Muriate of Potash (MOP) Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F, Segmented By Crop (Fruits & Vegetables, Sugar Cane, Wheat, Maize, Rice & Others), By Region (Asia-Pacific, Europe, North America, South America & Middle East & Africa), and Competition

Published Date: December - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Chemicals | Format: Report available in PDF / Excel Format

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Muriate of Potash (MOP) Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F, Segmented By Crop (Fruits & Vegetables, Sugar Cane, Wheat, Maize, Rice & Others), By Region (Asia-Pacific, Europe, North America, South America & Middle East & Africa), and Competition

Global Muriate of Potash (MOP) market is anticipated to grow appreciably in the forecast period of 2028 due to growing demand of food, rising concern about the soil degradation, growing adoption of modern farming techniques, and favorable government policies.

The global production of muriate of potash, surpassed 73 million metric tons in 2021, up from less than 32 million metric tons in 2009. MOP is the main source of potassium in fertilizers.

The potassium present in the makes muriate of potash an essential source of potassium for plant growth. Muriate of potash is primarily used as a fertilizer to supply potassium to plants. Potassium is a macronutrient required by plants for various physiological processes such as photosynthesis, enzyme activation, and water regulation. Muriate of potash helps plant for proper plant growth, improves root development, enhances drought tolerance, and increases resistance to bacteria, fungi, and pests. MOP also plays a crucial role in fruit development and quality.

Muriate of potash is suitable for a wide range of soil types, including sandy soils, loam soils, and clay soils. However, it should be used with caution in chloride-sensitive crops or in soils with high chloride levels, as excessive chloride can have negative effects on certain plants. Muriate of potash can be applied to the soil through broadcasting, banding, or fertigation through irrigation systems. The appropriate application rate depends on the specific crop, soil conditions, and nutrient requirements.

In addition to its role as a fertilizer, muriate of potash has several industrial applications. It is used in the manufacturing of potassium hydroxide, potassium carbonate, and various potassium salts. It is also used as a deicing agent for snow and ice removal on roads. Hence, the all these fators are expected to propel the global Muriate of Potash (MOP) market growth.

Growing Demand For Food Worldwide is a Key Factor for the Growth of the Muriate of Potash (MOP) Market

According to the Food and Agriculture Organization of the United Nations, “The high cost of healthy diets attached with persistently high levels of income inequality around the world is expected to put around 3 billion people to inaccessible form the healthy diets, especially the poor peoples worldwide”.

Balanced nutrient management is essential for optimizing crop growth and achieving high yields as potassium can be the essential macronutrient needed for plant growth. As potassium deficiency can negatively impact crop quality and yield, providing a concentrated source of potassium will allow farmers to supplement the soil with this vital nutrient and address nutrient deficiencies in agricultural systems.

In addition to quantity, the quality of food is also a crucial factor for the consumer as it directly impacts human health. Potassium plays a significant role in enhancing the quality and nutritional value of crops and contributes to the development of strong plant structures, improves fruit quality, and increases the shelf life of harvested produce. MOP's application helps ensure that crops receive an adequate supply of potassium leading to improved crop quality and longer post-harvest storage potential.

Climate change and unpredictable weather patterns pose challenges to agricultural productivity. Droughts, salinity, and other environmental stresses can adversely affect crop growth where potassium positively impacts the plant water regulation and stress tolerance mechanisms. By using MOP, farmers can support plants in surviving adverse conditions, minimizing yield losses, and increasing resilience to environmental stresses.

According to The Observatory of Economic Complexity, the top exporters of Potassic Fertilizers in 2021 were Canada (USD 6.03 billion), Russia (USD 3.53 billion), Belarus (USD 2.63 billion), Germany (USD 1.53 billion), and Jordan (USD 1.2 billion).


MIR Segment1

Growing Adoption of Modern Farming Techniques to Increase the Demand from Muriate of Potash (MOP) Market

The rising adoption of modern farming techniques is indeed driving the demand for the Muriate of Potash (MOP) market. Modern farming techniques, such as intensive agriculture and high-yield farming, aim to maximize crop production within a limited land area. These practices involve high-density planting, improved crop varieties, and advanced irrigation systems. To support the increased nutrient requirements of crops grown under intensive farming, the demand for potassium fertilizers like MOP rises.

Precision agriculture utilizes technologies like remote sensing, GPS, and data analytics to optimize farming operations. By accurately assessing soil nutrient levels and crop needs, farmers can apply fertilizers in a targeted and efficient manner. MOP, being a concentrated source of potassium, is commonly used in precision agriculture to supply the required potassium levels precisely where and when crops need it, leading to improved nutrient utilization and yield.

CEA (Controlled Environment Agriculture) involves growing crops in controlled environments such as greenhouses, vertical farms, and hydroponic systems. These systems provide optimal growing conditions, allowing farmers to achieve higher yields and better crop quality throughout the year. MOP is often used in CEA systems to provide a readily found at source of potassium, as the controlled environments can deplete potassium levels faster due to the absence of natural replenishment.

Hydroponics and soilless cultivation methods are gaining popularity owing to their water-saving potential, efficient nutrient delivery, and year-round crop production capabilities. But these systems heavily rely on nutrient solutions to supply all the essential elements, including potassium. MOP is commonly used in hydroponic systems to provide the necessary potassium levels for optimal plant growth and development.

Modern farming techniques emphasize sustainable practices that reduce environmental impact. Balanced nutrient management is a key aspect of sustainable agriculture. MOP, when used judiciously in conjunction with soil testing and crop nutrient requirements, helps optimize nutrient usage and minimize nutrient losses, promoting sustainable farming practices.

Moreover, the dissemination of knowledge about the importance of potassium in crop production and the benefits of using MOP as a potassium source has led to increased awareness among farmers. They will be likely a fast adoption of MOP and other potassium fertilizers to improve their yields and crop quality as farmers become more informed about the role of potassium in plant nutrition. Therefore, all these factors are expected to increase the global Muriate of Potash (MOP) market share in the forecasted period.

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Recent Developments

Market Segmentation

Global Muriate of Potash (MOP) market

Company Profiles

Israel Chemical Limited, Indian Potash Ltd (IPL), Agrium Inc., The Mosaic Company, BHP Group Ltd, Arab Potash Company (APC), Uralkali PJSC, CF Industries Holdings Inc., K+S Kali Gmbh, and Intrepid Potash Inc. are some of the key players of global Muriate of Potash (MOP) market.

Attribute

Details

Base Year

2022

Historic Data

2018 – 2021

Estimated Year

2023

Forecast Period

2024 – 2028

Quantitative Units

Revenue in USD Million, and CAGR for 2018-2022 and 2023-2028

Report coverage

Revenue forecast, Volume Forecast, company share, competitive landscape, growth factors, and trends

Segments covered

Crop  

Regional scope

North America, Europe, Asia Pacific, South America, Middle East & Africa

Country scope

United States, Mexico, Canada, Germany, Spain, United Kingdom, France, Italy, China, Japan, India, South Korea, Australia, Brazil, Colombia, Argentina, South Africa, Saudi Arabia, and UAE.

Key companies profiled

Israel Chemical Limited, Indian Potash Ltd (IPL), Agrium Inc., The Mosaic Company, BHP Group Ltd, Arab Potash Company (APC), Uralkali PJSC, CF Industries Holdings Inc., K+S Kali Gmbh, and Intrepid Potash Inc.

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