The fertilizers manufacturing market consists of the sales of fertilizers by entities (organizations, sole traders or partnerships) that produce nitrogenous or phosphate fertilizers materials, produce fertilizers from sewage or animal waste, manufacture nitrogenous or phosphate materials and mix with other ingredients into fertilizers, and/or mix ingredients made elsewhere into fertilizers.
The global chemical fertilizers market is expected to decline from $138.9 billion in 2019 to $132.9 billion in 2020 at a compound annual growth rate (CAGR) of -4.4%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of % from 2021 and reach $131.7 billion in 2023. Asia Pacific was the largest region in the global chemical fertilizers market, accounting for 40% of the market in 2019. North America was the second largest region accounting for 18% of the global chemical fertilizers market. Middle East was the smallest region in the global chemical fertilizers market. The water-soluble fertilizers market is growing rapidly due to the increased commercial cultivation of high value crops to meet the rising demand for such food. These fertilizers are specifically designed to be used in fertigation systems such as sprinkler and drip irrigation systems. Increasing awareness among farmers of technology-driven agricultural practices in developing nations is driving water soluble fertilizers sales.
The major players in the global chemical fertilizers market are Nutrien Ltd., Yara International, The Mosaic Company, CF Industries Holdings Inc., Israel Chemicals Ltd.
The countries covered in the global chemical fertilizers market report are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam
The Global Chemical Fertilizers Market is segmented:
1) By Type: Nitrogen Fertilizer, Phosphate Fertilizer, Potash Fertilizer
2) By Crop Category: Cereals, Oilseeds, Vegetables, Fruits, Others
3) By Method of Application: Broadcasting, Drop Spreading, Fertigation, Foilar Spray
4) By Form: Solid, Liquid, Gaseous
5) By Product Type: Complex Fertilizers, DAP, MOP, Urea, SSP, Other