Global Speciality Fertilizers Market Set to Reach $52.4 Billion by 2025 - Strong Growth in Emerging Economies, Growing Nutrient Deficiency & Rising Importance of Specialty Nutrients
DUBLIN, Dec. 18, 2019 /PRNewswire/ -- The "Speciality Fertilizers Market by Type (UAN, CAN, MAP, Potassium Sulfate, and Potassium Nitrate), Application Method (Soil, Foliar, and Fertigation), Form (Dry and Liquid), Crop Type, Technology, and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global speciality fertilizers market is estimated to be valued at USD 36.1 billion in 2019 and is projected to reach USD 52.4 billion by 2025, recording a CAGR of 6.4%.
Factors such as the growing demand for high-efficiency fertilizers, the adoption of precision farming and protected agriculture, increasing environmental concerns, and rapid growth in greenhouse vegetable production are projected to drive the growth of this market.
The urea-ammonium nitrate (UAN) segment is projected to be the largest segment, by type, in the speciality fertilizers market during the forecast period.
UAN is gaining more popularity among liquid fertilizers, as it can be mixed with pesticides, herbicides, growth regulators, and other nutrients, thereby allowing farmers to reduce costs. Solutions of UAN are widely used as a source of nitrogen for plant nutrition. These solutions are extremely versatile as a source of plant nutrition. Due to its chemical properties, UAN is compatible with many other nutrients and agricultural chemicals and is frequently mixed with solutions containing phosphorus, potassium, and other essential plant nutrients.
The cereals & grains segment is projected to account for the largest market during the forecast period.
By crop type, the speciality fertilizers market is segmented into cereals & grains, oilseeds & pulses, fruits & vegetables, turf & ornamentals, and other segments. The dominance of the cereals & grains segment is attributed to the increasing consumption of liquid fertilizers for these crops, particularly in the Asian and North American countries. In addition, due to the increasing demand for crops, such as corn, wheat, rice, and sorghum, across various industries, the consumption of crop protection chemicals is projected to increase for improving the yield of these cereals. Due to these factors, the segment is projected to grow at the highest CAGR during the forecast period. Asia Pacific accounted for the largest share in the speciality fertilizers market for the cereals & grains segment, majorly due to the high production of crops, including corn, wheat, and rice, in the US, China, India, and Japan.
The coated & encapsulated segment is projected to grow at the highest CAGR during the forecast period.
By technology, the speciality fertilizers market is segmented into slow-release, N-stabilizers, coated & encapsulated, and chelated. Coated & encapsulated speciality fertilizers are conventional soluble fertilizer materials with increasingly available nutrients, which after granulation, prilling, or crystallization, are given a protective (water-insoluble) coating to control the water penetration, thereby affecting the rate of dissolution and the nutrient release. The adoption of these fertilizers is increasing in the global market, particularly in China, the US, Japan, Canada, and Western Europe, due to the growing awareness about the benefits associated with coated fertilizers and government support provided by the nation, in terms of subsidies and policy amendments. Due to these factors, the segment is projected to grow at the highest CAGR during the forecast period.
The Asia Pacific market is estimated to account for the largest market share due to the rapid adoption of advanced technologies for improving the yield of crops in the region.
According to the FAOSTAT, the Asia Pacific region contributed to more than 60% of the global population in 2017, with China and India being two of the most populous countries in the world. Hence, the increase in food demand from this region has led to a surge in the use of speciality fertilizers. The growth rate of the Japanese market is also projected to be high as compared to that of the other regions, due to the adoption of precise and advanced systems for farming, as well as controlled-environment agriculture. There are more global players in the market that are focusing on entering the Asia Pacific region through the adoption of strategies, such as mergers & acquisitions or partnerships. The Asia Pacific market is projected to grow at the highest rate due to the increase in demand from countries, such as India and China. The high cost of these fertilizers is a key factor inhibiting the growth of the Asia Pacific market.
Key Topics Covered
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Global Market
4.2 Specialty Fertilizers Market, By Type
4.3 Asia Pacific: Specialty Fertilizers Market, 2018
4.4 Specialty Fertilizers Market, By Technology & Region, 2018
4.5 Specialty Fertilizers Market Share: Key Countries
5 Market Overview
5.1 Introduction
5.2 Macro Indicators
5.2.1 Rising Market Demand for High-Value Crops
5.2.2 Limited Availability of Arable Land
5.3 Market Dynamics
5.3.1 Drivers
5.3.1.1 The Need for High-Efficiency Fertilizers
5.3.1.2 Uniform Nutrient Application
5.3.1.3 Rising Environmental Concerns to Encourage the Adoption of Specialty Fertilizers
5.3.1.4 Increasing Adoption of Precision-Farming Technology
5.3.2 Restraints
5.3.2.1 Growth of the Organic Fertilizers Industry
5.3.2.2 Cost Ineffectiveness
5.3.3 Opportunities
5.3.3.1 Strong Growth in Emerging Economies
5.3.3.2 Growing Nutrient Deficiency and Rising Importance of Specialty Nutrients
5.3.4 Challenges
5.3.4.1 Lack of Awareness Among Farmers
5.3.4.2 Limited Adoption of Controlled-Release Technology
5.4 Regulatory Framework
5.4.1 North America
5.4.1.1 US
5.4.1.2 Canada
5.4.2 Europe
5.4.3 Australia
5.4.4 China
5.4.5 India
5.4.6 South Africa
5.4.7 Israel
6 Speciality Fertilizers Market, By Type
6.1 Introduction
6.2 Urea-Ammonium Nitrate (UAN)
6.2.1 UAN is Widely Used as A Key Source for Nitrogen Deficiency
6.3 Calcium Ammonium Nitrate (CAN)
6.3.1 Calcium Ammonium Nitrate is One of the High-Quality Top-Dressing Fertilizers
6.4 Monoammonium Phosphate (MAP)
6.4.1 Monoammonium Phosphate has Multiple Applications Across All Crops
6.5 Sulfate of Potash (SOP) (Potassium Sulfate)
6.5.1 Excellent Source of Potassium and Sulfur
6.6 Potassium Nitrate
6.6.1 Increasing Application in High-Value Cash Crops
6.7 Others
7 Speciality Fertilizers Market, By Technology
7.1 Introduction
7.2 Coated & Encapsulated
7.2.1.1 Increase in the Application of Coated Fertilizers for Cultivating High-Value Crops has Led to A Surge in Demand for Specialty Fertilizers in Developed Countries
7.3 Slow Release Fertilizer
7.3.1 Slow-Release Fertilizers Help in Stimulating the Root Growth in Plants, Which is A Key Factor Driving the Growth of the Asia Pacific Market
7.4 Chelated
7.4.1 Chelated Specialty Fertilizers Provide Essential Nutrients for the Better Yield of Crops
7.5 N-Stabilizers
7.5.1 The Cost-Effective Feature and High Scope for Product Development to Increase the Supply of Advanced Technical Products During the Forecast Period
8 Speciality Fertilizers Market, By Application Method
8.1 Introduction
8.2 Fertigation
8.2.1 Growing Adoption of Irrigation Systems to Drive the Market for Fertigation
8.3 Foliar
8.3.1 Foliar Segment Projected to Dominate the Asia Pacific Region During the Forecast Period
8.4 Soil
8.4.1 Broadcasting is the Most Common Soil Application Method Used for Applying Specialty Fertilizers to Open Field Crops
9 Speciality Fertilizers Market, By Crop Type
9.1 Macro indicators
9.1.1 Crop Cultivation Pattern
9.2 Connected Market: Npk (N+P2 O5 +K2o) Fertilizers
9.3 Introduction
9.4 Cereals & Grains
9.4.1 Cereals & Grains Segment Continues to Be the Largest in the Market in Asian and North American Countries
9.4.1.1 Corn
9.4.1.2 Wheat
9.4.1.3 Rice
9.4.1.4 Others
9.5 Oilseeds & Pulses
9.5.1.1 Oilseeds & Pulses are Gaining Wide Importance as Cash Crops Due to the High Adoption of Nitrate-Based Specialty Fertilizer Applications
9.5.1.2 Soybean
9.5.1.3 Canola
9.5.1.4 Others
9.6 Fruits & Vegetables
9.6.1 Growers Need to Produce More in Limited Arable Land, Owing to Which the Application of Specialty Fertilizers in Fruits & Vegetables is Increasing in Developing Countries
9.6.1.1 Roots & Tubers
9.6.1.2 Citrus Fruits
9.6.1.3 Brassicas
9.6.1.4 Others
9.7 Turf & Ornamentals
9.7.1 Specialty Fertilizers Help in Stimulating the Root Growth in Turf Grass, Which is One of the Driving Factors for the Market in Asia Pacific
9.8 Others
10 Speciality Fertilizers Market, By Form
10.1 Introduction
10.2 Dry
10.2.1 Longer Shelf Life and Ease of Availability Boost the Consumption of Dry Specialty Fertilizers
10.3 Liquid
10.3.1 Ease of Application Drives the Market for Liquid Specialty Fertilizers
11 Speciality Fertilizers Market, By Region
11.1 Introduction
11.2 North America
11.3 Europe
11.4 Asia-Pacific
11.5 South America
11.6 Rest of the World (RoW)
12 Competitive Landscape
12.1 Overview
12.2 Competitive Leadership Mapping
12.3 Competitive Leadership Mapping (Start-Up/SME)
12.3.1 Progressive Companies
12.3.2 Starting Blocks
12.3.3 Responsive Companies
12.3.4 Dynamic Companies
12.4 Competitive Scenario
13 Company Profiles
13.1 Nutrien Ltd.
13.2 Yara International Asa
13.3 ICL
13.4 K+S Aktiengesellschaft
13.5 Sociedad Qumica Y Minera De Chile (SQM)
13.6 The Mosaic Company
13.7 Eurochem Group
13.8 CF Industries Holdings Inc.
13.9 Nufarm
13.10 OCI Nitrogen
13.11 OCP Group
13.12 Coromandel International Limited
13.13 Deepak Fertilizers and Petrochemicals Corporation Limited
13.14 Kugler
13.15 Haifa Group
13.16 Compo Expert GmbH
13.17 Wilbur-Ellis Company LLC
13.18 Brandt
13.19 Agroliquid
13.20 Plant Food Company Inc.
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