QYR: The Global market for Potassium Sulphate is expected to reach about 5666.94 Million USD by 2023

QYR: The Global market for Potassium Sulphate is expected to reach about 5666.94 Million USD by 2023 QYRESEARCH FOCUS ON MARKET SURVEY AND RESEARCH

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QYResearch Potassium sulphate (K2SO4, commonly referred to as sulfate of potash or SOP) is a water soluble, white and crystalline salt. Potassium sulphate is the world's most popular low-chloride fertilizer.

The main resources for potassium sulphate are found in combination with other mineral sulfates, such as magnesium, sodium and calcium. Another way of producing potassium sulphate is a combination of potassium chloride and kieserite.

Most common forms of manufacture are from potassium chloride through a synthetic reaction with sulfuric acid or sulfur dioxide.

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QYResearch According to QYResearch, The potassium sulphate industry concentration is relatively high.

The manufacturing bases are mainly concentrated in USA, Chile, China and Europe. In 2016, only twelve manufacturers’ production capacity exceeds 100,000 Tonnes, e.g. K+S Group from Germany, Tessenderlo Group from Belgium, Compass Minerals from USA, SQM from Chile, YARA from Finland, Rusal from Russia, Sesoda from Taiwan, and five Chinese producers such as Guotou Xinjiang LuoBuPo Potassium Salt, Qing Shang Chemical, Migao Group, Qinghai CITIC Guoan Technology, and AVIC International Holding.

For manufacturing process of potassium sulphate, the most important manufacturing process is mannheim process, sulfate salts reaction and brines (salt lakes) processing, respectively accounted for 51.27%, 14.25% and 31.62% in 2016. The manufacturers who adopt the brines (salt lakes) processing to produce potassium sulphate have advantages in manufacturing cost over other manufacturers who adopt the other manufacturing process. www.qyresearch.com

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The downstream demand was relatively stable in the past five years, and it will keep the growth trend in the future five years, because of it has been a must to some crops which are particularly sensitive to chlorine, such as potatoes, fruits, vegetables and tobacco. Although the price changed frequently, it is expected that the price will keep a slow downward trend in future due to excess capacity.

Globally, the global sales was 7169 K Tonnes in 2016 and it will reach to 10319 K Tonnes in 2023; at the same time, the global production value was 3788.59 Million USD in 2016 and it will be 5666.94 Million USD in 2022.

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