Press release
Potassium Nitrate Market is Showing Strong Position Near Future By Leading Key Vendors - YOGI CHEMICAL INDUSTRIES, Ravi Chem Industries, Akshay Group of Companies, Uma Organics, Sam Industries
Potassium Nitrate Market
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Market Analysis: Global Potassium Nitrate Market
Global potassium nitrate market is set to witness a steady CAGR of 4.15% in the forecast period of 2019- 2026. The report contains data of the base year 2017 and historic year 2018. Rising demand of potassium nitrate from various end- users and rising industrialization are the factor for the growth of this market.
Major Market Competitors/Players
Few of the major competitors currently working in global potassium nitrate market are Haifa Group., Migao Corporation, SQM S.A.., Yara, ANISH CHEMICALS, SNDB, RAM SHREE CHEMICALS, YOGI CHEMICAL INDUSTRIES, Ravi Chem Industries, Akshay Group of Companies, Uma Organics, Sam Industries, Jagannath Chemicals, AGI Industries., Positive Chemicals Private Limited., Jayshree Chemicals, okchem.com., ARIHANT BIO FERTICHEM PVT. LTD., SAGAR LIFE SCIENCES PRIVATE LIMITED, SNDB, RAM SHREE CHEMICALS among others.
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Market Definition: Global Potassium Nitrate Market
Potassium nitrate is an alkali metal nitrate which is an ionic salt of potassium ions and nitrate ions. They mainly occur as niter and mineral. This crystalline solid is non-combustible and mildly soluble in water, but with temperature, its solubility rises. Potassium nitrate is a powerful oxidizing agent that may explode with other organic compounds when reacted. They are widely used in industries such as pharmaceutical, food, agriculture and others,
Segmentation: Global Potassium Nitrate Market
Potassium Nitrate Market : By Raw Material
Potassium Chloride
Ammonium Nitrate
Sodium Nitrate
Potassium Nitrate Market : By End-User
Agriculture
General Industries
Pharmaceutical Industry
Food Industry
Others
Potassium Nitrate Market : By Geography
North America
South America
Europe
Asia-Pacific
Middle East and Africa
Key Developments in the Potassium Nitrate Market:
In February 2018, Yara International ASA and Arab Potash Co, a memorandum of Understanding (MoU) has lately been signed for mutual collaboration in the manufacturing and sales of potassium nitrate. This will help both companies to double their manufacturing capabilities of potassium nitrate and they will be able to cater better solutions to their customers. This will strengthen their position in the market and will enhance their business
In March 2015, Israel Chemicals announced the launch of their new potassium nitration production plant which is specially designed so they can meet the rising demand for food- grade phosphoric acid and soluble specialty fertilizers. This launch will help them to cater their customer with advanced products and will also help them to strengthen their position in the market
Potassium Nitrate Market Drivers:
Rapid urbanization and industrialization is expected to act as a driver for this market growth
Increasing popularity of biofungicides also enhances the growth of this market
Rising blasting and drilling applications in mining can boost the market growth
Growing demand for energy will increase demand for coal and other minerals, this factor will also contribute as a factor for the growth of this market
Potassium Nitrate Market Restraints:
They are high oxidisers and increases flammability to of other material can impede the market growth
Inhaling of potassium nitrate can cause many health problems which will also hamper the growth of this market
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