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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.
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.
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.
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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