Potash Fertilizers Market: Rising applicability of potash fertilizers to enhance the market in the forecast period of 2018-2025

Potash Fertilizers Market

Potash is an important part of the plant health and enough supply must be available in the soil to maintain good growth. Fertilizers potassium is also known as potash which is usually derives from a method in which the potassium was extracted from wood ashes and collected in huge iron pots by diffusing the leachate. Lack of potash in plants can lower yields, weaker stems, decrease their quality, reduce their response to nitrogen and also resistance to disease can be lowered as well. Different types of fertilizers which provide potassium to a fertilizer blends.

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Some of the factors which are responsible for the growth of this potash fertilizers market in the forecast period of 2019- 2026 are:

  • Increase in applicability of potash fertilizers: Potash are widely used in the agriculture because they have the ability to protect the plants from different diseases and pests. They can easily protect the plants from various weather conditions and also help them so they can acquire large number of nutrient. These potash fertilizers are also used in wheat, vegetables, and corns which help them to improve the quality of the yield.
  • Need for higher productivity using limited land area: Today, potash fertilizers are used in the limited land area so that one can enhance the production quality and get better results. Potash is considered as one of the most essential macronutrients which are required for the plant growth. They have the ability to decrease plant stress, improve quality, and improve resistance to disease and pest as well.  So, in limited land area they are used for the better results.

The Global Potash Fertilizers Market is segmented based on crop type, form, and application. Based on crop type, the global potash fertilizers market is segmented into cereals & grains, oilseeds & pulses, fruits & vegetables and others. On the basis of application method, the global potash fertilizers market is classified into broadcasting, foliar, and fertigation.  On the basis of form, the global potash fertilizers market is classified into liquid, and solid.

Many companies are making many launches and acquisition in the potash fertilizers market which will help them to enhance their market position and increase the demand for product in the market. Some of the recent developments in the market are:

  • In June 2019, EuroChem Group AG announced the launch of their third new fertilizer blending plant in Brazil. This new plants have the ability to produce 6,000 tonnes (KMT) of fertilizer and have the storage capacity of 100 KMT. This launch will help them to provide high quality fertilizers to their customers.
  • In May 2017, Government of Turkmenistan and Belarus announced the launch of their new potash fertilizer plant. This new plant will help them to meet the rising demand for fertilizers. This new plant has the ability to produce 1.4 million tons of fertilizers.

Potash fertilizers market is expected to reach USD 31.33 billion by 2025, at a CAGR of 4.7% during the forecast period of 2018 to 2025

Some of the major players operating in the global potash fertilizers market are - Yara International ASA, Agrium Inc., Potash Corporation of Saskatchewan Inc, Eurochem Group AG, The Mosaic Company, JSC Belaruskali, HELM AG, Israel Chemicals Ltd, Sociedad Química Y Minera De Chile S.A. (SQM), Borealis AG, Sinofert Holdings Limited, K+S Aktiengesellschaft, Potash corporation, Mosaic, ICL Ltd, Uralkali, CF industries, Yara International ASA, Sociedad Qumica Y Minera De Chile S.A. (SQM), Sinofert Holdings Limited, The Mosaic Company, Agrium Inc, Eurochem Group AG, Israel Chemicals Ltd, JSC Belaruskali and many more.

Increasing investment in the agricultural activities and rising application of potash fertilizers are the factors which will affect the growth of this market. There is rising demand to enhance the pasture production will also drive market. Advancement and development in the farming industry will also create new opportunities for the market to grow. There is also increasing need to protect plants from harmful pathogens which is also create new opportunities for this market to grow in the forecast period of 2018 to 2025.

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