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Potassium Chloride Market Size Worth USD 25.01 Billion By 2027, Growing 4.9% CAGR | Reports and data

Reports and data

Potassium Chloride Market Size – USD 16.98 billion in 2018, Growth – CAGR 4.9%. Increased demand for potassium chloride as in fertilizer industries.

NEW YORK CITY, NY, UNITED STATES, November 27, 2021 / – Growing demand for potassium chloride in online retail, especially in emerging countries, coupled with high investment in potassium chloride R&D, is fueling market growth.

The Global Potassium Chloride Market is expected to reach $ 25.01 billion by 2027, according to a new report from Reports and Data. Potassium chloride (KCL) or potassium salt is the metal halide composition of the chemical compounds of potassium and chloride. KCL is one of the most important sources of potassium chemicals. The crystalline powder is white, odorless and highly soluble in water and comes from seawater or other surface waters containing salt. Potassium is an essential mineral for the human body and the main basis of blood cell tissue, as it helps reduce the damaging effects of salts and maintains blood pressure. Chlorine ensures the electrochemical neutrality of red blood cells. Caustic potash or potassium hydroxide is derived from KCL and one of the most important segments of the overall fertilizer market. Potassium chloride is listed as an essential drug by the World Health Organization, and the generic drug KCL is believed to be the most suitable and safe salt for the repletion of common forms of hypokalemia.

Market Snapshot:
The chemicals and materials industry produces a wide variety of products that are consumed daily by people around the world. While several products, namely detergents, perfumes, soaps and others are purchased directly by consumers, the others are used as ingredients to make many products. For example, in Europe, almost 70% of the chemicals produced are used to make other products. The industry uses a wide range of raw materials ranging from petroleum, minerals, air and others. With growing competition between industry players, innovation remains vital to discovering new avenues to meet the needs of sophisticated, demanding and environmentally conscious consumers.

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Competitiveness within the chemical industry and among chemicals, the chemical industry spends significant sums on research, especially in highly industrialized countries, which will promote the size of the market in the years to come.

Major participants include Sinofert Holdings Limited, Agrium, The Potash Corporation, Uralkali, The Mosaic Company, ICL Specialty Fertilizers, The Arab Potash Company, CF Industries Holdings, Inc., Intrepid Potash, Inc. and Belaruskali, among others.

Other key findings from the report suggest

Potassium chloride naturally preserves personal care products and cosmetics by chelating bonds. The mixture of citric acid and its salts is also added to personal care products to help adjust the acid / base ratio.

The growing penetration of online chemical and materials retail businesses, especially in emerging Asia-Pacific countries, is helping the market to grow by expanding reach into areas where supplier services out line are not available. In addition, due to the distributors not being involved in the supply chain model, the profit margin is much higher than offline retail. Online retail is expected to gain a 33.9% market share by 2027.

In January 2018, two major giants of the fertilizer industry in Canada, namely Agrium and Potash Corporation in Saskatchewan, merged into a single company, named Nutrien Ltd. Nutrien Ltd. was headquartered in Saskatchewan, Canada. The joint venture of these two giants has, in turn, made them the largest producer of fertilizers in the world.

Potassium chloride is used to treat hyperkalemia and disorders related to the kidneys, adrenal glands and others. For some open heart surgeries, KCL is injected into the heart muscles in order to stop the heartbeat, as the procedure cannot continue with the heart’s rhythmic contraction and expansion processes.

The European region is expected to experience significant growth in the overall market, with 15.6% market ownership by 2027, having increased with a CAGR of 3.4% during the forecast period. Germany and the Netherlands hold some of the most important players in this region.

North America, with its strong demand for potassium chloride in agriculture and healthcare sectors, is expected to maintain a significant position in the global market by 2027, with a CAGR of 5.3% throughout. throughout the forecast period.

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For the purpose of this report, reports and data have segmented the global Potassium Chloride market on the basis of distribution channel, form, end-use sectors and region:

Distribution Channel Outlook (Revenue, USD Billion; 2016-2027)
Online retail
Offline Retail

Outlook Form (Revenue, Billions USD; 2016-2027)

Vertical Market End-Use Outlook (Revenue, USD Billion; 2016-2027)
Fertilizer industry
Medical & Pharmaceutical
Industrial applications

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Regional outlook (revenue, billion USD; 2016-2027)
North America
Asia Pacific
Latin America

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