Global water soluble fertilizer market volume, by application, 2015 (Kilo Tons)
The global watersoluble fertilizers market is
expected to reach USD 22.0 billion by 2024, according to a new report by Grand
View Research, Inc. Rising demand for the product as they improve crop quality
and increases crop production output significantly will augment market growth
over the forecast period. Increasing crop production in countries including
China, India, the U.S., Indonesia, Brazil, Japan and Mexico on account of
growing population will drive industry size over the next eight years.
Decreasing availability of arable land is expected to fuel the product demand
over the forecast period.
Horticultural crops are
projected to show significant revenue gains at a CAGR of 6.8% from 2016 to 2024
owing to rising consumption of fruits, vegetables, spices and medicinal plants.
Moreover, rapid economic development, government support, advancements in
fertilizer manufacturing is anticipated to propel market demand.
Full
Research Report On water soluble fertilizers market
Analysis:
www.grandviewresearch.com/industry-analysis/water-soluble-fertilizer-market
www.grandviewresearch.com/industry-analysis/water-soluble-fertilizer-market
Further key findings from the report suggest:
·
Foliar accounted for 30.4% of
the overall volume and will show steady growth in light of rising application
in various fruits & vegetables including tomatoes, beans, and melons.
However, high cost as compared to fertigation will pose a challenge to its
growth.
·
Europe accounted for 37.6% of
the overall revenue share in 2015 and is expected to witness significant gains
in light of rising food security concern owing to growing population along with
high export demand for food products including wheat and cereals from Germany,
France, Italy and UK. Moreover, the presence of key participants including Yara
International, Bunge Ltd., Agrium, Eurochem, Potash Corp, and CF Industries
will promote industry growth.
·
Latin America will witness
substantial revenue rise at a CAGR of 7.2% from 2016 to 2024 on account of the
presence of various major participants including The Mosaic Company, Potash
Corp, and Haifa Chemicals. Development of agricultural policies and government
schemes to promote micro irrigation systems, which dispenses water soluble
fertilizers will augment industry size.
·
Water soluble fertilizers
industry is dominated by major participants including Agrium Inc., Potash Corp,
Israel Chemicals Limited, The Mosaic Company, K+S AG, and Yara International
ASA. Ongoing product innovation to produce efficient and cost-effective
fertilizers is expected to lead to industry expansion over the next eight
years.
·
In April 2016, Yara
International expanded the Rio Grande fertilizer plant capacity in Brazil to
create one of the most modern fertilizer sites. In December 2015, Yara
International acquired Greenbelt Fertilizers to expand the fertilizer business
in Zambia and surrounding areas that were experiencing fast agricultural
growth. In March 2015, Israel Chemicals planned to build a potassium nitrate
production plant to meet growing demand for soluble specialty fertilizers.
Browse More Reports Of This Category By
Grand View Research At: www.grandviewresearch.com/industry/agrochemicals-and-fertilizers
Grand View Research has segmented the
global water soluble fertilizers market on the basis of product, crop type,
application, and region:
Water Soluble Fertilizers
Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2013 - 2024)
·
Nitrogenous
·
Phosphatic
·
Potassium
·
Micronutrients
·
Secondary nutrients
Water Soluble Fertilizers Crop
Type Outlook (Volume, Kilo Tons; Revenue, USD Million, 2013 - 2024)
·
Field
·
Horticultural
·
Plantation
·
Turf & ornamental
Water Soluble Fertilizers
Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2013 - 2024)
·
Fertigation
·
Foliar
Water Soluble Fertilizers
Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2013 - 2024)
·
North America
o
U.S.
o
Mexico
o
Canada
·
Europe
o
Germany
o
UK
o
Italy
o
Russia
o
Spain
o
Ukraine
·
Asia Pacific
o
China
o
India
o
Japan
o
Australia
o
Malaysia
·
Latin America
o
Brazil
·
MEA
o
South Africa
Access Full Press Release of this Report: www.grandviewresearch.com/industry-analysis/water-soluble-fertilizer-market
About Grand
View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
For more information: www.grandviewresearch.com
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