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Global Potassium Nitrate Market: By Raw Material: Potassium Chloride, Ammonium Nitrate, Sodium Nitrate; By End Use Industry: Agricultural Industry, General Industries, Pharmaceuticals, Others; Regional Analysis; Historical Market and Forecast (2016-2026); Market Dynamics; Competitive Landscape; Industry Events and Developments
Global Potassium Nitrate Market Outlook
The global potassium nitrate market attained a value of USD 1.56 billion in 2020 and is projected to reach USD 1.9 billion by 2026. The market is estimated to grow at a progressive CAGR of 3.4% during the forecast period of 2021-2026.
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On the basis of raw materials, the potassium chloride segment was estimated to account for the largest market share in 2020. The segment is likely to retain its dominance over the forecast period. Based on end-uses, the agriculture industry represented the dominant segment in 2020. Potassium nitrate is widely used as a fertiliser along with other applications like its use in the production of gun powder, fireworks, medicines, etc. Nitrogen is a nutrient essential for all living organisms. When used as a fertiliser, potassium nitrate becomes a source of nitrogen and potassium. An increased population demands more crop production, which can be ensured with the use of a good fertiliser. It was estimated the world’s fertiliser consumption increased by approximately 1.8% a year through 2018. Thus, the growing fertiliser industry is acting as a catalyst for the global potassium nitrate market growth.
Regionally, the Asia Pacific represents the leading potassium nitrate market, accounting for the majority of the global share. Asia, the largest consumer of fertilisers in the world, relies on imports of all three primary nutrients. For instance, in India, the raw materials and intermediates are largely imported to produce nitrogenous and phosphatic fertilisers to meet domestic requirements. Due to the non-availability of any potash (K) reserve in the country, its entire requirement is fulfilled through imports. Globally, the largest exporter of fertilisers is Russia, accounting for about a fifth of the total fertiliser trade, along with other significant contributors like Canada, China, Belarus, and the United States. On the other hand, the world’s largest importer of fertilisers is the United States, followed by countries like Brazil, India, and China. These regions are majorly contributing to the growth of the potassium nitrate market.
Properties and Applications
Potassium nitrate (KNO3) is a crystalline salt that exhibits a colour of white to grey. It is also known as saltpetre or nitre. The salt is naturally found in the pure form and can also be prepared commercially by mixing sodium nitrate and potassium chloride. Potassium nitrate is a strong oxidizing agent that assists in accelerating the burning of combustible substances. Due to this, it is widely used as a constituent in fireworks, rocket propellants, gunpowder, and medicines. Apart from this, potassium nitrate finds immense applications
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The potassium nitrate market can be majorly segmented on the basis of its raw material segments into:
- Potassium Chloride
- Ammonium Nitrate
- Sodium Nitrate
The potassium nitrate market can be broadly categorised on the basis of its end-use segments into:
- Agricultural Industry
- General Industries
- Pharmaceuticals
- Food Industry
- Others
The EMR report looks into the regional markets in the global potassium nitrate market like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Market Analysis
Potassium nitrate is extensively used in the food industry to preserve food items such as beef, ham, salami, and among others, and in the agriculture sector to produce the fertilizers. Moreover, governments of developing countries are offering subsidies for the sales of fertilisers, resulting in the increased consumption of potassium nitrate. In addition to this, it is resistant to fungal diseases, improves drought tolerance, and maintains a balance between proteins and carbohydrates, and increase food formation in plants and root growth. Growing demand for speciality fertilisers has witnessed a surge in the agriculture segment, which in turn is stimulating the market growth. Furthermore, increasing concerns regarding the depletion of exhaustible resources have also led many organizations to resort to sustainable resources like CSPs, hence, is propelling the potassium nitrate market growth.
Drilling and blasting are essential practices in the mining process and are commonly used to break up benches of rock containing ore. For instance, in the coal mining industry, high-quality explosives such as potassium nitrate are used to extract coal from ground mines. With the surging need for blasting and drilling chemicals in the coal mining industry, the demand for potassium nitrate is expected to increase over the years to come.
Competitive Landscape
The report gives a detailed analysis of the following key players in the global market for potassium nitrate, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Haifa Chemicals Ltd
- Migao Corporation
- SQM S.A.
- Uralchem JSC
- Yara North America, Inc.
- Others
The comprehensive EMR report provides an in-depth assessment of the industry based on the Porter's five forces model along with giving a SWOT analysis.
*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global Potassium Nitrate Market Analysis
8.1 Key Industry Highlights
8.2 Global Potassium Nitrate Historical Market (2016-2020)
8.3 Global Potassium Nitrate Market Forecast (2021-2026)
8.4 Global Potassium Nitrate Market by Raw Material
8.4.1 Potassium Chloride
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2016-2020)
8.4.1.3 Forecast Trend (2021-2026)
8.4.2 Ammonium Nitrate
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2016-2020)
8.4.2.3 Forecast Trend (2021-2026)
8.4.3 Sodium Nitrate
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2016-2020)
8.4.3.3 Forecast Trend (2021-2026)
8.5 Global Potassium Nitrate Market by End Use Industry
8.5.1 Agricultural Industry
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2016-2020)
8.5.1.3 Forecast Trend (2021-2026)
8.5.2 General Industries
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2016-2020)
8.5.2.3 Forecast Trend (2021-2026)
8.5.3 Pharmaceuticals
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2016-2020)
8.5.3.3 Forecast Trend (2021-2026)
8.5.4 Food Industry
8.5.4.1 Market Share
8.5.4.2 Historical Trend (2016-2020)
8.5.4.3 Forecast Trend (2021-2026)
8.5.5 Others
8.6 Global Potassium Nitrate Market by Region
8.6.1 Market Share
8.6.1.1 North America
8.6.1.2 Europe
8.6.1.3 Asia Pacific
8.6.1.4 Latin America
8.6.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2016-2020)
9.1.2 Forecast Trend (2021-2026)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2016-2020)
9.2.2 Forecast Trend (2021-2026)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Others
9.3 Asia Pacific
9.3.1 Historical Market (2016-2020)
9.3.2 Market Forecast (2021-2026)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 ASEAN
9.3.3.5 Australia
9.3.3.6 Others
9.4 Latin America
9.4.1 Historical Trend (2016-2020)
9.4.2 Forecast Trend (2021-2026)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2016-2020)
9.5.2 Forecast Trend (2021-2026)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Nigeria
9.5.3.4 South Africa
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyers Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 EMR’s Key Indicators for Demand
10.4 EMR’s Key Indicators for Price
11 Value Chain Analysis
12 Trade Data Analysis (HS Code - 283421)
12.1 Major Importing Countries
12.1.1 By Volume
12.1.2 By Value
12.2 Major Exporting Countries
12.2.1 By Volume
12.2.2 By Value
13 Price Analysis
13.1 North America Historical Price Trends (2016-2020) and Forecast (2021-2026)
13.2 Europe Historical Price Trends (2016-2020) and Forecast (2021-2026)
13.3 Asia Pacific Historical Price Trends (2016-2020) and Forecast (2021-2026)
13.4 Latin America Historical Price Trends (2016-2020) and Forecast (2021-2026)
13.5 Middle East and Africa Historical Price Trends (2016-2020) and Forecast (2021-2026)
14 Manufacturing Process
14.1 Detailed Process Flow
14.2 Operations Involved
14.3 Mass Balance
15 Competitive Landscape
15.1 Market Structure
15.2 Key Players’ Market Share
15.3 Company Profiles
15.3.1 Haifa Chemicals Ltd
15.3.1.1 Company Overview
15.3.1.2 Product Portfolio
15.3.1.3 Demographic Reach and Achievements
15.3.1.4 Financial Summary
15.3.1.5 Certifications
15.3.2 Migao Corporation
15.3.2.1 Company Overview
15.3.2.2 Product Portfolio
15.3.2.3 Demographic Reach and Achievements
15.3.2.4 Financial Summary
15.3.2.5 Certifications
15.3.3 SQM S.A.
15.3.3.1 Company Overview
15.3.3.2 Product Portfolio
15.3.3.3 Demographic Reach and Achievements
15.3.3.4 Financial Summary
15.3.3.5 Certifications
15.3.4 Uralchem JSC
15.3.4.1 Company Overview
15.3.4.2 Product Portfolio
15.3.4.3 Demographic Reach and Achievements
15.3.4.4 Financial Summary
15.3.4.5 Certifications
15.3.5 Yara North America, Inc.
15.3.5.1 Company Overview
15.3.5.2 Product Portfolio
15.3.5.3 Demographic Reach and Achievements
15.3.5.4 Financial Summary
15.3.5.5 Certifications
15.3.6 Others
16 Industry Events and Developments
List of Figures and Tables
1. Global Potassium Nitrate Market: Key Industry Highlights, 2016 and 2026
2. Global Potassium Nitrate Historical Market: Breakup by Raw Material (USD Billion), 2016-2020
3. Global Potassium Nitrate Market Forecast: Breakup by Raw Material (USD Billion), 2021-2026
4. Global Potassium Nitrate Historical Market: Breakup by End Use (USD Billion), 2016-2020
5. Global Potassium Nitrate Market Forecast: Breakup by End Use (USD Billion), 2021-2026
6. Global Potassium Nitrate Historical Market: Breakup by Region (USD Billion), 2016-2020
7. Global Potassium Nitrate Market Forecast: Breakup by Region (USD Billion), 2021-2026
8. North America Potassium Nitrate Historical Market: Breakup by Country (USD Billion), 2016-2020
9. North America Potassium Nitrate Market Forecast: Breakup by Country (USD Billion), 2021-2026
10. Europe Potassium Nitrate Historical Market: Breakup by Country (USD Billion), 2016-2020
11. Europe Potassium Nitrate Market Forecast: Breakup by Country (USD Billion), 2021-2026
12. Asia Pacific Potassium Nitrate Historical Market: Breakup by Country (USD Billion), 2016-2020
13. Asia Pacific Potassium Nitrate Market Forecast: Breakup by Country (USD Billion), 2021-2026
14. Latin America Potassium Nitrate Historical Market: Breakup by Country (USD Billion), 2016-2020
15. Latin America Potassium Nitrate Market Forecast: Breakup by Country (USD Billion), 2021-2026
16. Middle East and Africa Potassium Nitrate Historical Market: Breakup by Country (USD Billion), 2016-2020
17. Middle East and Africa Potassium Nitrate Forecast: Breakup by Country (USD Billion), 2021-2026
18. Major Importing Countries by Volume (2020)
19. Major Exporting Countries by Volume (2020)
20. Major Importing Countries by Value Million USD (2020)
21. Major Exporting Countries by Value Million USD (2020)
22. North America Historical Price Trends and Forecast 2016-2026
23. Europe Historical Price Trends and Forecast 2016-2026
24. Asia Pacific Historical Price Trends and Forecast 2016-2026
25. Latin America Historical Price Trends and Forecast 2016-2026
26. Middle East and Africa Historical Price Trends and Forecast 2016-2026
27. Global Potassium Nitrate Market Structure
Key Questions Answered in the Report
The global potassium nitrate market reached a value of USD 1.56 billion in 2020.
The market is projected to grow at a CAGR of nearly 3.4% in the forecast period of 2021-2026.
The market is estimated to reach a value of about USD 1.9 billion by 2026.
The major drivers of the industry include rising disposable incomes, increasing population, rising food industry, growing demand for speciality fertilisers, and the increasing demand for blasting and drilling chemicals in the coal mining industry.
The rising concerns regarding the depletion of exhaustible resources have led many organisations to resort to sustainable resources like CSPs. This is expected to be a key trend guiding the growth of the industry.
North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa are the leading regions in the market, with the Asia Pacific accounting for the largest market share.
Potassium chloride is the dominant type of the raw material in the market.
The agriculture industry accounts for the largest market share, among other end-use segments in the industry.
The leading players in the market are Haifa Chemicals Ltd, Migao Corporation, SQM S.A., Uralchem JSC, and Yara North America, Inc., among others.
Analyst Review
The global potassium nitrate market attained a value of USD 1.56 billion in 2020, driven by the growth in the food industry. Aided by the rising demand for specialty fertilisers, the industry is expected to witness a further growth in the forecast period of 2021-2026, growing at a CAGR of 3.4%. The industry is projected to reach USD 1.9 billion by 2026.
EMR’s meticulous research methodology delves deep into the industry, covering the macro and micro aspects of the industry. Based on its raw materials, the global potassium nitrate market can be segmented into potassium chloride, ammonium nitrate, and sodium nitrate, with potassium chloride accounting for the largest market share. On the basis of end-use, the agriculture sector accounts for the largest share in the industry. The major regional markets for potassium nitrate are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa, with Asia Pacific accounting for the largest share of the market. The key players in the above industry include Haifa Chemicals Ltd, Migao Corporation, SQM S.A., Uralchem JSC, and Yara North America, Inc., among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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