Latest research report on “Specialty Fertilizers Market” now available at high quality database of ReportsnReports.com with market size, share, trends, competitive and statistical analysis. An exclusive data offered in this report is collected by research and industry experts team.
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The specialty fertilizers market is projected to grow at a CAGR of 6.4% from 2020 to 2025.
The global specialty fertilizers market is estimated to be valued at USD 37.6 billion in 2020 and is projected to reach USD 51.3 billion by 2025, recording a CAGR of 6.4%. Factors such as the growing demand for high-efficiency fertilizers, the adoption of precision farming and protected agriculture, increasing environmental concerns, and rapid growth in greenhouse vegetable production are projected to drive the growth of this market.
The urea-ammonium nitrate (UAN) segment is projected to be the largest segment, by type, in the specialty fertilizers market during the forecast period.
UAN is gaining more popularity among liquid fertilizers, as it can be mixed with pesticides, herbicides, growth regulators, and other nutrients, thereby allowing farmers to reduce costs. Solutions of UAN are widely used as a source of nitrogen for plant nutrition. These solutions are extremely versatile as a source of plant nutrition. Due to its chemical properties, UAN is compatible with many other nutrients and agricultural chemicals and is frequently mixed with solutions containing phosphorus, potassium, and other essential plant nutrients.
The cereals & grains segment is projected to account for the largest market during the forecast period.
By crop type, the specialty fertilizers market is segmented into cereals & grains, oil seeds & pulses, fruits & vegetables, turf & ornamentals, and other segments. The dominance of the cereals & grains segment is attributed to the increasing consumption of liquid fertilizers for these crops, particularly in the Asian and North American countries. In addition, due to the increasing demand for crops, such as corn, wheat, rice, and sorghum, across various industries, the consumption of crop protection chemicals is projected to increase for improving the yield of these cereals. Due to these factors, the segment is projected to grow at the highest CAGR during the forecast period. Asia Pacific accounted for the largest share in the specialty fertilizers market for the cereals & grains segment, majorly due to the high production of crops, including corn, wheat, and rice, in the US, China, India, and Japan.
The coated & encapsulated segment is projected to grow at the highest CAGR during the forecast period.
By technology, the specialty fertilizers market is segmented into slow-release, N-stabilizers, coated & encapsulated, and chelated. Coated & encapsulated specialty fertilizers are conventional soluble fertilizer materials with increasingly available nutrients, which after granulation, prilling, or crystallization, are given a protective (water-insoluble) coating to control the water penetration, thereby affecting the rate of dissolution and the nutrient release. The adoption of these fertilizers is increasing in the global market, particularly in China, the US, Japan, Canada, and Western Europe, due to the growing awareness about the benefits associated with coated fertilizers and government support provided by the nation, in terms of subsidies and policy amendments. Due to these factors, the segment is projected to grow at the highest CAGR during the forecast period.
The Asia Pacific market is estimated to account for the largest market share due to the rapid adoption of advanced technologies for improving the yield of crops in the region.
According to the FAOSTAT, the Asia Pacific region contributed to more than 60% of the global population in 2017, with China and India being two of the most populous countries in the world. Hence, the increase in food demand from this region has led to a surge in the use of specialty fertilizers. The growth rate of the Japanese market is also projected to be high as compared to that of the other regions, due to the adoption of precise and advanced systems for farming, as well as controlled-environment agriculture. There are more global players in the market that are focusing on entering the Asia Pacific region through the adoption of strategies, such as mergers & acquisitions or partnerships. The Asia Pacific market is projected to grow at the highest rate due to the increase in demand from countries, such as India and China. The high cost of these fertilizers is a key factor inhibiting the growth of the Asia Pacific market.
Break-up of Primaries
- By Company Type: Tier 1- 70%, Tier 2 – 11%,and Tier 3 -19%
- By Designation: C-level -35%,Director level – 40%, and Others*-25%
- By Region: Asia Pacific -35%, South America – 15%, North America -20%, Europe -15%, Rest of the World (RoW)**-15%
*Others include sales managers, marketing managers, and product managers.
**RoW includes the Middle East and Africa.
Leading players profiled in this report
- Nutrien, Ltd. (Canada)
- Yara International ASA (Norway)
- Israel Chemical Ltd. (Israel)
- K+S Aktiengesellschaft (Germany)
- Sociedad Química y Minera de Chile (SQM) (Chile)
- The Mosaic Company (US)
- EuroChem Group (Switzerland)
- CF Industries Holdings, Inc.(US)
- OCP Group (Morocco)
- OCI Nitrogen (Netherlands)
- Wilbur-Ellis (US), Compass Minerals (US)
- Kugler (US), Haifa Group (Israel)
- COMPO Expert GmbH (Germany)
- AgroLiquid (US)
- Plant Food Company, Inc. (US)
- Coromandel International Ltd (India)
- Deepak Fertilizers & Petrochemicals Corporation Ltd. (India)
- Nufarm (Australia), and Brandt (US)
- ZuariAgro Chemicals Ltd (India)
- Valagro spa (Italy)
- AgrozonAgro (India)
- Koch Industries (US)
- KIngenta (China)
This report segments the specialty fertilizers market on the basis of crop type, technology, type, form, application method, and region. In terms of insights, this research report focuses on various levels of analyses—competitive landscape, end-use analysis, and company profiles—which together comprise and discuss the basic views on the emerging & high-growth segments of the specialty fertilizers market, the high-growth regions, countries, government initiatives, market disruption, drivers, restraints, opportunities, and challenges.
Reasons to buy this report
- To get a comprehensive overview of the specialty fertilizers market
- To gain wide-ranging information about the top players in this industry, their product portfolios, and key strategies adopted by them
- To gain insights about the major countries/regions, in which the specialty fertilizers market is flourishing
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