Global Water Soluble Fertilizer Market Growing at a CAGR of over 5% between 2015 and 2020
Zion Research has published a new report titled “Water Soluble Fertilizers (Nitrogen, Potassium, Phosphate and Others) Market for Fertigation and Foliar Applications: Global Industry Perspective, Comprehensive Analysis and Forecast, 2014 – 2020.” According to the report, the global water soluble fertilizers market was valued at USD approximately USD 2.60 billion in 2014 and is expected to reach approximately USD 3.80 billion by 2020, growing at a CAGR of over 5% between 2015 and 2020. In terms of volume, global water soluble fertilizers market stood at approximately 10.0 million tons in 2014.
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Water soluble fertilizers release essential plant nutrients at the root which can be easily absorbed by crop and used elsewhere in the plant system. Water soluble fertilizers can be delivered within the irrigation water through fertigation method by the drip system. Liquid and water soluble fertilizers are delivered using this method. Water soluble fertilizers can be effectively delivered at root zone of crops and from there it can be absorbed and evenly distributed to all the parts of crop. Thus use of water soluble fertilizers can achieve 80 to 90 percent efficiency. Water soluble fertilizer contains various nutrients with different properties including Nitrogen, potassium, phosphate and others. Nitrogen, potash and urea are the major water soluble fertilizers. Water soluble fertilizers can be applied by using both methods fertigation as well as foliar.
One of the major driving forces behind growth of water soluble fertilizers is increased crop yield. Use of water soluble fertilizers helps achieve efficient uptake of nutrients from soil and as result higher nutrient use efficiency being one of the most important among them. Owing their higher solubility in water, water soluble fertilizers achieve this by releasing essential plant nutrients at the root zone from where they are readily absorbed and used elsewhere in the plant system. Secondly, shrinking arable land and rapidly growing population of the world is forcing countries to increase their farm yield. Increasing use of drip and sprinkler also expected to drive demand for water soluble fertilizers. Moreover, applying water soluble fertilizers through drip or sprinkler help farmers avoid over fertilization and subsequent adverse effects of it.
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Nitrogen, phosphate, potassium and others (secondary+micro) are the major product segments of water soluble fertilizers market. Nitrogen is the largest product segment of global water soluble fertilizers market. It accounted for over two third shares of the total volume consumed globally in year 2014. Potassium and phosphate are another important product segment of the water soluble fertilizers. However, potassium is expected to exhibit fastest growth CAGR during the forecast period. Fertigation and foliar are the two important methods used to deliver water soluble fertilizers. Fertigation method dominated the global water soluble fertilizers method with around 70% share of the total market in 2014. It is also expected to be the fastest growing segment for the water soluble fertilizers during the forecast period.
Asia Pacific dominated the global water soluble fertilizers market with over 55% share in total volume consumption in 2014. Asia Pacific is home for over two third population of the world. Rapid growth in the population has been resulted into growing demand for food. Thus increase in crop yield is a need of the day. Moreover, use of different irrigation method such as drip and sprinkler is growing in the region owing to scarcity of water available for farming. Growth of the water soluble fertilizers can be attributed to above factors. It is further expected to keep driving demand for water soluble fertilizers at moderate pace during the forecast period. Latin America, North America and Europe are other significant regional markets for the water soluble fertilizers.
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Some of the major participants in the Water Soluble Fertilizers market include Yara International ASA, Israel Chemical Limited, Agrium Inc., The Mosaic Company, Haifa Chemicals Limited, Compo GmbH & Co. KG, Coromandel International Ltd., Hebei Monband Water Soluble Fertilizer Co., Ltd., K+S AG and Sociedad Quimica Y Minera SA (SQM).
This report segments the global market as follows:
Water Soluble Fertilizers Market: Nutrient Segment Analysis
Read full Table of Content at http://www.marketresearchstore.com/report/global-water-soluble-fertilizers-market-z37352#tableOfContent
Water Soluble Fertilizers Market – Application Segment Analysis
Water Soluble Fertilizers Market – Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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