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Published Date: 2014-05-15Number of Pages: 79

Potassium Chloride Market for Fertilizers, Pharmaceuticals, Industrial and Other Applications - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019

Potassium chloride (KCl) composed of chlorine and potassium is an odorless metal halide salt having a colorless crystal appearance. It is a naturally occurring mineral which is formed by the evaporation of the ancient sea beds. The compound is also known as “Muriate of Potash” (MOP) which is generally associated with its use as fertilizers. Potash is the most widely used fertilizer which comes in a variety of colors from red or pink to white depending upon the recovery and mining process used. White potash, also known as soluble potash is majorly used for liquid starter fertilizers. KCl naturally occurs as sylvinites when combined with sodium chloride (NaCl). Potassium is one of the three major nutrients necessary for plant growth. It serves as a regulator for different processes within the plant. Potassium chloride is widely consumed in the agriculture industry as potash fertilizer. Other applications of KCl include pharmaceuticals, chemical, and food processing. It is also used in treating hypokalemia and as an electrolyte replenisher. With the growing trend of biofertilizers in the agriculture industry, potash is being increasingly implemented as potash mobilizing biofertilizers for the purpose of enhancing the growth of the plant. According to The International Fertilizer Industry Association (IFA), approximately 30 potash expansion projects have been planned by manufacturers between 2013 and 2017. Large scale companies such as PotashCorp have made significant investments in brownfield potash expansion projects for the future accelerating the demand for potassium chloride over the next few years

Growth of the fertilizer industry has been one of the major factors driving the demand for potassium chloride in potash fertilizers. The global outlook for the fertilizer industry has been showing a positive growth, following the progressive demand for phosphate and potassium demand in emerging regions such as Asia Pacific. However, fluctuations in the prices of potassium chloride have resulted in creating unstable prices for crops and raw materials which has fuelled uncertainty for farmers. This factor is expected to hamper the growth of the market. Growing trend towards developing bio-based fertilizers is expected to provide new opportunities for the growth of the market.

Demand for potassium chloride was the highest from the fertilizer industry and the market was valued at USD 18.71 billion in 2012, and is also expected to be the fastest growing application segment in the next few years. Demand for potassium chloride has been significantly high in fertilizers on account of increasing demand for food grains due to increasing population from developed as well as developing economies. The industrial application segment has also been gaining significant importance owing to increasing use of potassium chloride in certain water treatment applications for safe and clean water consumption.

Demand for potassium chloride has been significantly high in Asia Pacific on account of improved agricultural productivity governed by regulatory bodies with the modernization of agricultural practices and equipment In addition, this region is anticipated to witness the fastest growth over the forecast period, rising at a CAGR of 5.2%, from 2013 to 2019.Increasing farmer subsidies, and raising minimum prices for key commodities have contributed towards the growth of several emerging economies such as China and India. The share of North America in the KCl market has been noticeable owing to the regions’ focus on advanced farming technologies.

Agrium Inc., Arab Potash Company, Israel Chemicals Ltd. (ICL), JSC Belaruskali, PotashCorp, The Mosaic Company, and Uralkali among others are some of the key players present in the potassium chloride industry. In addition, the potassium chloride market is fragmented due to presence of several large and medium scale potassium chloride manufacturers on a global as well as regional level.

global-potassium-chloride-market-volume-share-by-application-2012-and-2019

Potassium chloride is a metal halide salt composed of chlorine and potassium. It is also known as “Muriate of Potash”, a term which is primarily used in association with its use as a fertilizer. Potash is the most widely used potassium fertilizer and varies in color from red or pink to white depending upon the recovery and mining process used. Other uses of potassium chloride include pharmaceuticals, water treatment chemicals, animal feeds and consumer food products.

The report on potassium chloride provides a detailed analysis and forecast of the market on a global as well as regional level for a time period ranging between 2013 and 2019. On a global level, the market has been segmented on the basis of volume (kilo tons) and revenue (USD million) for a period of time ranging from 2013 to 2019. For an in-depth understanding of the market on the regional level, the demand has been forecast-based on volume (kilo tons) and revenue (USD million) for a time period ranging between 2013 and 2019. The report includes drivers and restraints and their impact on the growth of the market within the forecast period. Furthermore, the report encompasses opportunities available for the growth of the market, on a global as well as regional level.

For research, we have conducted in-depth interviews and discussions with numerous key industry participants and opinion leaders. Primary research represents the bulk research effort coupled with extensive secondary research. We reviewed key players’ annual reports, product portfolio, press releases, and relevant documents for competitive analyses and better understanding of the market. Secondary research includes in-depth research on current trends, technical writing, recent trades, internet sources, trade associations, statistical data from government websites and associated authorized agency websites. This has proved to be the most successful, effective, and reliable approach for obtaining concise data, capturing industry participants’ insights and recognizing opportunities and growth.

Secondary research sources that are typically referred to include, but are not limited to company websites, annual reports, financial reports, broker reports, investor presentations and SEC filings. It also includes internal and external proprietary databases, and relevant patent and regulatory databases, national government documents, statistical databases and market reports. News articles, press releases and web-casts specific to the companies operating in the market also serve as a part of secondary sources. 

We conduct primary interviews on an on-going basis with industry participants and commentators in order to validate data and analysis. A typical research interview fulfills various functions. First-hand information is obtained on the market size, market trends, growth trends, competitive landscape, future outlook, etc. It also helps in validating and strengthening the secondary research findings, and further develops the analysis team’s expertise and market understanding. The primary research involves e-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment and sub-segment across geographies

For a detailed understanding of the market, we have provided a thorough analysis of the value chain. In addition, we have covered the Porter’s five forces model, which provides a detailed understanding of the intensity of competition present in the market. Furthermore, the study includes a market attractiveness analysis, where the applications are benchmarked based on market size, growth rate and general attractiveness.  

The market has been segmented based on applications. The segment has been analyzed and forecast based on volume (kilo tons) and revenue (USD million) from 2013 to 2019. Additionally, the segment has been analyzed and forecast based on current trends at a global as well as regional level, for the given time period. Geographically, the market has been segmented into North America, Europe, Asia Pacific and Rest of the World (RoW), and the demand has been analyzed and forecast based on current trends for a period of six years. 

Profiles of certain leading companies have been covered in this report along with a detailed analysis of their market share. The study profiles companies such as Agrium Inc., Arab Potash Company, Israel Chemicals Ltd. (ICL), JSC Belaruskali, PotashCorp, The Mosaic Company, and Uralkali among others. The market has been segmented as below:

Potassium Chloride Market: Application Analysis
  • Fertilizers
  • Pharmaceuticals
  • Industrial
  • Others (Feed, food products, etc.)
Potassium Chloride Market: Regional Analysis
  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World (RoW)


 
 
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