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The global potassium nitrate market reached a value of US$ 1.61 Billion in 2020. Looking forward, IMARC Group expects the market to reach a value of US$1.95 Billion by 2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end-use industries. These insights are included in the report as a major market contributor.
Potassium nitrate (KNO3) is a white to grey ionic salt which is found in nature as saltpetre or nitre. This crystalline solid is non-combustible and slightly soluble in water, however, its solubility increases with temperature. Potassium nitrate is a strong oxidizing agent which can explode on reaction with other organic compounds. Owing to its beneficial properties, potassium nitrate is used as a constituent of fertilizers, fireworks, rocket propellants, gunpowder and medicines. It is also used in toothpastes as it provides protection against teeth sensitivity.
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.
IMARC Group provides an analysis of the key trends in each sub-segment of the global potassium nitrate market, along with forecasts at the global and regional level from 2021-2026. Our report has categorized the market based on raw material and end-use.
Breakup by Raw Material:
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.
Breakup by End-Use:
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.
Breakup by Region:
Region-wise, the market has been segregated into North America, Asia Pacific, Europe, Middle East and Africa, and Latin America. Amongst these, Asia Pacific is the leading market, accounting for the majority of the total global market.
The competitive landscape of the market has also been examined with some of the key players being Haifa Chemicals Ltd., Migao Corporation, SQM, URALCHEM, Yara and Arab Potash Company.
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. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the potassium nitrate market in any manner.
|Base Year of the Analysis||2020|
|Segment Coverage||Raw Material, End-Use, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Companies Covered||Haifa Chemicals Ltd., Migao Corporation, SQM, URALCHEM, Yara and Arab Potash Company|
|Customization Scope||10% Free Customization|
|Report Price and Purchase Option||Single User License: US$ 2299
Five User License: US$ 3399
Corporate License: US$ 4499
|Post-Sale Analyst Support||10-12 Weeks|
|Delivery Format||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)|
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