Global Muriate of Potash (MOP) market is anticipated
to grow appreciably in the forecast period of 2028 due
to growing demand of food, rising concern about the soil
degradation, growing adoption of modern
farming techniques, and favorable government policies.
The global production of muriate of potash,
surpassed 73 million metric tons in 2021, up from less than 32 million metric
tons in 2009. MOP is the main source of potassium in fertilizers. Muriate of potash, also known as potassium chloride
(KCl) is commonly use as a potassium fertilizer in agricultural activities. Muriate
of potash is composed of approximately 60-62% potassium oxide (K2O) and 40-38%
chloride (Cl). Muriate of potash is the most widely used potassium fertilizer
because of its high potassium content and relatively low cost price than other
alternative.
The potassium present in the makes muriate of
potash an essential source of potassium for plant growth. Muriate of potash is
primarily used as a fertilizer to supply potassium to plants. Potassium is a
macronutrient required by plants for various physiological processes such as
photosynthesis, enzyme activation, and water regulation. Muriate of potash helps
plant for proper plant growth, improves root development, enhances drought
tolerance, and increases resistance to bacteria, fungi, and pests. MOP also
plays a crucial role in fruit development and quality.
Muriate of potash is suitable for a wide range of
soil types, including sandy soils, loam soils, and clay soils. However, it
should be used with caution in chloride-sensitive crops or in soils with high
chloride levels, as excessive chloride can have negative effects on certain
plants. Muriate of potash can be applied to the soil through broadcasting,
banding, or fertigation through irrigation systems. The appropriate application
rate depends on the specific crop, soil conditions, and nutrient requirements.
In addition to its role as a fertilizer, muriate of
potash has several industrial applications. It is used in the manufacturing of
potassium hydroxide, potassium carbonate, and various potassium salts. It is
also used as a deicing agent for snow and ice removal on roads. Hence, the all
these fators are expected to propel the global Muriate of Potash (MOP) market
growth.
Growing Demand For Food Worldwide is a Key Factor
for the Growth of the Muriate of Potash (MOP) Market
The growing demand for food to address food
scarcity issues is indeed one of the core factors that’s driving the demand for
the global Muriate of Potash (MOP) market. Worldwide the demand for food
increases as the global population continues to grow in developing, developed,
and underdeveloped countries. According to the Food and Agriculture
Organization of the United Nations, “The high cost of healthy diets attached
with persistently high levels of income inequality around the world is expected
to put around 3 billion people to inaccessible form the healthy diets,
especially the poor peoples worldwide”. Hence, to meet this demand, government
and farmers strive to maximize crop yields and improve the country's agricultural
output. MOP is widely used for the production of potassium fertilizer as potassium
is a vital nutrient required for plant growth and development. By supplying
potassium to crops, MOP helps in enhancing agricultural productivity leading to
increased food production and lowering the food supply and demand gap.
Balanced nutrient management is essential for
optimizing crop growth and achieving high yields as potassium can be the
essential macronutrient needed for plant growth. As potassium deficiency can
negatively impact crop quality and yield, providing a concentrated source of
potassium will allow farmers to supplement the soil with this vital nutrient
and address nutrient deficiencies in agricultural systems.
In addition to quantity, the quality of food is
also a crucial factor for the consumer as it directly impacts human health.
Potassium plays a significant role in enhancing the quality and nutritional
value of crops and contributes to the development of strong plant structures,
improves fruit quality, and increases the shelf life of harvested produce.
MOP's application helps ensure that crops receive an adequate supply of
potassium leading to improved crop quality and longer post-harvest storage
potential.
Climate change and unpredictable weather patterns
pose challenges to agricultural productivity. Droughts, salinity, and other
environmental stresses can adversely affect crop growth where potassium positively
impacts the plant water regulation and stress tolerance mechanisms. By using
MOP, farmers can support plants in surviving adverse conditions, minimizing
yield losses, and increasing resilience to environmental stresses.
Furthermore, the demand for MOP extends beyond
specific regions or countries as food scarcity is a global concern. Worldwide the
farmer and researchers associated with the agricultural sector are seeking
various ways to improve MOP efficacity and lower toxicity. According to The
Observatory of Economic Complexity, the top exporters of Potassic Fertilizers in
2021 were Canada (USD 6.03 billion), Russia (USD 3.53 billion), Belarus (USD 2.63
billion), Germany (USD 1.53 billion), and Jordan (USD 1.2 billion). Subsequently,
the global demand for MOP remains robust to support agricultural systems in
diverse regions and ensure an adequate food supply for a growing population. Therefore,
all the factors mentioned above are expected to increase and drive the growth
of the global muriate of potash (MOP) market.
Growing Adoption of Modern Farming Techniques to
Increase the Demand from Muriate of Potash (MOP) Market
The rising adoption of modern farming techniques is
indeed driving the demand for the Muriate of Potash (MOP) market. Modern
farming techniques, such as intensive agriculture and high-yield farming, aim
to maximize crop production within a limited land area. These practices involve
high-density planting, improved crop varieties, and advanced irrigation
systems. To support the increased nutrient requirements of crops grown under
intensive farming, the demand for potassium fertilizers like MOP rises.
Precision agriculture utilizes technologies like
remote sensing, GPS, and data analytics to optimize farming operations. By
accurately assessing soil nutrient levels and crop needs, farmers can apply
fertilizers in a targeted and efficient manner. MOP, being a concentrated
source of potassium, is commonly used in precision agriculture to supply the
required potassium levels precisely where and when crops need it, leading to
improved nutrient utilization and yield.
CEA (Controlled Environment Agriculture) involves
growing crops in controlled environments such as greenhouses, vertical farms,
and hydroponic systems. These systems provide optimal growing conditions,
allowing farmers to achieve higher yields and better crop quality throughout
the year. MOP is often used in CEA systems to provide a readily available
source of potassium, as the controlled environments can deplete potassium
levels faster due to the absence of natural replenishment.
Hydroponics and soilless cultivation methods are
gaining popularity owing to their water-saving potential, efficient nutrient
delivery, and year-round crop production capabilities. But these systems heavily
rely on nutrient solutions to supply all the essential elements, including
potassium. MOP is commonly used in hydroponic systems to provide the necessary
potassium levels for optimal plant growth and development.
Modern farming techniques emphasize sustainable
practices that reduce environmental impact. Balanced nutrient management is a
key aspect of sustainable agriculture. MOP, when used judiciously in conjunction
with soil testing and crop nutrient requirements, helps optimize nutrient usage
and minimize nutrient losses, promoting sustainable farming practices.
Moreover, the
dissemination of knowledge about the importance of potassium in crop production
and the benefits of using MOP as a potassium source has led to increased
awareness among farmers. They will be likely a fast adoption of MOP and other
potassium fertilizers to improve their yields and crop quality as farmers
become more informed about the role of potassium in plant nutrition. Therefore,
all these factors are expected to increase the global Muriate of Potash (MOP)
market share in the forecasted period.
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Recent Developments
In 2022, EuroChem Group completed the purchase of a
controlling 51.48% share in Brazilian fertilizer distributor Fertilizantes
Heringer S.A. This acquisition will further strengthen EuroChem's production
and distribution capabilities in Brazil one of the most important crop nutrient
markets in the world.
In 2022, Israel Chemical Limited, an Israel fertilizer
company paid almost USD 33.7 million for a 2017 hazardous waste spill. The paid
amount will be used for restoring the Ashalim Stream and compensating the
public for the environmental damage. This fine will add an extra financial burden
on the company's financials.
In 2020, Verkhnekamsk Potash Co. (VPC), a part of
Acron Group, completed the skip shaft sinking at the Talitsky Mine construction
site. The completion of the skip shaft is a major milestone in the construction
of the Talitsky mine and is expected to have a production capacity of 2.5
million tonnes of potash per year.
Market Segmentation
Global Muriate of Potash
(MOP) market is
segmented based on crop and region. Based on crop, the global muriate of potash (MOP) market is
segmented into fruits & vegetables, sugar cane, maize, rice, wheat &
others. Based
on region, the global muriate of potash (MOP) market is divided into North America, Europe, Asia Pacific, South America,
Middle East & Africa.
Company Profiles
Israel Chemical Limited, Indian Potash Ltd (IPL), Agrium
Inc., The Mosaic Company, BHP Group Ltd, Arab Potash Company (APC), Uralkali
PJSC, CF Industries Holdings Inc., K+S Kali Gmbh, and Intrepid Potash Inc. are some
of the key players of global Muriate of Potash (MOP) market.