LONDON--(BUSINESS WIRE)--SpendEdge, a global procurement intelligence advisory firm, has announced the release of their ‘Potassium Chloride Market Procurement Research Report.’ The insights and data in this report provide a strategic analysis of the supply markets, factors influencing purchasing decisions, procurement best practices, pricing models, supplier landscape, and an analysis of the supplier capability matrix for the chemicals industry. This report breaks down the data and analysis behind the procurement of potassium chloride and acts as an all-inclusive guide for making smart purchasing decisions.
“The growing demand for fertilizers from the agricultural industry is one of the major factors driving the growth of the global potassium chloride market,” says SpendEdge procurement analyst Anil Seth. “However, the growing demand for food crops from rapidly rising populations will exert pressure on the agricultural industry to produce a better yield,” added Anil.
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Procurement analysts at SpendEdge highlight the following top three market trends that are contributing to the growth of the Global Potassium Chloride Market:
- Use of potassium chloride in hydroponics
- Substituting salt with potassium chloride
- M&A within potash industry
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Use of potassium chloride in hydroponics
Hydroponics refers to the culture of plants without soil. This method reduces the space required for plant cultivation as compared to the traditional method. The plant cultivators can leverage the use of hydroponics to grow more crops, where there is a limited availability of arable land.
Substituting salt with potassium chloride
In recent years, the intake of salt can lead to health issues such as hypertension and related cardiovascular diseases. Hence, food manufacturers are substituting the use of salt with potassium chloride to retain the qualities, such as taste. This will also help food manufacturers reduce the sodium content in their products.
M&A within potash industry
Globally, major potash producers are engaging in M&A to strengthen their product portfolios. M&A will help the suppliers reduce the cost of operation while achieving economies of scale in their operations. Also, the limited supplier base will help the buyers procure products in an agile and seamless manner.
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