The global potassium chloride market is worth US$ 13.08 Billion as of now and is expected to reach US$ 18.10 Billion by the year 2033 at a CAGR of 3.3% between 2023 and 2033. Potassium chloride, also known as potassium salt or sylvite, comes across as a metal halide containing potassium and chlorine.

Apart from being odorless and colorless, it is easily soluble in water and does have a salt-like taste. The end-user applications include medicines, fertilizers, food processing, and likewise. The other area of application includes ‘de-icing’, which is safer for animals and plants.

Potassium chloride is the basic raw material used in the form of feedstock for several potassium compounds in soldering, welding, and casting. It’s another application is that of a coagulant in the treatment of drinking water for removing impurities.

It finds its presence as a softener in the textile industry as well. In the kitchens, it could be used as a substitute for salt. Plus, rising demand for fertilizers is expected to take the potassium chloride market by storm in the near future.

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Competitive Analysis

• Chemtrade, in November 2021, did announce that it completed sales of its specialty chemical business with Vertellus for close to US$ 155 Million, wherein the former did sell its KCl (potassium chloride), caustic pellets, and vaccine adjuvants business to the latter.
• Veolia Water Technology, in July 2020, did announce that the company would be expanding its Jordan potash fertilizer plant crystallization capacity. Veolia does supply processing facility for extracting premium potash fertilizer from brines of the Dead Sea.
• Verkhnekamsk, in December 2020, finished with skip graft sinking at the Talitsky Mine construction site.

Key Companies Profiled

• Nutrien Ltd.
• The Mosiac Company
• K+S KALI GmbH
• Israel Chemicals Ltd
• EuroChem
• Uralkali
• JSC Belaruskali
• SQM S.A.
• Intrepid Potash, Inc.
• Arab Potash Company

What does the Report state?

• The research study is based on grade (agricultural grade and chemical/industrial grade), by crop (oilseeds, cereals, sugar and fiber, and fruits & vegetables), and by application (de-icer, agriculture, water softeners, and industrial).
• Being colorless (or occasionally white), potassium chloride proves to be an ideal choice for agriculture. This factor is expected to take the potassium chloride market by storm in the years to come.