USA and Canada Potassium Sulfate Market

USA and Canada Potassium Sulfate Market Outlook (2022 to 2032)

The USA and Canada potassium sulfate market is estimated to be valued at around US$ 426.2 million in 2022 and it is expected to surpass US$ 564.4 million by 2032. Overall potassium sulfate sales across the USA and Canada are anticipated to rise at a sluggish CAGR of 2.8% during the forecast period from 2022 to 2032.

Rising demand for eco-friendly potash fertilizers from agriculture sector is expected to drive the USA and Canada potassium sulfate market in the forecast period. Potassium sulfate also known as sulfate of potash (SOP) comes from the family of potash fertilizers with others being potassium chloride (Muriate of Potash, MOP), potassium nitrate, and other salts of potassium and magnesium.

Sulfate of potash (SOP) or potassium sulfate is an inorganic compound that has gained immense popularity as an ideal fertilizer due to its ability to provide necessary nutrition to the crops. Unlike other potash fertilizers, sulfate of potash (SOP) has the lowest salt index per unit of K2O, low chloride content, and significant potassium content.

Potassium sulfate is suitable for chloride-sensitive crops and saline soil. It has become an excellent source of potassium (K) nutrition for plants and is utilized for citrus fruits, tobacco, vegetables, water-bearing fruits, and soil replenishment. Apart from the aforementioned crops, it is also used for regular crops such as cereals and pulses.

Addition of potassium sulfate supports plant growth, enhances water preservation, and increases crop yield and disease resistance. Thanks to its low chlorine and high potassium and sodium content, this premium potash fertilizer has become an ideal alternative to potassium chloride and other conventional fertilizers.

Rapid transition toward chlorine-free potash fertilizers and increasing need for improving crop yield are expected to boost the USA and Canada potassium sulfate market during the assessment period.

Potassium sulfate is recommended as a fertilizer in North America due to its exceptional performance and features. It has many advantages, including increased agricultural yield, simplicity of usage in plants, and adequate sulphur and potassium content, among others. Aside from that, the usage of potassium sulpahte reduces the negative effects of chloride buildup in soils, especially in dry conditions.

Owing to these value-added features of potassium sulfate, it is in high demand as fertilizer across the USA and Canada and is anticipated to eventually replace traditional fertilizers during the forecast period (2022 to 2032).

Future Market Insights (FMI) further opines, increasing the usage of potassium sulfate as an insect repellent and alternative blast media for removing coatings from sensitive and composite surfaces will boost sales.

Attribute	Key Insights
USA and Canada Potassium Sulfate Market Estimated Value (2022)	US$ 426.2 million
Projected Market Value (2032)	US$ 564.4 million
Value-based CAGR (2022 to 2032)	2.8%
Collective Value Share: Key players	65%-70%

2017 to 2021 USA and Canada Potassium Sulfate Market Outlook Compared to Demand Forecast from 2022 to 2032

According to the FMI analysis, the market of potassium sulfate witnessed a CAGR of 1.8% during the historical period from 2017 to 2021. The key reason behind this slow growth rate was the slowdown in manufacturing industries and the shortage of raw material supply due to COVID-19 in 2020. However, for the assessment period, the overall USA and Canada potassium sulfate demand is anticipated to surge at 2.8% CAGR.

The market is expected to be driven by the rising application of potassium sulfate as a fertilizer in the agriculture sector. Similarly, growing concerns regarding food insecurity coupled with an increasing focus on improving crop yield are anticipated to generate high demand for potassium sulfate across the USA and Canada during the assessment period. Rising usage of potassium sulfate in water treatment, healthcare, and chemical industries will boost potassium sulfate sales across North America over the projection period.

Comparative Analysis of USA and Canada Potassium Sulfate Markets

USA and Canada Potassium Sulfate Market:

Differentiating Aspects	USA and Canada Potassium Sulfate Market
CAGR in 2022 to 2032	2.8%
Current Valuation in 2022	US$ 426.2 million
Projected Valuation in 2032	US$ 564.4 million
Demand Drivers	Growing demand for less toxic fertilizers is expected to boost the market during the forecast period. Widening application in industries such as healthcare, cosmetics, and chemicals is likely to boost potassium sulfate sales across the USA and Canada over the next ten years.

North America Organic Fertilizers Market:

Differentiating Aspects	North America Organic Fertilizers Market
CAGR in 2022 to 2032	6.9%
Current Valuation in 2022	US$ 1.63 billion (2021)
Projected Valuation in 2032	US$ 3.17 billion (2031)
Demand Drivers	The rising popularity of organic farming across Canada and the USA is a key factor driving the North American organic fertilizers market. Implementation of stringent regulations by regional governments and environmental regulatory bodies is expected to increase the consumption of organic fertilizers across North America during the forecast period.

Phosphate Formate Market:

Differentiating Aspects	Phosphate Formate Market
CAGR in 2022 to 2032	4.2%
Current Valuation in 2022	US$ 716.4 million
Projected Valuation in 2032	US$ 952.3 million (2029)
Demand Drivers	Increasing demand for eco-friendly products for drilling fluid and de-icing applications is providing an impetus to the global phosphate formate market. Enforcement of stringent regulations to encourage carbon emission control across the world is expected to foster phosphate formate sales during the assessment period.

What are the Key Trends Shaping the Potassium Sulfate Industry?

Rising Medical and Industrial Applications to Create New Growth Opportunities for Potassium Sulfate Industry

Potassium sulfate has been used in medical procedures since the 17th century. It is used to treat urinary problems and make people sweat. It also finds application as an osmotic laxative used to cleanse the colon before procedures like colonoscopy.

Potassium sulfate is also added in cosmetics and skin care products as a thickening agent or rheology modifier. Additionally, it is used in a range of industrial processes, such as those that create various chemicals.

It is used to make high-quality inorganic compounds such as potassium alum, potassium persulfate, highly pure potassium sulfate, and potassium water glass in addition to catalyzing specialty plasters, gypsum board, and anhydrite screed.

Besides these, it is used in the production of drawing lubricants, water-based chloride-free drilling fluid additives, and fire extinguisher powder for class B/C fires. Thus, the rising adoption of potassium sulfate for these industrial applications is expected to create significant growth opportunities for the market during the assessment period.

What are the Factors Hampering Growth in the USA and Canada Potassium Sulfate Market?

Higher Manufacturing Costs Likely to Limit Expansion of. Potassium Sulfate Across the USA and Canada

The high price of SOP-based fertilizers & shifting of the manufacturing base to the Eastern continent is likely to impede the market growth. Potassium sulfate-based fertilizers are premium fertilizers finding application in specialized crops. SOP-based fertilizers are specially formulated with an exceptional level of purity. In the process of developing high purity, the cost of production and operation also increases significantly. This results in an increase in the overall price of the final product.

The price of SOP, as compared to MOP or any other conventional fertilizer, is at least twofold or threefold. Thus, the high prices of SOP-based fertilizers in the region may dent growth in the future.

The presence of huge amounts of fluorspar in the Asia Pacific, especially in China, has encouraged numerous companies to move their manufacturing base from North America to the Asia Pacific.

Country-wise Insights

What are the Future Prospects for the USA Potassium Sulfate Market?

Consistent Demand from End Users to Boost Potassium Sulfate Sales in the USA

According to Future Market Insights, the USA potassium sulfate market is set to propel at a moderate CAGR during the forecast period owing to the rising demand for low-toxic fertilizers across the thriving agriculture sector.

Among the nitrogen, phosphate, and potash fertilizers, around one-fourth share is occupied by potash fertilizers in the USA plant nutrition market. Potassium sulfate is extensively used for improving the yield and health of tree nuts, fruits, and vegetables across the USA

Within the USA, the Midwest region currently dominates the market with more than one-third share followed by the south and northeast regions. The presence of multiple suppliers and high areas under agriculture are the key reasons driving demand for potassium sulfate across Midwest and Southern regions.

How will the Canada Potassium Sulfate Market Thrive in the Assessment Period?

Robust Development in Fertilizer Industries and Increase in Potash Fertilizers Export Boosting Market in Canada

Future Market Insights predicts Canada’s potassium sulfate market to exhibit a steady CAGR of around 3.4% between 2022 and 2032, generating significant revenues during the assessment period. Growth in the market is driven by the rapid expansion of fertilizer industries and increasing export of fertilizers such as potash.

Over the years, Canada has emerged as a production hub of various fertilizers. It is considered to be the largest producer and exporter of potash in the world. The country produced around 22.5 million tonnes of potash in 2021 and exported nearly 21.6 million in the same year as per the Government of Canada. This rising production and export of fertilizers will continue to boost the potassium sulfate market across Canada during the forecast period.

In Canada, the Prairie Provinces and the Central Canada Province collectively account for significant consumption of potassium sulfate. Based on product form, granular potassium sulfate is slated to witness a surge in demand, especially from the tree nuts, corn, and wheat producers in Canada. The segment is anticipated to register a CAGR of more than 3.5% over the estimation period.

Category-wise Analysis

Which Form will Remain Highly Sought-After for Potassium Sulfate?

Granular Form of Potassium Sulfate to Dominate Market Through 2032

By product form, granular potassium sulfate currently dominates the market with around three-fourths share, and the trend is expected to continue during the forecast period. This is attributed to the rising usage of granular potassium sulfate as a fertilizer across the agriculture sector.

FMI predicts the granular form segment to create an absolute $ opportunity of more than US$ 100.0 million during the forecast period owing to the rising focus of farmers on improving their crop yield to tackle food insecurity. The powder and liquid segments are also expected to expand at a significant CAGR owing to their rising applications in the cosmetics and chemicals industry.

What is the Cheif Application of Potassium Sulfate?

Tree Nuts to Remain Lead Application Area for Potassium Sulfate in North America

Based on application, potassium sulfate is highly utilized for tree nuts. Crops such as avocado, cashew, peach, almond, etc. require key nutrients like potassium and sulphur for healthy growth. As a result, farmers across countries such as the USA and Canada are extensively using fertilizers such as potassium sulfate.

Growing demand for tree nuts across North American countries due to their high nutritional value is expected to positively influence potassium sulfate sales during the forecast period. The tree nuts segment alone is anticipated to create an absolute $ opportunity close to US$ 50.0 million during the forecast period.

Competitive Landscape

A strong presence of potassium sulfate manufacturers all over the region has benefited their sales owing to the well-established distribution network. Key manufacturers of potassium sulfate are focusing on increasing their production capacities to cater to the growing demand from end-use industries.

Expansion of distribution networks by collaborating with suppliers & traders across the region as well as creating a strong footprint in the domestic markets are expected to augment the demand for potassium sulfate. Companies can expand their market reach by offering attractive margins to distributors, which will expand their reach and increase their customer base. With the high penetration of key players, the resultant competition between them will result in competitive pricing which can benefit the end users, especially fertilizer manufacturers and chemical industries.

Recent Developments:

• In September 2021, Tessenderlo Kerley International, a USA-based producer of specialized chemical solutions, and Van Iperen International, a Dutch supplier of specialized fertilizers, agreed to a long-term distribution agreement of potassium sulfate.
• In December 2021, SOPerior Fertilizer Corp. entered into an agreement with JV to develop its Blawn Mountain Alunite Asset. This Alunite site is expected to yield three important products including potassium sulfate.

 Scope of Report

Attribute	Details
Estimated Market Size (2022)	US$ 426.2 million
Projected Market Size (2032)	US$ 564.4 million
Anticipated Growth Rate (2022 to 2032)	2.8% CAGR
Forecast Period	2022 to 2032
Historical Data Available for	2017 to 2021
Market Analysis	US$ million for Value and Kilo Tons for Volume
Key Countries Covered	USA and Canada
Key Segments Covered	Product Form, Application, and Country
Key Companies Profiled	Compass Minerals International, Inc. DPL-USA NuGenTec Plant-Prod Inc. ProChem, Inc. SAE Manufacturing Specialties Corp SOPerior Fertilizer Corp. Tessenderlo Kerley, Inc. The Mosaic Company Ebrator Biochemicals Inc. Haviland Enterprises, Inc. Interpid Potash, Inc. Jost Chemical Co. Lifeasible Noah Chemicals
Report Coverage	Market Forecast, Company Share Analysis, Competition Intelligence, Drivers, Restraint, Opportunity, and Threats Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives

Potassium Sulfate Industry Segmentation

By Product Form:

• Granular
• Powder
• Liquid

By Application:

• Tree nuts
• Fruits
• Vegetables
• Tobacco
• Others

By Country:

• USA
• Canada

Frequently Asked Questions

Which industry is the key consumer of potassium sulfate?

The primary consumer for potassium sulfate is the agricultural industry.

Who are the key USA and Canada potassium sulfate market players?

Some of the key USA and Canada potassium sulfate market players are K+S Group, SQM, and Mosaic Company.

What is the current market valuation of the USA and Canada potassium sulfate market?

The market is estimated to secure a valuation of US$ 426.2 million in 2023.

How big will the USA and Canada potassium sulfate market be by 2033?

The market is estimated to reach US$ 564.4 million by 2033.

Which end-use industry holds lucrative opportunities in the USA and Canada potassium sulfate market?

The agricultural sector holds high revenue potential in the USA and Canada potassium sulfate market.