According to TechSci Research report, “Potassium Sulphate Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”, the Global Potassium Sulphate Market stood at USD 4185.23 million in 2022 and is anticipated to grow with a CAGR of 3.43% in the forecast period, 2024-2028. The initiatives taken by government based on potassium sulphate has led to favorable market conditions for the Global Potassium Sulphate Market. Several factors contribute to the growth of various potassium sulphate products.
The Department of Fertilizers in India has included Potash derived from Molasses (PDM) in the Nutrient-Based Subsidy (NBS) scheme. This inclusion aims to reduce import dependence on potash and promote the use of domestically produced potash fertilizers, such as potassium sulphate.
India is striving to achieve self-sufficiency in potash production. The government has been implementing measures to increase domestic production of potash, including potassium sulphate, to meet the growing demand in the agriculture sector. These efforts aim to reduce reliance on imports and support agricultural development in the country.
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Potassium sulphate, a vital ingredient in hair care products, plays a crucial role in promoting overall scalp health and stimulating hair growth. By maintaining a balanced pH level on the scalp, it effectively combats dandruff and nourishes hair follicles, resulting in healthier and stronger strands. Moreover, the inclusion of potassium sulphate in conditioning agents maximizes their effectiveness, leaving hair irresistibly soft, remarkably smooth, and effortlessly manageable.
Moreover, potassium sulphate possesses remarkable properties that benefit individuals struggling with acne-prone skin. Its anti-inflammatory and antimicrobial properties help soothe redness, reduce inflammation, and combat the bacteria responsible for acne breakouts. For this reason, personal care products like face masks, toners, and spot treatments often incorporate potassium sulphate, harnessing its potent acne-fighting capabilities to deliver clearer and more radiant skin.
Global Potassium Sulphate Market is segmented into form, application, regional distribution, and company
Based on its application, the agriculture segment held the largest share in the market. Potassium sulphate, an inorganic compound, is an exceptional source of potassium (K) nutrition for plants and crops. This essential nutrient plays a crucial role in various physiological processes, including osmoregulation, enzyme activation, and nutrient transportation within the plant. The K portion is similar to other commonly known potash fertilizers, making it a reliable choice for farmers and gardeners alike. In addition to providing potassium, potassium sulphate also serves as a valuable source of sulphate (S) for plants. Sulphate is an essential element required for protein synthesis and enzyme functions, contributing to the overall growth and development of plants. It aids in the formation of amino acids, vitamins, and secondary metabolites, ensuring optimal plant health and productivity. The increasing demand for high-quality crops is a major driving factor for the potassium sulphate market.
As per the Food and Agriculture Organization (FAO) report, global cereal production in 2021 has witnessed a significant increase of 1.7% compared to the previous year. This surge in demand for cereals and other crops underscores the importance of efficient nutrient management practices, including the use of potassium sulphate, to meet the growing food requirements of a rapidly expanding population. Moreover, many countries in the Asia-Pacific region heavily rely on the agricultural sector for their GDP growth. In countries such as China, India, South Korea, Japan, and Indonesia, the agriculture industry plays a vital role in the overall economic landscape. This strong dependency on agriculture creates a robust demand for agricultural inputs, including potassium sulphate, to enhance crop productivity and ensure food security. Considering these factors, the global potassium sulphate market is expected to experience significant growth in the coming years.
Based on region, Asia Pacific segment is expected to grow during the forecast period. The accelerating agricultural industries in the region can be attributed to the increasing demand for agricultural crops and feed. This, coupled with the growth in the cosmetics sector, has contributed to the remarkable expansion of the skin care market in this area. The region’s population growth and rising per capita income have further boosted the agricultural industry, as indicated by the Chinese Academy of Agricultural Sciences and the Ministry of Agriculture and Rural Affairs of China. Their data reveals that the total grain output is projected to exceed 650 billion kg in 2021, showing a 0.9% increase from 2020.
Moreover, China’s agriculture fiscal spending reached an impressive US$928 billion during the 2016-2019 period. With such a flourishing agricultural industry, the demand for agricultural crops and feed is expected to surge, consequently driving the potassium sulphate market in the Asia-Pacific region.
Major companies operating in Global Potassium Sulphate Market are:
- K+S KALI GmbH
- Tessenderlo Group
- Compass Minerals International, Inc.
- SQM S.A.
- Yara International ASA
- Sesoda Corporation
- Egyptian Chemical Fertilizers Co.
- Ram Shree Chemicals
- Gujarat Agri-Chem Industries Private Limited
- AG CHEMI GROUP s.r.o.
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“Growing application of potassium sulphate in various end user industries are key drivers of the potassium sulphate market. Growth in competitive landscape and presence of well-established countries in the market who are dedicated to enhance their productivity of potassium sulphate with every passing year are anticipated to register an impressive growth to Global Potassium Sulphate Market in the forecast period.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.
“Potassium Sulphate Market By Form (Powder, Liquid, Granular), By Application (Agriculture, Personal Care, Pharmaceuticals, Food & Beverages, Others), By Region, By Competition Forecast & Opportunities, 2018-2028F”, has evaluated the future growth potential of Global Potassium Sulphate Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Potassium Sulphate Market.
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