TheBusinessResearchCompany’s Chemical Fertilizers Market covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market.
The fertilizers manufacturing market consists of the sales of fertilizers by entities (organizations, sole traders or partnerships) that produce nitrogenous or phosphate fertilizers materials; produce fertilizers from sewage or animal waste; manufacture nitrogenous or phosphate materials and mix with other ingredients into fertilizers; and/or mix ingredients made elsewhere into fertilizers.
A fertilizer is defined as a substance such as a chemical mixture which is applied on soil or plants to supply nutrients essential to the growth of plants. This report covers only chemical fertilizers defined as synthetically manufactured fertilizers.
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The global market for chemical fertilizers reached a value of nearly $104.9 billion in 2018, having declined at a compound annual growth rate (CAGR) of -3.3% since 2014. The market is expected to grow at a CAGR of +3.7% to nearly $121.3 billion by 2022.
Growth in the chemical fertilizers market in the historic period resulted from growth in emerging markets, government support, a low interest environment, government subsidies and intensive farming techniques. Factors that negatively affected growth in the historic period were safety regulations, erratic rainfall, overcapacity in food production, and rising prices for natural gas.
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The present study exhibits the trends and market dynamics of the Chemical Fertilizers market in major countries – USA, China, Germany, Brazil, Japan, UK, Spain, Russia, France, Australia, Italy, India and rest of the world. The report also includes the study of the current issues with consumers and various future opportunities for the market.
The key restraints on the chemical fertilizers market includes:
Alternative Farming Practices – The fertilizers market is likely to be limited by increasing use of alternative farming practices such as aquaponics, during the forecast period. Aquaponics involves the growing of hydroponic crops along with the raising of aquatic animals (such as fish). In aquaponics system, the water containing the waste material generated from the aquatic animals is used to nourish the hydroponic plants. Fertilizers are not used in aquaponics as they can harm the aquatic animals. The rise in adoption of such farming practices is expected to impact the overall demand for fertilizers, thereby limiting the market during the forecast period.
Some of the major players involved in the Chemical Fertilizers market are Nutrien Ltd., Yara International, The Mosaic Company, CF Industries Holdings Inc., Israel Chemicals Ltd.
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