Significant Growth Expected in the Incomplete 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 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.

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The incomplete complex fertilizers segment is projected to be the fastest-growing type in the next five years as a result of an increase in awareness about multi nutrient complex fertilizers in the soil is driving the demand for this segment. Incomplete fertilizers are generally used to overcome specific nutrient deficiencies in the soil. They are usually less expensive than complete fertilizers and require more skill to use properly. Because of its moderately high supplement substance and its excellent physical properties, diammonium phosphate fertilizer segment dominated the global complex fertilizers market in 2016, and the trend is projected to continue till 2022.

Both demand and supply of compound fertilizers are expected to witness tremendous growth in 2017, and both are expected to grow steadily in the future. Increased demand for NPK gives fertilizer producers the challenge of finding the most cost-effective solutions to diversify their range of products with the possibility of adapting to the changing market trends and the requirements of their customers.

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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.

The key players that have been profiled in this report include CF Industries Holdings Inc. (US), Yara International ASA (Norway), The Mosaic Company (US), EuroChem Group AG (Switzerland), Potash Corporation of Saskatchewan (Canada), PhosAgro (Russia), Agrium Inc. (Canada), Israel Chemicals Limited (Israel), Sociedad Química y Minera de Chile (Chile), Haifa Chemicals Ltd., (Israel), Helena Chemical Company (US), and Zuari Agro Chemicals Ltd (India).


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