Complex Fertilizers Market Business Growth | Size, Value Share, Industry Segment and Forecast to 2028

 

Complex Fertilizers Market Outlook

Market Research Future (MRFR) report on the global Complex Fertilizers industry was valued at USD 35.68 billion in 2019 and is estimated to reach USD 54.36 billion by 2026, expanding at a CAGR of 6.2%, during the forecast period, 2020–2026.provides a comprehensive analysis of COVID-19 on current and potential market situations. The report examines key players, including a five-year global trend overview, which highlights market growth. The report also offers a forecast of market opportunities for each region during the next five years.

Fertilizers containing two or more primary nutrients nitrogen (N), phosphorus (P) and potash (K) in an appropriate composition are known as complex fertilizers or compound fertilizers. These are used as a means of providing a suitable level of fertility for crops. Integrated fertilizers containing two primary nutrients are known as incomplete fertilizers, while those containing all three primary nutrients are known as integrated fertilizers. The complex fertilizer market has grown at a promising pace in recent years and continues to grow steadily as factors such as rising industrialization, urbanization, increased energy consumption, and the conversion of arable land to commercial landscapes make it more urgent to provide arable land with proper fertility. 

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Complex fertilizers market  Key Players

Some of the significant participants in the global Complex Fertilizers industry Trends are CF Industries Holdings Inc. (US), EuroChem Group AG (Switzerland), Sociedad Química y Minera de Chile (Chile), Potash Corporation of Saskatchewan (Canada), Agrium Inc. (Canada), Zuari Agro Chemicals Ltd (India), Yara International ASA (Norway), PhosAgro (Russia), Israel Chemicals Limited (Israel), The Mosaic Company (US), Haifa Chemicals Ltd. (Israel), and Helena Chemical Company (US).

Complex fertilizers market  Dynamics

The global market for complex fertilizers is anticipated to grow at the fastest rate over the forecast period due to the chemical and physical properties of complex fertilizers that favor plant growth and help to achieve high yields. The increase in global demand for food and biofuels is boosting complex ecosystem agricultural commodities production, which, in effect, is driving the market growth for complex fertilizers. In addition, increasing growth in greenhouses and polyhouses around the globe is catalyzing the selling of complex fertilizers on the global market.

Nevertheless, the major factors impeding the growth of the global complex fertilizer market are fluctuating agricultural product prices, reduced rural population, reduced farm incomes, and the growing organic fertilizer industry.

Complex fertilizers market  Segmentation

The global market for complex fertilizers has been segmented based on type, crop type, form, mode of application, and region.

By type, the global market for Complex Fertilizers industry Trends outlook has been classified as complete complex fertilizers and incomplete complex fertilizers. The complete complex fertilizers segment has been further divided into N-P-K (10-26-26), N-P-K (12-32-16), N-P-K (15-15-15), and others. The incomplete complex fertilizers segment has been further classified as monoammonium phosphate (11-52-0), monopotassium phosphate (0-52-34), potassium nitrate (13-0-45), diammonium phosphate (18-46-0), and others. 

Based on crop type, the global market for complex fertilizer market has been classified as cereals, oilseeds and pulses, fruits and vegetables, and others.

Based on form, the global market for complex fertilizers has also been segregated into granular and liquid.

By mode of application, the global market for Complex Fertilizers industry Trends has been divided into foliar and fertigation.

The global market for complex fertilizers has been segmented into four key regions—North America, Europe, the Asia Pacific, and the rest of the world.

The Asia Pacific is expected to capture the lion's share of the global demand for complex fertilizers and to exhibit a significant CAGR during the forecast era. India, China, Indonesia, and Vietnam are among the key markets that contribute to regional market development. In addition, growing awareness among farmers about the benefits of multi-nutrient fertilizer complexes is also promoting market growth in the Asia Pacific.

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