Potash Global Markets and Trends

Potash is a potassium-rich salt that is mined from underground deposits Potassium is an essential element for all plant, animal and human life and potash is the most common way to apply potassium to plants. 87% of global potassium resources are used for agricultural fertilizers and 17% for the industry.

The global potash market size was 60 million tons in 2016 and elevated to 71 million tons in 2021, with a CAGR of 3.5%. With increasing global food demand, higher food prices and strong planting, the demand for potash will continue to grow steadily. The global market size of potash is expected to reach 85 million tons in 2026, with a CAGR of 3.6% from 2021 to 2026 .

Global potassium resources are divided into two categories: solid potassium resources and liquid potassium resources. 2020 global proven potassium reserves are greater than 3.7 billion tons (equivalent to K2O, excluding Dead Sea resources).

The main potash products include potassium chloride (MOP), potassium sulfate, potassium nitrate, potassium dihydrogen phosphate and potassium magnesium sulfate. MOP plays a leading role in agricultural production due to its high potassium content and relatively low price. Fruits and vegetables, corn and soybeans account for the largest share of downstream demand, at 19.6%, 14.5% and 12.3%, respectively.