Major players in the Potash market include The Mosaic Company, Potash Corporation of Saskatchewan, K+S AG, Israel Chemicals, and Uralkali.
The global potash market will grow from $22.04 billion in 2022 to $23.03 billion in 2023 at a compound annual growth rate (CAGR) of 4.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The potash market is expected to grow from $30.61 billion in 2027 at a CAGR of 7.4%.
The Potash market includes revenues earned by entities by providing mining services for potash mines such as Sylvite, Polyhalite, Langbeinite, and Carnallite.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Potash refers to the mining process through conventional and solution mining methods and is used to mine potash.
South America was the largest market in the Potash market in 2021. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The main types of Potash are potash-agriculture and potash-industrial.Potash (potassium chloride, KCl) is used primarily as an agricultural fertilizer because it is an excellent source of soluble potassium, one of the three primary plant macronutrients along with nitrogen and phosphorus.
The various applications involved are grains and cereals, pulses and oilseeds, commercial crops, fruits and vegetables, and other applications The main types of anthracite mining are standard-grade anthracite, high-grade anthracite, and ultra-high-grade anthracite.Standard grade is used as a domestic fuel and in the production of industrial power.
The mining type includes underground mining, and surface mining.
The growth in the Potash market is due to the increasing demand for mining in North America.For instance, in 2022, according to International Trade Administration, a US-based government agency, mining accounted for almost 10% of the total GDP in 2020, being a major contributor to Australia’s economy.
Further, according to British Geological Survey, a UK-based government agency, the global production of several minerals such as potash and bauxite increased by more than 5 percent in 2020 compared to the previous year.
Potash solution mining techniques are being utilized for Potash to improve extraction efficiency and increase profitability.Potash solution mining involves boring injection and recovery wells into the ground.
A heated brine solution is injected into the deposit to dissolve the potash salts. The dissolved salts are then extracted to the surface and potash is separated and conditioned, which is the major trend in the Potash market.
The regions covered in Potash report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The countries covered in the Potash market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The potash market research report is one of a series of new reports that provides potash market statistics, including potash industry global market size, regional shares, competitors with a potash market share, detailed potash market segments, market trends and opportunities, and any further data you may need to thrive in the potash industry. This potash market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.