Global Potassium Chloride Market: Snapshot

Potassium chloride is salt of odorless and colorless metal halide which occurs naturally due to evaporation of ancient seabeds. The salts of the potassium chloride are generally known as muriate of potash (MOP) which are used as fertilizers.

Growth of the potassium chloride market is gaining traction by the surge in demand for potash fertilizers owing to its properties which supports the improvement in flavors, color, and texture to crops used as food. Additionally, the fertilizers industry is witnessing positive growth owing to higher demand from the developed and developing countries which are focusing on the improvement in agricultural sectors. The countries such as India and China are fuelling adoption of fertilizers and which is likely to boost the growth of the global potassium chloride market.

However, fluctuations in the prices of raw material lead to instability for farmers which is a key restraint for the growth of the global potassium chloride market. Nevertheless, the trend of adoption of bio-based fertilizers is creating lucrative growth opportunities for the key players operating in the potassium chloride market.

Thanks to these growth prospects, TMR estimates that the global potassium chloride market is likely to grow with a CAGR of 10.8% over the forecast period from 2013 to 2019. In 2012, the market registered revenue of more than US$21.6 bn and likely to reach the value of US$32.8 bn. In 2012, the global consumption of potassium chloride was recorded the volume of 51 mn tons.

Rising Need for Food to Boost Adoption of Fertilizers

On the basis of application, the potassium chloride market is segmented into fertilizers, pharmaceuticals, industrial and other. Of these, the fertilizer segment dominated the global market by gathering revenue of US$18.71 bn in 2012. This growth is attributable to the increasing demand for food grains due to increasing population from developed and developing countries. On the other hand, the industrial application segment is gaining traction owing to its utmost usage in the industries for water treatment plant.

Rising Initiatives for Improving Agricultural Productivities to Boost Adoption in Asia Pacific

On the basis of region, the global potassium chloride market is segmented into North America, Europe, Asia Pacific, and Rest of the World. Of these, demand from the Asia Pacific is increasing in order to improve agricultural productivities. To achieve higher yield production, the modern agricultural practices are used owing to this initiatives, the segment is likely to expand with CAGR of 5.2% over the forecast period from 2013 to 2019. In addition, in the developing countries such as India and China, the government initiatives such as farm subsidies and raising minimum prices. However, North America region is likely to account for the noticeable share owing to the advanced farming technology.

The global potassium chloride market has highly fragmented competitive landscape due to the presence of the large and small manufacturers of the potassium chloride. Some of the companies operating in the potassium chloride market are Agrium Inc., Arab Potash Company, Israel Chemicals Ltd. (ICL), JSC Belaruskali, and PotashCorp. The competition among these key players is expected to be intense in coming future with innovation and technological advancements. However, the key players have managed to maintain their share in the global market by geographical expansion. 

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)
.