The global complex fertilizers market size is anticipated to reach USD 54.8 billion by 2026 according to a new research published by Polaris Market Research. The report “Complex Fertilizers Market Share, Size, Trends & Analysis Report, By Product (Complete, Incomplete); By Form (Solid, Liquid); By Crop (Cereals and Grains, Fruits and Vegetables, Oilseeds); By Regions Segment Forecast, 2019 – 2026” provides a complete analysis of present market trends and future insights.
Complex or compound fertilizers produced by union of two or more kinds of macronutrient fertilizers are used in a manner of providing crops the correct level of fertility. The complex fertilizers industry has expanded at a brisk pace in the past and continues to enjoy steady growth rate as factors such as rising industrialization, urbanization, rise in energy consumption and conversion of arable lands into commercial infrastructures and making a need for provision of proper fertility to tilled lands more immediate.
Farmers are being educated regarding use of proper fertilizers for that particular crop, and kind of pests most commonly affecting it and soil fertility has all got to do with it. Proper fertility of soil is what gives life to the crops and keeps them going ensuring an enduring agricultural production. The market will steepen the pace of growth in next few years.
One of the key factors driving global complex fertilizers market is the rising global population and a consecutive need to see it through ensuring a full-grown harvest. The colossal jump in global population and urban lifestyle and a decline in arable land are putting pressure on the market. Complex fertilizers globally have been divided into product form, product type, crop type and region. Product form is further bifurcated into solid and liquid. The crop segment of complex fertilizers market is classified into cereals and grains, fruits and vegetables and oilseeds among others.
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Cereals and grains segment dominated and possessed the largest share. On the basis of product type, market includes complete and incomplete complex fertilizers. The incomplete fertilizers held largest share globally.
The incomplete fertilizers are suitable for applications in cereals, crops and vegetables and the greenhouse applications making it one of the most employed crop fertilizers all over the world. Asia Pacific held largest market share in complex fertilizers during 2017 and will also prevail upon marketing domain in 2018 to 2026.
The fertilizers merge with elements providing nutrients to plants and comprise minerals such as calcium, magnesium and sulphur among others. These nutrients are also known as trace or secondary nutrients. A judicious combination of complex and compound fertilizers offer many advantages like economic savings, convenience in the field and ease in meeting with crop nutrition levels.
Apart from these growth factors, there are some restraints that includes an inclination towards adoption of organic fertilizers that acts as major restraint for growth. These fertilizers when used with crops provide high nutrition content and for making biofuels which will swing the market in favor of complex fertilizers.
Few of the key players mainly focus on innovation and leverage industry insights with investments in R&D and new product launches. The companies hold patent rights which helps to launch further products.
Few of the key players include Potash Corporation of Saskachewan, Inc., Israel Chemicals Limited, CF Industries Holdings Inc., The Mosaic Company, Haifa Chemicals Ltd., Yara International ASA and Eurochem Group AG among others.
Polaris Market research has segmented the complex fertilizers market on the basis of product type, product form, crop type and region.