Press release
Potassium Chloride Market is estimated to reach USD 19.44 Billion by 2029 : Cognitive Market Research
Potassium Chloride Market is estimated to reach USD 19.44 Billion by 2029 : Cognitive Market Research
Potassium chloride is an odorless potassium salt and is a widely used reagent in biochemistry and molecular biology. It is a component of phosphate-buffered saline and of polymerase chain reaction (PCR) buffer. It is used as a fertilizer, in medicine, in scientific applications, in domestic water softeners (as a substitute for sodium chloride salt), and in food processing, where it may be known as E508 (gelling agent). The majority of the potassium chloride produced is used for making fertilizer, called potash.
KCl is also used in studies of ion transport and potassium channels. It is recommended for the treatment and prophylaxis of hypokalemia with or without metabolic alkalosis. KCl is also utilized in the solubilization, extraction, purification, and crystallization of proteins.
Market Dynamics:
• Increasing adoption of potassium chloride in fertilizers is the major driving factor for the growth of the KCl market. Potassium is the third main crop nutrient after nitrogen and phosphorus. According to, International Potash Institute, both K and Cl are the main ions involved in the neutralization of charges, and the important inorganic osmotic active substances in plant cells and tissues. The use of KCL in the healthcare sector is also fuelling the growth of the market. According to the National Library of Medicine, Potassium chloride is a medication used in the management and treatment of hypokalemia.
• Increasing demand for potassium chloride from the oil & gas industry and food industry are additional factors expected to drive the growth of the global potassium chloride market to a significant extent over the estimated period. However, fluctuating prices of potassium chloride and health issues generated by the use of chemical fertilizers can hinder the growth of the KCL market.
Read Full Report with Table of Contents :
@-https://www.cognitivemarketresearch.com/potassium-chloride-market-report
Regional Analysis of the Potassium Chloride Market:
• Asia Pacific held the maximum market share accounting for about 34.34%, owing to the presence of major agriculture-based countries like India and China. According to World Bank Data, India has 60.2% of its land is under the agriculture sector, and in China, 56.1% of the land is under the agriculture sector. Further, North America, with its increasing demand for KCl in the agriculture and healthcare sector, is accounted to retain a significant position in the forecast period.
Top players involved in the Potassium Chloride market:
• Nutrien Ltd.
• The Mosaic Company
• ARAB POTASH
• JSC Belaruskali
• ICL Fertilizers Ltd.
• K+S KALI GmbH
• Uralkali
• Sigma Aldrich
• IMC Global Inc.
• Sinofert Holdings
• Others
Current Trends of Manufacturers:
• Granules India gets USFDA nod for potassium chloride tablets used to treat hypokalemia (October 2022)
- Granules India has received marketing approval from the US Food and Drug Administration (USFDA) for Potassium Chloride extended-release tablets USP in the strengths of 10 mEq (750 mg) and 20 mEq (1500 mg), the company said in a BSE filing.
Segment Analysis:
• Based on Applications, the market is segmented into pharmaceuticals, fertilizers, food, industrial, and others. The fertilizers segment held the largest market in 2021 and is expected to grow significantly in the upcoming period. Following the fertilizers segment, the pharmaceutical segment held the second largest market share and it is also expected to grow in the forecast period.
- Pharmaceuticals
- Fertilizers
- Food
- Industrial
- Others
• Based on Grade, the Potassium Chloride market is segmented into food grade, pharma grade, fertilizer grade, and others. The fertilizer-grade segment held the largest market share due to the increasing demand for KCl in the agriculture sector and pharma-grade KCl is expected to grow significantly in the forecast period.
- Food Grade
- Pharma Grade
- Fertilizer Grade
- Others
Related Report:
• Fertilizer Market - https://www.cognitivemarketresearch.com/fertilizer-market-report
• Picloram Market - https://www.cognitivemarketresearch.com/picloram-market-report
• Gelling Agent Market - https://www.cognitivemarketresearch.com/gelling-agent-market-report
𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐔𝐬
Nicolas Shaw
Cognitive Market Research
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Illinois, 60602
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Email: sales@cognitivemarketresearch.com
Website: https://www.cognitivemarketresearch.com/about-us
About Cognitive Market Research Company :
Cognitive Market Research has evolved as one leading market research and consulting firm and it provides services across multiple domains. Cognitive Market Research gathers and analyzes data about customers, competitors, distributors, and other market actors and forces operational across the value chain. As a market research company, we follow a complete process of gathering information about the target market and end-use industries to verify the complete journey of the product or service in the global market. It helps our readers understand the demand and viability of their product/service and how it might perform in the real world and help them to build business strategies accordingly.
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