By 2017 the global market for industrial and caustic potash is forecast to reach 33 million metric tons. Market growth will be driven predominantly by the increasing demand for fertilizers, which forms the key end use segment for industrial and caustic potash.
Potash is the common name for various mined and manufactured salts that contain potassium in water-soluble form. In some rare cases, potash can be formed with traces of organic materials such as plant remains, and this was the major historical source for it before the industrial era.
Presently, a limited number of 14 countries are engaged in potash production, with Canada, Russia, Germany, and Belarus accounting for a majority share of the total world production. The global potash production is growing at a steady rate of 2-3% annually. Potash consumption is concentrated in Asia-Pacific, the US, and Europe, as these three regions jointly account for a lion's share of worldwide potash fertilizer demand.
Asia-Pacific, driven by the high paced growth from emerging markets, such as China and India, represents the largest region within the industrial and caustic potash market. China and India are expected to account for a major proportion of this growth. Asia is the world's largest consumer of potash and the region is showing significant signs of intensifying production plants.
Europe and the US follow as the next largest regions for the industrial and caustic potash market, with Europe signifying one of the largest and mature markets for caustic potash. Germany, one of the major markets, possesses reserves for the next 20 years of production. Mines in Spain and UK have the potential to distribute potash for the next 6-8 years, while mines in France are exhausted.
For more information on the industrial and caustic potash market, see the latest research: Industrial and Caustic Potash Market Report
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