Global Potassium Sulphate Market

 

The potassium sulphate market was valued US$ 4.65 Bn in 2019 and is expected to reach US$ 8.77 Bn by 2027, at a CAGR of X.12% during a forecast period.

 

Global Potassium Sulphate Market

Market Definition:

Potassium sulphate is generally famous as common fertilizer which is slightly soluble in water and white crystalline non-flammable salt. Having chemical formula 〖K_2 SO〗_4. This chemical compound is available in liquid, powder and granular forms and also applicable in research laboratory.

The report study has analyzed the revenue impact of COVID-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report, and the same is reflected in our analysis

Market Drivers and Restraints:

Escalating growth recorded by agricultural industries and stable form of potassium and sulfate is widely utilised as a primary choice in order to deliver significant benefits such as slat index, low chloride, potassium content and growth of the targeted industries are recording unstoppable growth and thus is expected to drive potassium sulphate market demand in near future. Increasing demand for the targeted materials for several chemicals depends on its different uses in industries, for instance, food preservation, agriculture, medical, industrial owing to its non-flammable and compressed characteristics and it is playing major role in market demand, though the above-mentioned industries are observing non-stop evolution in the base year will drive the product growth. Escalating progress in the pharmaceutical and its appropriate properties amplifying the product demand in the manufacturing of antibiotics and fulfilling all the demand by the medical sector and hence attracting the vendors to invest in the market. Hence, owing to its extensive choice of applications, potassium sulphate is broadly used in numerous end-user industries.

Additionally, potassium sulfate emerging in glass manufacturing industry owing to the suitable properties considered as an alternative influence probably to help the global potassium sulfate market growth in the coming years. Furthermore, extensive application of targeted market in healthcare industry includes dietary salts, for enteral and parenteral nutrition through potassium tablets, injection solutions, hemodialysis, potassium therapy, athletic nourishment and mineral drinks, and similarly for refinement of insulin expected to enhance the market demand across the globe owing to large chain of key vendors.

Furthermore, the presence of competitors in the market are expected to fluctuate the cost value is expected to hamper the potassium sulphate market by 2027. Cost of the synthesis is another factor to drop the market demand in the coming years.

Potassium Sulphate Market Segment analysis:

By the application sector, the agriculture subdivision is estimated to lead the market growth during the forecast period. The high demand for the product in agriculture is the result of bending attention of the producer to manufacture healthy and good quantity of crops such as vegetables, fruits, tobacco, nuts and further expected to propel the market demand during the forecasted period.
Additionally, water soluble nature of potassium sulphate plays vital role in drip irrigation and fertigation which broadly take part in the water conservation for the plants; hence considered as a major driving factor for the market since long.

Potassium Sulphate Market Regional Analysis:

Nationally, North America is expected to dominate the potassium sulphate market and is expected to grow at a CAGR of XX % during the forecast period. The forthcoming food, pharmaceutical, chemical and agricultural industry in the region post-2019 economic recession has positively influenced the product demand. Increasing demand for fertilizers in various agricultural sector which delivers enhanced quality is expected to encourage industry growth. Furthermore, technological advancement and developed industry will push the market demand in the coming years.

APAC holds the largest market share for potassium sulphate in 2019 after North America and is expected to show a significant growth during the forecast period. The key reason attributed to the rapid industrialization and thriving pharmaceutical and cosmetics, food industry as these sectors are involved in huge consumption of product thus promoting high consumption of potassium sulphate in above mentioned industries will boost the regional market growth. Developing regions like India, China, and Japan are considered major contributors for the Potassium Sulphate market growth in the Asia Pacific region.

The objective of the report is to present a comprehensive analysis of the Global Potassium Sulphate Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Potassium Sulphate Market dynamics, structure by analysing the market segments and project the Global Potassium Sulphate Market size. Clear representation of competitive analysis of key players by Purity, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Potassium Sulphate Market make the report investor’s guide.
Scope of Potassium Sulphate Market

Global Potassium Sulphate market, By Form

• Granular
• Powder
• Liquid
Global Potassium Sulphate market, By Application

• Agriculture
• Industrial
• Pharmaceutical
• Cosmetics
• Food
• Others
Global Potassium Sulphate Market, By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa
Key Players Operating the Potassium Sulphate Market,

• Guotou Xinjiang LuoBuPo Potassium Salt
• Qing Shang Chemical
• Migao Group
• Qinghai CITIC Guoan Technology
• AVIC International Holding
• Gansu Xinchuan Fertilizer
• Shijiazhuang Hehe Chemical Fertilizer
• Shandong Lianmeng Chemical Group
• Yantai Qifund Chemical
• Liaoning Xinshui Chemical
• Wuxi Yangheng Chemical
• K+S Group
• Tessenderlo Group
• Compass Minerals
• SQM
• YARA
• Rusal
• Sesoda

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