Increasing demand for potassium chloride in online retails, especially in the emerging nations coupled with high investments in R&D of potassium chloride, are fueling the market growth.
Market Size – USD 16.98 Billion in 2018, Market Growth – CAGR of 4.9%, Market Trends – Increase in demand for Potassium Chloride as in fertilizer industries.
The Global Potassium Chloride Market is forecast to reach USD 25.01 Billion by 2027, according to a new report by Reports and Data. Potassium Chloride (KCL) or potassium salt is the metal halide composition of potassium and chloride chemical compounds. KCL is one of the most important sources of potassium chemical elements. The crystalline powder is white, odorless & highly soluble in water and sourced from seawater or other salt-containing surface water. Potassium is a crucial mineral for the human body and principal base in the tissue of blood cells, as it helps to lower the adverse effects of salts and maintains the blood pressure. Chlorine provides electrochemical neutrality in the red blood cells.
Potassium chloride has wide-ranging applications as fertilizers across agriculture, deicing, and water treatment industries. The potassium chloride is an important source of potassium for plants and animals. The demand for food is increasing due to the rise in population, which is boosting demand for fertilizers. This demand is predicted to drive the growth of the global potassium chloride market.
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Some of the players profiled in the report are Sinofert Holdings Limited, Agrium, The Potash Corporation, Uralkali, The Mosaic Company, ICL Specialty Fertilizers, The Arab Potash Company, CF Industries Holdings, Inc., Intrepid Potash, Inc., and Belaruskali, among others.
The global potassium chloride market is projected to see steady growth in the forecast duration. This growth is attributable to increased demand for fertilizers in order to enhance the yield globally. The growing demand for potassium chloride from the agricultural sector across the globe is boosting the growth of the market and is expected to remain the same over the forecast period.
The demand from pharmaceutical industries has increased in the last decade, owing to its adoption as potassium tablets, sports nutrition, dietary salts, and mineral drinks. Additionally, the food and beverages industry is adopting potassium chloride as a key source of potassium and as an ingredient added to food products. All these factors are propelling the growth of the global potassium chloride market.
Further key findings from the report suggest
- Potassium Chloride naturally preserves the personal care products and cosmetics by chelating bonds. The mixture of citric acid & its salts are also added to the personal care products in order to help adjust the acid to base ratio.
- Growing penetration of the online retailing businesses for the chemicals and materials, especially in the emerging nations in the Asia Pacific, is helping the market grow by broadening the outreach in the areas where the services of the offline vendors are unavailable. Also, due to the non-involvement of distributors in the supply chain model, the profit margin is way more than that of the offline retailing. The online retailing is expected to gain a market share of 33.9% by 2027.
- Potassium chloride is used to treat hyperkalemia and disorders pertaining to the kidney, adrenal glands, and others. For some open-heart surgeries, KCL is injected into the heart muscles in order to stop the heartbeat as the procedure cannot proceed with the heart rhythmic contraction and expansion processes.
- In January 2018, two major giants of the fertilizers industry in Canada namely, Agrium and Potash Corporation in Saskatchewan, merged into one company, named, Nutrien Ltd. Nutrien Ltd. was headquartered in Saskatchewan, Canada. The joint venture of these two giants have, in turn, made them the biggest fertilizer producer in the world.
- European region is forecasted to witness significant growth in the overall market, with 15.6% of market possession by 2027, having grown with a CAGR of 3.4% during the forecast period. Germany and the Netherlands hold some of the most prominent players in this region.
- North America, with its high demand for potassium chloride in agricultural & healthcare industries, is accounted to retain a significant position in the global market by 2027, growing with a CAGR of 5.3% throughout the forecast period.
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Distribution Channel Outlook (Revenue, USD Billion; 2016-2027)
- Online Retailing
- Offline Retailing
Form Outlook (Revenue, USD Billion; 2016-2027)
End-Use Verticals Outlook (Revenue, USD Billion; 2016-2027)
- Fertilizers Industry
- Medical & Pharmaceutical
- Industrial Applications
Regionally, Asia Pacific is predicted to dominate the global potassium chloride market and to hold a leading share of revenue over the forecast period. This growth is attributable to flourishing agriculture industries across India and China. The Global Potassium Chloride Market is forecast to reach USD 25.01 Billion by 2027, growing at a CAGR of 4.9% through the forecast period, according to a new report by Reports and Data.
Market Segmentation by Regions:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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The Global Potassium Chloride Market includes relevant and verified information relating to the overall market, key players, and their market position and financial standing. The report utilizes advanced analytical tools such as SWOT analysis, Porter’s Five Forces Analysis, investment return analysis, and feasibility analysis to offer a comprehensive view of the market position of the major players of the industry.
Global Potassium Chloride Market: Table of Contents
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2018-2027
Chapter 3. Indicative Metrics
Chapter 4. Potassium Chloride Market Segmentation & Impact Analysis
4.1. Potassium Chloride Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
22.214.171.124. Extensive rise in the fertilizers industry, especially in the emerging countries
126.96.36.199. High implementation in the healthcare & pharmaceutical applications due to the increase in hyperkalemia disease
188.8.131.52. High growth in food consumption in the populous nations
4.2.3. Market restraints analysis
184.108.40.206. Raw materials processing difficulties and manufacturing obstacles
220.127.116.11. Side effects of potassium chloride
4.3. Technological Insights
4.4. Regulatory Framework
4.5. ETOP Analysis
4.6. Porter’s Five Forces Analysis
4.7. Competitive Metric Space Analysis
4.8. Price trend Analysis
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