The World Potash Market is anticipated to be driven by growing agricultural production and economic growth, according to our research report.
The world potash market is segmented by type into Muriate of Potash, Sulphate of Potash, Sulphate of Potash Magnesia and Potassium Nitrate. Among these segments, Muriate of Potash commands the highest demand due to its yield enhancing features and competitive pricing.
The market of Potash accounted for USD 8 Billion in 2016 and further the market is predicted to register a modest CAGR of 4% over the forecast period i.e. 2016-2024.
Asia Pacific is the largest market for potash in terms of revenue, mainly due to the thriving agricultural sector and reliance of a large percentage of the population on agriculture as a means of living.
Rising demand for fertilizers: Major Boost
The market is witnessing a rebound after nearly a decade of price slump. The projected increase in global population by a third and rising incomes and standards of living are necessitating an increase in agricultural production. Rise in demand for bio-fuels and reduction availability of per capita arable land are also contributing to this factor. All this will translate into increased demand for potash in fertilizers.
However, falling prices in the past few years and oversupply are some factors hindering market growth.
“Global Potash Market Outlook 2024” contains detailed overview of the global potash market in terms of market segmentation by product type and end use industry.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis.
This market report also includes competitive outlook of some of the major players of the global potash market which includes profiling of companies of Dead Sea Works, Potash Corp, Uralkali, Agrium, Intrepid Potash, APC, Belaruskali, Sinofert Holdings, SQM etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments. Overall, the report represents comprehensive synopsis on the global potash market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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