Potassium Sulphate Market to Grow with a CAGR of 3.43% through 2028
Growing demand
of potassium sulphate in personal care industry is expected to drive the Global
Potassium Sulphate Market growth in the forecast period, 2024-2028.
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.
Browse over XX
market data Figures spread through XX Pages and an in-depth TOC on "Global Potassium
Sulphate Market”
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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