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North America Potassium Nitrate Market Size, Share & Trends Analysis Report By Raw Material (Potassium Chloride, Ammonium Nitrate, and Sodium Nitrate), By End-Use, By Country and Growth Forecast, 2023 - 2030

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    Report

  • 84 Pages
  • March 2024
  • Region: North America
  • Marqual IT Solutions Pvt. Ltd (KBV Research)
  • ID: 5953462
The North America Potassium Nitrate Market would witness market growth of 3.5% CAGR during the forecast period (2023-2030). In the year 2019, the North America market's volume surged to 1,268.00 kilo tonnes, showcasing a growth of 0.8% (2019-2022).

In the Potassium Nitrate market, the availability and pricing of raw materials, particularly Ammonium Nitrate, play a critical role in shaping industry dynamics. Ammonium Nitrate serves as a primary nitrogen source in the production of Potassium Nitrate, a compound widely used in agriculture, food preservation, and industrial applications. Therefore, the US market utilized 283.88 kilo tonnes of Ammonium Nitrate in 2022.



The US market dominated the North America Potassium Nitrate Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $401.1 Million by 2030. The Canada market is exhibiting a CAGR of 5.6% during (2023 - 2030). Additionally, The Mexico market would experience a CAGR of 4.8% during (2023 - 2030).

It exhibits corrosion inhibition properties and is employed as an additive in corrosion inhibitor formulations for metal protection. It helps prevent corrosion by forming a protective film on metal surfaces, inhibiting the electrochemical reactions that lead to corrosion. Potassium nitrate-based corrosion inhibitors find applications in various industries, including automotive, aerospace, and marine, where metal components are susceptible to corrosion damage.

Furthermore, the market is characterized by dynamic trends and innovations driven by technological advancements, regulatory developments, and evolving consumer preferences. Adopting precision agriculture technologies, including drones, sensors, and data analytics, drives fertilizer application and management practices innovation. Farmers can optimize nutrient applications, minimize waste, and maximize resource efficiency by leveraging real-time data and spatial variability mapping. With its precision application capabilities and rapid nutrient uptake, it complements precision agriculture strategies, enabling growers to achieve optimal crop nutrition and yield outcomes.

In addition, many regions in Canada have soils deficient in potassium. Potassium nitrate fertilizers can help replenish potassium levels in the soil, thus improving soil health and fertility. Farmers can enhance crop growth and resilience to stressors such as drought or disease by addressing nutrient deficiencies. The implementation of precision agriculture technologies in Canada has enabled the administration of fertilizers with specific targets, such as potassium nitrate. Farmers can optimize fertilizer use, minimize waste, and maximize the effectiveness of nutrient inputs through soil testing, crop monitoring, and variable rate application. As per the data from the Government of Canada, in 2022, the whole agriculture and agri-food system generated $143.8 billion (around 7.0%) of Canada's gross domestic product (GDP). Therefore, the growing agriculture sector in North America is expected to boost the growth of the regional market.

Based on Raw Material, the market is segmented into Potassium Chloride, Ammonium Nitrate, and Sodium Nitrate. Based on End-Use, the market is segmented into Agriculture, Pharmaceutical, Food & Beverage, Glass Manufacturing, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.

List of Key Companies Profiled

  • AG CHEMI GROUP s.r.o.
  • Positive Chemicals Pvt. Ltd.
  • Arihant Chemical
  • Ravi Chem Industries
  • Jagannath Chemicals
  • SQM S.A.
  • SNDB
  • Haifa Negev technologies Ltd.
  • KEMAPCO Arab Fertilizers & Chemicals Industries Ltd. (Arab Potash Company)
  • Zhejiang Lianda Chemical Co Ltd

Market Report Segmentation

By Raw Material (Volume, Kilo Tonnes, USD Billion, 2019-2030)
  • Potassium Chloride
  • Ammonium Nitrate
  • Sodium Nitrate
By End-Use (Volume, Kilo Tonnes, USD Billion, 2019-2030)
  • Agriculture
  • Pharmaceutical
  • Food & Beverage
  • Glass Manufacturing
  • Others
By Country
  • US
  • Canada
  • Mexico
  • Rest of North America

Table of Contents

Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 North America Potassium Nitrate Market, by Raw Material
1.4.2 North America Potassium Nitrate Market, by End-Use
1.4.3 North America Potassium Nitrate Market, by Country
1.5 Methodology for the research
Chapter 2. Market at a Glance
2.1 Key Highlights
Chapter 3. Market Overview
3.1 Introduction
3.1.1 Overview
3.1.1.1 Market Composition and Scenario
3.2 Key Factors Impacting the Market
3.2.1 Market Drivers
3.2.2 Market Restraints
3.2.3 Market Opportunities
3.2.4 Market Challenges
3.3 Porter’s Five Forces Analysis
Chapter 4. North America Potassium Nitrate Market by Raw Material
4.1 North America Potassium Chloride Market by Country
4.2 North America Ammonium Nitrate Market by Country
4.3 North America Sodium Nitrate Market by Country
Chapter 5. North America Potassium Nitrate Market by End-Use
5.1 North America Agriculture Market by Country
5.2 North America Pharmaceutical Market by Country
5.3 North America Food & Beverage Market by Country
5.4 North America Glass Manufacturing Market by Country
5.5 North America Others Market by Country
Chapter 6. North America Potassium Nitrate Market by Country
6.1 US Potassium Nitrate Market
6.1.1 US Potassium Nitrate Market by Raw Material
6.1.2 US Potassium Nitrate Market by End-Use
6.2 Canada Potassium Nitrate Market
6.2.1 Canada Potassium Nitrate Market by Raw Material
6.2.2 Canada Potassium Nitrate Market by End-Use
6.3 Mexico Potassium Nitrate Market
6.3.1 Mexico Potassium Nitrate Market by Raw Material
6.3.2 Mexico Potassium Nitrate Market by End-Use
6.4 Rest of North America Potassium Nitrate Market
6.4.1 Rest of North America Potassium Nitrate Market by Raw Material
6.4.2 Rest of North America Potassium Nitrate Market by End-Use
Chapter 7. Company Profiles
7.1 AG CHEMI GROUP s r. o.
7.1.1 Company Overview
7.1.2 SWOT Analysis
7.2 Positive Chemicals Pvt. Ltd.
7.2.1 Company Overview
7.3 Arihant Chemical
7.3.1 Company Overview
7.4 Ravi Chem Industries
7.4.1 Company Overview
7.5 Jagannath Chemicals
7.5.1 Company Overview
7.6 SQM S.A.
7.6.1 Company Overview
7.6.2 Financial Analysis
7.6.3 Segmental and Regional Analysis
7.7 SNDB
7.7.1 Company Overview
7.8 Haifa Negev technologies Ltd.
7.8.1 Company Overview
7.9 KEMAPCO Arab Fertilizers & Chemicals Industries Ltd. (Arab Potash Company)
7.9.1 Company Overview
7.9.2 Financial Analysis
7.9.3 Segmental and Regional Analysis
7.10. Zhejiang Lianda Chemical Co Ltd
7.10.1 Company Overview

Companies Mentioned

  • AG CHEMI GROUP s.r.o.
  • Positive Chemicals Pvt. Ltd.
  • Arihant Chemical
  • Ravi Chem Industries
  • Jagannath Chemicals
  • SQM S.A.
  • SNDB
  • Haifa Negev technologies Ltd.
  • KEMAPCO Arab Fertilizers & Chemicals Industries Ltd. (Arab Potash Company)
  • Zhejiang Lianda Chemical Co Ltd

Methodology

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