Rising demand for eco-friendly potash fertilizers from agriculture sector is expected to drive the USA and Canada potassium sulfate market in the forecast period. Potassium sulfate also known as sulfate of potash (SOP) comes from the family of potash fertilizers with others being potassium chloride (Muriate of Potash, MOP), potassium nitrate, and other salts of potassium and magnesium.
Sulfate of potash (SOP) or potassium sulfate is an inorganic compound that has gained immense popularity as an ideal fertilizer due to its ability to provide necessary nutrition to the crops. Unlike other potash fertilizers, sulfate of potash (SOP) has the lowest salt index per unit of K2O, low chloride content, and significant potassium content.
Potassium sulfate is suitable for chloride-sensitive crops and saline soil. It has become an excellent source of potassium (K) nutrition for plants and is utilized for citrus fruits, tobacco, vegetables, water-bearing fruits, and soil replenishment. Apart from the aforementioned crops, it is also used for regular crops such as cereals and pulses.
Addition of potassium sulfate supports plant growth, enhances water preservation, and increases crop yield and disease resistance. Thanks to its low chlorine and high potassium and sodium content, this premium potash fertilizer has become an ideal alternative to potassium chloride and other conventional fertilizers.
Key Trends Shaping the Potassium Sulfate Industry
- Rising Medical and Industrial Applications to Create New Growth Opportunities for Potassium Sulfate Industry
- Potassium sulfate has been used in medical procedures since the 17th century. It is used to treat urinary problems and make people sweat. It also finds application as an osmotic laxative used to cleanse colon before procedures like colonoscopy.
- Potassium sulfate is also added in cosmetics and skin care products as a thickening agent or rheology modifier. Additionally, it is used in a range of industrial processes, such as those that create various chemicals.
- It is used to make high-quality inorganic compounds such as potassium alum, potassium persulfate, highly pure potassium sulfate, and potassium water glass in addition to catalyzing specialty plasters, gypsum board, and anhydrite screed.
- Besides these, it is used in the production of drawing lubricants, water-based chloride-free drilling fluid additives, and fire extinguisher powder for class B/C fires. Thus, rising adoption of potassium sulfate for these industrial applications is expected to create significant growth opportunities for the market during the assessment period.
Country-wise Insights
Consistent Demand from End Users to Boost Potassium Sulfate Sales in the USA
According to Future Market Insights, the USA potassium sulfate market is set to propel at a moderate CAGR during the forecast period owing to the rising demand for low toxic fertilizers across thriving agriculture sector.
Among the nitrogen, phosphate, and potash fertilizers, around one-fourth share is occupied by potash fertilizers in the USA plant nutrition market. Potassium sulfate is extensively used for improving yield and health of tree nuts, fruits, and vegetables across the USA
Within the USA, the Midwest region currently dominates the market with more than one-third share followed by the south and northeast regions. Presence of multiple suppliers and high areas under agriculture are the key reasons driving demand for potassium sulfate across Midwest and Southern regions.
Canada Potassium Sulfate Market
Robust Development in Fertilizer Industries and Increase in Potash Fertlizers Export Boosting Market in Canada
Future Market Insights predicts Canada’s potassium sulfate market to exhibit a steady CAGR of around 3.4% between 2022 and 2032, generating significant revenues duirng the assessment period. Growth in the market is driven by rapid expansion of fertilizer industries and increasing export of fertilizers such as potash.
Over the years, Canada has emerged as a production hub of various fertilizers. It is considered to be the largest producer and exporter of potash in the world. The country produced around 22.5 million tonnes of potash in 2021 and exported nearly 21.6 million in the same year as per the Government of Canada. This rising production and export of fertilizers will continue to boost the potassium sulfate market across Canada during the forecast period.
In Canada, the Prairie Provinces and the Central Canada Province collectively account for significant consumption of potassium sulfate. Based on product form, granular potassium sulfate is slated to witness surge in demand, especially from the tree nuts, corn, and wheat producers in Canada. The segment is anticipated to register a CAGR of more than 3.5% over the estimation period.
