The Europe Potash Market would witness market growth of 5.7% CAGR during the forecast period (2023-2030).In the year 2020, the Europe market's volume surged to 12,813.6 kilo tonnes, showcasing a growth of 4.6% (2019-2022).
The fertilizer business is the leading consumer of potash products, including the main fertilizers used currently, potassium carbonate and potassium sulphate. Potash, a primary source of potassium, is one of the three main nutrients plants need. The other two are nitrogen and phosphorus. Animal feed also uses potash; it is added to grass to boost nutrition and increase milk output. The cosmetics & personal care products industry is another significant potash consumer and market driver. Additionally, the construction industry is the leading consumer of potash, which is used for clearing snow off roadways in steep locations. Crackers and fireworks both use potash extensively.
When crops are harvested for food, potassium is removed from the soil; thus, it must be supplied to sustain crop growth in the future. It also helps improve taste, crop productivity, and plant disease resistance. Different crop types, including cereals & grains, oilseeds & pulses, and fruits & vegetables, are fertilized with it. Fertilizers made of potash come in both liquid and solid forms.
The need for caustic potash has increased in several categories, such as automotive, food grade, medicinal, agricultural, technical, etc. Numerous businesses use potassium oxide, including soaps & detergents, fertilizer, chemicals containing potassium, alkaline battery manufacturing, chemicals using potassium phosphate, etc. In addition, KOH is important for de-icing runways, refining petroleum, and balancing pH levels. KOH is used as an alkaline builder in detergent formulations, a methylating agent, a dehydrating agent for drying gases, as a grease in the extrusion pressing of high melting alloys, etc.
With a CAGR of 1.8% from 2016 to 2021, retail sales of baked products in the European Union (EU) slightly increased, reaching US$98.6 billion in 2021. Sales are anticipated to increase by 2.9% CAGR between 2021 and 2026, driven mainly through growth in Italy, the Netherlands, and Poland. Potash has a lower salt content than baking soda; thus, it has a less salty flavour and can be used instead of baking soda if an individual follows a low-sodium diet. Potash is frequently used as a stand-in for baking soda in flat pastries and dense doughs, including nuts, honey, and fruits. The market is anticipated to prosper due to this and the increased consumption of baked goods in Europe.
The Russia market dominated the Europe Potash Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $4.1 billion by 2030. The France market is estimated to witness a CAGR of 6.2% during (2023 - 2030). Additionally, The Germany market would showcase a CAGR of 5.2% during (2023 - 2030).
Based on Product, the market is segmented into Potassium Chloride, Potassium Nitrate, Potassium Sulphate, and Others. Based on End-use, the market is segmented into Agriculture and Non-Agriculture. Based on countries, the market is segmented into Russia, France, Germany, UK, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Worldwide Potash Market is Projected to reach USD 82.6 Billion by 2030, at a CAGR of 5.4%
The market research report covers the analysis of key stakeholders of the market. Key companies profiled in the report include The Mosaic Company, Rio Tinto PLC, Compass Minerals International, Inc., Nutrien Limited, western nutrients corporation, Yara International ASA, BHP Group Limited, Encanto Potash Corp., Red Metal Ltd., and Intrepid Potash Inc.
By Product (Volume, Kilo Tonnes, USD Million, 2019-2030)
By End User (Volume, Kilo Tonnes, USD Million, 2019-2030)
By Country (Volume, Kilo Tonnes, USD Million, 2019-2030)
Our team of dedicated experts can provide you with attractive expansion opportunities for your business.
Unique Offerings 