Potash Fertilizers Market is projected to grow at a CAGR of 4.7% over the forecast period. Potassium is an essential part of plant growth and contributes to the overall soil productivity. High yielding crops remove large amounts of potassium in the harvested portion of the crop. Whereas, the rate at which potassium is removed is high as compared to its replenishment. This has increased the need for potash fertilizers in the market. They are applicable to various crop type such as grains & cereals, oil seeds & pulses, fruits & vegetables, and others.
Change in farming practices and technology is further boosting the growth of the potash fertilizers market in Europe. Wide product availability and continuous innovations by the key players to launch new products is adding fuel to the growth of the market. However, uncertain regulatory policies is restraining the growth of the market. Nevertheless, all these factors are expected to lead the growth of European market at a CAGR of 4.7% during the forecast period.
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Major Key Players
Global Potash Fertilizers Market is segmented on the basis of types such as muriate of potash, potassium magnesium sulfate, sulfate of potash, potassium nitrate, and others. Among all, muriate of potash is dominating the market owing to its high nutrient concentrates. However, sulfate of potash is also witnessed to be growing over the forecast period.
On the basis of crop type, the potash fertilizers market is segmented into grains & cereals, oil seeds & pulses, fruits & vegetables, and others. Among all, fruits and vegetables segment is dominating the market followed by grains and cereals.
The global potash fertilizers market is segmented into North America, Europe, Asia Pacific and rest of the world (RoW). Europe is dominating the market followed by North America. The U.S. is the major contributor in North America to the potash fertilizers market. In Europe, Ireland and Belgium are leading in consumption of potash fertilizers followed by Switzerland.
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