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Potassium Nitrate Price Trend and Forecast

Regional Price Overview

Get the latest insights on price movement and trend analysis of Potassium Nitrate in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Potassium Nitrate Price Trend for the October - December of 2023

Asia

Since the industrial production of potassium nitrate is greatly dependent on its feedstock compounds sodium nitrate and potassium chloride, the variations and market dynamics of both these compounds are also reflected in the potassium nitrate market trend. The costs and availability of both these raw materials determine the upstream production outlook for potassium nitrate.

Potassium Nitrate Price Trends and Forecast

During the given time period of Q4’23, the potassium nitrate price index exhibited borderline optimism, especially for the Chinese market. The Indian market on the other hand was relatively low swinging. These market trend were majorly directed by the market demands from the downstream fertilizer and explosives sectors. Overall, varying market trend were witnessed.

Europe

The European potassium nitrate market was observed to be showcasing borderline stability during the said period of the fourth quarter of 2023. The region’s fertilizer market has been struggling since the Russia and Ukraine war, as both these countries accounted for a majority of the fertilizer exports. However, during the given timeline the supply situation improved a lot and overtook the market demands resulting in a few upward peaks as well in the price graph.

North America

The North American potassium nitrate market closely mimicked its European counterpart during the said period. Belarus’s fertilizer exports negatively affected the domestic prices for most of the previous quarters. However, the supply and demand curve were largely found to be stable during this time. Overall, mixed market sentiments were observed.

Analyst Insight

According to Procurement Resource, the Potassium Nitrate market projections look positive for the coming months. With some reverse fluctuations, prices are anticipated to grow in the coming quarter.

Potassium Nitrate Price Trend for the July-September of 2023

Asia

The first half of the third quarter commenced with the decline in the potassium nitrate price trend. The market dynamics of potassium nitrate were adversely affected by the underperformance of the downstream industries and the sliding interest of the consumer sector amid the weak condition of the Asian economy. In addition to this, the interest of overseas industries in the potassium nitrate sector additionally failed to support the potassium nitrate price momentum. The agriculture and fertilizer sector, on the other hand, showcased signs of improvement that helped the potassium nitrate price graph in the later stage of the third quarter.

Europe

The contraction in the potassium nitrate price graph during the third quarter of 2023 was a consequence of limited procurement from the fertilizer sector during the initial phase. This reduced demand for potassium nitrate fell short in view of the excess influx of the product as, despite the weak sentiments of the market, rates of production rose gradually. However, as the quarter progressed, the downstream industries caught up with the speed of industrial development of the European countries, giving the potassium nitrate price trend a boost.

North America

The potassium nitrate price trend declined throughout the third quarter of 2023, with only minimal recovery during the end phase. The potassium nitrate market in North America suffered from an excess of inventories and a poor outlook on consumer confidence. Among the downstream industries, the agriculture and fertilizers sector experienced a significant shrink that, in turn, negatively affected potassium nitrate prices.

Analyst Insight

According to Procurement Resource, the price trend of Potassium Nitrate are estimated to continue their southward trend as the interest of downstream industries does not seem to improve in the upcoming months.

Potassium Nitrate Price Trend for the First Half of 2023

Asia

The water-soluble fertilizers sector is one of the major employers of potassium nitrate, and thus, its prices and growth trajectory are also dictated by it. In the first quarter, the domestic Asian market of potassium nitrate suffered from excess supply and low support from the downstream sector.

The feedstock cost also failed to push the price trend in a positive direction. This trend of decline in the prices continued in the second quarter, too, as the number of bulk purchases fell significantly, hampering the potassium nitrate price trend. The market suffered from lower export numbers, recession-like conditions, and low rainfall, which eventually led to a fall in the prices of potassium nitrate.

Europe

The low cost of natural gas, the effects of the US banking crisis, and frequent price cuts by traders due to limited offtakes by the downstream industries were the major causes of the decline in the price trend of potassium nitrate in the first quarter. In the second quarter, the prices kept moving southwards as this path was supported by the ongoing Russia-Ukraine crisis and global slowdown in the economy. Further, extreme level rainfall and poor weather conditions affected the agriculture sector negatively, leading to the decline in the price trend of potassium nitrate.

North America

The demand for potassium nitrate in the domestic and international industries fell significantly in the first two quarters of 2023, which was the most prominent cause of the decline in its prices. The consumers were reluctant to place bulk orders as the shadows of recession and rising rates of inflation loomed over the potassium nitrate market in North America. The economy of the region took a drastic turn after the failure of two major banks, which led to the contraction in manufacturing activities and the appetite of consumers, causing the price trend of potassium nitrate to move downwards.

Analyst Insight

According to Procurement Resource, the price trend of Potassium Nitrate is expected to decline in the upcoming quarters as the demand from the downstream sectors is negatively influenced by the weak performance of the global economy.

Procurement Resource provides latest prices of Potassium Nitrate. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.

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About

Potassium nitrate is a white solid formed by the fractional crystallization of sodium nitrate and potassium chloride solutions. It is non-deliquescent in nature and soluble in water. It is used as a desensitizing agent, making gunpowder, fertilizers, and nitric acid.

Product Details

Report Features Details
Product Name Potassium Nitrate
Industrial Uses Fertilisers, explosives, medicine, toothpaste, preservative
Chemical Formula KNO3
HS Number 28342100
CAS Number 7757-79-1
Synonyms Saltpetre, nitre
Molecular Weight 101.1032 g/mol
Supplier Database Haifa Chemicals Ltd, Migao Corporation, SQM S.A., Uralchem JSC, Yara North America, Inc.
Region/Countries Covered Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea, Iraq, Saudi Arabia, Malaysia, Nepal, Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore, Oman, Kuwait, Qatar, Australia, and New Zealand

Europe: Germany, France, United Kingdom, Italy,  Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece

North America: United States and Canada

Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru

Africa: South Africa, Nigeria, Egypt, Algeria, Morocco
Currency US$ (Data can also be provided in local currency)
Supplier Database Availability Yes
Customization Scope The report can be customized as per the requirements of  the customer
Post-Sale Analyst Support 360-degree analyst support after report delivery


Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.

Production Processes

Potassium nitrate is obtained by the double decomposition of potassium chloride and sodium nitrate. Solid potassium chloride is added to the reactor containing sodium nitrate hot solution, cooling the solution and producing potassium nitrate.

Methodology

The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e. government agencies, external trade bodies, and industry publications).

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  • Price Across Multiple Locations
  • Market Insights
  • Download Data in Excel Format
  • Short Term Price Forecasts
  • Prices of More than 400 Commodities and Utilities

Get in Touch With Us

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UNITED STATES

Phone:+1 307 363 1045

flag
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Phone: +91 1203185500

flag
UNITED KINGDOM

Phone: +44 7537 132103

Email: sales@procurementresource.com

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