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NEW YORK, Dec. 8, 2021 /PRNewswire/ -- The potassium nitrate market size will grow by 626.13 th tons from 2020 to 2025, according to the latest market analysis report from Technavio. The report also identifies the market to witness an accelerating growth momentum at a CAGR of 4.49% during the forecast period. Technavio has also classified some of the crucial factors influencing the market positively and adversely during the forecast period in this report.
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Attractive Opportunities in Potassium Nitrate Market by Product, End-user, and Geography - Forecast and Analysis 2021-2025
Potassium Nitrate Market 2020-2025: Competitive Landscape
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, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The vendors present in the market are mainly focusing on collaboration and partnerships to develop their product manufacturing capability and establish their presence in diversified geography with a huge customer base. For instance, In February 2021, Sociedad Quimica y Minera de Chile SA joined the IRMA initiative to deepen its commitment to sustainability. Similarly, In September 2021, the company acquired Ecolan Oy, a Finnish producer of recycled fertilizers, to expand its organic fertilizer business. Some of the key vendors operating in the market include:-
- Anish Chemicals
- Arab Potash Co.
- ARIHANT BIO FERTICHEM Pvt. Ltd.
- Haifa Group
- Migao Corp.
- Jiangxi Longwell Industrial Co. Ltd.
- Ram Shree Chemicals
- Sociedad Quimica y Minera de Chile SA
- Wentong Potassium Salt Group Co. Ltd.
- Yara International ASA
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Potassium Nitrate Market 2020-2025: Drivers and Challenges
The increasing demand for potassium nitrate-based fertilizers, surging application in the food processing industry, and growing use of potassium nitrate for mining purposes will offer immense growth opportunities. Potassium nitrate-based fertilizers and agricultural chemicals are gaining importance as they enhance plant growth and the quality of crops. In addition, these fertilizers enhance resistance to fungal diseases, improve drought tolerance, enhance photosynthesis, maintain a balance between proteins and carbohydrates, increase food formation in plants, and increase root growth. 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.
However, factors such as risk of health hazards due to potassium nitrate, threat of alternatives to potassium nitrate-based fertilizers, and stringent regulations and policies will challenge the growth of the market participants. 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. Furthermore, exposure to potassium nitrate may lead to severe indications, which can even be life-threatening. For instance, high levels of potassium nitrate in the blood may reduce its oxygen transportation capability, in addition to causing headaches, fatigue, and dizziness.
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Potassium Nitrate Market 2020-2025: Segmentation
- By End-user, the market is segmented into:
- Agriculture
- General Industries
- Pharmaceutical
- Food And Beverages
The agriculture segment led the potassium nitrate market share in 2020 as potassium nitrate is a soluble source of the two major essential nutrients required for plant growth. Potassium nitrate-based fertilizers are generally added to the soil before the growing season or during the growing season as a supplement. In addition, potassium nitrate is also frequently used for hydroponic culture and plant production. The compound has widespread applications in the cultivation of several crops, including rice, wheat, corn, sugarcane, cotton, and soybean. Therefore, 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 during the forecast period.
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- Geography
- APAC
- North America
- Europe
- MEA
- South America
In 2020, APAC witnessed high consumption and production of potassium nitrate products. The region is expected to register the highest CAGR during the forecast period. China and India are among the key contributing countries in the region. The region is expected to register the highest CAGR during the forecast period. China and India are among the key contributing countries in the region. Furthermore, the growth in the animal population, changing lifestyle, and increasing disposable income in these economies are expected to collectively drive APAC to emerge as the largest revenue-generating regional segment of the potassium nitrate.
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Potassium Nitrate Market 2020-2025: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our potassium nitrate market report covers the following areas:
- Potassium Nitrate Market size
- Potassium Nitrate Market trends
- Potassium Nitrate Market industry analysis
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Potassium Nitrate Market 2020-2025: Key Highlights
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will assist potassium nitrate market growth during the next five years
- Estimation of the potassium nitrate market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the potassium nitrate market
- 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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| 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 |
| 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 future consumer dynamics, market condition analysis for the forecast period |
| Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Key Topics Covered
- Executive Summary
- Market Landscape
- Market Sizing
- Five Forces Analysis
- Market Segmentation by End-user
- Customer landscape
- Geographic Landscape
- Vendor Landscape
- Vendor Analysis
- Appendix
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contact Technavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: [email protected] Website:
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