A recent report published by Infinium Global Research on potassium chloride market provides in-depth analysis of segments and sub-segments in the global as well as regional potassium chloride market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional potassium chloride market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global potassium chloride market. According to the report, the global potassium chloride market was sized USD 27.7 billion in 2019 and is projected to grow at a CAGR of 5.3% over the forecast period of 2020-2026.

Market Insight

Potassium chloride is a colorless crystalline organic compound. Potassium chloride is widely used as fertilizer in the agricultural industry. Other applications of potassium chloride include pharmaceuticals, industrial applications, and food processing. In pharmaceuticals, it is mainly used in the treatment of hypokalemia and as an electrolyte replenishing agent. The use of potassium chloride in the fertilizer is high due to the increasing demand for food grains from developing economies such as Brazil and India. The growing demand for fertilizers in the agriculture industry is one of the factors driving the demand for potassium chloride.

The demand for potassium chloride is rising from various application segments such as fertilizer, industrial applications, pharmaceuticals, and animal feed. Potassium is one of the vital elements for the growth of food crops and in the agriculture industry it is generally used as potash fertilizers. The increased consumption of food grains due to the rise in population and growth of the agricultural sector are attributing to the high demand for potassium chloride in the market. The advancements in the agriculture and fracking industries are driving the use of potassium chloride. Both industries require large amounts of potassium chloride for various purposes. Moreover, it is increasingly used as a food enricher in animal feed and as a substitute for sodium in foods. Furthermore, the increasing use of potassium chloride in wastewater treatment owing to increasing environmental concerns is expected to drive the growth of the market during the forecast period. However, potassium chloride is harmful to the body if ingested in considerable amounts, which results in irregular heart functioning, convulsions, stomach pain, mental impairments, dizziness, and diarrhea. This is hampering the growth of the market.

In terms of geographies, the potassium chloride market is segmented into North America, Europe, Asia Pacific, and RoW. The Asia Pacific dominates the global potassium chloride market. Owing to the rise in the population and the growth in the per capita income of individuals, the consumption of food products in this region has increased. Moreover, the Asia Pacific region is expected to exhibit the fastest growth rate during the forecast period. Furthermore, North America accounted for the second-largest market share of the global potassium chloride market in 2019 due to the presence of a large number of Oil & Gas industries. Potassium chloride is used in the fracking process of oil and gas reserves.

Segment Covered

The report on global potassium chloride market covers segments such as application. On the basis of application, the sub-markets include fertilizers, pharmaceuticals, industrial, and other applications.

Companies Profiled:

The report provides profiles of the companies in the market such as Arab Potash Company (APC), Nutrien Ltd., Sinofert Holdings Ltd., Uralkali JSC, The Mosaic Company, ICL Group Ltd., Yara International ASA, Sociedad Quimica y Minera de Chile SA, Intrepid Potash Inc., and Belaruskali JSC.

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the potassium chloride market. Moreover, the study highlights current market trends and provides forecast from 2020-2026. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.