Potassium Chloride Market Size, Share & Industry Analysis, By Application (Pharmaceuticals, Fertilizers, Food, Industrial, Others) And Regional Forecast, 2024-2032
KEY INDUSTRY INSIGHTS
Potassium Chloride also known as sylvite or potassium salt is a metal halide with constituent element potassium and chlorine. It is usually a white or colorless lustrous crystalline solid with no odor. It gets easily dissolved in water and gives salt-like taste. It is used in fertilizers, medicines, food processing and other applications. It is also used in de-icing applications which are safer for plants and animals.
The major factor driving the potassium chloride market is the demand form metal, glass and petroleum sector. Potassium chloride is the prime raw material used as feedstock for various potassium compounds used in metal casting, welding, and soldering. Additionally, increasing demand for fertilizers to boost the yield is expected to fuel the market growth.
However, potassium chloride can be toxic if exposed in larger quantities. Intravenously the LD50 for potassium chloride is 57.2 mg/kg. Ingestion in such quantities can cause severe cardiac arrest and rapid death. This is expected to limit the market growth.
Key Market Driver -
Increasing demand from various end-sectors.
Key Market Restraint -
Toxic nature of potassium chloride.
Market Segmentation:
Based on application, market is segmented into pharmaceutical, fertilizer, food, industrial, and other applications.
From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Key Players Covered:
The global potassium chloride market consists of global & regional players operating. Some of the key players in the market include Arab Potash, Sinofert, Agrium, Potash Corporation of Saskatchewan, JSC Belaruskali , CF Industries Holdings, PotashCorp, IMC Global, and others.
Key Insights
- New Advancements in Production Technologies
- Key Trends in the Potassium Chloride Market
- New Product Launches, Expansions, Key Players
- Ranking of Key Players in the Market
Regional Analysis:
The market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is expected to hold the largest share in market due to the high demand for fertilizers from India, China, and other south Asian countries. North America is estimated to hold significant share due to the high demand from metal and glass industry. Europe is expected to show considerable growth due to high demand from industrial sector. Latin America & Middle East & Africa shall exhibit sluggish growth by the end of forecast period.
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Segmentation
ATTRIBUTE | DETAILS |
By Application |
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By Geography |
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Potassium Chloride Industry Developments
- In December 2020, Verkhnekamsk Potash Co., a part of Acron Group completed the skip shaft sinking at the Talitsky Mine construction site. Acron group is developing Potash deposit as a part of its investment program.
- In October 2017, Sinofert sold the stakes in key production assets to parent to fund a major restructure. The company sold the 20.5 % of stakes of Shenzen based potassium fertilizer maker industry.
- Ongoing
- 2023
- 2019-2022
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