Global Potassium Chloride Market to Exhibit 10.8% CAGR from 2013-2019 as Demand from Fertilizers Industry Rises
Transparency Market Research has published a market research report that covers the global potassium chloride market. The report gives a comprehensive account of the past and present states of key market elements, detailed quantitative and qualitative data pertaining to market segments from regional as well as global standpoints, a thorough picture of the market’s regulatory scenario, and an analysis of the key factors that will have a major impact on future growth prospects of the global potassium chloride. The report states that the market will exhibit a favorable 10.8% CAGR over the duration between 2013 and 2019. If the forecasts come true, the market will rise from a valuation of US$21.6 bn in 2012 to US$32.8 bn by 2019.The report is titled “Potassium Chloride Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019.”
Potassium chloride, also called “Muriate of Potash”, is a metal halide salt of potassium and chlorine. Potassium chloride finds vast usage in water treatment systems, pharmaceuticals, consumer food products, animal feed, and in the production of potassium fertilizers. As potassium is one of the three most essential nutrients necessary for the proper growth in crops, the demand for potassium fertilizers is considerably increasing on a global front. In fact, the majority of potassium chloride produced across the globe is used for the production of fertilizers.
The report states that the global market for potassium chloride will be driven primarily by their rising demand in the fertilizer industry. The flourishing growth of the global organic industry in the past few years has also significantly boosted the global demand for potassium, and is expected to drive the global potassium chloride market over the report’s forecast period as well.
However, the market will be restrained to a certain extent owing to the rising health concerns surrounding the use of chemical fertilizers and the volatile prices of potassium chloride.
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The market has been segmented on the basis application and geography in the report.
Based on application, the market has been segmented into fertilizers, industrial uses, pharmaceuticals, and other applications such as food additives and animal feed. Of these, the segment of fertilizers held dominant position the market in 2012 and is also expected to witness growth at the fastest pace over the report’s forecast period.
Geographically, the market has been classified into Europe, Asia Pacific, North America, and Rest of the World. Asia Pacific dominated the market in 2012 owing to the flourishing agriculture industry of the region. The market for potassium chloride saw its second largest market in the Rest of the World section in 2012, primarily owing to an accelerated demand for KCI as a feedstock in biofuels from emerging countries such as Brazil.
The report also gives a thorough account of the competitive scenario of the market and presents detailed business profiles, details regarding finances, recent developments, business strategies, and opportunities and threats for some of the major vendors in the global potassium chloride market. The report profiles some of the major companies operating in the market such as Israel Chemicals Ltd. (ICL), Arab Potash Company, JSC Belaruskali, Uralkali, The Mosaic Company, PotashCorp, and Agrium Inc.