Potassium Dihydrogen Phosphate Market - Regional Analysis
APAC Market Insights
Asia Pacific industry is set to hold largest revenue share of 42% by 2035. The main factor boosting the market revenue share in the Asia Pacific region is the expansion and intensification of agriculture. The Asia Pacific region is home to some of the world's most populous countries with substantial agricultural sectors like China, and India. As of 2021, the total arable land in Asia reached over 580 million hectares, reflecting the vast scope for agricultural activities.
Potassium dihydrogen phosphate is extensively used as a fertilizer in agriculture, contributing to improved crop yields and quality. The expansion of arable land and the adoption of intensive farming practices to meet the increasing food demand in the region drive the demand for potassium dihydrogen phosphate as a crucial component in modern agricultural practices.
North American Market Insights
The potassium dihydrogen phosphate market in the North American region is projected to hold the second-largest share during the projected period with a hold of around 24% of the market share. This advancement will be noticed due to the region’s inclination towards specialty crops. North America has witnessed a surge in the demand for specialty crops, including fruits, vegetables, and nuts.
Over the past ten years, specialty crop sales in the United States have increased by 18%, and it is anticipated that soilless substrate use will rise by more than 400% globally. Specialty crops often require specific nutrient management for optimal growth and quality. Potassium dihydrogen phosphate, with its role in providing essential phosphorus and potassium, becomes instrumental in supporting the cultivation of specialty crops. The expanding market for specialty crops contributes to the increased demand for potassium dihydrogen phosphate in North America.
