Bio-Based Agrichemicals bolster the Global Potassium Derivatives Market

Published on : Dec 09, 2019

Potassium derivatives are used across various industries including agricultural, consumer goods and pharmaceutical industry. Muriate of potash popularly known as potassium chloride is one of the commonly used potassium derivatives and is used in fertilizers. It enhances crop’s quality along with the yield. Population expansion has increased the demand of fertilizers to increase the agricultural yield in order to suffice the growing demand. This demand growth boosts the global potassium derivatives market.

The global potassium derivatives market was estimated to be around US$12Bn in the year 2018. It is expected to grow at   ?4% during the forecast period 2019-2027.

An intelligence report titled, “Potassium Derivatives Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027” is the source of all the stated insights. This report is the latest addition to Market Research Hub’s ever growing repository

Asia pacific leads in Nitrogen consumption

Potassium derivatives are used as ingredient in cleansing agents for different places such as wineries. They are used inside tanks to clean the bio films of bacteria, which raises demand for potassium derivatives feedstock such as potassium hydroxide. Bio-based agrichemicals are also gaining momentum and are anticipated to occupy the space of synthetic agro-chemicals in the coming years. Surge in demand of these bio-based chemicals positively influence the global potassium derivatives market.

Asia Pacific is known to be a prominent region in the global market with China being prominent in fertilizer’s consumption. Asia Pacific was assessed to consume 60% of the total nitrogen in the year 2018. Europe exhibited highest demand for nitrogen fertilizers. Germany utilizes potassium sulfate in its fertilizers for its positive effect on chloride-sensitive crops and water-scarce regions. The growth in consumption of potassium sulfate in fertilizers in Germany drives the global potassium derivatives market.

Major stake holders profiled in global potassium derivatives market include Israel Chemicals, K+S Group, Nutrein, JSC Chemicals, Occidental Chemical Corporation, Erco Worldwide INC and Superior Plus Corp.

Global potassium derivatives market: Report Synopsis

Quantitative and qualitative assessment exhort intelligence and overarching report on the Global potassium derivatives market. Further, the report thoroughly delineates various aspects of the market that will potentially have considerable influence on the development of the Global potassium derivatives market. As such, those aspects incorporate drivers, trends, restraints, and opportunities. Furthermore, the report elucidates segregation of the market that provides an exhaustive analysis on potassium derivatives.

An insightful and deep-dive assessment of the competitive assessment of the Global potassium derivatives market pins hope on Porters’ Five Force Analysis. Accordingly, the Porters’ Five Force Analysis offers a pressing analysis on the potential strategies of the preeminent players in the Global potassium derivatives market. In addition, the business strategies counts on company overview, product portfolio, SWOT analysis, key differentiation and recent development.

Global potassium derivatives market: Research Methodology

Primary sources and secondary sources propel intelligence report on Global potassium derivatives market that provide deep dive analysis on the market. As such, the report provides reliable and unbiased projections, and assessments which have palpable impact on the market size and historical data. Besides, the report also counts on primary sources which hinges upon in-depth and intelligent analysis from well-grounded and reliable experts, telephonic interview, and a thorough assessment from surveys and seasoned analyst.

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