Potash Ores Market Continues To Witness High Growth With Uralkali Entering Into A Supply Contract With The Government Of India For The Supply Of Potash


Potash ores are raw materials that are utilized for manufacturing fertilizers, potash, and other artificial chemicals. It generally contains potassium chloride (chloride) in the first stage, boron (calcium chloride) in the second stage, silica (silicic acid) in the third stage, and calcium fluoride (calcium sulfate) in the last stage. One of the major reasons behind high demand for potash ores is high production of fertilizers in the agriculture sector. Over the years, the agriculture sector in both developed and emerging economies have witnessed massive growth. As per the India Brand Equity Foundation (IBEF), in FY 20, Indian agriculture, forestry, and the fishing sector were valued at US$ 276.37 billion. Besides, as per the Food and Agriculture Organization of United Nations, fertilizer demand was valued at 186.07 million tons in 2016 and is expected to reach 201.66 million tons by 2020 worldwide. Hence, such factors can augment growth of the potash ores market.

Another key application of potash ores is in wastewater treatment. The demand for wastewater treatment plants has increased over the years with significant investment in treatment plants. Recently, in July 2019, Suez, a French utility company, received a contract of US$ 161.4 million from the Government of India to build and operate a wastewater treatment plant in New Delhi, India. Hence, these factors can stimulate growth of the potash ores market. Recently, in May 2020, Uralkali, a Russian potash producer, entered into a supply contract with the Government of India for the supply of potash.

There are two different types of potash deposits. The first type of potash deposits is clay-based. Potash that is derived from these clay potash deposits contains high levels of potassium ions (ions that have a positive charge). However, there is a very low concentration of sodium ions (ions that have a negative charge). Thus this kind of potash deposits is generally salty in nature. As far as regional impact is concerned, North America seems to be gaining major traction in the potash ores market. This is owing to rising consumption of potash ores in chemicals, agriculture, and metallurgical sector. Furthermore, Asia Pacific is another major region registering promising signs due to rapid urbanization.

There are a number of advantages of using these salts as fertilizers. Potash can be recovered easily from any acidic body matter including salt, sulfur, rock salts, blood, etc. Moreover, it is non-toxic, biodegradable, and renewable. It also contains calcium and magnesium ions that are helpful for the development of the human body as well as other living organisms. Regardless of these advantageous points, fluctuation in potassium chloride prices remains one of the major hurdles of market development. Besides, stringent regulatory norms on product approvals and concerns regarding excessive use of fertilizers, which leads to pollution can potentially impede growth of the potash ores market in the near future.

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