Potash Fertilizer Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Potash Fertilizer Market is segmented by Type (Muriate of Potash, Sulfate of Potash, and Other Types), Application (Grains and Cereals, Pulses and Oilseeds, Commercial Crops, Fruits and Vegetables, and Other Applications), and Geography (North America, Europe, Asia-Pacific, South America, and Africa).

Market Snapshot

Potash Fertilizer Market Overview
Study Period: 2016 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: Asia Pacific
CAGR: 4.8 %
Potash Fertilizer Market Major Players

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Market Overview

The global potash fertilizer market is projected to register a CAGR of 4.8% during the forecast period (2021-2026). The impact of the COVID-19 pandemic on the potash fertilizer market has been minimal, mainly due to transportation barriers. The lockdown restrictions have been exempted by the government for all types of agricultural activities. Hence, there has been no such effect of the coronavirus outbreak. Indeed, the agrochemical companies have made double-digit profits as compared to last year due to panic buying behavior from farmers. The total global potash deposits amount to an estimated 210.0 billion metric ton of potassium oxide, of which 16.0 billion metric ton are recoverable using existing technologies. Among the 16 billion metric tons, Canada holds deposits to the tune of 10.0 billion metric ton, most of them in the province of Saskatchewan. Russia and Belarus hold 2.2 billion metric ton and 1.0 billion metric ton, respectively, and these three countries dominate the global potash supply, having direct control over the prices of potash fertilizers. Potassium is a major nutrient required in high doses by plants. The element regulates the opening and closing of stomata and therefore regulates the uptake of Carbon dioxide. Potassium is also important for other functions such as activation of enzymes and the production of Adenosine Triphosphate (ATP).

Scope of the Report

Potash quantity in the soil is quantified in terms of potassium dioxide (K2O). The current report estimates the size of the potash fertilizer market at the farmer's level. The most common form of potash fertilizers used by farmers across the world is muriate of potash (potassium chloride). Another form of potash fertilizer available in markets is a sulfate of potash (potassium sulfate), which is used to a lesser extent. The Potash Fertilizer Market is segmented by Type (Muriate of Potash, Sulfate of Potash and Other Types), Application (Grains and Cereals, Pulses and Oilseeds, Commercial Crops, Fruits and Vegetables, and Other Applications), and Geography (North America, Europe, Asia-Pacific, South America, and Africa).

Type
Muriate of Potash
Sulfate of Potash
Other Types
Application
Grains and Cereals
Pulses and Oilseeds
Commercial Crops
Fruits and Vegetables
Other Applications
Geography
North America
United States
Canada
Mexico
Rest of North America
Europe
Germany
United Kingdom
Spain
France
Italy
Russia
Rest of Europe
Asia-Pacific
China
India
Australia
Japan
Rest of Asia-Pacific
South America
Brazil
Argentina
Rest of South America
Africa
South Africa
Rest of Africa

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Key Market Trends

Potash Deficiencies in Major Cereal Crops Driving the Demand

Grains and cereals are crops that require high dosages of potassium. Since potassium is an element that moves quickly within the plant tissue, the deficiency is first noticed in older leaves. In the case of rice, the margins of older leaves turn yellowish-brown or dark brown necrotic spots appear on older leaves. In the case of maize and other cereals such as sorghum, firing or scorching appears on the outer edge of older leaves. Underneath the soil, poor root development and defective nodal tissues are observed. Potassium deficiency is commonly noticed in most soils across developing markets, which grow large acreages of rice, maize, and wheat.

Potash Fertilizer Market Trends

Asia-Pacific Leads the Global Potash Fertilizer Market

Potassium is mined from salt deposits. Large potash deposits are found in Russia, which is the world’s largest producer of this nutrient. Owing to large salt deposits in Russia, Asia-Pacific accounts for the largest share of the potash fertilizer segment. China, Indonesia, Malaysia, and India are the largest potash exporters in the international market. The countries in Asia are recoding growth in the potash fertilizer segment, as they are witnessing increasing requirements for crops. In addition, these countries have historically been under-applied potash fertilizer, as compared to scientifically recommended levels of potash fertilizer application.

Potash Fertilizer Market Growth

Competitive Landscape

The potash fertilizer industry is highly consolidated, with the top players occupying the majority of the market. In 2020, the top companies involved in the potash fertilizers market at the global level were Nutrien Limited, The Mosaic Company, JSC Belaruskali, Uralkali PJSC, and Intrepid Potash Inc.

Recent Developments

In November 2019, Nutrien announced plans of increasing its annual production capacity by 5 million ton after 2023, since the global demand for potash, as a key nutrient for corn and sugarcane crops, has risen gradually.

In May 2018, the Mosaic Company launched a new micronutrient fertilizer product called Aspire. The product consists of two forms of boron with potassium. ​

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

    3. 4.3 Market Restraints

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Buyers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitutes

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Type

      1. 5.1.1 Muriate of Potash

      2. 5.1.2 Sulfate of Potash

      3. 5.1.3 Other Types

    2. 5.2 Application

      1. 5.2.1 Grains and Cereals

      2. 5.2.2 Pulses and Oilseeds

      3. 5.2.3 Commercial Crops

      4. 5.2.4 Fruits and Vegetables

      5. 5.2.5 Other Applications

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

        4. 5.3.1.4 Rest of North America

      2. 5.3.2 Europe

        1. 5.3.2.1 Germany

        2. 5.3.2.2 United Kingdom

        3. 5.3.2.3 Spain

        4. 5.3.2.4 France

        5. 5.3.2.5 Italy

        6. 5.3.2.6 Russia

        7. 5.3.2.7 Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 India

        3. 5.3.3.3 Australia

        4. 5.3.3.4 Japan

        5. 5.3.3.5 Rest of Asia-Pacific

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Africa

        1. 5.3.5.1 South Africa

        2. 5.3.5.2 Rest of Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Most Adopted Strategies

    2. 6.2 Market Share Analysis

    3. 6.3 Company Profiles

      1. 6.3.1 Nutrien Limited

      2. 6.3.2 The Mosaic Company

      3. 6.3.3 JSC Belaruskali

      4. 6.3.4 ICL Group

      5. 6.3.5 K+S Group

      6. 6.3.6 Uralkali PJSC

      7. 6.3.7 Intrepid Potash Inc.

      8. 6.3.8 Sinofert Holding Limited

      9. 6.3.9 EuroChem Group

    4. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  8. 8. AN ASSESSMENT OF THE COVID-19 IMPACT ON THE MARKET

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Frequently Asked Questions

The Potash Fertilizer Market market is studied from 2016 - 2026.

The Potash Fertilizer Market is growing at a CAGR of 4.8% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

Asia Pacific holds highest share in 2020.

Uralkali PJSC, Nutrien Limited, The Mosaic Company, K+S Group, ICL Group are the major companies operating in Potash Fertilizer Market.

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