Potash Ores Market by Manufacturers | EuroChem, Intrepid Potash, Uralkali, Mining Associates, Agrium Inc., JSC Belaruskali
Potash Ores Marke Analysis
The potash ore market is projected to grow at healthy CAGR between 2016–2027, as per the recent Market Research Future (MRFR) report. Potash ores simply put are raw materials used to manufacture fertilizers, potash, and other chemicals. It generally comprises carbonate, anhydrite, silicate, potassium chloride, and sodium chloride.
Numerous factors are adding to the Potash Ore Market growth. These factors, according to the recent Market Research Future report, include growing demand for potash mobilizing bio-fertilizers, growing disposable income in developing economies, demand for animal feed and food, increasing use in textiles, food products, photographic chemicals, soap manufacturing, and industrial water treatment, and growing demand for organic food.
On the contrary, fluctuating potassium chloride prices and rising health concerns from consumption of potash fertilizers are factors that may limit the global potash ore market growth.
Key Players
Eminent players profiled in the global potash ores market report include BHP Billiton Ltd, Encanto Potash Corp., Uralkali, PotashCorp, Elementals Minerals Limited, Israel Chemicals Ltd, K+S GmbH, JSC Belaruskali, Agrium Inc., Mining Associates, Uralkali, Intrepid Potash, and EuroChem.
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Market Segmentation
The Market Research Future report provides an all-inclusive segmental analysis of the global potash ore market based on mineral extracted and applications.
By mineral extracted, the global potash ore market is segmented into potassium chloride, sodium chloride, and others. Of these, the potassium chloride segment will command the largest share in the market during the forecast period for its rising use in fertilizer production in the agriculture sector and wide applications in the fruits, and plants development, and others.
By application, the global potash ore market is segmented into the chemical industry, agriculture industry, and others. The others are segmented into the metallurgy industry.
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Regional Analysis
Geographically, North America will dominate the global potash ore market during the forecast period for having the largest organic food market and also for the growing demand for animal feed and food. Canada is a major contributor in the region, followed by the United States as it has about 11.2 million tonnes of production capacity. The US is also a large potash ore consumer.
The global potash ore market in the APAC region will have notable growth during the forecast period for the rising number of projects that are coming in India coupled with efforts undertaken by farmers for the improvement of fertilizers. Besides, rapid urbanization, technological advances, the rising investment being made in end use sectors, growing demand for hygienic food, rising disposable income, and increasing population are also adding to the global potash ore market growth in the region. India, China, and Japan are the key contributors in the region. China as well as India are the largest consumers of potash ores in the world for huge population growth, large arable land, and a major part of employment, depending on agriculture.
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The global potash ore market in Europe will have favorable growth during the forecast period. Potash ore is a widely used fertilizer in agriculture, thus it is in great demand in European countries, namely Switzerland, Germany, France, and the UK, where arable land is available in plenty in comparison to other regions. Besides, growing demand for potash ore in agriculture, chemical, and metallurgical sectors, rising number of food stores, upscale in organic farming, growing innovations in potash ore market, technological advances, rising concern about healthy food, rising disposable income, and growing GDP rate are all adding to the potash ore market growth.
The potash ore market in Latin America is predicted to have noteworthy growth during the forecast period for the growing demand for organic food products in various hotels and restaurants and increasing agriculture industries.
The potash ore market in the MEA will have healthy growth during the forecast period for the growing demand for fertilizers and rising R&D activities of potash ore.
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