LONDON--(BUSINESS WIRE)--Technavio has announced the top five leading vendors in their recent global potassium nitrate market report until 2021. This research report also lists five other prominent vendors that are expected to impact the market during the forecast period.
The research study by Technavio on the global potassium nitrate market for 2017-2021 provides a detailed industry analysis based on the end-users (agriculture, general industries, the pharmaceutical industry, and food industry) and geography (APAC, Europe, North America, and ROW).
“The global potassium nitrate market is projected to grow to more than 3500 kilotons by 2021, at a CAGR of over 4% through the forecast period. Various governments currently provide subsidies for sales of fertilizers including those containing potassium nitrate, which is acting as a key factor boosting the sales of the product,” says Ajay Adikari, a lead analyst at Technavio for research on specialty chemicals.
Competitive vendor landscape
The global potassium nitrate market is characterized by highly competitive large and small vendors such as Haifa, Migao, SQM, URALCHEM, and Yara International. Depending on different regions and according to the demand of potassium nitrate, some companies have managed to harness the manufacturing capacities to meet the growing demand. A few players have also driven down the market prices, forcing their competitors to follow suit in order to remain competitive in the market. Also, the global potassium nitrate market is witnessing increased use in the general, pharmaceutical, and food industries.
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Top five vendors in the global potassium nitrate market
Haifa is a multinational corporation engaged in the manufacture and supply of potassium nitrate, especially plant nutrients and food phosphates. The company develops potassium nitrate and specialty plant nutrients for the agriculture industry. It is estimated that the company supplies approximately 30% of the world's demand for potassium nitrate fertilizers.
Migao is a producer of potash-based fertilizers for the Chinese agriculture market. The company leverages its patented technology to produce specialty potash fertilizers (potassium nitrate and potassium sulfate), along with co-products ammonium chloride and hydrochloric acid.
SQM provides plant nutrients, industrial chemicals, and lithium and its derivatives. It also provides iodine and its derivatives, potassium chloride, and potassium sulfate. The company has the following business segments: Specialty plant nutrients, potassium, iodine and derivatives, lithium and derivatives, industrial chemicals, and other products and services.
URALCHEM undertakes the distribution and production of mineral fertilizers. It is one of the leading producers of nitrogen and phosphate-based fertilizers. The company's business is segmented as mineral fertilizers (which includes nitrogen, phosphate, and complex fertilizers), ammonia, inorganic acids, and other chemicals products.
Yara provides industrial, environmental, and agricultural products worldwide. Some of its offerings include ammonia, nitrates, NPKs, crop nutrition solutions, and reagents and other chemicals.
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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