Potassium Sulphate Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Form (Powder, Liquid, Granular), By Application (Agriculture, Personal Care, Pharmaceuticals, Food & Beverages, Others), By Region and Competition
Published Date: December - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Chemicals | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationPotassium Sulphate Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Form (Powder, Liquid, Granular), By Application (Agriculture, Personal Care, Pharmaceuticals, Food & Beverages, Others), By Region and Competition
| Forecast Period | 2018-2028 |
| Market Size (2022) | USD 4185.23 million |
| CAGR (2024-2028) | 3.43% |
| Fastest Growing Segment | Agriculture |
| Largest Market | Asia Pacific |
Market Overview
Global Potassium Sulphate Market has valued at USD 4185.23 million in 2022 and is anticipated to project robust growth in the forecast period with a CAGR of 3.43% through 2028. Potassium sulphate, also known as potassium sulfate, sulphate of potash (SOP), arcanite, and dipotassium sulfate, is a white water-soluble mixture of potassium and sulphate. It is an inorganic compound that acts as an acid salt of sulfuric acid. In the agricultural sector, both potassium and sulfate play a crucial role as key ingredients for animal nutrition and fertilizers. As the market evolves, some notable trends are emerging, such as the rising demand for low toxic fertilizers and animal feed, which is expected to significantly contribute to the growth of the potassium sulphate market. The rapid expansion of high yield farmlands has led to an increased demand for specialty crops, thereby driving the market growth.
Key Market Drivers
Growing Demand from Medical and Industrial Applications
Increase in Agricultural Production
Growing Demand of Potassium Sulphate in Food and Beverage Industry
Key Market Challenges
Volatility in Price and Natural Fertilizers
Key Market Trends
Technological Innovations in Manufacturing
Segmental Insights
Application Insights
Form Insights
Regional Insights
Recent Developments
- In May 2020, Uralkali, one of the largest potash producers in the world,proudly announced that Uralkali Trading, a wholly owned subsidiary,successfully concluded a significant contract with Indian Potash Limited (IPL),a major importer of fertilizers in India. This contract signifies a significantmilestone in the partnership between Uralkali and IPL, as it solidifies theircommitment to the supply of high-quality potash for agricultural needs inIndia.
- In January 2019, Sesoda Corporation took a momentous step by reopeningits state-of-the-art facility in Su'ao. With a capacity to produce 130,000 tonsper year, this facility specializes in the production of a wide range of SOP(Sulphate of Potash) products. These products include both standard andgranular grades, catering to the diverse needs of farmers and agriculturalindustries worldwide. The reopening of this facility not only signifies SesodaCorporation's dedication to excellence but also strengthens their position as aleading provider of top-notch SOP products.
Key Market Players
- K+S KALI GmbH
- Tessenderlo Group
- Compass Minerals International, Inc.
- SQM S.A.
- Yara International ASA
- Sesoda Corporation
- Egyptian Chemical Fertilizers Co.
- Ram Shree Chemicals
- Gujarat Agri-Chem Industries Private Limited
- AG CHEMI GROUP s.r.o.
| By Form | By Application | By Region |
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