Dublin, May 07, 2024 (GLOBE NEWSWIRE) -- The "Global Potassium Nitrate Market Report by Raw Material, End-Use, and Region 2024-2032" report has been added to ResearchAndMarkets.com's offering.
The global potassium nitrate market size reached US$ 1.8 Billion in 2023 and is projected to reach US$ 2.3 Billion by 2032, exhibiting a growth rate (CAGR) of 2.76% during 2023-2032.
The potassium nitrate market has witnessed a steady growth owing to several favourable factors. Potassium nitrate has been used to preserve food items, such as beef, salami, ham, etc., since the medieval ages. Nowadays, it is extensively used in the food industry for curing meat which represents the major demand-driver for the market growth.
Moreover, potassium nitrate is used in the production of fertilizers. As governments of developing nations are offering subsidies for the sales of fertilizers among the farmers, the consumption of potassium nitrate has witnessed a surge in the agriculture segment. In addition to this, a growing demand for speciality fertilizers is further stimulating the market growth.
Key Market Segmentation
This report provides an analysis of the key trends in each sub-segment of the global potassium nitrate market report, along with forecasts at the global and regional level from 2024-2032. The report has categorized the market based on raw material and end-use.
- Based on the raw material, the market has been segmented as potassium chloride, ammonium nitrate and sodium nitrate. Currently, potassium chloride dominates the market, holding the largest share.
- On the basis of end-use, agriculture represents the largest segment. Some of the other end-use segments are pharmaceutical industry, food industry and general industries.
- Region-wise, Asia Pacific is the leading market, accounting for the majority of the total global market.
Competitive Landscape
The competitive landscape of the market has also been examined with some of the key players being Arab Potash Company, Haifa Negev technologies Ltd., SQM S.A., Uralchem Group and Yara International.
This report provides a deep insight into the global potassium nitrate market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter's five forces analysis, value chain analysis, etc.
Key Questions Answered in This Report
- How has the global potassium nitrate market performed so far and how will it perform in the coming years?
- What are the key regions in the global potassium nitrate market?
- What has been the impact of COVID-19 on the global potassium nitrate market?
- Which are the major raw materials in the global potassium nitrate market?
- What are the key end-use segments in the global potassium nitrate market?
- What are the various stages in the value chain of the global potassium nitrate industry?
- What are the key driving factors and challenges in the global potassium nitrate industry?
- What are the import and export trends in the global potassium nitrate market?
- What is the structure of the global potassium nitrate market and who are the key players?
- What is the degree of competition in the global potassium nitrate market?
- How is potassium nitrate manufactured?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 145 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value (USD) in 2023 | $1.8 Billion |
| Forecasted Market Value (USD) by 2032 | $2.3 Billion |
| Compound Annual Growth Rate | 2.7% |
| Regions Covered | Global |
Report Segmentation:
Breakup by Raw Material:
- Potassium Chloride
- Ammonium Nitrate
- Sodium Nitrate
Breakup by End-Use:
- Agriculture Industry
- General Industries
- Pharmaceutical Industry
- Food Industry
- Others
Breakup by Region:
- Asia Pacific
- Europe
- North America
- Middle East and Africa
- Latin America
Companies Featured
- Arab Potash Company
- Haifa Negev technologies Ltd.
- SQM S.A.
- Uralchem Group
- Yara International
For more information about this report visit https://www.researchandmarkets.com/r/4z2pvj
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