NPK (Nitrogen, Phosphorous, and Potassium) Fertilizers - Global Market Outlook (2018-2027)
According to Stratistics MRC, the Global NPK (Nitrogen, Phosphorous, and Potassium) Fertilizers Market is accounted for $2.30 billion in 2018 and is expected to reach $3.92 billion by 2027 growing at a CAGR of 6.1% during the forecast. The factors driving the market growth are rising demand for quality of feed and food products and high growth in the emerging economies. However, the toxicity of feed grade fertilizers in ruminants is restraining the market.
NPK fertilizer is the compost including nitrogen (N), phosphorous (P) and potassium (K). It is utilized to give every one of the three basic supplements to the plants. Nitrogen is the fundamental supplement for plants to complete photosynthesis. Phosphorous is utilized for acquiring crop quality, auxiliary quality, advance root development and seed generation. Potassium is utilized to advance generally speaking development and improvement of the plant.
By application, Meat & Meat Products segment is going to have a lucrative growth during the forecast period owing to the rising demand for processed and packed meat around the world, particularly from developing countries such as India, China, and Brazil. Based on geography, Asia Pacific is having a huge demand due to the growing demand for quality processed and increasing disposable income along with rising per capita income in most countries in the region.
Some of the key players in the NPK (Nitrogen, Phosphorous, and Potassium) Fertilizers market are Aditya Birla Chemicals, Agrium Inc, Akzonobel, Alltech, Borealis Ag, Eurochem, Haifa Chemicals Ltd, Israel Chemicals Ltd, K+S Aktiengesellschaft, Petróleo Brasileiro S.A, Phosagro, Skw Stickstoffwerke Piesteritz Gmbh, The Mosaic Company, The Potash Corporation of Saskatchewan Inc and Yara International ASA.
• Chlorine-based Compound Fertilizers
• Nitro-based Compound Fertilizers
• Sulfur-based Compound Fertilizers
• Urea-based Compound Fertilizer
• Other Types
• Other Forms
• Other Livestocks
• Bakery Products
• Dairy Products
• Fruits & Vegetables
• Meat & Meat Products
• Other Applications
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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