Sulfate of Potash (SOP) Producers and Sulfate of Potash (SOP) Market Trend
Sulfate of Potash (SOP) which is also known as potassium sulfate (K2SO4), is a premium quality nutrient for the growth of crops. It is a white, odorless solid that is a hygroscopic product, which means that it can become damp when it comes into contact with air. There is four production methods of SOP:
1. Extraction from natural mineral ores: directly extracting SOP from mineral ores containing both potassium and sulphate. This method may yield by-products, which can contribute additional revenue. Now, about 1% of global SOP production volume is produced by this method.
2. Mannheim process: 62% of global SOP production volume is derived by reacting muriate of potash (KCl) with sulphuric acid in a Mannheim furnace at temperatures above 700 °C. The final products include yielding SOP and hydrochloric acid. The cost of this method is higher than extraction from natural mineral ores.
3. Ion exchange: about 28% of global SOP production volume through ion exchange, namely that MOP is reacted with magnesium sulfate (kieserite) to produce SOP and byproduct is magnesium chloride, which can be sold in the merchant market as well.
4. Salt-water brine: this method is also based on salt-water brine. In salt production from seawater, water is evaporated in open ponds and common salt (NaCl) is crystalized and harvested. At the end of sea salt production usually large quantities of high salinity brine, so-called bittern remains. Minerals can be extracted and recovered from sea bitters and be converted into by-products, in the particular SOP. 9% of global SOP production volume is produced by this method.
The global SOP market size was 5.42 million tons in 2017, growing to 6.31 million tons in 2022, with a CAGR of 3.1% from 2017 to 2022. Driven by the high price of crops, the SOP market size is expected to grow to 7.53 million tons in 2027, with a CAGR of 3.6% from 2022 to 2027.
The global leading producers are K+S Kali, Tessenderlo Group, Compass Minerals, SQM, Yara, Rusal, JAFCCO, Haifa Group, Sesoda Corporation, SDIC Luobupo, Qingshang, Migao. The SOP is mainly used as potash fertilizer for plant nutrition. It is also can use in construction, industrial.
