Potassium Chloride Market for Fertilizers, Pharmaceuticals, Industrial and Other Applications - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019
Albany,NY (PRWEB) September 18, 2014
In its market research report published recently, Transparency Market Research, a U.S. - based market intelligence firm states that the global potassium chloride market which had a market value worth $ 21.67 billion in 2012 is expected to reach an approximate value of $32.87 billion by 2019. The report, titled ‘Potassium Chloride Market for Fertilizers, Pharmaceuticals, Industrial and Other Applications - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019,’ is now available for sale on the company’s website.
This report states that the global market for potassium chloride is mainly driven by the fertilizer industry. As the name suggests, potassium and chlorine makes up potassium chloride which is a metal halide salt. Potassium chloride is not only used in the fertilizer industry but is also applied in industries like animal feeds, pharmaceutical, and consumer food items. It is also used to prepare water purification chemicals. The color of potash, which is a fertilizer, varies from white to red and sometimes even pink. White potash being a soluble form is mostly used in the production of liquid starter fertilizers. Potassium chloride is used as an electrolyte replenisher and is also used in treatment of hypokalemia.
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The TMR report has described in detail the market demand for potassium chloride in revenue terms and also in terms of volume. It also includes the analysis of the prevailing competition, the possible restraints and the opportunities at the regional and global level for the forecast period of 2013 to 2019. Information provided in this report has been derived from primary and secondary sources. Primary research involves discussions and interviews with opinion leaders, telephonic interviews, e-mail interactions and crucial industry participants. Secondary research includes detailed findings on statistical data on government websites, reliable internet sources, technical writing, current trends and trade associations.
According to this market research report, high demand for potash fertilizers drives the global potassium chloride market. The fertilizer application segment reported highest demand for potassium chloride in the year 2012. The fertilizer segment of the potassium chloride market is estimated to grow rapidly at 5.1% CAGR from 2013 to 2019. The demand for potassium chloride driven by industrial applications is expected to grow in industrial potash producing economies like the US, Germany and North America.
Due to better agricultural productivity, the Asia Pacific has been a significant consumer of potassium chloride. Moreover, this region will witness the highest rate of growth of 5.2% CAGR from 2013 to 2019. The high demand for fertilizers mostly comes from developing economies like India and China which have increasing populations. As a result, there is higher demand for food and this drives the agricultural sector. Due to the participation of several types of manufacturers at the regional and global level, the potassium chloride market is highly fragmented.
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This research report has given a detailed overview of the significant players in the global potassium chloride market. Some of the key companies covered in this report are Sinofert Holdings, Israel Chemicals Ltd., Potash Corporation of Saskatchewan Inc., Sociedad Química y Minerade Chile (SQM), Agrium Inc., Joint Stock Company (JSC) Belaruskali, K+S Aktiengesellschaft, Arab Potash Company (APC), Israel Chemicals Ltd. and The Mosaic Company.
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