Potassium Sulphate (SOP) Market to Witness Comprehensive Growth AT A CAGR 4.9% during 2017-2027

Future Market Insights delivers key insights on the global Potassium Sulphate (SOP) market in its latest report titled ‘Potassium Sulphate (SOP) Market: Global Industry Analysis 2012-2016 and Opportunity Assessment 2017-2027’. The long-term outlook on the global Potassium Sulphate (SOP) market remains positive, with market value expected to increase at a CAGR of 4.9% during the forecast period (2017– 2027). By form type, Granular form SOP type is anticipated to remain dominant and record highest growth over the forecast period. Among applications of SOP in crop type, fruits production continues to be the major application area for Potassium Sulphate (SOP). Also, growing agricultural sector, population and changing eating habits opens up numerous growth opportunities for potassium sulphate (SOP) Market. Potassium Sulphate (SOP) is estimated to be valued at US$ 3,771.5 Mn and 6443.6 KT by volume at the end of 2017. APEJ is estimated to dominate the global potassium sulphate market. The region is expected to account for a value share of 41 % in the global Potassium Sulphate (SOP) market by the end of forecast period is anticipated to retain its dominance throughout the forecast period.

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Potassium sulfate also known as SOP is one of the prime source of K nutrition for plants. The potassium pat of the K2SO4 is no unlike from other common potash fertilizers. However, it also supplies a valuable source of S, which protein synthesis and enzyme function require. The primary constituent of SOP is 50% K2O and 17.5% S. SOP is effective for the cultivation of fruits, vegetables, berries, potatoes, beans, cocoa, tobacco and tree nuts. Also the SOP fertilizer has the low salinity index which enables the efficient water absorbing capability of the plants and further boosts the crop yield. Further numerous factors such as low chloride content, growing population & changing eating habits, declining arable land and growth of agriculture production drives the demand for SOP market

However high prices and farmers preference for nitrogen based fertilizers act as an impediment in the growth of Potassium Sulphate (SOP) market over the forecast period.

Segmentation Analysis : On the basis of form type, Granular type SOP is expected to dominate the overall Potassium Sulphate (SOP) market owing to high demand from agricultural industries and factors like ease in use & high efficiency. Granular type SOP is estimated to be valued at US$ 4,420.2 Mn by 2027 and is expected to grow at CAGR 5.1% over the forecast period.; On the basis of application, Fruits as crop type for application SOP is expected to dominate global Potassium Sulphate (SOP) market over the forecast period. The segment is anticipated to hold 26.5 % of the overall volume share by 2027. After consumption of SOP in fruits, Vegetables production is another key growth segment for SOP expanding at CAGR 5.0% over the forecast period.

Regional Analysis: Asia Pacific excluding Japan is expected to dominate the global SOP market throughout the forecast period. The region is anticipated to grow at a CAGR of 6.7% owing to the high demand of SOP products in the region. China dominates the consumption of SOP in the region with whooping share of 52.5% in 2016. Western Europe and North America also account for a significant amount of share owing to high demand from Agriculture industry. Also the supply from these regions are adequate.

Vendor Insights: Some of the key players reported in the study of global Potassium Sulphate (SOP) market includes- SDIC Xinjiang Luobupo, Yara International ASA, Ching Shiang Chemical Co. Ltd., Migao Corporation, United Co. RUSAL Plc. Kemira Kemi AB, Sesoda Corp., SQM, Compass Minerals International, Inc, Tessenderlo Group, K+S AG, The Mosaic Company

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