Potassium sulphate is a potassium-rich fertilizer that is used to supplement potassium in soil and provide nutrients to crops. It can increase crop quality and yield by promoting strong roots, efficient water and nutrient uptake and tolerance to environmental stresses. As one of the major ingredients in fertilizer manufacturing, the rising global demand for food has led to increase in requirement for fertilizers, driving the need for potassium sulphate.
The global Potassium Sulphate Market is estimated to be valued at US$ 4456.59 Mn in 2023 and is expected to exhibit a CAGR of 5.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Increased fertilizer consumption from high- yielding varieties of crops has significantly contributed to the growth of the potassium sulphate market. According to the International Fertilizer Association, fertilizer use has increased by over 2% annually between 2015 and 2020 to meet the needs of various high yielding cultivars introduced globally. Potassium sulphate is a versatile fertilizer that meets the potassium needs of a wide range of crops including fruits, vegetables, plantation crops and cereals. Its use ensures maximum realization of crop yields through improved resistance to biotic and abiotic stresses. This has augmented the demand for potassium sulphate from the fertilizer industry.
Segment Analysis
The global potassium sulphate market is dominated by the agricultural segment. Potassium sulphate is majorly used as a fertilizer in agricultural activities such as cultivation of fruits, vegetables and other crops. It ensures proper growth of plants along with improving soil fertility and yield. Being highly soluble and readily available to plants, potassium sulphate has emerged as a preferred fertilizer variant amongst farmers globally. The growing demand for enhanced food production will continue to drive the uptake of potassium sulphate in agriculture over the forecast period.
Key Takeaways
Global Potassium Sulphate Market Size is expected to witness high growth over the period of 2023-2030. The market size is projected to increase from US$ 4456.59 Mn in 2023 at a CAGR of 5.2% during the forecast period.
Regional analysis
Asia Pacific region presently accounts for the largest share in the global potassium sulphate market and is expected to maintain its leading position over the next few years. This can be attributed to the increasing adoption of potassium sulphate-based fertilizers across major agricultural economies of China, India and Southeast Asian countries. For instance, China is the largest producer and consumer of potassium sulphate globally, making Asia Pacific extremely lucrative for potassium sulphate manufacturers and suppliers.
Key players
Key players operating in the potassium sulphate market include Tessenderlo Group, K+S KALI GmbH, Compass Minerals International Inc., SQM SA, Sesoda Corporation, Migao Corporation, The Mosaic Company, Yara International ASA, SOPerior Fertilizer Corp., and Interpid Potash, Inc. Tessenderlo Group holds the leading market share due to its diversified production facilities and long presence in Asia Pacific and European countries. K+S KALI GmbH also has a strong global presence and offers a wide range of potassium-based fertilizers including potassium sulphate.
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This white glasslike salt is dissolvable in water, and has wide applications in the medication field.
Among other things, potassium sulfate is typically used as manure for fragile crops in the agribusiness business, including blooms, fruits, and vegetables, tobacco, turf, and ornamentals.
It is also a source of potassium sans nitrogen, as it is thought to be difficult to improve yields by providing nitrogen.
Increasing interest in food has resulted in successful advancement of the agricultural industry, which in turn stimulates interest in excrement as a means to give nature a green edge.
Creating the use of potassium sulfate as a feedstock for securing macronutrients, trimmings, activators, and supplement salt across various organizations is fueling the advancement of the potassium sulfate market.
The potassium sulfate things offered by the producers are following the most recent thing of uses of the things, for instance, in strength manures, lubes for wire drawing, formation of insulin, and extraction of significant metals, for instance, biobleaching.
The Global Potassium Sulphate Market Research Report – Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2027 gives an evaluation of the market developments based on historical studies and comprehensive research respectively.
The market segments are also provided with an in-depth outlook of the competitive landscape and a listing of the profiled key players.The comprehensive value chain analysis of the market will assist in attaining better product differentiation, along with detailed understanding of the core competency of each activity involved.
The market attractiveness analysis provided in the report aptly measures the potential value of the market providing business strategists with the latest growth opportunities.The report classifies the market into different segments.
These segments are studied in detail incorporating the market estimates and forecasts at regional and country level.
The segment analysis is useful in understanding the growth areas and probable opportunities of the market.Final Report will cover the COVID-19 Impact and Recovery on this industry.Browse the complete Global Potassium Sulphate Market Research Report – Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2027 @ https://www.decisiondatabases.com/ip/1596-potassium-sulphate-market-reportThe report also covers the complete competitive landscape of the global Potassium Sulphate market with company profiles of key players such as: Compass Minerals(US)K+S Group(DE)SQM(CL)Tessenderlo Group(BE)Rusal(RU)Sesoda(TW)Qing Shang Chemical(CN)Migao Group(CN)The detailed description of each has been included, with information in terms of H.Q, future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other latest industrial developments.SEGMENTATIONS IN THE REPORT:By TypeAgriculture GradeIndustrial GradeOtherBy ApplicationTree NutsVegetablesFruitTobaccoOtherBy Geography:North America (NA) – US, Canada, and MexicoEurope (EU) – UK, Germany, France, Italy, Russia, Spain & Rest of EuropeAsia-Pacific (APAC) – China, India, Japan, South Korea, Australia & Rest of APACLatin America (LA) – Brazil, Argentina, Peru, Chile & Rest of Latin AmericaMiddle East and Africa (MEA) – Saudi Arabia, UAE, Israel, South AfricaDownload Free Sample Report of Global Potassium Sulphate Market @ https://www.decisiondatabases.com/contact/download-sample-1596The Global Potassium Sulphate Market has been exhibited in detail in the following chapters –Chapter 1 Potassium Sulphate Market PrefaceChapter 2 Executive SummaryChapter 3 Potassium Sulphate Industry AnalysisChapter 4 Potassium Sulphate Market Value Chain AnalysisChapter 5 Potassium Sulphate Market Analysis By TypeChapter 6 Potassium Sulphate Market Analysis By ApplicationChapter 7 Potassium Sulphate Market Analysis By GeographyChapter 8 Competitive Landscape Of Potassium Sulphate CompaniesChapter 9 Company Profiles Of Potassium Sulphate IndustryPurchase the complete Global Potassium Sulphate Market Research Report @ https://www.decisiondatabases.com/contact/buy-now-1596Other Reports by DecisionDatabases.com:Global Potassium Nitrate Market Research Report – Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026Global Potassium Sorbate (CAS 24634-61-5) Market Research Report – Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2027Global Potassium Chloride Market Research Report – Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026About-Us:DecisionDatabases.com is a global business research reports provider, enriching decision makers and strategists with qualitative statistics.
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