Potassium Humate: Introduction
- Potassium humate is the potassium salt of humic acid. It is manufactured commercially by alkaline extraction of brown coal (lignite) Leonardite, which is used primarily as a soil conditioner. The extraction is performed in water with the addition of potassium hydroxide (KOH), sequestering agents, and hydrotropic surfactants.
- Potassium humate is effective as a fertilizer, as it improves crop photosynthesis and chlorophyll density. It improves plant root respiration and results in increased plant growth and yield. It is completely soluble in water.
- It is a non-toxic, harmless, and suitable for green and organic agriculture. It can be applied in agricultural and horticultural plants, fruit trees, ornamental plants, turf and pasture for soil, and foliar & irrigating applications.
Key Drivers and Restraints of Potassium Humate Market
- Potassium humate is primarily employed in agriculture applications. Rise in concerns regarding environmental hazards and soil contamination due to the exploitation of chemical-based products on crops; and adoption of potassium humate as an important component in sustainable agricultural practices are primary factors driving the potassium humate market.
- Increase in demand for potassium humate for soil treatment is expected to create significant opportunities for the potassium humate market in the near future. Exogenous potassium humate application improves soil properties and increases fertility by increasing potassium (K) levels in the soil. This improves plant performance.
- Availability of customized product solutions in accordance with soil and crop type requirements as well as preference for agrochemical products due to their performance efficiency and environmentally friendly nature is expected to drive the market during the forecast period
Potassium Humate: Form Segment
- In terms of form, the global potassium humate market can be divided into powder/granules, flakes, and crystals
- The powder/granules segment is projected to hold major share of the global potassium humate market during the forecast period. Powder/granules of potassium humate are highly effective soil conditioners and activators that improve soil fertility and productivity. They are widely used by farmers since they help increase soil productivity. They are also used as technical materials in the manufacture of liquid products.
- The crystals segment is projected to follow the powder/granules segment during the forecast period. Crystals dissolves easily in water; therefore, they deliver high efficiency. Thus, demand for crystal form of potassium humate is high in the market.
Potassium Humate: Application Segment
- Based on application, the global potassium humate market can be segmented into foliar treatment, seed treatment, and soil treatment
- The soil treatment segment is projected to gain higher share of the global market during the forecast period. Potassium humate is a necessary natural material that can be used to improve the physio-biochemical properties of soils, as well as their performance and plant productivity. It improves soil health and environmental quality during crop cultivation. This is projected to boost the global potassium humate market in the next few years.
- The foliar treatment segment is projected to hold key share of the global potassium humate market in the near future. Potassium (K) is one of the most important macro-elements, especially for fruit trees. It plays an essential role in plant growth and development. Potassium humate, as a foliar application, is an effective, fast, and high-efficiency method of supplying trees with their nutritional needs during critical periods away from soil–cation interactions.
COVID-19 Impact on Potassium Humate Market
- On January 30, 2020, the International Health Regulations Emergency Committee of the World Health Organization (WHO) declared the Coronavirus disease (COVID-19) outbreak a public health emergency of international concern. Originating in China, the virus has spread to at least 214 countries and territories around the world.
- Several governments and private sector businesses are operating at a limited capacity or have ceased operations completely due to recent events surrounding the COVID-19 pandemic
- Manufacturing of various consumer goods and other products across the globe came to a halt due to the unavailability of raw materials, shortage of labor, etc. This is expected to hamper the potassium humate market.
Asia Pacific to Hold Leading Share of Potassium Humate Market
- In terms of region, the potassium humate market can be classified into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Asia Pacific is expected to hold major share of the global potassium humate market, followed by North America, and Europe, during the forecast period. India, China, Indonesia, the Philippines, Vietnam, and Thailand are among the major agricultural product manufacturing countries in Asia Pacific. This can be ascribed due to the diverse portfolio of agricultural crops, fruits, and vegetables in these countries. Rise in demand for healthy food products and growth in population are expected to boost the consumption and production of fruits and vegetables in the region in the near future. Availability of low-cost labor is also significant factor that is expected to drive the demand for potassium humate in Asia Pacific.
Key Manufacturers Operating in Potassium Humate Market
The potassium humate market was consolidated in 2020. Major players have prominent presence in developed and developing countries. Key manufacturers operating in the potassium humate market include:
- Humintech GmbH
- Even Agro S.L
- Bayer Crop Science
- Humate (Tianjin) International Limited
- Acuro Organics Limited
- Syngenta Crop Protection AG
- Zhengzhou Shengda Khumic Biotechnology Co. Ltd.
- Green Agri Solution
- Bhakti Chemicals Pvt. Ltd.
- Tagrow Co. Ltd.
- The Andersons Inc.
Potassium Humate Market: Research Scope
Potassium Humate Market, by Form
Potassium Humate Market, by Application
- Foliar Treatment
- Seed Treatment
- Soil Treatment
Global Potassium Humate Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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- Customer Experience Maps
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The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
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