Water Soluble Fertilizers Industry Report offers detailed analysis of the market over the last five years, and provides extensive market forecasts by region and key players. It covers the key technological and market trends.
The global water soluble fertilizers market was valued at USD 7.3 Billion in 2015, and is estimated to reach USD 12.4 Billion by 2025, growing over a CAGR of 5% over the forecast period. Rising government subsidies on water soluble fertilizers adoption and economic incentives on festination for reducing ground water consumption are the major drivers for the growth. Furthermore, growing applications of green house and rising demand for micro-irrigation systems are also considered to be the other factors propelling the expansion over the forecast period.
According to Food and Agriculture Organization (FAO), emerging nations including India and China requires additional 120 million hectares of arable land in order to fulfill the rising food demand by 2030. Arable lands are continuously diminishing owing to improper agricultural practices and deforestation. Efficient farm yield accompanied by sustainable benefits, maintenance of plant health and enhanced crop growth are few key trends fueling water-soluble fertilizers industry growth.
Rising consumer awareness pertaining to organic food products has been expected to support the industry growth. Moreover, limited arable lands, rising environmental concerns, and easy application are other factors spurring the water soluble fertilizers demand. Furthermore, growing demand for drip irrigation suitable for undulating terrain, rolling topography, barren lands, and shallow soil layers areas is expected to drive industry expansion over the forecast period.
Less impurities and low conductivity as compared to chemical fertilizers are few of the properties of water-soluble fertilizers, well-suited in advanced irrigation technology. Soluble fertilizers are considered as a safe chemical alternative for young seedlings and the fertilizer concentration is also easy to adjust. Although, feedstock prices volatility has been predicted to hinder growth over the forecast period. However, rising investment by key marketers for efficient fertilizers and environment-friendly development is also expected to create huge growth opportunities over the forecast period.
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Based on product type segment, the report segregates the segment and delivers the revenue, growth rate, and market share, of each type,
Nitrogenous
Potassium
Micronutrients
Phosphate
Secondary Nutrients
Potassium segment is anticipated to witness significant growth over the forecast period
Nitrogenous product segment is expected to witness growth owing to high application in oilseeds and grains. The product delivers better color and texture to plants and henceforth, drives the overall crop productivity. Potassium is estimated to witness substantial volume growth owing to the properties including water retention, and protein synthesis for healthy growth. Moreover, the product is highly soluble, improves tolerance towards frost and non-toxic to roots.
Based on application, the market has been bifurcated into:
Foliar
Fertigation
Fertigation segment is anticipated to grow at the highest rate over the forecast period
Fertigation is expected to show high gains owing to less labor cost involved and high crop productivity in the process. Fertigation process ensures the even distribution of the fertilizers and reduces the losses and wastage of fertilizers as well. Moreover, rising demand for fertigation has predicted to witness high growth for low cost involvement as compared to foliar applications. Foliar segment includes fertilizer application directly to the leaves. High effectiveness coupled with improved yield is expected to drive the demand, particularly, for micronutrients. Furthermore, rising demand for exotic flowers and fruits is anticipated to fuel the growth over the forecast period.
On the basis of crop type, the market has been segmented further, and displays growth rate and market share over the forecast period;
Field
Horticultural
Plantation
Turf
Ornamental
Field crops segment has been expected to account for largest volume share being cultivated on a large scale to encounter global food requirements. Increasing demand for field crops including rice, wheat, oilseeds, cotton, and other grains in various countries such as the U.S., India, China, and Brazil is expected to enhance the demand over the forecast period.
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Globally, the market has been segregated into North America, Europe, Asia Pacific, the Middle East and Africa and Latin America, market share¸ with revenue (Billion USD), and growth rate for the regions, from 2015 to 2025 (forecast).
North America: U.S., and Rest of North America
Europe: France, Germany, UK, and rest of Europe
Asia Pacific: China, India Japan, and Rest of Asia Pacific
Middle East & Africa: South Africa, North Africa, GCC, and Rest of MEA
Latin America: Brazil and Rest of Latin America
Europe region is predicted to grow substantially over the forecast period owing to favorable climatic conditions for crops
Asia Pacific region has been estimated to witness huge demand for water soluble fertilizers over the forecast period owing to rising agricultural output in emerging nations including India, China, Bangladesh, and Pakistan. Furthermore, rapid development of medium to small scale market participants in the region accompanied with economic growth and government support is expected to drive the market growth.
Europe is projected to be one of the largest contributors owing to the increasing use of water-soluble fertilizers through advanced agricultural techniques. Russia and Spain are predicted to be the largest country-level markets in the European region. High market penetration by the leading domestic players and rising demand for enhancing the agricultural growth and favorable climatic conditions are the key factors influencing the growth in Europe region.
The global water soluble fertilizers market is highly competitive in nature with major participants involved in continuous R&D activities and product innovation. Major players operating in the market are Agrium Inc., Israel Chemicals Limited, Potash Corp, The Mosaic Company, EuroChem, K+S AG, and Yara International ASA. Other players include Coromandel International Limited, Hebei Monband Water Soluble Fertilizer Co. Limited, Compo GmbH & Co. KG, Haifa Chemicals Limited, Sinochem Fertilizers Co., Limited, Sociedad Quimica Y Minera SA, TATA Chemicals, Qatar Fertilizer Company CF Industries Holdings Inc., and Iowa Fertilizer.
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