Potash Fertilizer Market: Global Industry Expected to Grow at CAGR 4.41% and Forecast to 2023

Industry Outlook and Trend Analysis:
The Potash Fertilizer Market was worth USD 19.18 billion in 2014 and is expected to reach approximately USD 28.28 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 4.41% during the forecast period.

Potash Fertilizer market is experiencing advantageous growth due to rising need for higher production in limited area of land. The various benefits of using these fertilizers such as increased quantity and quality of crops, regulation of water in plants, provides essential nutrients, etc.

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Type Outlook and Trend Analysis:
According to the Type the market of Potash Fertilizer is divided into Potassium Chloride (KCL), Sulphate of Potash (SOP), Potassium Nitrate, and Others. Potassium chloride accounted to the largest share in market as it is used as major source of potassium for crops. Besides being source of potassium it also helps in increasing protein, vitamin C, and other nutrients in crops. It also helps in improving various aspects such as size of fruit, enhanced colour of fruit, reducing diseases and pests on fruits. The Sulphate of Potash holds the second-largest share in the type segment.

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Crop Type Outlook and Trend Analysis:
Oilseeds & Pulses, Cereals & Grains, and Fruits & Vegetables are the various crop types. Cereals & grains account to highest consumption in the Crop type segment owing to increasing demand of grains with quality nutritional profile for fulfilling the improved diet needs.

Application Method Outlook and Trend Analysis:
The application method segment is fragmented into Broadcasting, Foliar, and Fertigation. Broadcasting method of application is predicted to rule the market due to its benefits such as less requirement of fertilizer, economical, etc. This is the major driver behind the lucrative growth of Broadcasting segment.

Regional Outlook and Trend Analysis:
According to the region, the Potash Fertilizer Market is segmented as North America, Asia-Pacific, Europe and South America and Middle East & Africa. The Asia Pacific region dominates the market due increasing population in the region and rising demand for crops which in turn has increased the demand for Potash fertilizer. The North-America region holds the second largest share in the market followed by Europe and South-America.

Competitive Insights:
The leading players in the market are ASABorealis AG, HELM AG, The Mosaic Company, Agrium Inc., and JSC Belaruskali, Israel Chemicals Ltd., Sociedad Química y Minera de Chile S.A, Yara International, K + S AKTIENGESELLSCHAFT, Potashcorp Corporation Of Saskatchewan Inc., Sinofert Holdings Limited, and EuroChem Group AG.

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