Potash Fertilizers Market | Industry Size, Status and Top Players are- Israel Chemicals Ltd., Agrium Inc., EuroChem Group A.G., Uralkali PJSC, The Mosaic Company, Yara International A.S.A., Migao Corporation Chemicals, SQM S.A., Sesoda Corporation, Brazil

Fertilizers are used to maintain soil fertility and enhance crop yield. In addition to phosphorus and nitrogen, potassium is an important element responsible for plant growth. Lack of potassium lowers resistance of plants against several diseases and draught, bringing down the overall quality of the crops. These factors have led to an increase in the demand for potash fertilizers globally.

Key factors increasing the demand for potash fertilizers include rising demand for increased crop productivity on limited landscape and the growing acceptance of potash fertilizers, owing to its high nutrient content. Potash fertilizers help to improve the flavor and color of fruits, and also has the ability to increase their size.

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Potash Fertilizers Market Taxonomy

Based on product type, potash fertilizers market is segmented into:

Potassium Nitrate
Sulphate of Potash (SOP)
Potassium Chloride
Others

Based on the form, potash fertilizers market is segmented into:

Liquid
Solid

Potash Fertilizers Market Outlook

Asia Pacific is expected to be the fastest-growing market, witnessing the highest CAGR during the forecast period. Major factors contributing to the growth of potash fertilizers market include rising awareness among the farmers regarding the efficient usage of their land for better crop yield by using fertilizers, and the steadily growing demand for food grains, owing to the rising population.

In Latin America, economies such as Brazil, Mexico, Argentina, and Colombia are the largest consumers of fertilizers. According to the United Nations ESCAP, the annual growth for potash fertilizer in this region is anticipated to be around 3% during 2014-2018.

Major players operating in the potash fertilizers market include Israel Chemicals Ltd., Agrium Inc., EuroChem Group A.G., Uralkali PJSC, The Mosaic Company, Yara International A.S.A., Migao Corporation Chemicals, SQM S.A., Sesoda Corporation, Brazil Potash Corporation, and K+S KALI GmbH. In 2015, the Migao Corporation Chemicals had launched a new compound fertilizer facility in Southern China. The compound fertilizer is a combination of potassium sulfate, potassium nitrate, and other crop nutrients.

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