Pune, India -- (SBWIRE) -- 03/14/2018 -- Global Sulfate of Potash Market is expected to reach 10,535.84 thousand tons by 2025 from 7,000.00 thousand tons in 2017, at a CAGR of 5.5% in the forecast period 2017 to 2024. The new market report contains data for historic years 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.
Global Sulfate of Potash Market By Grade Type (standard SOP, Granular SOP, Soluble SOP), By end user (Agricultural, Industrial), By Geography (North America, South America, Europe, Asia-Pacific, Middle East & Africa)- Industry Trends and Forecast to 2025
The major factors contributing to the growth of the market includes factors such as rising global population and income growth in key emerging markets,reduction in arable land and chase for higher yields. On the other hand, increase in the trend of organic food consumption may hinder the growth of the market.
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This report consists of below pages:
No of pages : 350 No of Figures: 60 No of Tables: 220
K+S KALI GmbH is going to dominate the global Sulfate of Potash market following with Tessenderlo Group, Compass Minerals, SQM and Migao Group others among others.
- The global Granular SOP market is expected to reach 7,214.40 thousand tonnes by 2025, from 4,768.21 thousand tonnes in 2017, growing at a CAGR of 5.6%.
- The Agricultureis expected to dominate the Sulfate of Potash market with 89.0% market share, growing at a CAGR 5.7% in the forecast period 2018 to 2025.
Major Players: Global Sulfate of Potash Market
Some of the Major Players Operating in this Market are:-
- Tessenderlo Group,
- Haifa Chemicals ltd.,
- Compass Minerals,
- K+S KALI GmbH,
- MIGAO GROUP,
- Ameropa Australia Pvt Ltd,
- Archean Group,
- China Ching Shiang Chemical Corporation,
- Helm AG,
- Merck KGaA among others.
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The major factors contributing to the growth of the market includes factors such as are rising global population and income growth in key emerging markets, Reduction In Arable Land And Chase For Higher Yields, Increase In Need Of Turf & Ornamental Land.
RISING GLOBAL POPULATION AND INCOME GROWTH IN KEY EMERGING MARKETS
According to WHO the global population had reached to 7.6 billion by end of 2017. With the rise in population the need for more agricultural and industrial product increases. Furthermore, according to Food and Agriculture Organization of the United Nations (FAO), the world economy has broadly strengthened over the past three years and is expected to continue this strengthening during 2014-2015. The global grain supply-demand balance in the 2014-2015 marketing season had improved. The world cereal production in 2014 was estimated to reach 2 498 000 000 tonnes. World demand for total fertilizer nutrients is been estimated to grow at 1.8 percent per annum from 2014 to 2018. The demand for nitrogen, phosphate, and potash fertilizer is forecast to grow annually by 1.4, 2.2, and 2.6 percent, respectively, during the forecasted period. The global potential balance of potassium was expected to rise significantly from 8 700 000 tonnes in 2014 to 12 700 000 tonnes in 2018, Africa region is likely to remain a major exporter of phosphate, followed by nitrogen. But North America continues to be solely importer of potash.
According to above mentioned statistics the need for Potash based fertilizers is increasing. SOP (Sulfate of Potash) is a chloride free chemical and vital for high value crops. The agricultural pollution, water scarcity and technology advances technology are causing changes in production practices of various groups such as different method of irrigations like sprinkle irrigation method are used for growing of crops. With the change in lifestyle more demand for sensitive crop is growing. According to Agrimin company approximately 50 kilotons per annum SOP is imported and used in Australia itself. Markets such as of potatoes and grapes are major drivers for SOP. According to compass mineral industries North America is highest producer of Potash globally is making the market of SOP grow in the future.
INCREASE IN NEED OF TURF & ORNAMENTAL LAND
In ornamental market, decorative plants, cut flowers and bulbs are grown as commercial crops, Pests can reduce profits quickly and dramatically. Companies such as BASF offers a wide range of innovative solutions for disease and insect control for general landscaping and the professional turf management requires skilled personnel and high-performance technology. Companies such as BASF supports greens keepers, superintendents, amenity managers, agronomists and technical experts in the turf care industry with a powerful portfolio of herbicides, fungicides, insecticides, biological solutions, colorants and turf nutrients.
Special types of fertilizers are used which enhance the quality of the soil and give better and greener grass. SOP is most commonly used fertilizer as it enhances the quality of the soil and increase the potash contain of the soil. There are different type of turf and ornamental grasses such as type of turf grass (zoysia grass, rye grass, bermuda grass, blue kentucky grass, tall fescue, and others, type of ornamental grass (fountain grass, ravenna grass, feather reed grass, purple millet, fibre optic grass, and others.
The turfgrass and lawncare industry in the United States is expected t to grow rapidly due to strong demand for residential and commercial property development, rising affluence, and the environmental and benefits of turf grass in the urban landscape.
The turf grass has various economic and environmental impacts globally. For example the turf grass industry made a significances profit of about 3.2 billion to the state economy of New Jersey.
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- The Global Sulfate of Potash Market is segmented on the basis of grade type, end user and geography. The report provides data for 2016 to 2025, 2017 being the current year while 2018 to 2025 is the forecast period for the report.
- The Global Sulfate of Potash market is segmented based on grade type into three notable segments; standard SOP, Granular SOP, Soluble SOP The Sulfate of Potash market is dominated by Granular SOP with 68.2% market share in 2018, growing at a CAGR of 5.6% in the forecast period.
- The Global Sulfate of Potash market is segmented based on end user into two notable segments; Agricultural and Industrial . In 2018, the Agricultural Sulfate of Potash segment is expected to dominate the market with 89.0% market share.
- Based on geography, the market is segmented into 5 geographical regions, North America, Europe, Asia-Pacific, South America and Middle East and Africa.
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