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Potash Fertilizer Market Size

The potash fertilizer market is projected to experience significant growth over the forecast period, driven by various factors influencing its market size. Muriate of potash (MoP) stands out as the fastest-growing segment due to its high potassium content and cost-effectiveness, making it the most widely used potassic fertilizer. Field crops dominate the market share by crop type, reflecting their extensive cultivation and importance as staple foods globally. Soil application remains the preferred method for fertilizer application, enhancing plant health and soil fertility. Brazil emerges as a key player in the market, with its large agricultural land requiring substantial potassium inputs due to the acidic nature of its soils.

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Market Size of potash fertilizer Industry

Potash Fertilizer Market Summary
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svg icon Study Period 2017 - 2030
svg icon Market Size (2024) USD 20.35 Billion
svg icon Market Size (2030) USD 28.45 Billion
svg icon Largest Share by Product MoP
svg icon CAGR (2024 - 2030) 5.74 %
svg icon Largest Share by Region Asia-Pacific
svg icon Market Concentration Medium

Major Players
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*Disclaimer: Major Players sorted in no particular order

Key Players

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Potash Fertilizer Market Analysis

The Potash Fertilizer Market size is estimated at 20.35 billion USD in 2024, and is expected to reach 28.45 billion USD by 2030, growing at a CAGR of 5.74% during the forecast period (2024-2030).

20.35 Billion

Market Size in 2024 (USD)

28.45 Billion

Market Size in 2030 (USD)

5.61 %

CAGR (2017-2023)

5.74 %

CAGR (2024-2030)

Fastest Growing Type

5.94 %

Projected CAGR, SoP, 2024-2030

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The demand for Sulfate of potash has been growing, driven by its compatibility with chloride-sensitive crops and its perceived benefits in certain agricultural practices.

Largest Segment by Crop Type

87.43 %

value share, Field Crops, 2023

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The demand for potash fertilizer in the field crop segment remains high, particularly to address potassium deficiency to enhance the yield and quality of field crops.

Largest Segment by Application Mode

91.43 %

value share, Soil, 2023

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Soil application is widely practiced in agriculture as it is an inexpensive method of applying fertilizers, making it the largest segment in the market by application mode.

Largest segment by Country

14.55 %

value share, Brazil, 2023

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The growing demand for potash fertilizers for plant growth with increased extensive cultivation of various crops contributes significantly to the demand for potash fertilizers

Leading Market Player

17.63 %

market share, The Mosaic Company, 2022

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Mosaic is a well-known producer and marketer of concentrated phosphate and potash crop nutrients. The company has a strong presence in the North America region.

Despite its superior quality, SoP fertilizer has struggled to gain market share over MoP, primarily due to its higher price

  • Muriate of potash (MoP), a potassic fertilizer boasting the highest potash content at 60.0%, commanded a global market valuation of USD 22.44 billion in 2022. Concurrently, its consumption reached 37.3 million metric tons, representing a dominant 86.5% of the global potassium fertilizer consumption.
  • Sulphate of potash (SoP), with a potassium content of 50.0%, emerged as the second most favored potassium fertilizer worldwide. The global SoP fertilizer market, in 2022, was valued at USD 2.41 billion, with a consumption volume of 2.8 million metric tons.
  • South America, with a 28.6% market share in 2022, stands as the second-largest potassic fertilizer market, trailing the Asia-Pacific's 30.0% share. This is primarily due to South American countries, notably Brazil, boasting significant potassic fertilizer production, coupled with a robust demand from their crops.
  • Other notable potassic fertilizers, such as langbeinite and carnallite, collectively account for 4.1% of the global potassic fertilizer consumption. In 2022, this segment was valued at USD 1.06 billion, with a consumption volume of 1.7 million metric tons.
  • The price of SoP consistently surpasses that of MoP and other potassic fertilizers. For instance, since 2017, the price of SoP has nearly doubled that of MoP, and by 2021, it had more than doubled. Despite its superior quality, the higher price of SoP has limited its market share compared to MoP.
  • The potassic fertilizer market is poised for growth during 2023-2030, driven by factors like the escalating demand for enhanced crop productivity.
Global Potash Fertilizer Market

Asia-Pacific dominates the global potash fertilizers market

  • Asia-Pacific dominates the global potash fertilizers market, accounting for 40.0% of the market value in 2022. According to the analysis, the Asia-Pacific potash fertilizer market was valued at USD 10.37 billion in 2022. By fertilizer type, conventional potash fertilizers dominate the fertilizer market, accounting for about 71.1%, followed by specialty potash fertilizers contributing to 28.8% in 2022.
  • The Asia-Pacific, driven by its robust crop demand, notably relies on potash fertilizers, making it the largest consumer. Between 2017 and 2018, the region imported a substantial 7.0 million metric tons of potash fertilizers.
  • South America secured the global market share of 18.5% slice in 2022. Notably, the potassic fertilizer segment is witnessing rapid growth, primarily fueled by the expanding soybean cultivation in Brazil. Given its suitability for Brazil's low-fertility and acidic tropical soils, potassic fertilizers are aiding in boosting soybean yields. In 2017, Brazil alone accounted for the highest potash fertilizer usage in South America, reaching 6.3 million metric tons.
  • Europe, with an 9.4% market share in 2022, stood as the third-largest potash fertilizer market. Notably, countries like Poland, Belgium, and those in Southeastern Europe are the major consumers, collectively representing 70.5% of Europe's fertilizer market value. This segment is projected to register a CAGR of 5.0% from 2023 to 2030.
  • Across developing markets, potassium deficiency is a common issue in soils. Farmers are increasingly turning to potash fertilizers, not only to rectify potassium deficiencies but also to enhance their overall productivity. This trend is a significant driver for the market's growth.

Potash Fertilizer Industry Segmentation

Straight are covered as segments by Type. Fertigation, Foliar, Soil are covered as segments by Application Mode. Field Crops, Horticultural Crops, Turf & Ornamental are covered as segments by Crop Type. Asia-Pacific, Europe, Middle East & Africa, North America, South America are covered as segments by Region.

  • Muriate of potash (MoP), a potassic fertilizer boasting the highest potash content at 60.0%, commanded a global market valuation of USD 22.44 billion in 2022. Concurrently, its consumption reached 37.3 million metric tons, representing a dominant 86.5% of the global potassium fertilizer consumption.
  • Sulphate of potash (SoP), with a potassium content of 50.0%, emerged as the second most favored potassium fertilizer worldwide. The global SoP fertilizer market, in 2022, was valued at USD 2.41 billion, with a consumption volume of 2.8 million metric tons.
  • South America, with a 28.6% market share in 2022, stands as the second-largest potassic fertilizer market, trailing the Asia-Pacific's 30.0% share. This is primarily due to South American countries, notably Brazil, boasting significant potassic fertilizer production, coupled with a robust demand from their crops.
  • Other notable potassic fertilizers, such as langbeinite and carnallite, collectively account for 4.1% of the global potassic fertilizer consumption. In 2022, this segment was valued at USD 1.06 billion, with a consumption volume of 1.7 million metric tons.
  • The price of SoP consistently surpasses that of MoP and other potassic fertilizers. For instance, since 2017, the price of SoP has nearly doubled that of MoP, and by 2021, it had more than doubled. Despite its superior quality, the higher price of SoP has limited its market share compared to MoP.
  • The potassic fertilizer market is poised for growth during 2023-2030, driven by factors like the escalating demand for enhanced crop productivity.
Type
Straight
Potassic
MoP
SoP
Others
Application Mode
Fertigation
Foliar
Soil
Crop Type
Field Crops
Horticultural Crops
Turf & Ornamental
Region
Asia-Pacific
Australia
Bangladesh
China
India
Indonesia
Japan
Pakistan
Philippines
Thailand
Vietnam
Rest of Asia-Pacific
Europe
France
Germany
Italy
Netherlands
Russia
Spain
Ukraine
United Kingdom
Rest of Europe
Middle East & Africa
Nigeria
Saudi Arabia
South Africa
Turkey
Rest of Middle East & Africa
North America
Canada
Mexico
United States
Rest of North America
South America
Argentina
Brazil
Rest of South America
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Potash Fertilizer Market Size Summary

The potash fertilizer industry is poised for significant growth, driven by the increasing demand for enhanced crop productivity. The market is characterized by a diverse range of products, with Muriate of Potash (MoP) being the most widely used due to its high potash content and cost-effectiveness. Field crops dominate the market, reflecting their extensive cultivation and importance as staple foods globally. The soil application mode is preferred for its simplicity and effectiveness in improving plant health and soil fertility. Brazil stands out as a major market due to its large cropland area and acidic soils, which necessitate substantial potassium input. South America leads the global market, with significant contributions from Brazil, while Europe and North America follow as key regions.

The global potash fertilizer market is fairly consolidated, with major players like Eurochem, K+S AKTIENGESELLSCHAFT, Nutrien Limited, Petrokemija DD Fertilizer Factory, and The Mosaic Co. holding a significant share. The market's growth is supported by strategic acquisitions and partnerships, such as EuroChem's acquisition of a controlling stake in a Brazilian distributor and Mosaic's collaboration with Sound Agriculture to enhance nutrient efficiency. The market's expansion is further fueled by the need to address potassium deficiencies in soils, particularly in developing regions, thereby boosting agricultural productivity. As the demand for potash fertilizers continues to rise, the industry is expected to experience robust growth over the forecast period.

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Potash Fertilizer Market Size - Table of Contents

  1. 1. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2030 and analysis of growth prospects)

    1. 1.1 Type

      1. 1.1.1 Straight

        1. 1.1.1.1 Potassic

          1. 1.1.1.1.1 MoP

          2. 1.1.1.1.2 SoP

          3. 1.1.1.1.3 Others

    2. 1.2 Application Mode

      1. 1.2.1 Fertigation

      2. 1.2.2 Foliar

      3. 1.2.3 Soil

    3. 1.3 Crop Type

      1. 1.3.1 Field Crops

      2. 1.3.2 Horticultural Crops

      3. 1.3.3 Turf & Ornamental

    4. 1.4 Region

      1. 1.4.1 Asia-Pacific

        1. 1.4.1.1 Australia

        2. 1.4.1.2 Bangladesh

        3. 1.4.1.3 China

        4. 1.4.1.4 India

        5. 1.4.1.5 Indonesia

        6. 1.4.1.6 Japan

        7. 1.4.1.7 Pakistan

        8. 1.4.1.8 Philippines

        9. 1.4.1.9 Thailand

        10. 1.4.1.10 Vietnam

        11. 1.4.1.11 Rest of Asia-Pacific

      2. 1.4.2 Europe

        1. 1.4.2.1 France

        2. 1.4.2.2 Germany

        3. 1.4.2.3 Italy

        4. 1.4.2.4 Netherlands

        5. 1.4.2.5 Russia

        6. 1.4.2.6 Spain

        7. 1.4.2.7 Ukraine

        8. 1.4.2.8 United Kingdom

        9. 1.4.2.9 Rest of Europe

      3. 1.4.3 Middle East & Africa

        1. 1.4.3.1 Nigeria

        2. 1.4.3.2 Saudi Arabia

        3. 1.4.3.3 South Africa

        4. 1.4.3.4 Turkey

        5. 1.4.3.5 Rest of Middle East & Africa

      4. 1.4.4 North America

        1. 1.4.4.1 Canada

        2. 1.4.4.2 Mexico

        3. 1.4.4.3 United States

        4. 1.4.4.4 Rest of North America

      5. 1.4.5 South America

        1. 1.4.5.1 Argentina

        2. 1.4.5.2 Brazil

        3. 1.4.5.3 Rest of South America

Potash Fertilizer Market Size FAQs

The Global Potash Fertilizer Market size is expected to reach USD 20.35 billion in 2024 and grow at a CAGR of 5.74% to reach USD 28.45 billion by 2030.

In 2024, the Global Potash Fertilizer Market size is expected to reach USD 20.35 billion.

Potash Fertilizer Market Report Snapshots

Potash Fertilizer Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2030