Product innovations and technological advances in specialty fertilizers provide opportunities

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World Market of Specialty Fertilizers

World Market of Specialty Fertilizers

World Market of Specialty Fertilizers

Dublin, Nov. 28, 2022 (GLOBE NEWSWIRE) — “Global Specialty Fertilizers Market by Technology (Controlled Release Fertilizers, Micronutrients, Water Soluble Fertilizers and Liquid Fertilizers), Form (Dry & Liquid), Application Method, Type, Crop Type and Region – Forecast to 2027” added report ResearchAndMarkets.com supply.

According to the publisher, the global specialty fertilizers market size is estimated at US$ 24.3 billion in 2022 and is expected to reach US$ 33.7 billion by 2027, recording a CAGR of 6.8% in terms of value. According to the Gulf Petrochemicals & Chemicals Association (GPCA), specialty fertilizers are a fast-growing and diverse group of products with different characteristics containing essential primary, secondary or micro-nutrients. special fertilizers are designed to provide higher efficiency. They are designed for slow or controlled release and aim to improve nutrient use efficiency, reduce costs and minimize environmental risk. The specialty fertilizer market has seen significant growth due to the relatively lower efficiency of conventional fertilizers and the need to increase crop productivity.

Asia Pacific is expected to maintain its dominance as the leading market for specialty fertilizers

Asia Pacific maintains its dominance as the leading market for specialty fertilizers. Asia Pacific holds 40.5% of the global specialty fertilizer market in 2021. This regional segment includes China, India, Japan, Australia and New Zealand, Vietnam, and the rest of Asia Pacific. These key countries that play an important role in the agricultural sector. Cotton, sugar crops, fruits and vegetables, and cereals are the leading agricultural commodities exported by these countries. The Asia Pacific region is one of the largest markets for fertigation due to its large agricultural and irrigated area. According to FAOSTAT, the total land area equipped for irrigation in the Asia-Pacific region was 1669 million ha in 2020, which is ~36% of the global land area equipped for irrigation. Demand for controlled-release fertilizers is growing in this region due to increasing investment by overseas business lines in agricultural inputs to meet crop producers’ demand for export quality. In addition, special fertilizer regulations are favorable in this region. China accounts for the largest share of the specialty fertilizers market in the Asia Pacific region due to the increasing investment by several multinational manufacturers in research and development.

Water-soluble fertilizers are rapidly gaining popularity in the specialty fertilizer market worldwide

Water-soluble fertilizers improve crop and plant health and are more effective than conventional fertilizers. Their fertilization efficiency is a major factor driving demand. These fertilizers have high solubility, which allows the user to apply them to the soil and leaves. Adequate and appropriate foliar application of water-soluble fertilizers can reduce fertilizer use by up to 15-25%. Due to their high solubility, water-soluble fertilizers can also be applied to fruit crops without the risk of residues during harvesting.
Growing demand for fertigation as a mode of application, supported by increasing adoption of micro-irrigation systems, is expected to fuel the demand for water-soluble fertilizers. Furthermore, increasing demand for better yields, reduction in cultivable land, increasing cost of fertilizers, ease of application, innovative production practices, product offerings, increased availability, and emergence of micro-irrigation and mechanized irrigation systems are expected to fuel the demand for water – soluble fertilizers.

Report attribute

Details

Number of pages

324

Forecast period

2022 – 2027

Estimated Market Value (USD) in 2022

$24.3 billion

Estimated Market Value (USD) to 2027

$33.7 billion

Compound Annual Growth Rate

6.8%

Regions covered

Global

Market dynamics

Drivers

  • You should switch to efficient fertilizers to avoid environmental concerns

  • Favorable government policies and regulations

  • Easy application and use of special fertilizers

Limits

Opportunities

Challenges

Main topics covered:

1. Introduction

2 Research methodology

3 Summary

4 premium insights

5 Market overview

6 Industry trends

7 Specialty fertilizers market, by technology

8 Specialty Fertilizers Market, by Type

9 Specialty Fertilizers Market, by Crop Type

10 Specialty Fertilizer Markets, by Application

11 Specialty Fertilizers Market, by Form

12 Specialty Fertilizers Market by Region

13 Competitive landscape

14 Company Profiles

15 Adjacent and related markets

16 Appendix

The mentioned companies

  • Agroliquidity

  • Agzon Agro

  • Brand

  • Cf Industries Holdings, Inc.

  • Compo Expert GmbH

  • Coromandel International Limited

  • Deepak Fertilizers and Petrochemicals Corporation Limited

  • Eurochem Group

  • Haifa Negev Technologies

  • incl

  • K+S Aktiengesellschaft

  • Kingenta

  • Koch Industries, Inc.

  • Company Kugler

  • Nupharm

  • Nutrien Ltd

  • Oci Nitrogen

  • Ocp group

  • Plant Food Company, Inc.

  • Sqm Sa

  • The Mosaic Company

  • Valagro

  • Wilbur-Ellis Company LLC

  • children

  • Zuari Agro Chemicals Ltd.

For more information on this report, visit https://www.researchandmarkets.com/r/jmo73r

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