Potassium Liquid Fertilizers Market Size, Share, Analysis, Growth Report, 2032

Potassium Liquid Fertilizers Industry Prospective:

The global potassium liquid fertilizers market size was evaluated at $2,130 million in 2023 and is slated to hit $4,560 million by the end of 2032 with a CAGR of nearly 8.83% between 2024 and 2032.

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Potassium Liquid Fertilizers Market: Overview

Potassium liquid fertilizers provide nutrients to plants when required at the initial phases of plant development. Furthermore, these chemicals are used consistently to promote their overall growth. Reportedly, plants absorb these fertilizers through roots and leaf pores. For the record, potassium liquid fertilizers are enriched with growth hormones & micronutrients and hence are utilized frequently for cultivating maize. Moreover, these chemicals act as catalysts, thereby improving the nutrient intake of plants.

Key Insights

• As per the analysis shared by our research analyst, the global potassium liquid fertilizers market is projected to expand annually at the annual growth rate of around 8.83% over the forecast timespan (2024-2032)
• In terms of revenue, the global potassium liquid fertilizers market size was evaluated at nearly $2,130 million in 2023 and is expected to reach $4,560 million by 2032.
• The global potassium liquid fertilizers market is anticipated to grow rapidly over the forecast timeline owing to a surge in the acceptance of precision farming techniques along with the need for improving crop yield.
• In terms of crop type, the cereals & grains segment is slated to register the highest CAGR over the forecast period.
• Based on mode of application, the foliar segment is predicted to lead the segmental space in the upcoming years.
• Region-wise, the North American potassium liquid fertilizers industry is projected to register the fastest CAGR during the projected timespan.

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Potassium Liquid Fertilizers Market: Growth Factors

A rise in the adoption of precision farming tools for enhancing crop output can boost the global market elevation by 2032

A surge in the acceptance of precision farming techniques along with the need for improving crop yield is likely to drive the growth of the global potassium liquid fertilizers market. Humungous demand for high-quality fertilizers is predicted to steer the global market expansion over the forecast period. Surging environmental concerns along with a swift increase in the production of green vegetables will embellish the global market trends. Apart from this, the surge in food demand has resulted in a rise in product demand, thereby steering the growth of the market across the globe.

In addition to this, liquid fertilizers are used for easy & precise application, thereby making them more effective in comparison to granular ones and this feature of potassium liquid fertilizer is likely to benefit the expansion of the global market. Moreover, potassium liquid fertilizers have the ability to penetrate the soil thoroughly along with dispersing evenly so that the fertilizers are distributed equitably among the plant. All these aforementioned factors are predicted to expand the scope of the market demand across the globe.      

Potassium Liquid Fertilizers Market: Restraints

Lesser know-how of product benefits among the farmers can obstruct the growth of the industry globally

Lack of awareness among farmers regarding the application of the product along with a surge in the product handling prices can impede the expansion of the global potassium liquid fertilizers industry. An increase in raw component costs along with the rise in labor wages can hinder the expansion of the industry across the globe. Apart from this, a surge in transport charges can prove detrimental to the expansion of the industry globally.

Potassium Liquid Fertilizers Market: Opportunities

Beneficial features of product will generate new growth avenues for the global market over 2024-2032

Favorable product features such as high control, quick action, and versatility will generate new growth avenues for the global potassium liquid fertilizers market. The escalating need for high-quality crops is predicted to help the global market explore new growth dimensions in the coming years.

Potassium Liquid Fertilizers Market: Challenges

Availability of product alternatives can challenge the global industry expansion by 2032

Easy availability of product substitutes along with huge costs of deploying & storing the product can prove to be a huge challenge for the global potassium liquid fertilizers industry expansion. Humungous energy prices have translated into high ammonia costs, thereby reducing the production and use of ammonia, thereby putting brakes on the global industry expansion.

Potassium Liquid Fertilizers Market: Segmentation

The global potassium liquid fertilizers market is divided into nutrient type, crop type, ingredient type, mode of application, and region.                                         

In crop type terms, the potassium liquid fertilizers market across the globe is segregated into cereals & grains, oilseeds & pulses, fruits & vegetables, and other segments. Furthermore, the cereals & grains segment, which acquired nearly 58% of the global market revenue in 2023, is projected to register the highest gains in the coming seven years. The expansion of the segment in the projected timeframe can be attributed to a rise in the intake of staple diets across the globe along with a surge in the demand for food grains globally. The need for more crop yield has translated into huge demand for the product, thereby further driving the segmental surge.

On the basis of mode of application, the global potassium liquid fertilizers industry is segmented into injection into the soil, starter solution, fertigation, ariel, and foliar segments. Additionally, the foliar segment, which amassed a key share of the global industry in 2023, is forecast to lead the segment in the years ahead. The segmental growth over the timeline from 2024 to 2032 can be due to the massive use of foliar as a mode of application in potassium liquid fertilizers. For the record, foliar can help in the direct absorption of potassium liquid fertilizers in plants through leaves, thereby leading to proficient nutrient delivery in plants.

Based on the nutrient type, the potassium liquid fertilizers market globally can be divided into potassium acetate, potassium citrate, potassium nitrate, potash sulfate, potassium chloride, potassium formate, and potassium carbonate segments.  

Based on the ingredient type, the global potassium liquid fertilizers industry can be separated into synthetic and organic segments.  

Potassium Liquid Fertilizers Market: Report Scope

Potassium Liquid Fertilizers Market: Regional Insights

Asia-Pacific is predicted to maintain the leading position in the global potassium liquid fertilizers market in the upcoming years

Asia-Pacific, which accounted for nearly 78% of the global potassium liquid fertilizers market proceeds in 2023, is expected to establish a leadership status in the coming decade. Additionally, the regional market expansion over the forecast timeline can be ascribed to a rise in the intake of food in the densely populated countries of Asia. The escalating need for high-quality crops is predicted to proliferate the regional market size in the upcoming years. The presence of key manufacturers in countries such as India and China will further add to the growth of the market in the region. 

North American potassium liquid fertilizers industry is slated to record the fastest CAGR in the forecast timespan. The progress of the industry in the region can be attributed to the rise in the product demand in farming activities in countries such as the U.S. and Canada. Surging acceptance of agro-based products in the agriculture sector and easy access to innovative equipment in farming can embellish the regional industry trends in the upcoming years.

Key Developments

• In the first half of 2020, Wilbur-Ellis launched two new potassium fertilizers referred to as FOLI-GRO KILO® and TILL-IT KOMPOUND™. Reportedly, these fertilizers are soluble carbon-based potassium fertilizers that boost bio-activation in the soil as well as act as foliar-applied chemicals. The move is likely to embellish the expansion of the potassium liquid fertilizers market globally.              
• In February 2024, GROSSDORF LLC, an agrochemical firm producing granular & liquid mineral fertilizers, declared of expanding its product portfolio by producing a product line for the retail sector.

Potassium Liquid Fertilizers Market: Competitive Space

The global potassium liquid fertilizers market profiles key players such as:

• Bayer AG
• Israel Chemical Ltd.
• BASF SE
• Compass Minerals
• Yara
• Syngenta Crop Protection AG
• Sociedad Química y Minera de Chile (SQM)
• ADAMA
• Sumitomo Chemicals Co. Ltd.
• Nufarm
• Nutrien Ltd.
• EuroChem Group
• The Mosaic Company
• K+S Aktiengesellschaft

The global potassium liquid fertilizers market is segmented as follows:

By Crop Type

• Cereals & Grains
• Oilseeds & Pulses
• Fruits & Vegetables
• Others

By Mode of Application

• Injection into Soil
• Starter Solution
• Fertigation
• Ariel
• Foliar

By Nutrient Type

• Potassium Acetate
• Potassium Citrate
• Potassium Nitrate
• Potash Sulfate
• Potassium Chloride
• Potassium Formate
• Potassium Carbonate

By Ingredient Type

• Synthetic
• Organic

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa