Potassium Sulphate Market Is Projected To Expand to Value Of 4.9% CAGR by 2017-2027
Asia Pacific and Middle East and Africa Potential Revenue Pockets for Potassium Sulphate
Countries in Middle East and Africa have saline soil and often are exposed to scanty rainfall and draught situations leading to uncertain agricultural production. Governments in countries in Middle East and Africa are taking initiatives for encouraging agriculture and enhance agricultural output. Countries in North Africa as well as Central Africa present huge opportunities with respect to the use of potassium sulphate fertilizers with a view to boost agricultural production thereby reducing dependability on imports on food products. Economies with an agricultural base, or countries that look forward to boosting their agricultural production and output and countries with low percent of arable land and low agricultural production import significant amount of potassium sulphate from international producers. With the increasing agricultural production, the imports of potassium sulphate are likely to increase. Countries in Asia Pacific such as China and India are few of the most likely destinations for export for key manufacturers of potassium sulphate.
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Future Market Insights on Global Potassium Sulphate Market
As per the analytical research report on potassium sulphate market, the global market is estimated to reach a valuation of more than US$ 6100 Mn by the end of the year of assessment from a value of around US$ 3.7 Bn in 2017 and is projected to expand at a value CAGR of 4.9% throughout the period of forecast (2017-2027).
Key Factors Impacting Revenue Growth of the Global Potassium Sulphate Market
The key aspects that are driving the growth of the global potassium sulphate market include increasing preference for value added fertilizers, increasing new entrants in the sulphate of potash industry, increasing focus of manufacturers on expansion in key growth areas, market consolidation and expansion in regions such as Latin America, growing sales of high cash crops owing to increasing awareness, increasing awareness regarding the use and advantage of potassium sulphate among farmers, increasing opportunities for manufacturers owing to increasing population, increase in production capacity and output owing to various advancements, favourable government support in research and development, increasing production of vegetables and fruits, limited availability of arable land thus fuelling the use of potassium sulphate fertilizers, emergence of innovative agricultural practices and increasing per capita food consumption in developing economies favourable agricultural policies.
On the contrary, factors such as relatively higher prices, high pricing competition among local players and improper value chain management are posing hindrances to the growth of the global potassium sulphate market.
Global Potassium Sulphate Market: Segmentation Snapshot
Granules product type segment to lead the global market with a high market valuation by 2027 end
Increasing use of potassium sulphate fertilizers to be observed in fruits and vegetables cultivation
APEJ and MEA to grow at a relatively higher value and volume CAGRs during the forecast period
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Global Potassium Sulphate Market: Vendor Analysis
The vendor analysis chapter in the research report covers intelligence on key players operating in the market. Main players such asCompass Minerals, K+S KALI GmbH, SESODA Corporation, Tessenderlo Group, SQM (Sociedad Quimica y Minera de Chile SA), United Co. RUSAL Plc, SDIC Xinjiang Luobupo Potash Company Limited, Yara International ASA, Migao Corporation, Kemira Kemi AB, The Mosaic Company and China Ching Shiang Chemical Co. Ltd.,are profiled in this research report.
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