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Order Placed (21 September, 2023)
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Report updation (22 September, 2023)
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Hard Copy
Featured Companies
1. Chambal Fertilisers
2. The Mosaic Company
3. Nutrien Limited
4. K+S Aktiengesellschaft
5. Sociedad Química y Minera de Chile
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Potassium is the member of the alkali metal group and is abundant in nature. It is found in earth’s crust with other minerals. Potassium fertilizer is also known as potash as it is found in wood burnt to ashes. However it is also found naturally in mines and deep into oceans. Potash is widely used fertilizer for plants to enhance firmness, texture, flavour, size, colour of fruit and increase oil content for oilseeds crops. Further it also helps prevent plant disease, drought tolerance, plumpness of grains, and cold hardiness. Potassium if supplied in required quantities to crops they can grow faster, resist pests and yield more crops. Potassium deficiency causes brown spots on leaves, yellow edges and yellow veins. Too much fertilizer can also burn plant to death. Soil testing is preferred before applying potash fertilizers to plants to determine the level of fertilizer deficit. If the soil has more moisture it indicates it has good amount of potash. Potassium uptake is high in 60 to 80 degree temperatures.
According to the research report “Global Potassium Fertilizer Market Outlook, 2027" published by Bonafide Research, the fertilizer market is anticipated to grow slowly at a CAGR of 3.39% by 2027. Asia Pacific is dominant in the Phosphorus market globally. Plants need nitrogen, phosphorus and potassium for their growth but, nitrogen fertilizers are given more emphasis as they are needed in large quantities and give great response. Rock phosphates are used more with highest market share in 2021. Dry phosphatic fertilizers dominate the market. United States is the second largest phosphorus producer and consumer in the world. Russia accounts for only 3% of phosphorus fertilizer market share globally. Majority of phosphorus reserves are in China, Morocco, South Africa, Jordan and United States.
Plants rich in carbohydrates such as potatoes need potassium for tuber growth. Potato yields can be increased to 8 to 10 tonnes per acre if potassium is applied at the rate of 600 to 700 pounds per acre. Other than this, tomatoes, berries and cane fruits also require more potash fertilizers. By using potash, wheat has more protein and carbohydrate content. Cereals require a balance of nitrogen and potash to obtain full yield response to applied nitrogen. If potash supply is limiting, the uptake and utilisation of nitrogen will be restricted.
The COVID-19 pandemic has highly impacted Phosphorus fertilizer market landscape. Lockdown imposed to combat the spread of pandemic limited the production and supply of fertilizers thereby affecting crop production activities. Producers are resolving the challenges caused by the pandemic and adapting to the changing dynamics of the sector. Although government exempted agriculture from lockdown; the most severe impact was on the demand for end-use products, limiting the market opportunities for fertilizer producers. Several companies cut down on the production and supply of their fertilizers. Many small scale production units were forced to shut down. Labour transit was another problem as migration was limited and transportation was also affected. Further China banned exports of phosphorus fertilizers which affected countries dependent on it for resources. To bring down prices of fertilizers in home country China banned exports up to 2022.
Major Companies present in the market
The Mosaic Company, Yara International, Nutrien Limited, K+S Aktiengesellschaft, OCP Group, CF Industries Holdings, Sociedad Química y Minera de Chile (SQM), National Fertilizers Limited Coromandel International Limited, EuroChem Group, Wesfarmers, Indian Farmers Fertilizer Co-operative Limited (IFFCO)
Considered in this report
• Geography: Global
• Base year: 2021
• Estimated year: 2022
• Forecast year: 2027
Aspects covered in this report
• Global Potassium fertilizer market with its value and forecast along with its segments
• Region-wise fertilizer market analysis
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation
Regions covered in the report
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & South Africa
By Product type in the report:
• Muriate of Potash / Potassium Chloride
• Sulphate of Potash
• Others (Potassium nitrate, Other Potassic fertilizer)
By physical formulation in the report:
• Dry
• Liquid
The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analysing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.
Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to fertilizer industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.
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