The
global demand for potassium chloride was valued at USD 21.67 billion
in 2012 and is expected to reach USD 32.87 billion in 2019, growing
at a CAGR of 10.8% from 2013 to 2019. In terms of volume, the global
demand for potassium chloride was 51,000.0 kilo tons in 2012.
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Growth
of the fertilizer industry is expected to be one of the major factors
driving the demand for potassium chloride over the next few years. In
addition, increasing demand for organic food has contributed towards
the growing consumption of potash fertilizers, thereby boosting the
potassium chloride market over the next few years. However,
significant price fluctuations of potassium chloride are expected to
make a severe impact on the growth of the market over the forecast
period. Increasing use of potassium chloride as potash mobilizing
biofertilizers is expected to provide new opportunities for the
growth of the market.
Demand
for potassium chloride was the highest from the fertilizer
application segment in 2012. Various potash fertilizers are used in
the industry which constitutes the largest global industrial use of
potassium chloride. Moreover, the market for KCl in fertilizers is
expected to witness the fastest growth over the forecast period,
rising at a CAGR of 5.1% from 2013 to 2019. Application of KCl for
industrial purposes is expected to witness noticeable growth where
majority of industrial grade potash is produced in Germany and North
America with U.S. being the largest consumer in certain water
treatment applications.
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Asia
Pacific was the largest market for potassium chloride and was valued
at USD 9.56 billion in 2012 on account of highly prevalent
agricultural activities. In addition, this region is expected to
witness the fastest growth rate owing to improved agricultural
productivity governed by regulatory bodies by modernizing practices
and equipments. Regions present in rest of the world (RoW) were the
second largest consumer for potassium chloride. The market for KCl in
emerging economies such as Brazil is rapidly growing as it is a major
supplier of feedstock for biofuels, which in turn is anticipated to
stimulate the demand for potash fertilizers in Latin America.
Potassium
Chloride Market - Application Analysis
- Fertilizers
- Pharmaceuticals
- Industrial
- Others (Feed, food products, etc.)
Potassium
Chloride Market - Regional Analysis
- North America
- Europe
- Asia-Pacific
- Rest of the World (RoW)
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