According to China Chemical News, the latest report from market research firm IndexBox projects that the Asia-Pacific potash fertilizer market will grow at a compound annual growth rate (CAGR) of 2.3% between 2024 and 2035, reaching $11.2 billion by the end of 2035.

Potash demand in the Asia-Pacific region continues to rise. In 2024, potash consumption in the region reached 24 million tons. Market projections indicate consumption will maintain steady growth over the next decade, reaching 27 million tons by the end of 2035 with a CAGR of 1%.

By country, China (13 million tons) remains the largest potash consumer in the Asia-Pacific region, accounting for 52% of the total market share with a market size of $4.2 billion. From 2013 to 2024, the average annual growth rates for consumption and market size were 7.4% and 6.1%, respectively. India (3.2 million tons) ranks second with a market size of $1.2 billion. From 2013 to 2024, the average annual growth rates for consumption and market size were 1% and 0.5%, respectively. Indonesia (2.5 million tons) ranks third, accounting for 10% of the total market share. From 2013 to 2024, the average annual growth rates for consumption and market size are projected to be 0.9% and -1.2%, respectively.

By product type, potassium chloride (24 million tons) is the most consumed potash fertilizer in the Asia-Pacific region, accounting for approximately 98% of total consumption with a market size of $8.4 billion. The average annual growth rates for consumption and market size from 2013 to 2024 are 3.1% and 2.1%, respectively. Potassium sulfate (498,000 tons) accounts for 2% of total consumption, with a market size of US$299 million.

As an integrated internet platform providing benchmark prices, on November 13, the benchmark price of potassium carbonate on SunSirs was 7,800.00 RMB/ton, a decrease of 0.32% compared with the beginning of the month (7,825.00 RMB /ton).

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