Potassium Sulfate Market Size, Share, Growth Report 2030

The global Potassium Sulfate market was estimated at 4,216.37 (USD Million) in 2019 and set to record a CAGR of nearly 5.7% over 2020-2026. The report offers valuation and analysis of Potassium Sulfate market on a global as well as regional level. The study offers a comprehensive assessment of the industry competition, limitations, sales estimates, avenues, current & emerging trends, and industry-validated market data. The report offers historical data from 2016 to 2019 along with a forecast from 2020 to 2026 based on value (USD Million).

Introduction

Potassium sulfate is one of the essential fertilizers that are utilized in farming sector. Moreover, it is a key nutrient for plants and is classified as one of the three primary constituents that play a major role in the plant nutrition process. Furthermore, rise in the use of potash fertilizers in the farming due to its ability to protect plants from microbes & pests as well as infection will drive the market trends. In addition to this, the compound assists the plant in adapting to tough weather conditions and helps them in absorbing more minerals from land along with strengthening of tree stalks. Furthermore, the product is available in granular, powdered, and liquid forms.

Market Growth Drivers

Large-scale usage of potassium sulfate in cosmetics, food & beverages, textiles, and pharmaceutical sectors will create lucrative growth avenues for potassium sulfate industry over the ensuing years. Escalating need for arable land due to rise in the global population will embellish the expansion of the market over the forecast timespan. In addition to this, growing trend among the farmers to get best crop yield along with awareness programs carried out by the government for the farmers to make them aware about new value-adding fertilizers will boost the market growth. With potassium sulfate offering beneficial features like solubility and adequate sulphur & potassium contents, the market is likely to gain traction over the forthcoming years.

Furthermore, potassium sulfate finds extensive usage in drip irrigation and Fertigation, thereby enabling preservation of water resources. The compound also assists in minimizing the toxic impact of chloride on the soil and hence it has gained popularity across the globe. Burgeoning demand for cash crops will propel the product penetration in farming sector. Nonetheless, large-scale use of natural fertilizers like neem in organic farming will hinder the business expansion over the forthcoming years.

Asia Pacific Market To Register Rapid Growth Over 2020-2026

The surge in the expansion of potassium sulfate industry over the estimated timespan is due to rise in the demand for food grains in the developing countries like India and China. In addition to this, government in these countries are providing subsidies for sustainable agricultural activities, thereby driving the regional market trends.

Key players influencing the market growth are China Ching Shiang Chemical Co. Ltd., The Mosaic Company, SESODA Corporation, and SDIC Xinjiang Luobupo Potash Company Limited.

The global potassium sulfate market is segmented as follows:

By Process

• Mannheim Process
• Sulfate Salts Reaction
• Brine Processing
• Others

By End-User Industries

• Agriculture
• Industrial
• Pharmaceutical
• Cosmetics
• Food
• Others

By Region

• 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