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| Potash Fertilizers Market |
Potassium (K), sometimes known as potash, is one of the crucial nutrients utilized in the fertilizer sector. Over the course of the projected period, the growing demand for fruits and vegetables as well as food grains is anticipated to fuel market growth for potash fertilizers. Potash fertilizers have benefits including preventing insect and other microbial contamination of plants. Potash fertilizers also help plants better withstand weather changes, absorb more minerals from the soil, and strengthen tree stalks. Potassium is one of the "Big 3" major nutrients and is essential to the process of plant nutrition, according to the Fertilizers Institute, Washington.
The
Potash Fertilizers Market is divided into
three segments: potassium chloride, potassium sulfate, potassium nitrate, and
others. During the projected period, the segment for potassium chloride will
hold the biggest market share. For crops, potassium chloride is primarily
utilized as a source of potassium.
The term
"potash," which is pronounced "pot-ash," is frequently used
to refer to potassium-containing salts used as fertilizer. Potassium chloride
(KCl), commonly known as muriate of potash, is the main source of potash (MOP).
The
Potash Fertilizers Market is anticipated to
develop as a result of rising soil deficiency, the convenience of usage, and
consistent application, as well as rising consumer demand for higher food crop
production. Since the intake of potassium differs between crops and soils, the
amount of potash fertilizer needed depends on the type of crops planted. The Potash
Fertilizers Market for these liquid potassium fertilizers is expected to
increase over the future years because precision agriculture is known to reduce
nutrient losses by permitting variable-rate fertilizer application.
MOP, the most popular
potassium fertilizer, is produced in excess of 65 million tonnes per year, of
which over 51 million tonnes are exchanged internationally.
The top seven corporate
suppliers account for 84% of the world's supply of MOP, which is highly
concentrated. Geographically, China, Germany, Israel, and Jordan are the top
five producers, followed by Belarus, Canada, and Russia.
Most nations around the globe
purchase some potash. China, Brazil, India, and the US are the top four
markets. The top 15 national fertilizer markets use 78% of the world's potash,
compared to 133 nations that use only 5%.
Key Players
Israel Chemicals Ltd.,
EuroChem Group A.G., Agrium Inc., Uralkali PJSC, Yara International A.S.A.,
Migao Corporation, Sesoda Corporation, SQM S.A., Brazil Potash Corporation, and
K+S KALI GmbH are significant market participants in the potash fertilisers
market.
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