(MENAFN- GlobeNewsWire - Nasdaq)
New York, Sept. 23, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report 'Potash Global Market Report 2022' -
53 billion in 2021 to $25.5 billion in 2022 at a compound annual growth rate (CAGR) of 3.9%. The potash mining market is expected to grow to $27.28 billion in 2026 at a compound annual growth rate (CAGR) of 1.7%.
The potash mining market consists of sales of potash by entities (organizations, sole traders, and partnerships) that are used to mine potash through conventional and solution mining methods.
The main types of potash mining are potash-agriculture and potash-industrial.Potash (potassium chloride, KCl) is used primarily as an agricultural fertilizer because it is an excellent source of soluble potassium, one of the three primary plant macronutrients along with nitrogen and phosphorus.
The various applications involved are grains and cereals, pulses and oilseeds, commercial crops, fruits and vegetables, and other applications The main types of anthracite mining are standard-grade anthracite, high-grade anthracite, and ultra-high-grade anthracite.Standard grade is used as a domestic fuel and in the production of industrial power.
The mining type includes underground mining, and surface mining.
South America was the largest market in the potash mining market in 2021. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The growth in the potash mining market is due to the increasing demand for mining in North America. For instance, in 2020, according to USGS data, the U.S. Geological Survey stated that U.S. mines produced approximately 86.3billion in minerals 2019.
Potash solution mining techniques are being utilized for potash mining to improve extraction efficiency and increase profitability.Potash solution mining involves boring injection and recovery wells into the ground.
A heated brine solution is injected into the deposit to dissolve the potash salts. The dissolved salts are then extracted to the surface and potash is separated and conditioned, which is the major trend in the potash mining market.
The countries covered in the potash mining market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
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