According to the latest report by IMARC Group, titled “Potassium Nitrate Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global potassium nitrate market reached a value of US$ 1.61 Billion in 2020. Looking forward, IMARC Group expects the market to reach a value of US$1.95 Billion by 2026. Potassium nitrate (KNO3) is a crystalline ionic salt that is white to gray in color. Also known as niter or saltpeter, potassium nitrate is naturally found in its pure form and can be commercially prepared by combining sodium nitrate and potassium chloride. It is non-combustible, slightly soluble in nature and a strong oxidizing agent. Due to this, it can be utilized as an oxidizing agent that explodes on reaction with organic compounds. As a result, potassium nitrate is used across the pharmaceutical, agriculture, and food industries. It also finds extensive application in the manufacturing of industrial explosives, gunpowder, fireworks, and rocket propellent.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Global Potassium Nitrate Market Trends:
Potassium nitrate is widely used as a fertilizer additive in the agriculture sector. It increases stress resistance, improves pasture quality and boosts the growth of plants. As governments of several developing countries are providing subsidies to farmers for buying fertilizers, it has increased the consumption of potassium nitrate across these regions. Potassium nitrate is also utilized to prepare corned beef and preserve meat items, such as beef, ham and salami. Furthermore, the rising concerns regarding the depletion of exhaustible resources have resulted in the use of sustainable resources for energy production, like concentrated solar power (CSP) plants. Since potassium nitrate acts as a vital thermal energy storage medium in these plants, their growing adoption is providing a positive impact on the market growth.
Potassium Nitrate Market 2021-2026 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the global potassium nitrate market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Haifa Chemicals Ltd.
- Migao Corporation
- Arab Potash Company
Key Market Segmentation:
The report has segmented the global potassium nitrate market on the basis of raw material, end-use and region.
Breakup by Raw Material:
- Potassium Chloride
- Ammonium Nitrate
- Sodium Nitrate
Breakup by End-Use:
- Agriculture Industry
- General Industries
- Pharmaceutical Industry
- Food Industry
Breakup by Region:
- Asia Pacific
- North America
- Middle East and Africa
- Latin America
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Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Industry Trends
- Market Drivers and Success Factors
- The Impact of COVID-19 on the Global Market
- Value Chain Analysis
- Structure of the Global Market
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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