Market Overview

The Global Potash Fertilizer Market was valued at USD 19.70 billion in 2018 and is projected to reach USD 25.05 billion in the year 2024, witnessing a CAGR of 4.37% over the forecast period of 2019-2024.

  • Potassium is a major nutrient, required in high doses by plants. The element regulates the opening and closing of stomata and therefore regulates the uptake of Carbon dioxide. Potassium is also important for other functions such as activation of enzymes and the production of Adenosine Triphosphate (ATP).
  • Potassium is an element that is naturally available in deposits and cannot be manufactured synthetically. Potassium is the seventh most common element and constitutes 2.4% of the mass of the earth’s crust. The total global potash deposits amount to an estimated 210 billion metric ton of potassium oxide, of which 16 billion metric ton are recoverable using existing technologies.
  • Among the 16 billion metric ton, Canada holds deposits to the tune of 10 billion metric ton, most of it in the province of Saskatchewan. Russia and Belarus hold 2.2 billion metric ton and 1 billion metric ton respectively and these three countries dominate the global potash supply, having a direct control on the prices of potash fertilizers.


Scope of the Report

Potash quantity in the soil is quantified in terms of potassium dioxide (K2O). The current report estimates the size of the potash fertilizer market at the farmer level. The most common form of potash fertilizers used by farmers across the world is muriate of potash (potassium chloride). Another form of potash fertilizer available in markets is sulfate of potash (potassium sulfate), which is used to a lesser extent. The report segments the market by type into these two forms and by application into different crop types.

Key Market Trends

Potash Deficiencies in Major Cereal Crops Driving Demand

Grains and cereals are crops that require high dosages of potassium. Since potassium is an element that moves quickly within the plant tissue, the deficiency is first noticed in older leaves. In the case of rice, the margins of older leaves turn yellowish-brown or dark brown necrotic spots appear on older leaves. In the case of maize and other cereals such as sorghum, firing or scorching appears on the outer edge of older leaves. Underneath the soil, poor root development and defective nodal tissues are observed. Potassium deficiency is commonly noticed in most soils across developing markets, which grow large acreages of rice, maize, and wheat.

Asia Pacific Leads the Global Potash Fertilizer Market

Potassium is mined from salt deposits. Large potash deposits are found in Russia, which is the world’s largest producer of this nutrient. Owing to large salt deposits in Russia, Asia-Pacific accounts for the largest share of the potash fertilizer segment. China, Indonesia, Malaysia, and India are the largest potash exporters in the international market.

The countries in Asia are recoding growth in the potash fertilizer segment, as they are witnessing increasing requirement for crops. In addition, these countries have historically been under-applied potash fertilizer, as compared to scientifically recommended levels of potash fertilizer application.

Competitive Landscape

The potash fertilizer industry is highly consolidated with top players occupying the majority of the market. In 2018, the top companies involved in the potash fertilizers market at the global level were Nutrien Limited, The Mosaic Company, JSC Belaruskali, Uralkali PJSC, Intrepid Potash Inc, among others.

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