The North America potassium nitrate market grew at a CAGR of 3.8% during 2014-2019. Potassium nitrate (KNO3), also known as niter or saltpeter, is a chemical compound that occurs as a dirty gray to white crystalline solid. It is a water-soluble, noncombustible compound, which can accelerate the burning of other combustible materials when used in large quantities. Potassium nitrate is mostly used as a constituent for various purposes, such as rocket propellers, food preservatives, tree stump removals, fertilizers and fireworks. Other than these, it is actively used as an ingredient in toothpaste to provide protection against painful sensitivity caused by acids, sweets and cold. In the form of fertilizer, potassium nitrate helps in increasing yields and improving the quality of field crops, vegetables, and flowers.
The North America potassium nitrate market is currently driven by several factors. Potassium nitrate also provides essential salts for plant development and normal functioning of plant tissues. Thus, there has been a rise in the demand for this chemical compound in the agriculture industry across the region. In addition to this, potassium nitrate salt is often utilized as a food preservative or additive for curing the meat and preserving its pink color. Apart from this, on account of its various beneficial properties, such as oxidizing ability, easy availability and desensitizing tendency, potassium nitrate salt is largely used across numerous industries in the region. Looking forward, IMARC Group expects the North America potassium nitrate market to exhibit moderate growth during 2020-2025.
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