The compounds that contain potassium are referred to as potash. Potassium chloride (KCI), potassium nitrate (KNO3), and potassium sulphate (K2SO4) are some of the examples of potash. It contains potassium in water-soluble form. The extraction of potassium carbonate was done by leaching wood ashes and then evaporating the solution in large pots.
The global Potash Market size is expected to be valued at US$ 19 million, exhibiting a CAGR of over 4.5% over the forecast period (2019-2027). Increasing demand for fertilizers is one of the major factors driving growth of the global potash market. The demand for food is increasing globally due to increasing population and rapid urbanization.
Leading Companies in the Potash Industry:
1) Passport Potash Inc.
Passport Potash Inc. is a TSX-listed resource company engaged in the exploration and development of potash properties. The company was formerly known as Passport Metals Inc. and changed its name to Passport Potash Inc. in November 2009. Passport Potash Inc. was incorporated in 1987 and is headquartered in Vancouver, Canada.
As of January 2021, the company announced that it had identified high-grade lithium mineralization in drill core samples from the project.
2) The Mosaic Company
The Mosaic Company is a Fortune 500 company that mines phosphate, potash, and collects urea for fertilizer, through various international distribution networks and Mosaic Fertilizantes. It is the largest U.S. producer of potash and phosphate fertilizer. Mosaic was founded in the year 2004, through combination of IMC Global Inc. and Cargill Incorporated. The headquarters are located in Tampa, Florida, U.S.
As of February 2022, the Mosaic Company has completed the acquisition of Plant Response, industry consolidator of leading biological-based solutions.
3) Qinghai Salt Lake Industry
Qinghai Salt Lake Industry is a mechanical or industrial engineering company. Qinghai Salt Lake Industry Co Ltd manufactures and markets fertilizer products. The Company produces potash fertilizers, potassium chloride, and other products. Qinghai Salt Lake Industry also produces salts, chemicals, and other products. The company was founded in the year 1997, and the headquarters are located in Golmud, Haixi Mongol, China.
In 2020, the company signed an agreement with Tesla in order to supply the automaker with lithium hydroxide, for the production of electric vehicle batteries.
4) Nutrien
Nutrien is a Canadian fertilizer company. It is the largest producer of potash and the third largest producer of nitrogen fertilizer in the world. It has over 2,000 retail locations across North America, South America, and Australia with more than 23,500 employees. The company was founded in the year 2018, and the headquarters are located in Saskatoon, Saskatchewan, Canada.
In July 2022, Nutrien announced that it would acquire Brazilian retail fertilizer company Casa do Adubo, increasing its expansion in Latin America.
5) Vale S.A.,
Vale S.A., formerly Companhia Vale do Rio Doce is a Brazilian multinational corporation engaged in metals and mining and one of the largest logistics operators in Brazil. Vale is the largest producer of iron ore and nickel in the world. It also produces manganese, ferroalloys, copper, bauxite, potash, kaolin, and cobalt, currently operating nine hydroelectricity plants, and a large network of railroads, ships, and ports used to transport its products. The company was founded in the year 1942, and the headquarters are located in Rio de Janeiro, Brazil.
As of January 2020, the company announced that it had completed the acquisition of Alianca, a global logistics service provider and leader for domestic and international freight solutions.
