H1 2023: In H1 2023, the Asia Pacific region experienced a mixed market scenario for Potassium Chloride. In H1 2023, the price trend of potassium chloride changed attitudes. Cost pressure was strong in January due to high feedstock raw material prices for potash till mid- Feb 2023. The pricing pattern during the mid- Feb 2023 revealed conflicting feelings as China imported too much of the good. However, China lowered their prices in March 2023. Due to reduced demand from the downstream businesses that produce fertiliser, prices declined in China till June. There was enough material available in Asia, which caused a slowdown in customer queries. The price of potassium chloride in the Chinese domestic market was reduced due to inexpensive Russian imports. In Indian market, the prices remained floating due to reliance on imports and freight charges between Russia and India. In June 2023, imports from India fell due to weak domestic demand by the downstream fertilizer sector. in H1 2023, Germany saw a bearish trend for potassium chloride. Due to weak demand from the downstream fertilizer industry, potassium chloride prices fell in the domestic German market. Due to considerable price reductions in the worldwide market caused by cheap imports from Russia, price of potassium chloride also trended downwards in Germany.
The global Potassium Chloride market has expanded to reach approximately 65.7 million tonnes in 2022 and is expected to grow at an impressive CAGR of 4.12% during the forecast period until 2030.
Potassium chloride, sometimes referred to as potassium salt, is a metal halide salt made of potassium and chlorine. Potassium chloride is an inert substance that resembles a white or colourless vitreous crystal. The muriate of potash, which is used as fertiliser, is the potassium chloride salt. Additionally, most of the potassium chloride generated globally is used to create fertilisers. KCl maintains the proper level of intracellular tonicity, which is necessary for the synthesis of nucleic acids, skeletal and cardiac muscle contraction, and nerve conduction. Additionally, it serves as an oscillator for welding aluminium with sodium and lithium chloride in gas. It is added to animal feed as a supplement to increase the amount of nutrients, which promotes animals' healthy growth. It has the added benefit of increasing milk production. In addition to replacing sodium chloride in domestic water softening devices, it is occasionally utilised in water as a finishing fluid in petroleum and natural gas operations. Granular potash is used in the production of glass as a flux to lower the melting point of mixtures. Potash is typically used in eyeglasses, glassware, televisions, and computer monitors because it gives glass an admirable degree of clarity.
One of the main factors propelling the expansion of the worldwide potassium chloride market is the rise in the use of potassium chloride in fertilisers. Similar to how rising demand for natural food products encouraged increased use of potash fertilisers, which in turn boosted potassium chloride industry expansion. The global Potassium Chloride market is anticipated to reach 90.7 million tonnes by 2030.
The Asia Pacific region dominates the Potassium Chloride market in terms of consumption. Because of its abilities to support the enhancement of flavours, colour, and texture in crops consumed as food, potassium chloride is becoming more and more in demand as a fertiliser. Additionally, the business for fertilisers is expanding favourably as a result of increased demand from developed and developing nations that are concentrating on the development of their agricultural sectors. Fertiliser usage is being fueled by nations like China and India, which is projected to promote expansion in the worldwide potassium chloride market.
Based on type, global potash market is segmented into Muriate of Potash (KCl), Sulphate of Potash (K2SO4), Nitrate of Potash (KNO3), and Others. For fertilising pastures, sugar cane, fruit trees, vegetables and other field crops, Muriate of Potash is widely employed.
Based on the end-use, the global Potassium Chloride market is segregated into Fertilizers, Pharmaceuticals, Detergents, and Others. Potassium chloride is often used to prevent or to treat low blood levels of potassium. This medical condition is called hypokalemia.
Major players in the Global Potassium Chloride market are Arab Potash Company (APC), Nutrien Ltd. , Qinghai Salt Lake Potash Co.,Ltd., Uralkali JSC, The Mosaic Company, ICL Group Ltd., Intrepid Potash Inc., Belaruskali JSC, EuroChem Group AG, Safmar Group, Verkhnekamsk Potash Company, and Others.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2030
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Objective of the Study:
• To assess the demand-supply scenario of Potassium Chloride which covers production, demand and supply of Potassium Chloride market in the globe.
• To analyse and forecast the market size of Potassium Chloride
• To classify and forecast Global Potassium Chloride market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Potassium Chloride market in the globe.
To extract data for Global Potassium Chloride market, primary research surveys were conducted with Potassium Chloride manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Potassium Chloride market over the coming years.
ChemAnalyst calculated Potassium Chloride demand in the globe by analyzing the historical data and demand forecast which was carried out considering the historical extraction and supply and demand of Potassium Chloride across the globe. ChemAnalyst sourced these values from industry experts, and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Potassium Chloride manufacturers and other stakeholders
• Organizations, forums and alliances related to Potassium Chloride distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Potassium Chloride manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Potassium Chloride market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2022
65.7 million tonnes
Market size Volume by 2030
90.7 million tonnes
Growth Rate
CAGR of 4.13% from 2023 to 2030
Base year for estimation
2023
Historic Data
2015 – 2022
Forecast period
2024 – 2030
Quantitative units
Demand in million tonnes and CAGR from 2023 to 2030
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Type, Demand by Sales Channel, Demand-Supply Gap, Foreign Trade, Company Share, Manufacturing Process.
Segments covered
By End-Use: [Fertilizers, Pharmaceuticals, Detergents, and Others]
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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Market Data & Insights
Table of Content
1. Industry Market Size
It is an essential metric for market analysis, as it provides insights into the overall size and growth potential of Potassium Chloride market in terms of value and volume.
2. Capacity By Company
On our online platform, you can stay up to date with essential manufacturers and their current and future operation capacity on a practically real-time basis for Potassium Chloride.
3. Capacity By Location
To better understand the regional supply of Potassium Chloride by analyzing its manufacturers' location-based capacity.
4. Plant Operating Efficiency
To determine what percentage manufacturers are operating their plants or how much capacity is being currently used.
5. Production By Company [Quarterly Update]
Study the historical annual production of Potassium Chloride by the leading players and forecast how it will grow in the coming years.
6. Demand by Type
Learn about the various types of Potassium Chloride- Muriate of Potash (KCl), Sulphate of Potash (K2SO4), Nitrate of Potash (KNO3), and Others, and their demands. It will allow you to choose which grade to concentrate on when designing your strategy.
7. Demand by End- Use [Quarterly Update]
Discover which end-user industry [Fertilizers, Pharmaceuticals, Detergents, and Others] are creating a market and the forecast for the growth of the Potassium Chloride market.
8. Demand by Region
Analyzing the change in demand of Potassium Chloride in different regions, i.e., North America, Europe, Asia Pacific, Middle East and Africa, and South America, that can direct you in mapping the regional demand.
9. Demand by Sales Channel (Direct and Indirect)
Multiple channels are used to sell Potassium Chloride. Our sales channel will help in analyzing whether distributors and dealers or direct sales make up most of the industry's sales.
10. Demand-Supply Gap
Determine the supply-demand gap to gain information about the trade surplus or deficiency of Potassium Chloride.
11. Company Share
Figure out what proportion of the market share of Potassium Chloride is currently held by leading players across the globe.
12. Country-wise Export
Get details about quantity of Potassium Chloride exported by major countries.
13. Country-wise Import
Get details about quantity of Potassium Chloride imported by major countries.
14. Manufacturing Process
Discover insights into the intricate manufacturing process of Potassium Chloride.
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What is the expected global market size of Potassium Chloride in terms of volume for 2030?
Ans:
The global market size of Potassium Chloride is expected to rise in the upcoming years and reach approximately 90.7 million tonnes by 2030, with an expected CAGR of 4.13%.
Q2.
Which end-use industry is dominating the Global Potassium Chloride market?
Ans:
The Fertilizers industry is dominating the Potassium Chloride market with a market share of 92% in 2022.
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