Potassium Nitrate Market by Raw Material (Potassium Chloride, Ammonium Nitrate, Sodium Nitrate by Application (Agricultural Industry, Pharmaceuticals, Food Industry, General Industries and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2026

Published Date: 27-Jan-2021 Category: Chemical & Materials Report Format : PDF Pages: 110 Report Code: ZMR-5729 Status : Published

The Potassium Nitrate market is set for a rapid growth over the forecast period. In terms of revenue, the global Potassium Nitrate market accounted for USD 1,517.29 Million in 2019 and is expected to reach USD 1,949.23 Million by 2026, growing at a CAGR of 3.64%

Description

The Potassium Nitrate market is set for a rapid growth over the forecast period. In terms of revenue, the global Potassium Nitrate market accounted for USD 1,517.29 Million in 2019 and is expected to reach USD 1,949.23 Million by 2026, growing at a CAGR of 3.64%

Global Potassium Nitrate Market: Overview

Potassium nitrate (KNO3) is a white to grey crystalline salt and is sometimes referred to as nitre or saltpetre. Naturally, the salt is available in its original form and can also be commercially prepared by combining sodium nitrate and potassium chloride. At room temperature, potassium nitrate has an orthorhombic crystalline structure, which converts to a trigonal structure at 264 F (129 C). Potassium nitrate is moderately water-soluble; however, its solubility tends to rise with temperature. Moreover, Potassium nitrate is a potent oxidizing agent that helps speed up the combustion of combustible substances. As a result, it is commonly used in fireworks, rocket fuel, black powder, and medicines as a component. Potassium nitrate is also used for food preparation, meat processing, pharmacology, fertilizers and others.

Global Potassium Nitrate Market: Growth Factors

The demand for potassium nitrate has seen steady growth due to a lot of favourable factors. Potassium nitrate has been used since medieval times to preserve food products such as beef, sausage, pork, etc. Nowadays, it is commonly used in the food processing industry to cure poultry, which is the key driver of demand for market growth. Increased awareness and demand for nutritious food and health goods has led to higher demand for potassium nitrite. It is commonly used to protect against microbial agents in food products. One of the oldest ways of food protection to date is meat and poultry cleansing. Potassium nitrite has demonstrated exceptional antimicrobial potency that prevents spoilage of meat and pathogenic microorganisms. The meat is mainly shielded from microbial bacteria by potassium nitrite. It is harmful to meat with microbes found in it. Chronic diseases such as asthma, arthritis, cancer, Alzheimer's and others are caused by microbes. Color formation is also one of the most important qualitative characteristics of processed meat products. In addition, the growing demand for high-quality meat provides major growth opportunities for players involved in the market for potassium nitrite to provide an infected meat remedy. In the coming years, the global potassium nitrite market is projected to expand at a larger scale.

In addition, potassium nitrate is used in the manufacture of fertilizers. One of the major concerns for farmers is fungal infection, which negatively affects the quality and performance of the crop. For vegetable gardeners and farmers, certain fungal diseases in vegetable plants are particularly unfavorable. Hence, fungicide treatments are used by them, which are necessary and more effective in preventing the outbreak of fungal infections. Potassium nitrate is a commonly used fungicide and is widely used in fruits, vegetables, and cereal crops. Applying potassium nitrate at sufficient concentrations can be successful in managing infectious conditions in fruits and vegetables grown in bulk, thereby reducing waste and providing better farm productivity.

As emerging governments are providing subsidies for the selling of fertilizers among farmers, the demand of potassium nitrate has seen an increase in the farming category. In addition, the increasing demand for advanced fertilizers is further boosting market growth. The IMARC Group says the global demand for potassium nitrate to display modest growth in the coming years.

Furthermore, rising concerns about the degradation of exhaustible resources have also led many organizations to resort to renewable resources, such as concentrated solar power (CSP), thereby boosting the growth of the potassium nitrate industry.

Drilling and explosions in the mining process are important practices and are widely used to break up ore-containing rock benches. For example, high-quality explosives such as potassium nitrate are used to obtain coal from underground in the coal mining industry. With the growing need in the coal mining industry for blasting and drilling chemicals, demand for potassium nitrate is anticipated to increase in the coming years.

Global Potassium Nitrate Market: Segmentation

Based on the raw material, the market is segmented into potassium chloride, ammonium nitrate and sodium nitrate. Potassium chloride held the largest share in 2020 due to numerous factors. For agricultural crops, potassium chloride is primarily used as a source of potassium. Potassium also plays a major role in growing fruits' protein, solid soluble content, vitamin C and grain & tuber starch content. It also aims to strengthen the color & flavors of fruits, expands fruit's size, reduce the risk of pests & diseases, and boost the quality of processing & shipment.

On the basis of end-use, the market is divided into agricultural industry, food industry, pharmaceuticals, general industries, and others. In 2020, the main segment was the agricultural industry. More crop production is needed for an increased population, which can be assured by using a good fertilizer. The world's use of fertilizer has been forecast to rise by approximately 1.8 percent per year. Thus, the rising fertilizer market is serving as a driver for the growth of the global demand for potassium nitrate.

Global Potassium Nitrate Market: Regional Analysis

On the basis of region, the market is segregated into North America, Asia Pacific, Europe, Middle East and Africa, and Latin America. Asia Pacific accounted for the major share in 2020 being the largest consumer of fertilizers across the globe. In India, to meet domestic requirements, raw materials and intermediate products are largely imported to manufacture nitrogen and phosphatic fertilizers and pesticides. Due to the absence of any reserve of potash (K) in the region, all of its services are provided by means of imports. Russia is the world's largest exporter of fertilizers, accounting for around a quarter of the global trade in fertilizers and pesticides, along with other big contributors, such as China, Belarus, Canada, and the United States.

The largest importer of fertilizers in the world, on the other hand, is the United States, followed by countries such as Brazil, India, and China. These regions are major contributors to the development of the potassium nitrate industry.

Global Potassium Nitrate Market: Competitive Players

Key players operating in the global Potassium Nitrate market include Arab Potash Company, Haifa Chemicals Ltd., Migao Corporation, SQM S.A., URALCHEM, and Yara North America among others.

Global Potassium Nitrate Market: Regional Segment Analysis

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

  • Chapter 1. Preface
    • 1.1. Report Description
    • 1.2. Research Scope
  • Chapter 2. Research Methodulogy
    • 2.1.1. Research Methodulogy
    • 2.1.2. Primary Research
    • 2.1.3. Secondary Research
    • 2.1.4. Models
      • 2.1.4.1. Company Share Analysis Model
      • 2.1.4.2. Revenue Based Modeling
      • 2.1.4.3. Research Limitations
  • Chapter 3. Executive Summary
    • 3.1. Global Potassium Nitrate Market, 2016-2026, (USD Million)
    • 3.2. Global Potassium Nitrate Market: Snapshot
  • Chapter 4. Global Potassium Nitrate Market – Industry Analysis
    • 4.1. Introduction
    • 4.2. Market Drivers
    • 4.3. Market Restraints
    • 4.4. Market Opportunities
    • 4.5. Porter’s Five Forces Analysis
    • 4.6. COVID 19 Impact Analysis
  • Chapter 5. Investment Proposition Analysis
    • 5.1. Global Potassium Nitrate Market Attractiveness, By Raw Material
    • 5.2. Global Potassium Nitrate Market Attractiveness, By Application
    • 5.3. Global Potassium Nitrate Market Attractiveness, By Region
  • Chapter 6. Competitive Landscape
    • 6.1. Company Market Share Analysis – 2019
      • 6.1.1. Global Potassium Nitrate Market: Company Market Share, 2019
    • 6.2. Strategic Developments
  • Chapter 7. Potassium Nitrate Market – Raw Material Segment Analysis
    • 7.1. Global Potassium Nitrate Market Overview: by Raw Material
      • 7.1.1. Global Potassium Nitrate Market Revenue Share, by Raw Material, 2019 & 2026
    • 7.2. Global Potassium Nitrate Market Analysis/Overview – By Raw Material
      • 7.2.1. Potassium Chloride – Overview/Analysis
      • 7.2.2. Ammonium Nitrate– Overview/Analysis
      • 7.2.3. Sodium Nitrate– Overview/Analysis
    • 7.3. Potassium Chloride
      • 7.3.1. Global Potassium Nitrate Market for Potassium Chloride, Revenue (USD Million) 2016 – 2026
    • 7.4. Ammonium Nitrate
      • 7.4.1. Global Potassium Nitrate Market for Ammonium Nitrate, Revenue (USD Million) 2016 – 2026
    • 7.5. Sodium Nitrate
      • 7.5.1. Global Potassium Nitrate Market for Sodium Nitrate, Revenue (USD Million) 2016 – 2026
  • Chapter 8. Potassium Nitrate Market – Application Segment Analysis
    • 8.1. Global Potassium Nitrate Market Overview: by Application
      • 8.1.1. Global Potassium Nitrate Market Revenue Share, by Application, 2019 & 2026
    • 8.2. Global Potassium Nitrate Market Analysis/Overview – By Application
      • 8.2.1. Agricultural Industry – Overview/Analysis
      • 8.2.2. Pharmaceuticals – Overview/Analysis
      • 8.2.3. Food Industry – Overview/Analysis
      • 8.2.4. General Industries – Overview/Analysis
      • 8.2.5. Others – Overview/Analysis
    • 8.3. Agricultural Industry
      • 8.3.1. Global Potassium Nitrate Market for Agricultural Industry, Revenue (USD Million) 2016 – 2026
    • 8.4. Pharmaceuticals
      • 8.4.1. Global Potassium Nitrate Market for Pharmaceuticals, Revenue (USD Million) 2016 – 2026
    • 8.5. Food Industry
      • 8.5.1. Global Potassium Nitrate Market for Food Industry, Revenue (USD Million) 2016 - 2026
    • 8.6. General Industries
      • 8.6.1. Global Potassium Nitrate Market for General Industries, Revenue (USD Million) 2016 - 2026
    • 8.7. Others
      • 8.7.1. Global Potassium Nitrate Market for Others, Revenue (USD Million) 2016 – 2026
  • Chapter 9. Potassium Nitrate Market - Regional Analysis
    • 9.1. Global Potassium Nitrate Market: Regional Overview
      • 9.1.1. Global Potassium Nitrate Market Revenue Share, By Region, 2019 & 2026 (USD Million)
      • 9.1.2. Global Potassium Nitrate Market Revenue, By Region, 2016 – 2026 (USD Million)
    • 9.2. North America
      • 9.2.1. North America Potassium Nitrate Market Revenue 2016 – 2026 (USD Million)
      • 9.2.2. North America Potassium Nitrate Market Revenue, By Country, 2016 – 2026 (USD Million)
      • 9.2.3. North America Potassium Nitrate Market Revenue, By Raw Material, 2016 – 2026 (USD Million)
      • 9.2.4. North America Potassium Nitrate Market Revenue, By Application, 2016 – 2026 (USD Million)
      • 9.2.5. U.S.
      • 9.2.6. Canada
    • 9.3. Europe
      • 9.3.1. Europe Potassium Nitrate Market Revenue 2016 – 2026 (USD Million)
      • 9.3.2. Europe Potassium Nitrate Market Revenue, By Country, 2016 – 2026 (USD Million)
      • 9.3.3. Europe Potassium Nitrate Market Revenue, By Raw Material, 2016 – 2026 (USD Million)
      • 9.3.4. Europe Potassium Nitrate Market Revenue, By Application, 2016 – 2026 (USD Million)
      • 9.3.5. France
      • 9.3.6. Germany
      • 9.3.7. France
      • 9.3.8. U.K.
      • 9.3.9. Rest of Europe
    • 9.4. Asia Pacific
      • 9.4.1. Asia Pacific Potassium Nitrate Market Revenue 2016 – 2026 (USD Million)
      • 9.4.2. Asia Pacific Potassium Nitrate Market Revenue, By Country, 2016 – 2026 (USD Million)
      • 9.4.3. Asia Pacific Potassium Nitrate Market Revenue, By Raw Material, 2016 – 2026 (USD Million)
      • 9.4.4. Asia Pacific Potassium Nitrate Market Revenue, By Application, 2016 – 2026 (USD Million)
      • 9.4.5. China
      • 9.4.6. Japan
      • 9.4.7. India
      • 9.4.8. Rest of Asia Pacific
    • 9.5. Latin America
      • 9.5.1. Latin America Potassium Nitrate Market Revenue 2016 – 2026 (USD Million)
      • 9.5.2. Latin America Potassium Nitrate Market Revenue, By Country, 2016 – 2026 (USD Million)
      • 9.5.3. Latin America Potassium Nitrate Market Revenue, By Raw Material, 2016 – 2026 (USD Million)
      • 9.5.4. Latin America Potassium Nitrate Market Revenue, By Application, 2016 – 2026 (USD Million)
      • 9.5.5. Brazil
      • 9.5.6. Mexico
      • 9.5.7. Rest of Latin America
    • 9.6. Middle East & Africa
      • 9.6.1. Middle East & Africa Potassium Nitrate Market Revenue 2016 – 2026 (USD Million)
      • 9.6.2. Middle East & Africa Potassium Nitrate Market Revenue, by Country, 2016 – 2026 (USD Million)
      • 9.6.3. Middle East & Africa Potassium Nitrate Market Revenue, by Raw Material, 2016 – 2026 (USD Million)
      • 9.6.4. Middle East & Africa Potassium Nitrate Market Revenue, by Application, 2016 – 2026 (USD Million)
  • Chapter 10. Company Profiles
    • 10.1. Arab Potash Company
    • 10.2. Haifa Chemicals Ltd.
    • 10.3. Migao Corporation
    • 10.4. SQM S.A.
    • 10.5. URALCHEM
    • 10.6. Yara North America
    • 10.7. Others

Methodology


Frequently Asked Questions

The demand for potassium nitrate has seen steady growth due to a lot of favourable factors. Potassium nitrate has been used since medieval times to preserve food products such as beef, sausage, pork, etc. Nowadays, it is commonly used in the food processing industry to cure poultry, which is the key driver of demand for market growth. Increased awareness and demand for nutritious food and health goods has led to higher demand for potassium nitrite. It is commonly used to protect against microbial agents in food products. One of the oldest ways of food protection to date is meat and poultry cleansing. Potassium nitrite has demonstrated exceptional antimicrobial potency that prevents spoilage of meat and pathogenic microorganisms. The meat is mainly shielded from microbial bacteria by potassium nitrite. It is harmful to meat with microbes found in it. Chronic diseases such as asthma, arthritis, cancer, Alzheimer's and others are caused by microbes. Color formation is also one of the most important qualitative characteristics of processed meat products. In addition, the growing demand for high-quality meat provides major growth opportunities for players involved in the market for potassium nitrite to provide an infected meat remedy. In the coming years, the global potassium nitrite market is projected to expand at a larger scale.

In addition, potassium nitrate is used in the manufacture of fertilizers. One of the major concerns for farmers is fungal infection, which negatively affects the quality and performance of the crop. For vegetable gardeners and farmers, certain fungal diseases in vegetable plants are particularly unfavorable. Hence, fungicide treatments are used by them, which are necessary and more effective in preventing the outbreak of fungal infections. Potassium nitrate is a commonly used fungicide and is widely used in fruits, vegetables, and cereal crops. Applying potassium nitrate at sufficient concentrations can be successful in managing infectious conditions in fruits and vegetables grown in bulk, thereby reducing waste and providing better farm productivity.

As emerging governments are providing subsidies for the selling of fertilizers among farmers, the demand of potassium nitrate has seen an increase in the farming category. In addition, the increasing demand for advanced fertilizers is further boosting market growth. The IMARC Group says the global demand for potassium nitrate to display modest growth in the coming years.

Furthermore, rising concerns about the degradation of exhaustible resources have also led many organizations to resort to renewable resources, such as concentrated solar power (CSP), thereby boosting the growth of the potassium nitrate industry.

Drilling and explosions in the mining process are important practices and are widely used to break up ore-containing rock benches. For example, high-quality explosives such as potassium nitrate are used to obtain coal from underground in the coal mining industry. With the growing need in the coal mining industry for blasting and drilling chemicals, demand for potassium nitrate is anticipated to increase in the coming years.

According to Zion Market Research, the Potassium Nitrate market is expected to generate revenue of around USD 1,949.23 Million by the end of 2026, growing at a CAGR of 3.64%.

On the basis of region, the market is segregated into North America, Asia Pacific, Europe, Middle East and Africa, and Latin America. Asia Pacific accounted for the major share in 2020 being the largest consumer of fertilizers across the globe. In India, to meet domestic requirements, raw materials and intermediate products are largely imported to manufacture nitrogen and phosphatic fertilizers and pesticides. Due to the absence of any reserve of potash (K) in the region, all of its services are provided by means of imports. Russia is the world's largest exporter of fertilizers, accounting for around a quarter of the global trade in fertilizers and pesticides, along with other big contributors, such as China, Belarus, Canada, and the United States.

The largest importer of fertilizers in the world, on the other hand, is the United States, followed by countries such as Brazil, India, and China. These regions are major contributors to the development of the potassium nitrate industry.

Key players operating in the global Potassium Nitrate market include Arab Potash Company, Haifa Chemicals Ltd., Migao Corporation, SQM S.A., URALCHEM, and Yara North America among others.

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