DUBLIN--(BUSINESS WIRE)--The "Potassium Nitrate Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023" report has been added to ResearchAndMarkets.com's offering.
The market value is projected to reach US$ 1.78 Billion by 2023, declining at a CAGR of 3.5% during 2018-2023.
Potassium nitrate (KNO3) is a white to grey ionic salt which is found in nature as saltpetre or nitre. This crystalline solid is non-combustible and slightly soluble in water, however, its solubility increases with temperature. Potassium nitrate is a strong oxidizing agent which can explode on reaction with other organic compounds. Owing to its beneficial properties, potassium nitrate is used as a constituent of fertilizers, fireworks, rocket propellants, gunpowder and medicines. It is also used in toothpastes as it provides protection against teeth sensitivity. The global potassium nitrate market reached a value of US$ 1.45 Billion in 2017.
The potassium nitrate market has witnessed a steady growth owing to several favourable factors. Potassium nitrate has been used to preserve food items, such as beef, salami, ham, etc., since the medieval ages. Nowadays, it is extensively used in the food industry for curing meat which represents the major demand-driver for the market growth. Moreover, potassium nitrate is used in the production of fertilizers. As governments of developing nations are offering subsidies for the sales of fertilizers among the farmers, the consumption of potassium nitrate has witnessed a surge in the agriculture segment. In addition to this, a growing demand for speciality fertilizers is further stimulating the market growth.
- Haifa Chemicals Ltd.
- Migao Corporation
- Arab Potash Company
Key Topics Covered:
2 Scope and Methodology
3 Executive Summary
5 Global Potassium Nitrate Market
6 Market Breakup by Raw Material
7 Market Breakup by End-Use
8 Market Breakup by Region
9 Imports and Exports
10 Potassium Nitrate Manufacturing Process
11 Competitive Landscape
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