Fertilizers basically are the products that enhance the levels of available plant nutrients and the chemical and physical characteristics of soil, thereby directly or indirectly improving plant growth, yield, and quality.In order for crops to grow, three principal soil nutrients are required: nitrogen (N), phosphorus (P) and potassium (K). As each harvest removes these nutrients in the form of crops, they must be replenished to prevent the land from becoming barren. These fertilizer componentshelp in increasing the durability and strength of the agricultural land.The global fertilizer market is segmented according to the different types of fertilizers such as organic fertilizer, inorganic fertilizer and bio fertilizer. Among these different types of fertilizers, organic fertilizers dominate the overall market in terms of consumption and revenue owing to its renewable nature, sustainability and environment friendliness.
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The global fertilizers market in 2014 was $116.7 billion and is dominated by Asia-Pacific which is poised to exhibit the faster growth due to favorable macroeconomic conditions such as increasing population which would eventually result in increasing the yield of crops to feed everyone. China and India are the growth frontiers for the fertilizers manufacturers providing a huge potential market to be tapped. China is the largest market with the highest share. Major countries of Asia-Pacific region, China, India, Pakistan, Indonesia are involved in many agricultural activities which make it high demand region for fertilizers. Apart from Asia-Pacific, the fertilizer revenue in South and Central American countries are estimated to grow at a high CAGR of 7.6% during the forecast period.
The number of manufacturers across the world for fertilizers market has increased manifold. These manufacturers are actively investing in scaling up their position in the market and are able to attract profitable deals. Some of the major players are PotashCorp, Mosaic, Uralkali, Belaruskali, Yara International, OCP S.A., CF Industries, Israel Chemicals, Agrium Inc., K+S AG and many others. Major firms spent huge amounts of money in the development of efficient technologies and at the same time, new firms are coming up with cutting-edge technological innovations, resulting in tremendous increase in the degree of competition. Consequently, product launches, mergers and acquisitions and partnerships by companies, universities as well as individual researches has been frequenting the fertilizers market headlines.
Potash Corp and Mosaic, key players of this industry, together occupy 19% of the market share. They are followed by Uralkali and Belaruskali with significant market share.
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The overall fertilizers market is characterized by large number of companies but top ten companies account for 56% market share due to the wide distribution network and brand reputation.Rapid developments in emerging countries and use of innovative products and materials in agriculture activities have supported the growth of fertilizers markets. Along with the demand growth, the adoption of new technologies for fertilizer manufacturing in emerging economies such as China and India provide a strong impetus to the market growth. Innovation is a key driver for this segment. As per the industry, fertilizers manufacturing sector spends a considerable amount of its sales on R&D of new products and technologies. This is one of the strategies to increase the market share. The new firms that venture into this market will need huge capital for investment in manufacturing andmarketing along with offering product or pricing benefits to customers. The market is poised to exhibit new product launches and strategic acquisitions or partnerships, as major companies explore for new opportunities.
Also the number of patents published by top five companies for products and technologies related to organic fertilizers increased from 19 in 2010 to 29 in 2012. The number of patents filed by VitAG Corporation is around 24 in the last five years, which has led the fertilizers market, with respect to patents publications.
The fertilizers market report is a comprehensive study of the market for different types of fertilizers, types of crop and geography.
The market is analyzed by the following type of crops these fertilizers are used for:
- Wheat
- Rice
- Maize
- Soybean
- Oil Palm
- Cotton
- Sugar
- Fruits & Vegetables
- Others
Following key players were also covered as part of the market landscape analysis:
- Potash Corporation of Saskatchewan
- Yara International ASA
- The Mosaic Company
- Israel Chemicals Ltd.
- Uralkali
The fertilizers market has also been analyzed for four geographic regions which include North America, Asia-Pacific, Europe and Rest of the World.
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Browse Related Reports:
Bio fertilizers Market: By Type (Nitrogen Fixing, Phosphate Solubilizing, Rhizobacteria and Others); By Crops (Food Crops, Industrial Crops, Food Adjuncts and Others); By Geography – Forecast (2015-2020) at:
http://www.industryarc.com/report.php?id=biofertilizers-market-analysis.html
Agrochemicals Market: By Type (Pesticides, Fertilizers, Liming and Acidifying Agents, Soil Conditioners and Others.); By Application (Agriculture, Forestry operations, Animal husbandry, Gardens and Others) and By Geography – Forecast (2015-2020) at:
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