The report of Potash Ore Market by Product Type (Potassium Chloride, Sodium Chloride, Others), Application (Agriculture, Chemical, Metallurgical, Others), and Region (North America, Asia Pacific, Europe, South America, and Middle East & Africa) is expected to reach around US$ XX Mn by 2027, at a CAGR of XX% during the forecast period.
Global potash ores market size is expected to increase during the forecast period (2019-2027), thanks to the demand for potassium from several industries around the world. Because of the demand for organic food and the growing population around the world, the fertilizer industry is expected to support the growth of the market in the future. Potash is an important nutrient for crops, which improves the yield and quality. Hence, this is expected to drive the market growth. Sodium chloride has witnessed increasing demand from the chemical industry for the production of caustic soda, sodium chloride, etc. Moreover, it is also used for the product in fish preservation.
On the other hand, increasing health concerns about the consumption of potash fertilizers are expected to restrain the global potash ores market growth. Also, fluctuating prices of potassium chloride are expected to hinder the market growth during the forecast period.
By product type, the potassium chloride segment is expected to dominate the market owing to its use in the production of fertilizers. Huge demand for food and the cultivation of fruits and plants can fuel the segment growth till 2023. On the other hand, sodium chloride is set to expand at a rapid pace due to its use in the making of chemicals such as sodium chlorite, caustic soda, and others.
Region-wise, North America is expected to hold the largest market share of the global market by 2027, thanks to the utilization of potash ore in agriculture, metallurgy, and chemical sectors. The demand for organic food and in other end-use industries can act as a catalyst for the market in the region. Canada, the U.S., and Mexico are the main contributors to the region.
APAC can grow at a rapid pace, because of the rising investments by end-use industries in the region. An increase in disposable income levels, demand for organic food, and a large population are factors driving the regional market growth.
Key players operating in the Potash Ore market are Agrium Inc., BHP Billiton Ltd., Elementals Minerals Limited, Encanto Potash Corp., EuroChem, Intrepid Potash, K+S GmbH, Mining Associates, PotashCorp, Uralkali, Nutrien Ltd., JSC Belaruskali, ICL, Kore Potash Limited, Others.
Maximize Market Research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about the Global Potash Ore Market. The report encompasses the market by different segments and region, providing an in-depth analysis of the overall industry ecosystem, useful for making an informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the Global Potash Ore Market. The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain Global Potash Ore Market positioning of competitors.
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