proper plant maturation by promoting disease resistance, root strength, and yield rates, among others. Additionally, potash helps in the development of a better yield by enhancing the texture, color, and flavor.
COVID-19 Impact
The COVID-19 pandemic is having a significant impact on the potash fertilizer industry. Demand for chemicals is suffering severe shocks across various end-use markets, worldwide supply chains are upset, and the competitive order of manufacturers/producers has witnessed a change. The shortage of demand has fast-tracked the global chemical sector into an oversupply situation. Lack of free movement of the labor force required for the application of fertilizers in the agricultural fields is lacking, thereby hindering the growth of the market in the COVID-19 pandemic. Movement restrictions appear to be a direct and immediate effect, and once the compulsory social distancing ends, it is expected things would get back to normal conditions.
Further key findings from the report suggest
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For the purpose of this report, Reports and Data have segmented the global potash fertilizers market on the basis of product type, mode of application, crop type, and region:
Product Type Outlook (Volume, Kilo Tons; Revenue, USD Million; 2017-2027)
Mode of Application Outlook (Volume, Kilo Tons; Revenue, USD Million; 2017-2027)
Crop Type Outlook (Volume, Kilo Tons; Revenue, USD Million; 2017-2027)
Regional Outlook (Volume, Kilo Tons; Revenue, USD Million; 2017-2027)
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Table of contents
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Indicative Metrics
Chapter 4. Potash Fertilizers Segmentation & Impact Analysis
4.1. Potash Fertilizers Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
4.2.2.1. Growing demand for fertilizers for high crop yield
4.2.2.2. Growing population
4.2.2.3. Benefits of potash in plant nutrition
4.2.3. Market restraints analysis
4.2.3.1. Growing inclination towards organic food
4.3. Technological Insights
4.4. Regulatory Framework
4.5. ETOP Analysis
4.6. Porter’s Five Forces Analysis
4.7. Competitive Metric Space Analysis
4.8. Price trend Analysis
4.9. Customer Mapping
4.10. Covid-19 Impact Analysis
4.11. Global Recession Influence
Continued………
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