The Global Potassium Sulfate Market is Predict to reach USD 6 Billion by 2030, at a CAGR of 4.5%

Potassium Sulfate Market Growth, Trends and Report Highlights

According to a new report, published by KBV research, The Global Potassium Sulfate Market size is expected to reach $6 billion by 2030, rising at a market growth of 4.5% CAGR during the forecast period. In the year 2022, the market attained a volume of 6,758.0 Kilo Tonnes experiencing a growth of 3.2% (2019-2022).

The Solid segment is registering a CAGR of 4.2 % during the forecast period. The solid form, whether granular or crystalline, tends to be more stable and less prone to evaporation or spillage than liquid formulations. This makes solid potassium sulfate convenient for both manufacturers and end-users. Solid potassium sulfate products offer versatility in application methods. They can be easily broadcasted, applied through various spreaders, or integrated into granular fertilizers. Owing to these factors, there will be an increased demand in the segment.

The Up to 99% segment led the Global Potassium Sulfate Market, By Purity in 2022; thereby, achieving a market value of $5 billion by 2030. Products with higher purity levels, such as "up to 99%," may be preferred for specialized applications with critical nutrient content. Certain crops or agricultural practices may benefit from fertilizers with a higher potassium sulfate concentration, especially in precision agriculture and horticulture. Precision agriculture involves using technology to optimize crop yields on a field-by-field basis. Farmers may prefer fertilizers with specific and high purity levels in such systems to ensure accurate nutrient application. These aspects can lead to increased demand in the segment.

The Agriculture segment is growing at a CAGR of 3.9 % during the forecast period. There is a growing trend towards the cultivation of high-value crops such as fruits, vegetables, and specialty crops. These crops often have specific nutrient requirements, and potassium sulfate, with its chloride-free composition and positive impact on crop quality, becomes essential for successfully cultivating these high-value crops. These aspects will pose lucrative growth prospects for the agriculture segment in the future.

The Asia Pacific region dominated the Global Potassium Sulfate Market, By Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $2.8 billion by 2030. The Europe region is anticipated to grow at a CAGR of 3.6% during (2023 - 2030). Additionally, The North America region would witness a CAGR of 4.2% during (2023 - 2030).

Full Report:https://www.kbvresearch.com/potassium-sulfate-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 Yara International ASA, Compass Minerals International, Inc., Halogen, Sesoda Corporation, K+S Aktiengesellschaft, SOCIEDAD QUIMICA Y MINERA DE CHILE S.A, Intrepid Potash Inc., Tessenderlo Group nv and The Mosaic Company

Global Potassium Sulfate Market Segmentation

By Form (Volume, Kilo Tonnes, USD Billion, 2019-2030)

• Solid
• Liquid

By Purity (Volume, Kilo Tonnes, USD Billion, 2019-2030)

• Up to 99%
• Greater than 99%

By End User (Volume, Kilo Tonnes, USD Billion, 2019-2030)

• Agriculture
• Industrial
• Pharmaceuticals
• Food & Beverages
• Others

By Geography (Volume, Kilo Tonnes, USD Billion, 2019-2030)

• North America
  • US
  • Canada
  • Mexico
  • Rest of North America
• Europe
  • Russia
  • France
  • Germany
  • UK
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
  • Indonesia
  • Rest of Asia Pacific
• LAMEA
  • Brazil
  • Argentina
  • UAE
  • Saudi Arabia
  • South Africa
  • Nigeria
  • Rest of LAMEA

Companies Profiled

• Yara International ASA
• Compass Minerals International, Inc.
• Halogen
• Sesoda Corporation
• K+S Aktiengesellschaft
• SOCIEDAD QUIMICA Y MINERA DE CHILE S.A
• Intrepid Potash Inc.
• Tessenderlo Group nv
• The Mosaic Company

Related Reports:

North America Potassium Sulfate Market Size, Share by 2030

• December-2023
• 114 Pages

LAMEA Potassium Sulfate Market Size, Share & Forecast, 2030

• December-2023
• 132 Pages

Europe Potassium Sulfate Market Size, Share & Growth 2030

• December-2023
• 129 Pages

Asia Pacific Potassium Sulfate Market Size & Analysis, 2030

• December-2023
• 133 Pages