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Potassium Nitrate Market by End-user and Geography - Forecast and Analysis 2021-2025

  • Published: Nov 2021
  • Pages: 120
  • SKU: IRTNTR41574
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The potassium nitrate market share is expected to increase by 626.13 thousand tons from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 4.49%.

This potassium nitrate market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers potassium nitrate market segmentation by end-user (agriculture, general industries, pharmaceutical, and food and beverage) and geography (APAC, North America, Europe, MEA, and South America). The potassium nitrate market report also offers information on several market vendors, including Anish Chemicals, Arab Potash Co., ARIHANT BIO FERTICHEM Pvt. Ltd., Haifa Group, Jiangxi Longwell Industrial Co. Ltd., Migao Corp., Ram Shree Chemicals, Sociedad Quimica y Minera de Chile SA, Wentong Potassium Salt Group Co. Ltd., and Yara International ASA among others.

What will the Potassium Nitrate Market Size be During the Forecast Period?

Potassium Nitrate Market Size

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Potassium Nitrate Market: Key Drivers, Trends, and Challenges

The increase in demand for potassium nitrate-based fertilizers is notably driving the potassium nitrate market growth, although factors such as risk of health hazards due to potassium nitrate may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the potassium nitrate industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Potassium Nitrate Market Driver

One of the key factors driving growth in the potassium nitrate market is the increase in demand for potassium nitrate-based fertilizers. Although the global population has increased, the area of agricultural land has not expanded to support the additional demand. To address this challenge, there is an increased focus on enhancing agricultural productivity in the limited land area, thereby propelling the use of fertilizers in crop production. Thus, various agricultural chemicals such as pesticides and fertilizers are increasingly used to improve crop yield, soil fertility, pest management, and crop safety. Potassium nitrate-based fertilizers and agricultural chemicals are gaining importance as they enhance plant growth and the quality of crops. Additionally, potassium nitrate has gained high adoption among end-users due to its cost-effectiveness. Therefore, the increase in demand for potassium nitrate-based fertilizers is expected to drive the growth of the global potassium nitrate during the forecast period.

Key Potassium Nitrate Market Challenge

The risk of health hazards due to potassium nitrate will be a major challenge for the potassium nitrate market vendors during the forecast period. Potassium nitrate is widely known for its widespread applications and benefits. However, several health hazards are associated with the compound, which can potentially limit the sales as well as the applications of potassium nitrate. Human exposure to potassium nitrate may lead to muscle weakness, gastrointestinal problems, increased urination, discomfort in legs, anxiety, and numbness around the mouth, feet, and hands. Additionally, direct contact of the compound with the eyes and skin may induce burning sensation or irritation, while prolonged contact with the eyes may cause inflammatory conditions such as momentary redness in the conjunctiva. Hence, the risk of health hazards due to exposure to potassium nitrate is expected to hamper the growth of the global potassium nitrate market.

This potassium nitrate market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Who are the Major Potassium Nitrate Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

  • Anish Chemicals
  • Arab Potash Co.
  • ARIHANT BIO FERTICHEM Pvt. Ltd.
  • Haifa Group
  • Jiangxi Longwell Industrial Co. Ltd.
  • Migao Corp.
  • Ram Shree Chemicals
  • Sociedad Quimica y Minera de Chile SA
  • Wentong Potassium Salt Group Co. Ltd.
  • Yara International ASA

 

This statistical study of the potassium nitrate market encompasses successful business strategies deployed by the key vendors. The potassium nitrate market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The potassium nitrate market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Which are the Key Regions for Potassium Nitrate Market?

Potassium Nitrate Market Market segmentation by region

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55% of the market's growth will originate from APAC during the forecast period. China, South Korea (Republic of Korea), and India are the key markets for potassium nitrate in APAC. Market growth in this region will be faster than the growth of the market in other regions.

Large areas of farmland and soil fertility, combined with the growing demand for food grains from the rising population, make agriculture one of the largest and lucrative sectors for potassium nitrate applications in APAC. This will facilitate the potassium nitrate market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating End-user Segments in the Potassium Nitrate Market?

Potassium Nitrate Market Segmentation

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The potassium nitrate market share growth by the agriculture segment will be significant during the forecast period. The agriculture segment held the largest share in 2020 due to the wide use of potassium nitrate-based fertilizers for their ability to improve crop yield and quality. Additionally, with the growing population, food consumption is also increasing, which is leading to the demand for better agricultural productivity using potassium nitrate. The increasing use of potassium nitrate as a fertilizer and fungicide in the agricultural sector is expected to drive the growth of the global potassium nitrate market

This report provides an accurate prediction of the contribution of all the segments to the growth of the potassium nitrate market size and actionable market insights on post COVID-19 impact on each segment.

 

Potassium Nitrate Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 4.49%

Market growth 2021-2025

626.13 th tons

Market structure

Fragmented

YoY growth (%)

4.00

Regional analysis

APAC, North America, Europe, MEA, and South America

Performing market contribution

APAC at 55%

Key consumer countries

China, US, India, Mexico, South Korea (Republic of Korea), and France

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Anish Chemicals, Arab Potash Co., ARIHANT BIO FERTICHEM Pvt. Ltd., Haifa Group, Jiangxi Longwell Industrial Co. Ltd., Migao Corp., Ram Shree Chemicals, Sociedad Quimica y Minera de Chile SA, Wentong Potassium Salt Group Co. Ltd., and Yara International ASA

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

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What are the Key Data Covered in this Potassium Nitrate Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive potassium nitrate market growth during the next five years
  • Precise estimation of the potassium nitrate market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the potassium nitrate industry across APAC, North America, Europe, MEA, and South America
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of potassium nitrate market vendors

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Executive Summary

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2020
  • Market outlook: Forecast for 2020 - 2025

Five Forces Analysis

  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by End-user

  • Market segments
  • Comparison by End-user
  • Agriculture - Market size and forecast 2020-2025
  • General industries - Market size and forecast 2020-2025
  • Pharmaceutical - Market size and forecast 2020-2025
  • Food and beverage - Market size and forecast 2020-2025
  • Market opportunity by End-user

Customer landscape

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • APAC - Market size and forecast 2020-2025
  • North America - Market size and forecast 2020-2025
  • Europe - Market size and forecast 2020-2025
  • MEA - Market size and forecast 2020-2025
  • South America - Market size and forecast 2020-2025
  • Key leading countries
  • Market opportunity by geography
  • Market drivers
  • Market challenges
  • Market trends

Vendor Landscape

  • Overview
  • Vendor landscape
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • Anish Chemicals
  • Arab Potash Co.
  • ARIHANT BIO FERTICHEM Pvt. Ltd.
  • Haifa Group
  • Jiangxi Longwell Industrial Co. Ltd.
  • Migao Corp.
  • Ram Shree Chemicals
  • Sociedad Quimica y Minera de Chile SA
  • Wentong Potassium Salt Group Co. Ltd.
  • Yara International ASA

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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Potassium Nitrate market growth will increase by $626.13 thousand tons during 2020-2025.
The potassium nitrate market is expected to grow at a CAGR of 4.49% during 2020-2025.
Technavio has segmented the potassium nitrate market by product (Agriculture, General industries, Pharmaceutical, and Food and beverages) ,end user (Agriculture, General industries, Pharmaceutical, and Food and beverage) , and geographic (APAC, North America, Europe, MEA, and South America).
Anish Chemicals, Arab Potash Co., ARIHANT BIO FERTICHEM Pvt. Ltd., Haifa Group, Jiangxi Longwell Industrial Co. Ltd., Migao Corp., Ram Shree Chemicals, Sociedad Quimica y Minera de Chile SA, Wentong Potassium Salt Group Co. Ltd., Yara International ASA are a few of the key vendors in the potassium nitrate market.
APAC will register the highest growth rate of 55.01% among the other regions. Therefore, the potassium nitrate market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
  • China
  • US
  • India
  • Mexico
  • South Korea (Republic of Korea)
  • France
The key factors driving the potassium nitrate market growth are:
  • Increase in demand for potassium nitrate-based fertilizers
  • Growing use of fungicides
The potassium nitrate market vendors should focus on grabbing business opportunities from the agriculture segment as it accounted for the largest market share in the base year.
  • What are the key global market and the regional market share?
  • What are the revenue-generating key market segments?
  • What are the key factors driving and challenging this market’s growth?
  • Who are the key market vendors and their growth strategies?
  • What are the latest trends influencing the growth of this market?
  • What are the variables influencing the market growth in the primary regions?
  • What are the factors influencing the growth of the parent market?
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  • Covid-19 impact and recovery analysis
  • Data on revenue-generating market segments
  • Details on the market shares of various regions
  • Five-force market analysis

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