Global Potash Market Size and Share Outlook - Forecast Trends and Growth Analysis Report (2024-2032)

Global Potash Market Growth

In 2022, around 64.6 million tons of potash was produced worldwide. Countries like Canada, Russia, and Belarus account for around 66% of total production, with Canada being the largest producer. In 2022, Canada produced 38% of the world’s potash, and exported 21.3 million tons, accounting for 46% potash market share in exports. In 2021, total potash production in Canada surged by around 1.3 million tons and reached 24.6 million tons. Moreover, the largest reserves of potash are present in Canada (4,500 MT), Belarus (3,300 MT), and the United States (970 MT), among other countries. In 2022, Russia, Canada, and Belarus accounted for 74% of the world’s trade for potash.

As per the potash market analysis, the growth of the global agricultural sector is expected to contribute to the market growth. In 2021, the global consumption of potash fertiliser was 161.5 kg per hectare of land, which highlights the significant role of nutrients in ensuring the security of food systems worldwide. In the United States, the average consumption of potash fertiliser per hectare of arable land was 128.7 kg, which is further expected to shape the market dynamics favourably in the forecast period.

Key Trends and Developments

Global Potash Market Trends

Many industries, including the construction and automotive sectors, recycle up to 90% of their aluminium in the United States. This saves over 90 million barrels of oil for fuelling the production of aluminium anew from virgin bauxite. Besides, the US economy can save over USD 800 million of value by recycling all aluminium cans. This can lead to an increase in the potash market value in the upcoming years.

Global Potash Industry Segmentation

Global Potash Market Share

Based on region, the market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. Over the forecast period of 2024-32, the market for potash in the Asia Pacific is expected to increase at a CAGR of 5.9% due to the growth of the agricultural industry. Moreover, the potash market development is also being driven by the growth of Australia’s mining industry and the rising demand for potassium chloride.

Leading Companies in the Global Potash Market

The increasing demand for potassium-rich animal feed and potassium-based soaps is expected to boost the potash market revenue over the forecast period.

Arab Potash Company

Arab Potash Company was founded in 1956 and is headquartered in Amman, Jordan. It is the world’s 8th largest potash producer by volume and has a significant presence in Aqaba and Ghor Al Safi.

Compass Minerals International, Inc.

Compass Minerals International, Inc. was founded in 1844 and is headquartered in Kansas, United States. It is ...

BHP Group Limited

BHP Group Limited was founded in 1885 and is headquartered in Victoria, Australia. It is engaged in exploring,...

Intrepid Potash, Inc.

Intrepid Potash, Inc. was founded in 2000 and is headquartered in Colorado, United States. It is the nation's ...

*Please note that this is only a partial list; the complete list of key players is available in the full report. Additionally, the list of key players can be customized to better suit your needs.*

Other players included in the potash market report are Emmerson PLC, Uralchem Group, Nutrien Ltd., EuroChem Group, Sinofert Holdings Limited, and K+S Aktiengesellschaft, among others.