Liquid Potassium Fertilizers Global Market Report 2024

The liquid potassium fertilizers market has grown strongly in recent years. It will grow from $1.81 billion in 2023 to $1.91 billion in 2024 at a compound annual growth rate (CAGR) of 5.4%. The growth observed in the historical period can be attributed to factors such as the increased global population, the adoption of intensive farming practices, a shift in dietary patterns, the adoption of water-soluble fertilizers, and a focus on enhancing crop yield and quality.

The liquid potassium fertilizers market is expected to see strong growth in the next few years. It will grow to $2.33 billion in 2028 at a compound annual growth rate (CAGR) of 5.0%. The anticipated growth in the forecast period can be attributed to factors such as the global expansion of agriculture, the increasing demand for high-value crops, concerns about environmental sustainability, the adoption of precision agriculture practices, and government initiatives in the agricultural sector. Major trends expected in the forecast period include the expansion of the market in developing agricultural regions, the adoption of drip irrigation systems, government initiatives supporting sustainable agriculture, investments in research and development, and efforts to enhance nutrient uptake efficiency.

The liquid potassium fertilizers market is poised for growth, driven by the increasing demand for agrochemicals. Agrochemicals, encompassing various chemical substances used in agriculture, play a crucial role in enhancing crop production and protecting crops from pests, diseases, and weeds. Liquid potassium fertilizers, a vital component of agrochemicals, supply crops with essential potassium, supporting plant growth and development. Potassium is integral to multiple plant processes, including photosynthesis, water balance regulation, and enzyme activation. Deficiencies in potassium can lead to diminished growth, lower yields, and inferior crop quality. The surge in the demand for agrochemicals, exemplified by a notable increase in pesticide sales reported by Agronews, is a key factor propelling the liquid potassium fertilizers market.

A significant driver for the liquid potassium fertilizers market is the pursuit of increased crop yield. Farmers seek improved productivity, and liquid potassium fertilizers offer efficacy, adaptability, and precision in contemporary agriculture practices. The desire for higher crop yields is evident in statistics, such as the increased harvest of barley and wheat in the UK, showcasing the positive impact of liquid potassium fertilizers. As farmers continue to prioritize productivity, the demand for liquid potassium fertilizers is expected to grow.

Strategic investments, particularly facility expansion projects, are a focal point for major companies in the liquid potassium fertilizer market. Facility expansion involves enlarging or enhancing existing physical structures to accommodate increased demand or operational needs. Van Iperen International B.V.'s plan to enhance the GreenSwitch Nitrate factory in the Netherlands exemplifies this strategy. The expansion project, backed by a DEI+ subsidy, aims to boost efficiency and capacity, diversify sustainable nitrate fertilizer offerings, and introduce the production of nitric acid alongside liquid potassium nitrate.

Major players in the liquid potassium fertilizers market are strategically forming partnerships to introduce innovative products such as nano-bubble-infused fertilizers, aiming to enhance their market profitability. Nano-bubble-infused fertilizers represent a category of fertilizers incorporating nanobubbles into the nutrient solution. A notable collaboration occurred in July 2022 when Moleaer Inc., a US-based nanobubble technology company, joined forces with Rain AG, an Australia-based liquid fertilizer provider, to introduce nano-bubble-infused fertilizers. This collaboration proved beneficial in boosting crop yields, reducing fertilizer usage, and minimizing off-target nutrient uptake. Nanobubbles, characterized by their extremely small size (typically less than 100 nanometers in diameter), contain gas. The resulting nanobubble-enhanced RainAg fertilizers demonstrated significant advantages, including up to a 16% increase in corn yields, a 12% increase in cotton yields, and a substantial profitability boost exceeding $5,100 per acre for tomatoes. Moreover, strawberries experienced an impressive increase of over 110%. These fertilizers not only contribute to reduced fertilizer usage but also play a role in mitigating off-target nutrient runoff and groundwater leaching.

In July 2021, ICL Group Ltd., an Israel-based specialty mineral and specialty chemicals company, successfully acquired Compass Minerals América do Sul S.A., a Brazil-based specialty plant nutrition company specializing in liquid foliar fertilizer products. This acquisition positioned ICL Group Ltd. to offer clients a comprehensive and cutting-edge range of plant nutrition products throughout the entire agricultural value chain. The strategic goal of leading in specialized plant nutrition areas experiencing rapid growth was expedited through this acquisition.

Major companies operating in the liquid potassium fertilizers market report are Yara International Asa, Agro Liquid, Nufarm Ltd., Nutrien Ltd., EuroChem Group AG, Sociedad Química y Minera de Chile, The Mosaic Company, Israel Chemical Ltd., Foxfarm Soil And Fertilizer Co., Kugler Company, K+S Aktiengesellschaft, Valagro S.p.A, Compo Expert GmbH, Adama Agricultural Solutions, BASF SE, CF Industries Holdings Inc., Agrium Inc., Haifa Group, Helm AG, Sinofert Holdings Limited, Van Iperen International, Plant Food Company Inc., Miller Chemical & Fertilizer LLC, Nachurs Alpine Solutions, Agro Bio Chemicals, Agzon Agro, Plant Fuel Nutrients LLC, Nutri-Tech Solutions, Valagro SPA, Uralchem Holding PLC.

Asia-Pacific was the largest region in the liquid potassium fertilizers market in 2023. The regions covered in the liquid potassium fertilizers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the liquid potassium fertilizers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The main types of nutrients found in liquid potassium fertilizers include sulfate of potash, potassium acetate, potassium chloride, potassium nitrate, potassium carbonate, potassium citrate, and potassium formate. Sulfate of potash is a highly effective fertilizer with elevated potassium levels and low chloride levels, providing essential minerals to help plants resist diseases and pests. It is available in organic and synthetic forms and is applied to various crops such as cereals and grains, fruits and vegetables, oilseeds and pulses, among others. Different application methods include soil application, foliar application, fertigation, and others.

The liquid potassium fertilizers market research report provides liquid potassium fertilizers market statistics, including liquid potassium fertilizers industry global market size, regional shares, competitors with a liquid potassium fertilizers market share, detailed liquid potassium fertilizers market segments, market trends and opportunities, and any further data you may need to thrive in the liquid potassium fertilizers industry. This liquid potassium fertilizers market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The liquid potassium fertilizers market consists of sales of potassium hydroxide, potassium sulfate, sulfate potash magnesia, and muriate of potash. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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