The global demand for Potassium Derivatives Market is presumed to reach the valuation of nearly USD XX MN by 2028 from USD XX MN in 2021 with a CAGR of XX% during the period of 2022-2028. Whereas with regards to volume, the market was calculated XX Kilo Tons in 2021 and foreseen to touch XX Kilo Tons by 2028 with a CAGR of XX% during 2022-2028.
Potassium Derivatives are the various compounds of potassium obtained commonly from the electrolysis of potassium chloride, a low-cost raw material with the higher potassium content. The various potassium derivatives used globally are permanganate, sulphate, carbonate, nitrate, bicarbonate, etc. The most important derivative in the industry is the chloride which is used in fertilizers. It is also used in making saline injections and drips to treat potassium deficiency in humans. The other derivatives like potassium carbonate are used in glassmaking, hydroxide in detergents, permanganate to treat fungal infections and the rest in baking, firearms, de-icers etc.
The growth of agricultural activities to meet the food demand of the global population is the main driver for the growth of the potassium derivatives market. Rise in population and increased consumption of plant-based food products is boosting the growth of potassium usage in fertilizers. Potassium is an important mineral needed by humans and is extensively used in the pharmaceutical industry. Use of de-icers in the rapidly expanding air travel sector will boost growth. COVID-19 pandemic will boost the market since these patients exhibited hypokalaemia and a potassium supplement increased the chances of their recovery. The major challenge faced by the market is the growing demand for bio-based fertilizers, hence hampering the extensive use of potassium fertilizers.
The report covers Porter’s Five Forces Model, Market Attractiveness Analysis and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level.
Additionally, these tools also give inclusive assessment of each application/product segment in the global market of potassium derivatives.
The entire potassium derivatives market has been sub-categorized into form, type and applications. The report provides an analysis of these subsets with respect to the geographical segmentation. This research study will keep marketer informed and helps to identify the target demographics for a product or service.
- Potassium Chloride
- Potassium Hydroxide
- Potassium Sulfate
- Potassium Schoenite
This section covers regional segmentation which accentuates on current and future demand for potassium derivatives market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand for individual application segment across all the prominent regions.
Global Potassium Derivatives Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the potassium derivatives market include EvonikIndustries AG, SPOLCHEMIE, The Olin Corporation, Vynova Group, Altair ChimicaSpA, TOAGOSEI, Unid Co Ltd., ERCO Worldwide. This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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