Complex Fertilizers - Global Market Outlook (2017-2026)
According to Stratistics MRC, the Global Complex Fertilizers market is expected to grow from $36.59 billion in 2017 to reach $72.58 billion by 2026 with a CAGR of 7.9%. Increasing demand for greenhouse production, rising crop demand for animal feed and rising awareness about soil profile & nutritional balance and increasing markets for fruits & vegetables are some of the key factors propelling the market growth. However, factors such as fluctuations in raw material prices, unfavorable regulatory stance and depressed commodity prices & lower farm incomes are hindering the growth of the market.
Complex fertilizers include unstable ratios of two or three macronutrients required by plants. Their function simplifies the mission of balancing soil nutrients and boosts yields. Complex fertilizers provide crops through essential nutrients in a form favorable for plant nutrition, assuring peak efficiency in a variety of climatic conditions. They offer a wider variety of options and can be customized to satisfy demand in accordance with specific soil compositions. Most important complex fertilizers are Nitro phosphates & polyphosphate based fertilizers.
Based on Type, an incomplete complex fertilizer has a considerable growth in the market due to increasing awareness on multi nutrient complex fertilizers in the soil. Incomplete fertilizers are usually used to overcome specific nutrient deficiencies in the soil. Incomplete complex fertilizer such as diammonium phosphate and monoammonium phosphate are the most commonly used around the globe. They are less expensive than complete fertilizers and require more skill to use properly.
Asia Pacific region is the largest consumer of complex fertilizers. The region is mainly dominated by significant operations, through a planned distribution chain. Asia Pacific largely consists of marginal farmers practicing conventional farming methods. Moreover, South America is expected to grow at the highest CAGR during the forecast period, the growth is due to rising awareness about the modern agricultural practices in this region.
Some of the key players in the Complex fertilizers Market are Yara International ASA, Ocp S.A, Eurochem Group AG, Helena Chemical Company, CF Industries Holdings, Inc, Sociedad Química Y Minera De Chile SA, Haifa Chemicals Ltd., Coromandel International Ltd., J.R. Simplot Company, Gujarat State Fertilizers & Chemicals, Potash Corporation of Saskatchewan Inc., Hebei Monband Water Soluble Fertilizer Co., Ltd., Azomures, The Mosaic Company, Agrium Inc., Kugler Company, Israel Chemicals Limited and Phosagro.
Crop Types Covered:
• Fruits & vegetables
• Other Crop Types
Complex Fertilizers Types Covered:
• Complete Complex Fertilizers
• Incomplete Complex Fertilizers
- North America
- Rest of Europe
- Asia Pacific
- New Zealand
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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