Global Potash Ore Market – Overview
Potash has been used in a magnitude of applications since its discovery. Its consumption is currently very popular in the fertilizers industry. Market Research Future, a firm which specializes in market reports related to the chemicals & materials sector among others, published in its recent report on Global Potash Ore Market Research Report- Forecast to 2027, that the sector is set to develop at an encouraging CAGR % while achieving respectable growth in terms of revenue generated. The global potash ore market has seen prospective growth previously and is anticipated to rise as the growth of fertilizer industry fuels further growth of the sector.
Use of potash in the fertilizers sector is very high and it is one of the major drivers for demand growth of the potash segment. Potash is very essential to promoting robust growth of plants and crops, which is the major reason behind it deriving more than half of its total demand from the agricultural sector. Increased consumer focus on foods or produce grown by organic ways has driven growth of this sector to new levels. Increase in the level of crop productions has increased the scope of development of the sector. Potash also has several applications such as in making soap, for dyeing fabrics, glass production etc. Chemical industry also has amplified demand for potash in its processes, which makes it a part of the potash user demographic.
Potash was earlier derived as a byproduct of leaching tree ashes in metal pots. It is now derived from underground mines by way of mining. Renewed interest in the potash ore market has led to the commencement of R &D activities on bio fertilizers that are expected to further boost demand for the potash ore industry. On the other hand, health issues arising out of potash fertilizer consumption and fluctuating prices of potash can relatively slow down the growth pace of the industry.
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Latest Industry Updates:
June 2017 BHP, the world’s largest mining company by market capitalization, is considering to grow its potash business to the size of its iron ore division, under “certain circumstances”. BHP is currently developing its Jansen potash mine in Canada, which would be the company’s biggest single investment ever as BHP believes demand for potash could double by the late 2040s, by which point it would be a $50 billion market.
Nov 2017 Kore Potash PLC is now the official owner of the Kore subsidiary structure which holds the Kola and Dougou potash assets in the Republic of Congo. Kola is known to contain around a billion tonnes of potash ore combined in the measured, indicated and inferred categories.
June 2017 Denver-based Michigan Potash Co. LLC, has proposed a $700 million potash extraction and processing operation to tap into a deep underground potash deposit near Hersey.
June 2017 Canada’s Potash Corp. of Saskatchewan, the world’s largest producer of the fertilizer by capacity, will change its name to Nutrien once it completes a merger with smaller rival Agrium. The deal, expected to close before year-end, will create the world’s largest potash miner worth about $36 billion, including debt.
March 2017 BC Iron has pushed ahead with plans to expand outside of its iron ore interest, cutting a deal with newly listed Kalium Lakes to farm into a potash project 220km north east of Wiluna. BCI will spend up to $10.5 million on exploration and feasibility studies to earn up to a half-stake in Kalium’s Carnegie sulphate of potash project.
Global Potash Ore Market – Competitive Analysis
With the entry of new industry players in the potash ore segment, a trend of solid, volume-driven growth has been observed in the market with the addition of new and advanced products and treatment methods. Companies are aiming to capture & solidify their share of the market segment, by competing and experimenting with various advantage points. The best long-term growth opportunities for this sector can be captured by ensuring ongoing process improvements and financial flexibility to invest in the optimal strategies.
The existing and prominent key players present in the Global Potash Ores Market include EuroChem, Intrepid Potash, Uralkali, Mining Associates, Agrium Inc., JSC Belaruskali, , K+S GmbH, Israel Chemicals Ltd.Some of the other important players are Elementals Minerals Limited, PotashCorp, Uralkali, Encanto Potash Corp., BHP Billiton Ltd. and among others.
Global Potash Ore Market – Segments
The global potash ores market is segmented on the basis of applications and mineral extracted.
On The Basis Of Mineral Extracted: Sodium Chloride, Potassium Chloride and Others.
On The Basis Of Application: Agriculture Industry, Chemical Industry, Metallurgical Industry and Others.
On The Basis Of Region: North America, Europe, Asia Pacific and ROW.
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Global Potash Ore Market – Regional Analysis
The global potash ore market is segmented into North America, Europe, APAC, and Rest of the World (RoW). Geographically, North America is considered as the largest market for potash ore, followed by Canada. By 2011, Canada had a production capacity of 11.2 million tones. Potash ore is a major fertilizer in agriculture, therefore it has high demand in the European countries such as United Kingdom, France, Germany, Switzerland and others, where the available arable land is more as compared to other regions. However, this factor has boosted growth of the European market. As of now, China and India are the world’s largest consumer of potash ores due to the large arable lands, huge population growth, and large levels of population who are dependent on agriculture.
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