Water Soluble Fertilizers Market Overview:
According to an IndustryArc report, the global Fertilizers Market was estimated at $125,897 million in 2017 with an estimated CAGR of 6.3% during 2018 to 2023. Water soluble fertilizers usually constitute of NPK (Nitrogen, Phosphorous and Potassium), potassium nitrate, ammonium sulfate, monopotassium phosphate, dipotassium phosphate, etc which are soluble in water. These fertilizers are used by farmers and cultivators to maximize crop yield, counter unfavorable growing conditions, increase water retention and improve quality of produce.
Water Soluble Fertilizers Market Outlook:
The global Water Soluble Fertilizers exports accounted to $50.45 billion in 2017 and is expected to witness a robust growth to satisfy an ever increasing population’s food requirements. The large population growth is correlated with rapid urbanization of developing cities, large scale industrialization, combined with high energy demand. This has resulted in the conversion of forest areas to arable croplands, while on the other hand, previously arable lands have lost their fertility due to global climatic changes and exploitive farming methods. The UN’s the Food and Agriculture Organization (FAO) has predicted that developing countries including China and India will require an excess of 120 million hectares of farmlands by 2030 to satisfy food needs of their growing population. To solve this huge UN Zero Hunger challenge, water-soluble fertilizers are a key solution in helping farmers to maximize yield sustainably, accelerate crop maturity while maintaining the overall health of the plants, in spite of desertification of farmlands and degradation of soil quality.
Water Soluble Fertilizers Market Growth drivers:
There are multiple growth drivers for the water soluble fertilizer market. The exponential population growth in the Asia Pacific region would mean rising food and nutrition demands. More stomachs to fill and people to feed, is the most important driver for the growth of such fertilizers especially in developing countries like India, China, Bangladesh and others. Water soluble fertilizers are deemed as the traditional farming elements and thus developing countries which do not have strict environmental regulations are the biggest consumers of such fertilizers.
Water Soluble Fertilizers Market Challenges:
The prime challenge faced by the water soluble fertilizers market is its negative after effects that cause heavy environmental damage. Water soluble fertilizers are always associated with algal blooms, degradation of water table and soil quality. Moreover, the rise of organic based farming and the ‘Organic revolution’ will hamper the growth of water soluble fertilizers especially in developed countries that have strict environmental regulations regarding the use of such chemicals.
Water Soluble Fertilizers Market Research Scope:
The base year of the study is 2017, with forecast done up to 2023. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the Water Soluble Fertilizers market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of plastics in the electric vehicle market, and their specific applications in different types of vehicles.
Water Soluble Fertilizers Market Report: Industry Coverage
Water Soluble Fertilizers– By Method of Application: Fertigation, Foliar Spraying, Drip Irrigation and Hydroponics
Water Soluble Fertilizers– By Product: Nitrogenous, Phosphatic, Potassium, Micronutrients and Secondary Nutrients
Water Soluble Fertilizers Market – By Type of Crop: Cereals, Oil seeds, Sugar, Flowers, Fruits & Vegetables
The Water Soluble Fertilizers market report also analyzes the major geographic regions for the market as well as the major countries for the market in these regions. The regions and countries covered in the study include:
- North America: The U.S., Canada, Mexico
- South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica
- Europe: The U.K., Germany, Italy, France, The Netherlands, Belgium, Spain, Denmark
- APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong
- Middle East and Africa: Israel, South Africa, Saudi Arabia
Water Soluble Fertilizers Market Key Players Perspective:
Some of the Key players in this market that have been studied for this report include: PotashCorp, Mosaic, Uralkali, Yara International, CF industries, GSFC Ltd, Haifa Chemicals Ltd and others
Market Research and Market Trends of Water Soluble Fertilizers Market
- Yara International ASA and Kalmar Global have begun to design the world's first zero emission cargo solution which would be fully-digitalized and autonomous. This new innovation is the Yara Birkeland cargo ship that was designed with the aim of improving safety and sustainability in the entire supply chain. Yara which is one of the leading manufactures of water soluble fertilizers, faces major transportation and supply chain challenges in transporting fertilizer components and chemicals in trucks to and from manufacturing facilities in Norway. Chemicals like Nitrogen, Urea and others are known be highly explosive presenting a high risk when transported by roadways. Thus, the company plans to replace the 40,000 annual truck journeys through the dense Norwegian populated cities, with the innovative Yara Birkeland vessel that entirely by-passes the roads. In addition to road safety, the electric feature of the cargo vessel effectively reduces the carbon footprint, thus earning a good image in the eyes of the public.
- In other news, Yara International ASA successfully acquired the ValeCubatão Fertilizantes complex in Brazil, as well as Tata Chemicals' urea business in India. Both India and Brazil are one of the most advancing developing countries in the world with a combined population of nearly 2 billion. Developing countries like Brazil and India, have rapid urbanization taking place, increasing population levels and, implying increased food demand. Yara's acquisition of Tata Chemicals' urea division is seen to play vital role in establishing new markets in the world's second biggest fertilizer market.