Potassium nitrate is an inorganic salt with a chemical formula of KNO3. It can be classified into two categories: potassium nitrate for industrial use and potassium nitrate for agricultural use.
1.Potassium nitrate is used in a wide variety of applications including glass manufacturing, explosives for mining and civil works, metal treatment, fireworks.
2.In agriculture, potassium nitrate is used as a water-soluble and virtually chloride-free source of nitrate-nitrogen and potassium nutrients.
In general, as a natural source of nitrate, potassium nitrate has been used as a constituent for several different purposes, including food preservatives, fertilizers, tree stump removal, rocket propellants, and fireworks.
From the perspective of China's potassium nitrate downstream consumption structure, agricultural industry accounts for a large proportion with the share of 60%, followed by glass industry and food industry with the share of 10% and 8% respectively.
Besides, according to the data from China's customs, the potassium nitrate export volume has increased rapidly from 2013 to 2017. In 2017, it has reached 134,650 tons, increasing by 148.4% from a year earlier, which was about five times more than that of 2013.
During these years, China's potassium nitrate export value has also shown a similar trend. It was 94,40 million dollars in 2017, increasing by 138.6% from 2016.