(MENAFN- EIN Presswire)
Reports And Data
Potassium Chloride Market Size – USD 16.98 Billion in 2018, Growth - CAGR of 4.9%. Increase in demand for Potassium Chloride as in fertilizer industries.
NEW YORK CITY, NY, UNITED STATES, November 27, 2021 /EINPresswire.com / -- Increasing demand for potassium chloride in online retails, especially in the emerging nations coupled with high investments in R&D of potassium chloride, are fueling the market growth.
The Global Potassium Chloride Market is forecast to reach USD 25.01 Billion by 2027, according to a new report by Reports and Data. Potassium Chloride (KCL) or potassium salt is the metal halide composition of potassium and chloride chemical compounds. KCL is one of the most important sources of potassium chemical elements. The crystalline powder is white, odorless & highly soluble in water and sourced from seawater or other salt-containing surface water. Potassium is a crucial mineral for the human body and principal base in the tissue of blood cells, as it helps to lower the adverse effects of salts and maintains the blood pressure. Chlorine provides electrochemical neutrality in the red blood cells. Caustic potash or potassium hydroxide is derived from KCL and one of the most prominent segment in the overall fertilizer market. Potassium chloride is listed as an essential medicine by the World Health Organization, and KCL generic medicine supposedly is the most suitable and safest salt for repletion of the common forms of hypokalemia.
Market Overview:
The chemicals and materials industry produces a massive variety of products consumed by people across the world on a daily basis. While several products, namely detergents, perfumes, soaps, and others are bought directly by the consumers, the others are used as ingredients to make numerous products. For instance, in Europe, nearly 70% of the chemicals that are manufactured are used to make other products. The industry uses a wide range of raw materials ranging from oil, minerals, air, and others. With growing competition among industry players, innovation remains vital in discovering new paths to meet the needs of the sophisticated, demanding and environmentally conscious consumers.
Get a Free Sample PDF Report to understand our report before you purchase:
The competitiveness within the chemical industry and among the chemicals, the chemical industry spends large amounts on research, particularly in the highly industrialized countries, which will foster market size in the coming years.
Key participants include Sinofert Holdings Limited, Agrium, The Potash Corporation, Uralkali, The Mosaic Company, ICL Specialty Fertilizers, The Arab Potash Company, CF Industries Holdings, Inc., Intrepid Potash, Inc., and Belaruskali, among others.
Further key findings from the report suggest
Potassium Chloride naturally preserves the personal care products and cosmetics by chelating bonds. The mixture of citric acid & its salts are also added to the personal care products in order to help adjust the acid to base ratio.
Growing penetration of the online retailing businesses for the chemicals and materials, especially in the emerging nations in the Asia Pacific, is helping the market grow by broadening the outreach in the areas where the services of the offline vendors are unavailable. Also, due to the non-involvement of distributors in the supply chain model, the profit margin is way more than that of the offline retailing. The online retailing is expected to gain a market share of 33.9% by 2027.
In January 2018, two major giants of the fertilizers industry in Canada namely, Agrium and Potash Corporation in Saskatchewan, merged into one company, named, Nutrien Ltd. Nutrien Ltd. was headquartered in Saskatchewan, Canada. The joint venture of these two giants have, in turn, made them the biggest fertilizer producer in the world.
Potassium chloride is used to treat hyperkalemia and disorders pertaining to the kidney, adrenal glands, and others. For some open-heart surgeries, KCL is injected into the heart muscles in order to stop the heartbeat as the procedure cannot proceed with the heart rhythmic contraction and expansion processes.
European region is forecasted to witness significant growth in the overall market, with 15.6% of market possession by 2027, having grown with a CAGR of 3.4% during the forecast period. Germany and the Netherlands hold some of the most prominent players in this region.
North America, with its high demand for potassium chloride in agricultural & healthcare industries, is accounted to retain a significant position in the global market by 2027, growing with a CAGR of 5.3% throughout the forecast period.
Download Reports Summary @
For the purpose of this report, Reports and Data have segmented the global Potassium Chloride market on the basis of distribution channel, form, end-use verticals, and region:
Distribution Channel Outlook (Revenue, USD Billion; 2016-2027)
Online Retailing
Offline Retailing
Form Outlook (Revenue, USD Billion; 2016-2027)
Powder
Granular
Crystal
End-Use Verticals Outlook (Revenue, USD Billion; 2016-2027)
Fertilizers Industry
Medical & Pharmaceutical
Industrial Applications
Others
Connect with an expert for customization of Report @
Regional Outlook (Revenue, USD Billion; 2016-2027)
North America
Europe
Asia Pacific
Latin America
MEA
Please connect with us to know more about the report and its customization feature. Our team will ensure the report is well suited to meet your requirements.
Explore Reports and Data's Prime Analysis of the global Materials and Chemicals Industry:
Gusseted Poly Mailers Market Analysis:
Immersion Cooling Market Growth:
Rubber Market Trends:
About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics and industries and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries including Healthcare, Technology, Chemicals, Power, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market
Tushar Rajput
Reports and Data
+1 212-710-1370
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn
MENAFN27112021003118003196ID1103260901
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.