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.