The latest market report published by Credence Research, Inc. “Global Potassium Sulphate Market: Growth, Future Prospects, and Competitive Analysis, 2016 – 2028”. The Global Potassium Sulphate Market generated revenue of around USD 4.5 billion in 2021 and is anticipated to grow a CAGR of over 4.10% during the forecast period from 2022 to 2028 to reach around USD 5.7 billion in 2028.
The growing agricultural industries, as well as the stable form of potassium and sulphate, are widely used as a primary choice to deliver significant benefits such as slat index, potassium content, low chloride, and the growth of the targeted industries, which is expected to drive potassium sulphate market demand during the forecast period. The potassium sulphate non-flammable and compressed properties also contributed to growing the market. Another factor influencing potassium sulphate was the increasing demand for the targeted materials for several chemicals based on its various applications in food preservation, medicine, agriculture, and industries. Besides, the price of potassium sulphate is volatile worldwide due to the unpredictability of the prices for potassium. This problem has become the primary potassium sulfate consumption barrier, restricting the market’s growth. For instance, the price of potassium sulphate decreased by 0.33% between the beginning and the middle of August 2021.
Browse Global Potassium Sulphate Market report-https://www.credenceresearch.com/report/potassium-sulphate-market
The global Potassium Sulphate market is bifurcated into Form, Process, End-Use Industry, and Geography. Based on form, the market is categorized into solid (standard & granular) and liquid (soluble SOP). On the basis of process, the global market is segmented into mannheim process, sulphate salt’s reaction, brine processing, and others. Based on end-use industry, the market is categorized into agriculture, industrial, pharmaceuticals, cosmetics, food & beverages, and others. Based on geography, the market is segmented as North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The Asia Pacific dominated the market for potassium sulfate globally in 2021 and accounted for a significant portion of market revenue in terms of value. This is majorly due to increasing use in agriculture. The total grain output in China will remain over 650 billion kg in 2021, reflecting an increase of 0.9% over 2020, according to the Chinese Academy of Agricultural Sciences and the Ministry of Agriculture and Rural Affairs. Additionally, between 2016 and 2019, China’s agricultural fiscal spending reached $928 billion. As a result of the thriving agricultural economy, there will be an increase in demand for agricultural products and feed, which is expected to boost the Asia-Pacific potassium sulphate market.
Why to Buy This Report-
- The report provides a qualitative and quantitative analysis of the global Potassium Sulphate market by segments, current trends, drivers, restraints, opportunities, challenges, and market dynamics with the historical period from 2016-2020, base year- 2021, and forecast period 2022-2028.
- The report contains information related to the competitive landscape like how the key players in the market are operating at a global, regional, and country level
- In-depth analysis of the global potassium sulphate market segmentation based on form, process, and end-use industry.
- The global Potassium Sulphate market report also includes analysing of the global, regional, and country level, along with key market trends, significant players analysis, market growth strategies, and key application areas.
The Global Potassium Sulphate Market is Segmented into:
|Forecast Period||2022 – 2028|
|Historical Year||2016 – 2021|
|Segmentation|| By type (2016–2028; US$ Bn)|
By Process (2016–2028; US$ Bn)
By End-use Industry (2016–2028; US$ Bn)
By Geography Segment (2016–2028; US$Bn)