The Worldwide Potash Market is Projected to reach USD 82.6 Billion by 2030, at a CAGR of 5.4%
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Potash Market Growth, Trends and Report Highlights
According to a new report, published by KBV research, The Global Potash Market size is expected to reach $82.6 billion by 2030, rising at a market growth of 5.4% CAGR during the forecast period. In the year 2022, the market attained a volume of 1,19,552.2 kilo tonnes, experiencing a growth of 4.6% (2019-2022).
The Potassium Chloride segment is leading the Global Potash Market by Product in 2022; thereby, achieving a market value of $42.2 billion by 2030. This is a result of increased agricultural activities. Muriate of Potash (MOP), also known as potassium chloride, is a popular name for the compound primarily used to manufacture fertilizers high in phosphorus, nitrogen, and potassium (NPK) and as raw materials for other industrial applications. Food production is ultimately boosted by the world's expanding population, increasing food demand.
The Non-Agriculture segment is showcasing a CAGR of 7.8% during (2023 - 2030). These sectors cover industrial uses, supplemental nutrition for animals, and specialized non-agricultural uses. For their specific activities, businesses in the water treatment, metallurgy, glass, and chemical manufacturing industries depend on the accessibility of potash compounds. Producing soaps, detergents, ceramic materials, and other chemical products is just one of the many uses for these substances.
The Asia Pacific region dominated the Global Potash Market by Region in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $30.3 billion by 2030. The LAMEA region is estimated to grow at a CAGR of 5.2% during (2023 - 2030). Additionally, The North America region would witness a CAGR of 5.7% during (2023 - 2030).
Full Report: https://www.kbvresearch.com/potash-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country-wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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.
Global Potash Market Segmentation
By Product (Volume, Kilo Tonnes, USD Million, 2019-2030)
- Potassium Chloride
- Potassium Nitrate
- Potassium Sulphate
- Others
By End User (Volume, Kilo Tonnes, USD Million, 2019-2030)
- Agriculture
- Non-Agriculture
By Geography (Volume, Kilo Tonnes, USD Million, 2019-2030)
- North America
- US
- Mexico
- Canada
- Rest of North America
- Europe
- Russia
- France
- Germany
- UK
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- India
- Thailand
- Japan
- South Korea
- Australia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- South Africa
- Nigeria
- Morocco
- Chile
- Rest of LAMEA
Companies Profiled
- 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.
- Intrepid Potash Inc.
Related Reports:
North America Potash Market Size, Share & Forecast to 2030
- August-2023
- 115 Pages
LAMEA Potash Market Size, Share & Industry Growth, 2023-2030
- August-2023
- 128 Pages
Europe Potash Market Size, Share & Outlook Trends, 2023-2030
- August-2023
- 128 Pages
Asia Pacific Potash Market Size, Share & Analysis, 2023-2030
- August-2023
- 132 Pages