The global Potassium Fertilizer market is expected to register a CAGR of 4.8% during the forecast period (2021-2026). The impact of the COVID-19 pandemic on the Potassium Fertilizer market was minimal, mainly due to transportation barriers. There was no impact from the coronavirus outbreak as the government exempted the lockdown restrictions for all types of agricultural activities. In fact, agrochemical companies have posted double-digit returns compared to last year due to panic buying behavior by farmers. Worldwide reserves of potassium are estimated at around 210 billion metric tons of potassium oxide, of which 16 billion metric tons can be recovered using existing technologies. Of the 16 billion metric tons, Canada holds 10 billion metric tons of deposits, most of them in Saskatchewan. Russia and Belarus hold 2.2 billion tonnes and 1 billion tonnes respectively, and these three countries dominate the global potassium supply, directly controlling the price of potassium fertilizer. Potassium is a key nutrient that plants need in high doses. This element controls the opening and closing of the pores and thus the absorption of carbon dioxide. Potassium is also important for enzyme activation and other functions such as ATP (Adenosine Triphosphate) production.
A full report of Potash Fertilizers Market available at https://www.orionmarketreports.com/potash-fertilizers-market/55003/
Potash Fertilizers Market: Segmentation
By Type
• Muriate of Potash
• Sulfate of Potash
• Other Types
By Application
• Grains & Cereals
• Pulses & Oilseeds
• Commercial Crops
• Fruits & Vegetables
• Other Applications
Major Players
• Uralkali PJSC
• Nutrien Limited
• The Mosaic Company
• K+S Group
• ICL Group
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
