Portland, OR, Oct. 20, 2022 (GLOBE NEWSWIRE) — According to the report, the potassium nitrate market accounted for USD 1.7 billion in 2021 and is expected to register USD 2.4 billion by 2031, growing at a CAGR of 4.0% from 2022 to 2031. The report offers a detailed analysis of changing market trends , major segments, major investment pockets, value chain, regional landscape and competitive scenario. The report is a useful source of information for major market players, new entrants, investors and stakeholders in developing strategies for the future and taking action to strengthen their position in the market.
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|Market size in 2020||$1.7 billion|
|Market size in 2030||$2.4 billion|
|Number of pages in the report||225|
|Segments Covered||Raw material, end-use industry and geography.|
|Drivers||Increase in demand for products for the food and pharmaceutical industry|
|Opportunities||Increased energy requirements|
|holds back||Inhalation of potassium nitrate can cause coughing and sneezing, headache, dizziness and fatigue|
|Increase in mining applications for drilling and blasting|
- During the first months of the lockdown, the potassium nitrate market suffered from the closure of foreign supply networks and distribution companies. In addition, purchasing and consumption habits have changed considerably, which has had a negative effect on the market.
- The prolonged lockdown has disrupted the supply chain and led to a move away from the national company.
- The lockdown has harmed the agricultural sector, which has had a negative impact on the demand for potassium as fertilizer.
The global potassium nitrate market is segmented on the basis of raw material, end-use industry, and geography.
On the basis of raw materials, the ammonium nitrate segment is expected to exhibit the highest CAGR of 4.4% during the forecast period. However, the potassium chloride segment held the lion’s share in 2021, accounting for nearly three-fifths of the market, and is expected to maintain its leading position throughout the forecast period.
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Based on the end-use industry, the pharmaceutical segment is estimated to show the highest CAGR of 5.2% during the forecast period. However, the agriculture segment dominated in 2021, contributing more than a third of the market, and is expected to maintain its dominance by 2031.
The global Potassium Nitrate market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific is estimated to record the Highest CAGR 4.9% over the forecast period. Furthermore, the region held the largest share in 2021, contributing more than two-fifths of the market, and is expected to maintain its leading position from 2021 to 2031.
Global Potassium Nitrate Market report includes in-depth analysis of major market players such as Arihant Chemicals, AG Chemi Group sro, Haifa Negev technologies LTD, BGP Group of Companies, Kemapco Arab Fertilizers & Chemicals Industries LTD, Jagannath Chemicals, okchem. com, Positive Chemicals Private Limited, Migao Corporation, Sam Industries Limited, Ravi Chem Industries, SNDB, SQM SA, URALCHEM JSC and Yogi Chemical Industries.
The report analyzes these key players of the global Potassium Nitrate market. These players have adopted various strategies such as expansion, new product launches, partnerships and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments of each market player.
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