(MENAFNEditorial)
Fast Market Research announces the availability of Technavio's new report "Global Potash Market 2015-2019" on their comprehensive research portal.
Potash is one of the most basic of plant nutrients along with nitrogen and phosphate. With no direct substitute potash is widely used in the production of fertilizers. The majority of potash is extracted from ancient underground evaporites. Another source is the brine from landlocked water bodies such as the Dead Sea which also accounts for a significant share. Potash is also used in the manufacture of plastics pharmaceuticals soaps and fire extinguishers.
Macroeconomic and seasonal factors play an important role in determining global agricultural output and consumption of fertilizers. Any demand-supply fluctuation coupled with the effect of taxation can impact the global market. The market has traditionally been highly oligopolistic in nature with the presence of two cartels one based at North America and the other in Europe. Developments of late have radically changed the structure of the market and the nature of competition.
Environmental regulations also play a key role in the growth of this market. Stringent environmental regulations have had an adverse effect on fertilizer manufacturers. In addition to shrinking margins vendors also have to deal with indirect substitutes.
Technavio’s analysts forecast the global potash market to grow at a CAGR of 4.05% by volume over the period 2014-2019.
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The report analyst commented "Countries such as Canada and North America are scaling up their investments in potash mining and potash-based fertilizer manufacturing plants. Other countries like Germany Jordan China and Chile are also planning expansions of existing facilities and developments of new facilities. One more striking trend is the investment by metal and mining majors in the potash market. BHP Billiton and Rio Tinto are some of the majors that have already committed significant investments in the potash market. There is also a high possibility of new cartel formation in order to challenge the market power of Canpotex and Uralkali. Governments of Asian countries are expected to give a major investment boost to the state-owned fertilizer companies and enable them to shop abroad for reserves. Fertilizer majors from Asia and South America are also expected to scale up their cross-border investments in order to gain integrated production facilities and to attain higher profit margins."
According to the report biofuels refer to liquid fuels derived from renewable sources. The most common biofuels ethanol and biodiesel are derived from crops such as corn canola sugarcane and soybeans. Rising oil prices and high economic and environmental costs associated with carbon emissions are forcing many organizations to adopt the usage of alternative energy resources such as ethanol and biodiesel. Government mandates related to compulsory blending of automobile fuel are also driving the demand for biofuels and further the demand for crops for their production. Potash fertilizers are heavily used in the production of these crops and as the demand for biofuels increases we can expect the acreage for these kind of crops to increase. This is therefore expected to positively influence the demand for potash fertilizers and their raw materials.
Further the report states that the potash market may face some challenges as concerns over the health of humans and the environment are a top priority.
The key players in the Global Potash Market are Agrium ICL Intrepid Potash K+S PotashCorp Qinghai Salt Lake and Uralkali while other prominent vendors include APC Belaruskali Sinofert Holdings SQM and Vale
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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