POTASH MARKET ANALYSIS

Potash MarketSize and Trends

Market Dynamics

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. Therefore, for agricultural activities, farmers use potash-based fertilizers for healthy growth of plants. This results in increasing demand for potash, thereby driving the potash market growth. Moreover, increasing shrinking of arable land is resulting in rising demand for agricultural fertilizers to enhance the productivity and yield per hectare. This will create growth opportunities for the potash market.

One of the key trends of potash market include increasing adoption of potash in hydroponics farming. This technique of farming is highly efficient when compared to traditional farming, which requires more amount of space, water, and pesticides.