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Potassium Sulphate Market By Form Solid (Standard & Granular), Liquid (Soluble SOP) By Process (Mannheim Process, Sulphate Salts Reaction, Brine Processing, Others) By End-use Industry (Agriculture, Industrial, Pharmaceuticals, Cosmetics, Food & Beverages, Others) - Growth, Future Prospects & Competitive Analysis, 2016 – 2028

About this report

The global Potassium Sulphate Market report explores the critical analysis of the Potassium Sulphate industry using key parameters. The report consists of investment strategies, the need for investments in the Potassium Sulphate industry, and the multiple benefits for the investors. Importantly, this report sets out major changes in the global technical regulations for the Potassium Sulphate industry, as well as how economic and non-economic barriers are helping the Potassium Sulphate market grow. Moreover, the report analyzes the global, regional, and country-level historic and forecasted market size. The report also provides a comprehensive analysis of key investment propositions, demand and supply gap, competitors positioning, STAR analysis, SRC analysis, and Tornado analysis. Key technological developments, and other analyses such as porter's five forces analysis, PESTEL analysis, value chain analysis, etc.

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Key Highlights of the report

How are the major segments performing in the Potassium Sulphate Market?

In 2021, the standard & granular categories dominated in the Form. These tiny potassium sulfate granules can be blended in large quantities for manual distribution. Granular form types are in high demand because of their cost-effectiveness and several other qualities, including their ideal potassium and sulfur contents. These variables are expected to result in an increase in granular potassium sulfate sales throughout the forecast period.

The Potassium Sulphate industry was driven by the agriculture sector in 2021, and this trend is projected to continue throughout the entire projection period. The producer's focus on producing a healthy and sufficient amount of crops, including vegetables, fruits, tobacco, and nuts, has led to the high demand for the product in agriculture, which is further predicted to drive market demand throughout the anticipated time. 

In 2021, the Mannheim process category in the process led the market. The Mannheim process, which involves heating potassium and other raw minerals (including magnesium, sodium, and chloride) to more than 600 degrees Celsius in a muffle furnace, is the most widely used method for creating SOP. Potassium sulfate is created when potassium chloride and sulfuric acid combine at this temperature due to the ease of using this process. This segment has the largest share. 

Which region dominated the Potassium Sulphate Market?

In 2021, Asia Pacific had the largest share among all the regions in the global Potassium Sulphate market. The main driver of this industrialization is the booming pharmaceutical, cosmetics, and food industries, which use large quantities of goods. Encouraging high consumption of potassium sulphate in these industries would help the regional market flourish. Developing nations like India, China, and Japan are credited with a large portion of the market growth for potassium sulphate. Rising urbanization, population growth, profit-driven expansion strategies, and product advancements from several major players are anticipated to drive potassium sulfate sales during the assessment period.

What is the competitive environment of the Potassium Sulphate Market?

The competitive environment of the potassium sulphate industry provides data on the total economic profit made by suppliers and businesses, the sales and revenues generated in this industry, the global market share of potassium sulfate, an overview of business organizations, the introduction of new products, and opportunities for the industrial potassium sulphate market. For instance, One of the leading producers of potash, Uralkali, announced in May 2020 that Uralkali Trading, a fully-owned subsidiary of Uralkali, had signed a deal for potash supplies with Indian Potash Limited (IPL), the main fertilizer importer from India. On the other hand, Sesoda Corporation's 130,000 tonnes per year factory in Su'ao, which manufactures various SOP products, including standard and granular grades, was reopened in January 2019.

Executive Summary

What is the Price Trend in the Potassium Sulphate Industry Market?

Prices for potash in North America were stable within a narrow range in Q4 of 2021 due to limited demand. Because of the approaching Christmas season, buyer interest has decreased over the last two months. Prices for muriate of potash (MOP) at CFR New York were USD 800/MT. Potash prices decreased in Asia in Q4 of 2021 after reaching a new high in the previous quarter. During the festive season, the Indian potash market turned bullish, supporting this rapid increase in India. After a decline in demand during the holiday season, the pattern turned around in the quarter's final month. Potash prices continued to decline in December as supply continued to outpace demand. Traders continued to have extensive conversations to promote the sale of existing goods before the year's conclusion as they worried about their inventory levels. 

Which are the key investments by the players in the Potassium Sulphate Industry Market?

Due to their flexibility and ability to adapt to any environment, potassium sulphate systems have been used in various sectors. The main participant makes numerous investments; for instance, The commissioning of the two-stage gas treatment unit at the Krasnoyarsk aluminum smelter to improve potassium sulphate production was announced by United Co. RUSAL Plc. in August 2017. The investment came to USD 1.14 million. 

Some major companies in the market are 

K+S KALI GmbH, Tessenderlo Group, SQM S.A., Sesoda Corporation, Migao Corporation, Compass Minerals International Inc., The Mosaic Company, Yara International ASA, SOPerior Fertilizer Corp., and Interpid Potash Inc.

What are the Major Dynamics Factors for the Potassium Sulphate Market?

To give substantial benefits such slat index, low chloride, potassium content, and the expansion of the targeted industries, the stable Form of Potassium and Sulphate is commonly employed as a major choice. This will likely fuel the demand for potassium sulphate over the projection period. The market expanded partly due to potassium sulfate's non-flammable and compacted qualities. The rising demand for the targeted materials for multiple chemicals due to their numerous uses in food preservation, medicine, agriculture, and other industries was another factor affecting potassium sulphate.

What are the Major Risks for the Potassium Sulphate Market?

Due to the high volatility of potassium prices, potassium sulphate prices swing rapidly. For instance, from the beginning of August 2021 to the middle of August 2021, the price of potassium sulphate decreased by 0.33%. Additionally, according to a study by the University of Calabar published in a research publication, neem fertilizers in organic farming significantly boost crop yield which is also restraining the potassium sulphate. Thus, in terms of consumption, these issues have emerged as potassium sulphate's main obstacles, restraining the market's expansion over the projection year.

Which is the key End-user in the Potassium Sulphate Market?

The agriculture dominated the Potassium Sulphate market in 2021. Using the unique features of potassium sulphate, an inorganic substance that contains sulfuric acid, it is becoming more common to produce high-quality crops and nutrient-rich feed. Due to the low concentration of chloride, which can harm crops, potassium sulphate is growing in popularity in the agricultural industry. In the agricultural sector, potassium sulphates are used in various applications, including the application of potassium sulphate to promote optimal growth when the soil builds up chloride from irrigation water. Potassium increases the thickness of the outer cell walls, which helps the plant withstand disease and promotes robust stem growth. A sufficient potassium supply can increase a plant's ability to withstand drought by reducing moisture loss from growing plants. They enhance the fruits' and vegetables' color, storage capacity, and flavor.

The market is anticipated to be heavily driven by the rising demand for arable land and high-yield crops in the countries of Asia and Latin America. The Asia-Pacific region currently produces more than half of the world's agricultural output, according to The Food and Agriculture Organization (FAO). In North America, Central Asia, and Europe, production accounts for about 45% of the total. Crop and livestock production in the Asia Pacific region is predicted to increase quickly, with Latin America and India contributing the majority of the region's 15% and 25% output growth, respectively. As agricultural productivity is already high and will be constrained by environmental and animal welfare regulations, production growth will be modest in Europe, Central Asia, and North America. By 2029, the FAO projects that crop production will have increased globally by about 15%. As a result, increased agricultural output will necessitate the use of more potassium sulphates, which will propel the potassium sulphate industry over the review period.

How is the Potassium Sulphate Market performing in regions?

In 2021, the global Potassium Sulphate market was dominated by Asia pacific. Due to the region's expanding agricultural businesses. China's Ministry of Agriculture and Rural Affairs and the Chinese Academy of Agricultural Sciences predicts that the nation's total grain output will increase by 0.9% from 2020 to 650 billion kg in 2021. In addition, China spent $928 billion on agriculture fiscally between 2016 and 2019. The region's agriculture economy is growing due to the rising population and per capita income. The Asia-Pacific potassium sulphate market was also driven by the booming agricultural industry and increasing demand for agricultural products and feed. For instance, the India Brand Equity Foundation (IBEF) released the report for country's production. In 2020 it was 314.51 million tonnes of food grains and that the government anticipated 316.23 million tonnes in 2021.  

What is the regulatory landscape for the Potassium Sulphate Market?

Governments are considering adopting a more stringent regulatory approach globally for the potassium sulphate. For instance, By the Fertilizer Control Order (FCO), potassium sulphate, which comprises sulfuric acid and acid salt, is used as fertilizer to enhance crop quality and can be applied to crops in both open fields and protected cultivation. 

What is the Market Size of Potassium Sulphate regarding value?

It is expected that the global potassium sulphate market will expand in the future at a significant CAGR of 4.10%. The value of the worldwide potassium sulphate market was projected to be USD 4.5 billion in 2021 and USD 5.7 billion in 2028.

What are major players planning for the future of the Potassium Sulphate Market?

The production capabilities increase for potassium sulphate is a top priority for major companies in the industry. In addition, to acquire a competitive edge, firms are concentrating on strategic mergers and acquisitions, collaborations, and raising farmers' awareness through various associations established to promote smart farming techniques to serve more end-use industrys in the domestic market.

Segmentation of Global Potassium Sulphate Market-

Global Potassium Sulphate Market – By Form

  • Solid (Standard & Granular)
  • Liquid (Soluble SOP)9

Global Potassium Sulphate Market, By Process

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

Global Potassium Sulphate Market, By End-use Industry

  • Agriculture
  • Industrial
  • Pharmaceuticals
  • Cosmetics
  • Food & Beverages
  • Others

Global Potassium Sulphate Market – By Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • South-east Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Rest of Middle East and Africa

Frequently asked questions about the Potassium Sulphate 

Most of the Agriculture facilities of significant chemical processing and food processing facilities are put on hold or shut down due to the social distancing policy, which has influenced the worldwide potassium sulphate market.

The Asia Pacific held the largest market share for Potassium Sulphate.

The demand for the chemical in the fertiliser market sector is projected to be driven by population growth, changes in eating patterns, and the accompanying increase in agricultural production, which is likely to considerably contribute to the expansion of the market.

Solid (Standard & Granular) segment had a major share in 2021.

The Agriculture segment had a major share in the global market in 2021.

Potassium Sulphate Market Scope

Report Attribute Details
Market Value in 2021 USD 4.5 billion
Market Value in 2028 USD 5.7 billion
CAGR 4.10%
Benchmarking Year 2021
Past data 2016 – 2021
Forecast period 2022 – 2028
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Godaddy
Published Date:  Oct 2022
Category:  Chemicals
Report ID:   60691
Report Format:   PDF
Pages:   130
Rating:    4.4 (50)
Delivery Time: 24 Hours to 48 Hours   
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