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 greyish-white, non-combustible, crystalline salt artificially composed by the fractional crystallization of sodium nitrate (NaNO3) and potassium chloride (KCI). It can also be extracted naturally in niter and saltpeter forms. Potassium nitrate exhibits excellent mechanical resistance and a high level of chemical purity. On account of these properties, it is extensively utilized in glass manufacturing, metal treatment, drug formulation, and propellant applications.
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:
With the rapid expansion in agricultural activities, there has been an increasing demand for potassium nitrate-based specialty fertilizers to improve crop quality. This, in turn, is primarily driving the market growth. Moreover, the widespread adoption of potassium nitrate across the food and beverage (F&B) sector to preserve processed meat products, such as salami, beef, and ham, is propelling the market growth. Furthermore, the increasing usage of potassium nitrate to engineer gunpowder for manufacturing grenades, rocket propellants, and bombs is supporting the market growth. Besides this, the extensive incorporation of the compound in toothpaste as a desensitizing agent is anticipated to contribute to the market growth in the coming years.
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
- SQM
- URALCHEM
- Yara
- 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
- Others
Breakup by Region:
- Asia Pacific
- Europe
- 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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