Global Compound Fertilizer Industry Market Overview:
A compound fertilizer has two or more essential plant nutrients and contain secondary nutrients and trace elements and the compound can be organic or inorganic. Fish, bone meal, manure, and compost are included under organic compounds. Inorganic fertilizers combine various chemicals in the manufacturing process. Nitrogen, phosphorus, and potassium are the essential plant nutrients which are required for plants to complete their life cycle. Secondary nutrients are magnesium, sulfur, and calcium, which exist in soil but need to be replenished gradually. Trace elements such as boron, copper, and cobalt may be added. The Compound Fertilizer market was valued at around USD XX Billion in 2017 and it is projected to grow at a CAGR of XX% to reach a projected value of USD XX Billion by 2022.
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Drivers and Restraints:
The compound fertilizer market did witness important and evident growth globally due need to growing productivity. and to optimize yield and fertilizer intensity gap across regions. Additionally, increase in consciousness about soil profile and nutritional balance helps the growth of the compound fertilizer market. Nevertheless, the market growth is being restrained due to rise in trend of nitrogenous fertilizers. The compound fertilizer market is expected to witness numerous growth opportunities owing to growth in investment in agricultural sector, especially in Africa.
Geographically, the global specialty fertilizers market can be classified into North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa. Of them, North America held the dominant share in the overall market in 2017. In North America, rising focus on sustainable agriculture coupled with a high degree of environmental consciousness due to governmental regulations are majorly responsible for the adoption of specialty fertilizers.
Also, the Asia Pacific is expected to display the leading growth rate in the specialty fertilizers market over the estimated period. China is leading the domestic market for specialty fertilizers in the Asia Pacific region. The intensive usage of specialty fertilizers in turf and ornamental crops account for the important share of China in Asia Pacific synthetic fertilizers market. India is comparatively a new market for specialty fertilizers in the region.
Europe holds significantly evident share in the global specialty fertilizers market due to presence of many specialty fertilizer manufacturers in the region. Latin America and the Middle East and Africa are likely to display notable growth in the specialty fertilizers market in the upcoming years.
The key players in the market are Yara International ASA, Agrium Inc., The Potash Corporation of Saskatchewan Inc., Israel Chemical Limited, Sociedad Quimica Y Minera S.A., Haifa Chemicals Limited, and Coromandel International Limited among others.
Scope of the report:
The report offers a comprehensive analysis of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in effecting the market dynamics and trends are discussed in detail at the product level. Further, the performance of the market at the regional and country-level is assessed and the prospects with high growth potential are identified and debated.
The key players in the industry are profiled providing insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategical activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry are provided. The report also offers a broad outlook of the market along with recommendations from industry experts on the opportunities for investment activity.
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