The global potash ores market is valued at US$ 1.48 billion as on 2022. The market is expected to grow at a CAGR of 3.5% during the forecast period, and is projected to reach a valuation of US$ 2.09 billion by 2032.
Attributes
Value
Potash Ores Market Value (2022)
US$ 1.48 billion
Potash Ores Market Forecast Value (2032)
US$ 2.09 billion
Potash Ores Market Expected CAGR (2022 to 2032)
3.5%
Potash ores are raw materials which are used for manufacturing potash, fertilizers and other chemicals. It usually consists of sodium chloride (halite), potassium chloride (sylvite), silicate, anhydrite and carbonate. Potash ores are processed by hot leaching with crystallization of salts of potash from unsaturated salt brines.
Some of the commonly used ore processing methods include chemical methods such as hot leaching and mechanical methods such as floatation. The floatation processing method is dependent upon the capacities of sylvite and halite surface which is to be moistened with water by the addition of acting chemicals such as surfactants.
The method of hot leaching is dependent upon the physiochemical properties of potassium chloride, sodium chloride and water. The main principle in this method is the temperature difference between sylvite and halite.
This method is implemented for manufacturing potassium chloride in granular and white crystalline form, which can be painted reddish pink.
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Market Dynamics
Market Drivers:
Potash ores are primarily used in the fertilizer industries, and a surging fertilizer sector represents a lot of scope for the potash ores market, and reflects potash fertilizer uses.
Apart from that, rising vegan population across the globe, coupled with an increased demand for organic food is expected to drive the demand for potash ores during the forecast period, which also displays potash use.
Furthermore, the ground water levels leading to alarmingly lower levels would mean that dependence on waste water, which can be consumed after processing. The potash ores are used in significant quantities during waste water treatment. This might surge the sales of potash ores during the forecast period.
Opportunities:
Potash ores are used for manufacturing ceramics and detergents, as a result of which soaps and detergents markets have started investing in potash ores, which is expected to surge the adoption of potash ores during the forecast period.
Apart from that, there has been an increase in the demand for animal feed at a global level. The huge animal feed market represents a massive opportunity for the potash ores market during the forecast period.
Moreover, potash is also used in the glass industry. When the molten form is made harder, it is believed to be very robust. In order to enhance the robustness, the glass manufacturers are making use of stabilizers along with potash ores which makes the glass water resistant as well.
Introduction of bio-fertilizers, which are known to have almost no negative impact on human health, also shows that the market has a lot of prospects.
Market Restraints:
The consumption of potash may have some serious side effects on human health, and this may well weaken the potash ores adoption trends.
Apart from that, massive disruption in the supply chain management owing to Covid-19 pandemic followed by Russia-Ukraine war is expected to have a negative impact on the market of potash ores going ahead.
It has also been found that the operation of potash mining industry also causes pollution. The pollution is spread across land, water and air, which can be quite dangerous, as the process leads to emission of carbon dioxide, carbon monoxide, etc.
Segmentation Analysis
Based on the regional analysis, the Asia-Pacific market is expected to be the largest during the forecast period. An enormous animal feed market, coupled with huge population in the region is expected to be the major reason why Asia-Pacific could be the largest market.
On the basis of end use industry, the agriculture segment currently holds the highest market share. A huge demand for potassium chloride is driving the application of potash ores in the agricultural sector.
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Global Potash Ores Market: Drivers and Restraints
Global demand for potash ores is expected to rise significantly with the growth of the fertilizer industry over the next few years. In addition, rising consumption of organic food is expected to drive the demand for potash fertilizers, thereby boosting the potash ore market over the next few years.
North America and Europe are the largest consumers of organic foods. Significant growth is expected in the Asia-Pacific region over the next few years on account of rising disposable incomes of consumers and an inclining trend towards healthy food.
However, rising health concern from the consumption of potash fertilizers as well as fluctuating prices of potassium chloride is expected to slow down the growth of the market. Demand for food and animal feed has been on the rise since 2000 with growing disposable incomes in developing economies being a major factor in the growing potash and fertilizer use.
However, after years of showing an upward growth trajectory, fertilizer use experienced a significant decline in 2008. The global economic downturn has been the primary cause for decreased potash use as well as the declining prices, which caused instability in crop and raw material prices and fuelled uncertainty in the farming community.
Increasing use of potash as potash mobilizing biofertlizers is expected to provide new opportunities for the growth of the market.
Global Potash Ores Market: Regional Outlook
Growth of the fertilizer industry has been one of the major factors driving the demand for potash ores. The global outlook for the fertilizer industry shows a positive growth, resulting from a progressive demand for phosphate and potassium demand in Asia Pacific.
Although agricultural prices have been under pressure, they are anticipated to remain attractive stimulating fertilizer applications leading to the growth of the industry. Demand for potash ores is expected to witness a noticeable increase in every region except North America, due to the expected drop in crop prices and residual effect of nutrient applications leading to a decline in consumption.
Future market growth is expected to be significant from emerging regions such as Asia Pacific as a result of improvements in fertilizer practices by Indian farmers. As per The International Fertilizer Industry Association, more than 25 potash expansion projects have been intended by manufacturers between from 2013 to 2017.
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Global Potash Ores Market: Market Players
Elementals Minerals Limited, Agrium Inc., PotashCorp, JSC Belaruskali, Uralkali, K+S GmbH, and Israel Chemicals Ltd. are some of the key players present in the potash ore market.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies.
The research report provides analysis and information according to categories such as market segments, geographies, types and applications. The report covers exhaustive analysis on:
Market Segments
Market Dynamics
Market Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies involved
Value Chain
Regional analysis includes
North America
Latin America
Asia Pacific
Japan
Western Europe
Eastern Europe
Middle East & Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts, and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macroeconomic indicators and governing factors, along with market attractiveness within the segments. The report also maps the qualitative impact of various market factors on market segments and various geographies.
Global Potash Ores Market: Segmentation
Global potash ore is segmented into type of mineral extracted and End-Use Industry
On the basis of mineral extracted, the global potash ore market is segmented as below:
Potassium Chloride
Sodium Chloride
Others
On the basis of End-Use Industry, the global potash ore market is segmented as below:
