NPK Fertilizers Market Pegged for Robust Expansion during 2018-2026
Global NPK Fertilizers Market was sized US$ XX Bn in 2017 and is anticipated to reach US$ XX Bn by 2026 at a CAGR of about XX % during a forecast period.
Global NPK Fertilizers market is segmented by type, by application and by region. In terms of type, NPK Fertilizers market is segmented into Chlorine-based compound fertilizers, Sulfur-based compound fertilizers, Nitro- based compound fertilizers and Urea- based compound fertilizers. Wheat, Rice, Maize, Fruits & Vegetables and others are application segment of NPK Fertilizers market. Geographically into North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
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Fertilizers basically are the types 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).
Increase in Demand for Water Soluble Fertilizers is one of the top trends observed in the fertilizer market as of 2017. The water soluble fertilizer market is growing rapidly due to increased commercial cultivation of high value crops like wheat, maize, rice to meet rising demand. These fertilizers are specifically designed to be used in “fertigation” systems such as sprinklers and drip irrigation. Increasing awareness among farmers of technology-driven agricultural practises in developing nations is driving water soluble fertilizer sales.
Asia was the largest region in the fertilizer market in 2017. Asia is the largest market because of the presence of large farming communities in China and India using fertilizers. The Americas comprised the second largest region followed by Europe. The global fertilizer market made up around 4% of the global chemical market in 2016.
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Yara, Euro Chem, Acron, Rossosh, ZAT, ICL,Coromandel, Gresik, Phosagro, Roullier, Grupa Azoty, Grupo Villar Mir, S.A., Kingenta, Xinyangfeng, Stanley, Luxi Chem, Aboolo, SACF, Batian, Huachang Chem, Hongri Acron, Yihua, Potash Corp, Mosaic, Uralkali, Belaruskali, Shindoo, Yuntianhua, Xinlianxin, Liuguo Chem, Xiyang, Sinofert, WuzhoufengÂ¸ Fengxi Fert, Azomures, Helm AG, IFFCO are key players included in the NPK Fertilizers market.
Scope of Global NPK Fertilizers Market:
Global NPK Fertilizers Market by Type:
Chlorine-based compound fertilizers
Sulfur-based compound fertilizers
Urea- based compound fertilizers
Nitro- based compound fertilizers
Global NPK Fertilizers Market by Application:
Fruits & Vegetables
Global NPK Fertilizers Market by Region:
Middle East & Africa
Key Player Analysed in the NPK Fertilizers Market :
Grupo Villar Mir S.A.