According to Stratistics MRC, the Global Specialty Fertilizers Market is accounted for $34.65 billion in 2019 and is expected to reach $66.56 billion by 2027 growing at a CAGR of 8.5% during the forecast period. Some of the key factors propelling the market growth include increase in demand for enhanced high-efficiency fertilizers, ease of use and application of specialty fertilizers, rapid technological advancements in farming technology, and adoption of precision farming and protected agriculture. However, cost ineffectiveness is identified as a key factor hindering the market growth.
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On the basis of geography, Asia Pacific region is expected to witness significant growth during the forecast period, owing to increasing agricultural practices and requirement of high-quality agricultural produce. Major crops produced in Asia include rice, sugar beet, fruits & vegetables, cereals, and grains; the region consumes 90% of the global rice produced. Asian countries, such as Korea, China, Japan, and recently Vietnam, are applying high levels of nitrogenous fertilizers per hectare for both short-term and perennial crops. Hence, the demand for specialty fertilizers is high in the region.
Some of the key players in Specialty Fertilizers Market include Israel Chemicals Ltd., K+S Aktiengesellschaft, CF Industries Holdings, Inc., Nufarm, Haifa Group, OCP Group, Nutrien, Ltd., Yara International Asa, Coromandel International Limited, Kugler, The Mosaic Company, Eurochem Group, Compo Expert GmbH, Wilbur-Ellis Company LLC, Deepak Fertilizers & Petrochemicals Corporation Ltd., Brandt, and Tata chemicals Ltd.
Forms Covered:
• Liquid and Gas
• Formulated Granular
• Coatings
• Crystalline
• Granular
• Powder
Actions Covered:
• Controlled Release Fertilizers (CRF)
• Slow-release Fertilizers
• Compound Fertilizers
Technologies Covered:
• Coated & Encapsulated
• Chelated
• Micronutrient & Secondary Nutrient Fertilizers
• Customized Fertilizers
• Water-soluble Fertilizers
• Agricultural Micronutrients
• Bio-Stimulant Fertilizers
Crop Types Covered:
• Crop-based
• Non-crop-based
Channels Covered:
• Distributor
• Direct Sales
Application Methods Covered:
• Fertigation
• Soil
• Foliar
• Banded
• Surface Applied
Types Covered:
• Phosphatic Fertilizers
• Potassic Fertilizers
• Nitrogenous Fertilizers
• Granular N and P fertilizers (GNP)
• Granular N, P and K fertilizers (GNPK)
• Granular P and K fertilizers (GPK)
• Calcium Ammonium Nitrate (CAN)
• Dry Fertilizers
Compound Analysis Covered:
• Potash Compounds
• NPK Compounds
• Nitrogen Compounds
• Phosphate Compounds
End Users Covered:
• Agriculture
• Nonfarm Use
• Horticulture
• Hydroponics
• Aquaculture
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o France
o Italy
o UK
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
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