DALLAS, TX — The potash fertilizer market is expected to grow from a $21.6 billion value in 2017 to $26.87 billion by 2022, registering a 4.47 percent compound annual growth rate (CAGR). The report Potash Fertilizers Market by Type (Potassium Chloride, Sulfate of Potash, Potassium Nitrate), Crop Type (Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables), Application Method, Form, and Region — Global Forecast to 2022 by Markets and Markets, a market research firm, predicts that market growth for potash fertilizers can be attributed to the need for higher productivity using limited land area and an increase in applicability of potash fertilizers.
In terms of market share, the potassium chloride segment was estimated to hold the largest market share for potash fertilizers in 2017. This material is used mostly for crops and is also called muriate of potash (MOP). MOP has a high nutrient content and is typically used for field, horticultural, and plantation crops. When comparing application methods for potash fertilizers, the largest segment in 2017 was the broadcasting segment. This application method requires less fertilizer, making it an economical option for large-scale crop producers. The report predicts that this economical application method is one of the major market drivers for the application segment. For more info and to purchase a report for $5,650, visit www.marketsandmarkets.com.