Growing Use of Advanced Farming Technologies to Drive the Growth of Complex Fertilizers Market

The "Complex Fertilizers Market was valued at USD 44.03 Billion in 2016. It is projected to grow at a CAGR of 6.5% from 2017, to reach a projected value of USD 54.32 Billion by 2022.

 The growth in the complex fertilizers market is driven by advanced farming technologies that ensure safe and reliable application of complex fertilizers. Hence, complex fertilizers will be viewed as a business opportunity in the next five years. As a result, many multinational players have made investments to increase their production capacity and to produce various complex fertilizers that are crop-specific.

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The rise in awareness about health and wellness, growth of the organic food industry, and the significant increase in the price of chemicals have played a huge role in providing the necessary boost to the global biofertilizers industry, which acts as a restraint for the complex fertilizers market.

The uncertainty in prices leads to challenges in production planning and sourcing of raw materials. The cost of ammonia has also been volatile due to lower natural gas costs, which further affects the price of complex fertilizers. Therefore, the fluctuation in the prices of raw materials is a direct challenge that the manufacturers of complex fertilizers need to combat.

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Visionary leaders primarily focus on acquiring the leading market position through their strong financial capabilities and well-established brand equity. Innovators are players that have a strong focus on innovation and invest heavily in R&D and new product launches. These players hold specific patents in the core market and launch products to gain competitive advantage. Yara International ASA (Norway), Israel Chemicals Ltd. (Israel), Potash Corporation of Saskatchewan Inc. (Canada), Agrium Inc. (Canada), PhosAgro (Russia), CF Industries Holdings, Inc. (US), and The Mosaic Company (US) are the key players in the complex fertilizers market.

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