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Potash Global Market Report 2024 - By Share, Size, Demand, Growth, Forecast To 2033
Potash Market
Potash Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $30.04 billion In 2028 At A CAGR Of 5.4% :
The potash market size has grown strongly in recent years. It will grow from $22.93 billion in 2023 to $24.32 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. The growth in the historic period can be attributed to global agriculture demand, population growth, nutrient management, soil quality improvement, cyclical nature of agriculture.
The potash market size is expected to see strong growth in the next few years. It will grow to $30.04 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%. The growth in the forecast period can be attributed to global food security concerns, technological agriculture adoption, biofuel production, changing dietary patterns, climate change adaptation. Major trends in the forecast period include bio-based potash solutions, digital agriculture integration, strategic alliances and mergers, government initiatives and subsidies, potash in water-soluble fertilizers.
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Potash Market Major Segments
The potash market covered in this report is segmented -
1) By Type: Potash-Agriculture, and Potash-Industrial
2) By Mining Type: Underground Mining, Surface Mining
Key Driver - Potash Market Surges With Soaring Mining Demand In North America
The growth in the potash market is due to the increasing demand for mining in North America. For instance, in February 2023, according to Glacier Media Group, a Canada-based media company, US mines produced non-fuel mineral products worth around $98.2 billion in 2022, an estimated $3.6 billion more than the 2021 revised total of $94.6 billion.
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Prominent Trend - Advancing Potash Extraction Through The Rise Of Potash Solution Mining For Enhanced Efficiency
Potash solution mining techniques are being utilized for potash to improve extraction efficiency and increase profitability. Potash solution mining involves boring injection and recovery wells into the ground. A heated brine solution is injected into the deposit to dissolve the potash salts. The dissolved salts are then extracted to the surface and potash is separated and conditioned, which is the major trend in the potash market.
Potash Market Players
Major companies operating in the potash market report are Vale SA, Nutrien Ltd., PotashCorp, The Mosaic Company, Sociedad Quimica y Minera de Chile S.A., Eurochem Group AG, ICL Israel Chemicals Ltd., K+S AG, Highfield Resources Ltd., Uralkali PJSC, Qinghai Salt Lake Potash Company Limited, Compass Minerals International Inc., Intrepid Potash (IPI) Inc., Gensource Potash Corporation, Karnalyte Resources Inc., Pacific Exim Ltd., Encanto Potash Corp, Michigan Potash & Salt Company LLC, Petro One Energy Corp, Western Potash Corp., Petrokemija, BHP Group Limited, Asia-Potash International Investment (Guangzhou) Co. Ltd., Asia Pacific Potash Corporation, Passport Potash Inc., Potash Minerals Limited, SOPerior Fertilizer Corp, Potash West, Prospect Global Ltd., Channel Resources Limited, Crystal Peak Minerals Inc.
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Largest And Fastest Growing Region In The Market
South America was the largest region in the potash market in 2023. The regions covered in the potash market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Potash Market Report Structure
3. Potash Market Trends And Strategies
4. Potash Market - Macro Economic Scenario
5. Potash Market Size And Growth
…..
27. Potash Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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