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complex fertilizers market

Complex Fertilizers Market [By Product Type (Complete Complex Fertilizers, Incomplete Complex Fertilizers); By Product Form (Solid, Liquid); By Crop Type (Cereals and Grains, Fruits and Vegetables, Oilseeds, Others); By Regions (North America - U.S., Canada; Europe - Germany, UK, France; Asia-Pacific - China, India, Japan; Latin America - Brazil, Mexico; Middle East & Africa)]: Market size & Forecast, 2017 – 2026

Published: Oct 2018
Pages: 110
Format: PDF
Report ID: PM1526
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Report Summary

The complex fertilizers market globally was valued at USD 31.5 billion in 2017 and is expected to grow at a CAGR of around 6.8% from 2018 to 2026. Complex fertilizers are referred to or known as the combination of various fertilizers. These complex or compound fertilizers are prepared by combining two or more varieties of macro-nutrient fertilizers. These complex fertilizers can also get blended with different elements that provide nutrients to plants, and are otherwise known as trace or secondary nutrients comprising of calcium, magnesium, and sulfur. The complex fertilizers in general can be distributed as well as packaged in either granular or liquid form. Combination of complex or compound fertilizers offer multiple advantages as well like economic savings, convenience in the field, along with ease in meeting with the crop nutritional levels.

The benefits related to the usage of these fertilizers as compared to others have primarily driven growth of the global complex fertilizers market. Moreover, rising demand for fertilizers that are nutrient specific along with high requirement of better crop yield for production of bio-fuel is also expected to act as drivers for the complex fertilizers market over the current forecast period of 2018-2026. For instance, in 2017, the Indian bio-fuels industry invested around US$ 2.25 billion which is expected to increase the industry’s value to US$ 7.5 billion by 2022. However, it is the increasing inclination towards adoption of organic fertilizer that is acting as a major restraint for growth of the complex fertilizers market. The increasing demand for these complex fertilizers remains due to the high nutritional contents and growing demand for bio-fuel further providing new growth opportunities for the market in future as well.

Europe Complex Fertilizers Market Share, By Crop Type, 2017 – 2026

According to the report by Research Institute of Organic Agriculture, in 2015, more than 50.9 million hectares of land was used and occupied by the organic agricultural activities. The regions having the largest areas of organic agricultural land in the world includes Oceania having 22.8 million hectares, forming around 45% of the world’s total organic agricultural land and Europe holding 12.7 million hectares forming approximately 25 percent of the total agricultural land.

Segment Analysis

The global complex fertilizers market has been segmented on the basis of product form, product type, crop type and region. Based on product form the market is bifurcated into solid and liquid. On the basis of product type, the complex fertilizers market includes complete complex fertilizers, and incomplete complex fertilizers. It is the incomplete complex fertilizers that held the largest market share of more than 70% globally. Incomplete complex fertilizers are suitable for application in cereals, crops and vegetables, and for greenhouse applications making it one of the most used fertilizers all over the world. Moreover, certain incomplete complex fertilizers like diammonium phosphate helps in improving plant resistance to stress conditions such as diseases and drought. Considering the crop type segment of the complex fertilizers, the market is classified into cereals and grains, fruits and vegetables, and oilseeds among others. In this segment, it is the cereals & grains crop type that dominated the market and held the largest market share. Rise in demand for cereals and grains having improved yields as well as sustainability are some of the key factors driving the growth of cereals & grains to curb the food shortage problem especially in the emerging economies.

Europe Complex Fertilizers Market, By Product Form, 2017 – 2026 (USD Billion)

Regional Analysis

Asia Pacific formed the leading region in the complex fertilizers market in 2017, and will continue to retain its dominance all throughout the forecast period of 2018-2026. It is the increasing demand for food from different countries in this region together backed by growing population has together formed one of the major driving factors boosting growth of the complex fertilizers market in Asia Pacific. Based on a study conducted by ADB or Asia Development Bank, in 2013, the Asia Pacific is expected to account for around one-third of the projected 2.6 billion growths in global population between 2010 and 2050.

This has resulted requiring additional measures to increase the productivity for serving increasing population leading to the usage of complex fertilizers. Europe is also expected to witness significant growth in the complex fertilizers market globally in 2017. The European Innovation Partnership was launched in 2012 for agricultural productivity and sustainability to put in to effect the European Union's strategy of Europe 2020 for smart as well as sustainable growth. The strategy is aimed towards ensuring a continuous supply of food, feed, and biomaterials, having the essential natural resources on which the farming depends.

Competitive Analysis

The leading players present in the complex fertilizers market focus on innovation and make heavy investments in the R&D as well as the new product launches. These companies hold special patents within the core market and help in launching products to gain competitive advantage. Major players present in the global complex fertilizers market include Potash Corporation of Saskatchewan Inc., Israel Chemicals Limited, CF Industries Holdings Inc., The Mosaic Company, PJSC PhosAgro, Adventz Group, Haifa Chemicals Ltd., Yara International ASA, and Eurochem Group AG among others.


Key Take-Away