Press release
Potassium Sulphate Market Analysis, Trends, Growth, Research And Forecast 2032
Potassium Sulphate Market
The Business Research Company's Potassium Sulphate Global Market Report 2023 identifies increase in demand for food crops as the major driver for the potassium sulphate market's growth in the forecast period. Potassium sulphates are used in various applications in the agricultural industry, including the application of potassium sulfate for optimal growth as the soil accumulates chloride from the irrigation water. Potassium sulphate is becoming more popular in the agricultural sector due to the low presence of chloride can be harmful to the crops.
The global potassium sulphate market size grew from $4.57 billion in 2022 to $4.88 billion in 2023 at a compound annual growth rate (CAGR) of 6.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The potassium sulphate market size is expected to grow to $6.1 billion in 2027 at a CAGR of 5.7%.
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Major competitors in the potassium sulphate market are Tessenderlo Group, K+S KALI GmbH, Compass Minerals International Inc., SQM SA, Sesoda Corporation, Migao Corporation, The Mosaic Company, Yara International ASA.
A key trend in the potassium sulphate market includes increasing collaborations and partnerships between companie. Companies in the market are focusing on establishing key partnerships and collaborating with industry partners to expand their product portfolio and increase market share. For instance, in September 2020, Van Iperen Internation, a Dutch-based specialty fertilizers producer, signed a long-term distribution agreement with Tessenderlo Kerley International, a US-based specialty chemical solutions company. Under the agreement, Van Iperen International will sell globally water-soluble grade potassium sulphate (SOP) produced at Kemira's plant in Sweden, ensuring the continuation of worldwide supply and distribution of Swedish premium SOP.
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The potassium sulphate market is segmented -
• By Form: Solid, Liquid
• By Grade: Food, Agricultural, Technical, Pharmaceutical
• By Process: Mannheim Process, Sulphate Salts Reaction, Brine Processing, Other Processes
• By End-Use Industry: Agriculture, Industrial, Pharmaceuticals, Cosmetics, Food and Beverages
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.Asia-Pacific was the largest region in the potassium sulphate market.
The Business Research Company's "Global Potassium Sulphate Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Potassium Sulphate Market Include:
1. Executive Summary
2. Potassium Sulphate market Characteristics
3. Potassium Sulphate market Trends And Strategies
4. Potassium Sulphate market - Macro Economic Scenario
5. Potassium Sulphate market Size And Growth
……
26. Africa Potassium Sulphate market
27. Potassium Sulphate market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Potassium Sulphate market
29. Potassium Sulphate market Future Outlook and Potential Analysis
30. Appendix
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