Global Potassium Sulfate Market Anticipated To Grow At About 5.7% CAGR During Forecast Period

As per the researchers at Zion Market Research, the valuation of the global potassium sulfate market was around US$ 4,216.37 million in 2019 and is anticipated to expand at about 5.7% CAGR during the forecast period from 2020to 2026. The leading players in the global potassium sulfate market consist of China Ching Shiang Chemical Co. Ltd., SESODA Corporation, The Mosaic Company, and SDIC Xinjiang Luobupo Potash Company Limited, among others.

Rising Potassium Sulfate Usage In End-Use Industries Projected To Drive Global Market Growth

The growth of the global potassium sulfate market is anticipated to be driven considerably during the forecast period owing to several factors. This includes the rising potassium sulfate use in a number of end-use industries comprising food, pharmaceutical, cosmetics, and others. also, potassium sulfate is utilized as a type of weighting agent in glass production, oil & gas industry, as well as in soda blasting as a substitute for sodium bicarbonate. Potassium sulfate usage has obtained GRAS rating and authorization by FDA as nutrient supplements in the food industry, further fueling the expansion of the global potassium sulfate market. In addition, swift economic development with a flourishing manufacturing sector is projected to propel the potassium sulfate market growth in the years to come. Nevertheless, several health issues related to the augmented intake of potassium sulfate like vomiting, nausea, sore throat, diarrhea, and more are projected to hamper the market growth in the upcoming period.

Agriculture Segment, Based On Application, Expected To Lead The Global Market

The global potassium sulfate market is bifurcated based on process, end-user industries, and region. based on process, the global market is divided into brine processing, sulfate salts reaction, Mannheim process, and others. on the basis of end-user industries, the global potassium sulfate market is categorized into industrial, agriculture, cosmetics, pharmaceutical, food, and others. Among these, the market was dominated by the agricultural segment in 2018. This segmental growth can be credited to factors such as the rise in potassium sulfate requirement as fertilizer within the agriculture industry as a result of the augmenting food demand.

Asia Pacific Region Expected To Govern The Global Market During The Forecast Period

Regionally, in terms of revenue, the global potassium sulfate market is projected to be governed by Asia Pacific during the forecast period. This regional expansion can be credited to the rising need from cosmetic & glass industries along with the existence of top potassium sulfate producers in Asia Pacific. Further, the rising spending by government for improvement of agriculture sector in nations like China and India is anticipated to fuel the regional market growth in the years to come. Also, Europe and North America regions are estimated to witness a considerable growth rate. The growth of Europe potassium sulfate market can be attributed to the rising requirement from the food and beverage industry. Moreover, the markets in the Middle East & Africa and Latin America are anticipated to observe modest expansion during the forecast period.

Browse the full “Global Potassium Sulfate Market - By Process (Mannheim Process, Sulfate Salts Reaction, Brine Processing, and Others); By End-User Industries (Agriculture, Industrial, Pharmaceutical, Cosmetics, Food, and Others) - Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 – 2026.” Report at https://www.zionmarketresearch.com/report/potassium-sulphate-market

The global potassium sulfate market is segmented as follows:

By Process

• Mannheim Process
• Sulfate Salts Reaction
• Brine Processing
• Others

By End-User Industries

• Agriculture
• Industrial
• Pharmaceutical
• Cosmetics
• Food
• Others

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

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