Water Soluble Fertilizer Market Report

Water Soluble Fertilizer Market Analysis By Product (Nitrogenous, Potassium, Phosphatic, Micronutrients, Secondary Nutrients), By Application (Fertigation, Foliar), By Crop Type (Field, Horticultural, Plantation, Turf & Ornamental) And Segment Forecasts, 2013 - 2024

Published: November 2016  |  140 Pages  |  Format: PDF  |  Report ID: GVR-1-68038-188-7

Market size and trends

The global water soluble fertilizer market size was USD 12.5 billion in 2015 and is expected to witness significant growth over the next eight years on account of increasing demand for food crops, food grains, vegetables and fruits in China, India and Brazil. Growing population along with rising inclination of consumers towards disease free and healthy fresh fruit & vegetables will fuel market growth over the upcoming years.

Increasing demand for drip irrigation as it prevents water and is suitable for all lands including undulating terrain, barren lands, rolling topography, and areas with shallow soil layers will drive industry expansion over the forecast period. Furthermore, increasing government initiatives towards increasing agricultural output coupled with implementation of various subsidies to promote the use of drip irrigation will have a positive impact on the industry.

Global water soluble fertilizer market volume, by application, 2015 (Kilo Tons)

Global water soluble fertilizer market

Easy application along with high crop productivity will spur product demand over the upcoming years. Availability of land has been decreasing in the leading agricultural countries in light of industrial and infrastructure developments. Countries including India, China, and the U.S. are losing the amount of arable lands available owing to reason including soil erosion, urbanization and infrastructure development. Less availability of arable land is expected to fuel the demand for water soluble fertilizers over the forecast period.

Volatility in feedstock prices will hinder market growth over the forecast period. Increasing investment by key market participants for the development of environment-friendly and efficient fertilizers will create growth opportunities over the next eight years.

Application Insights

Fertigation was the largest segment in 2015 and accounted for over 65% of the global revenue share and is expected to show high gains owing to high crop productivity and less labor cost involved in the process. This method reduces the losses and ensures the even distribution of the fertilizers. Moreover, the demand for fertigation will show high growth in light of its low cost as compared to the foliar applications.

Foliar includes the application of fertilizer directly to the leaves. High effectiveness resulting in improved yield will drive the demand for water soluble products, particularly, micronutrients. Increasing demand for fruits and exotic flowers is likely to fuel the growth of the market over the forecast period

Product Insights

Nitrogenous was the prominent segment in 2015 and accounted for 60.5% of the global volume share and is expected to witness growth on account of high application in oilseeds and grains. The product provides better texture and color to plants and thus increases the overall crop productivity.

Global water soluble fertilizer market volume share, by product, 2015 (%)

Global water soluble fertilizer market

Potassium will witness substantial volume growth at a CAGR of 4.9% from 2016 to 2024 as it aids water retention, and protein synthesis to energize plants for healthy growth. Moreover, these are highly soluble, non-toxic to roots and improves tolerance towards frost, which will increase its consumption.

Crop Type Insights

Field crops accounted for 64.9% of the overall volume share in 2015 as they are cultivated on a large scale to meet food requirements. Rising demand for field crops including rice, cotton, wheat, oilseeds and other grains in countries such as the U.S., China, India and Brazil on account of growing population is expected to augment the industry demand over the upcoming years.

Regional Insights

Asia Pacific accounted for 22.6% of the overall revenue in 2015 and is projected to increase demand for water soluble fertilizers over the next eight years on account of growing agricultural output in countries including China, India, Pakistan, and Bangladesh. Moreover, development of medium to small scale market participants in the region coupled with rapid economic growth and government support is expected to drive the market growth.

Asia Pacific water soluble fertilizer market revenue, by crop type, 2013 - 2024 (USD Million)

Asia Pacific water soluble fertilizer market

China leads in the production of rice followed by India and Indonesia. China accounts for more than a quarter of global rice production. Furthermore, production of fruits and plantation crops such as tea and coffee are very popular in China. Presence of the main fertilizer manufacturers including Sinofert Holdings Limited, EuroChem, Bunge, and Agrium Inc. will increase industry expansion.

Competitive Insights

The industry is extremely competitive in nature with the primary participants involved in continuous R&D and product innovation. The industry is mainly dominated by major players including Agrium Inc., Potash Corp, Israel Chemicals Limited, The Mosaic Company, K+S AG, EuroChem, and Yara International ASA.

Other players include Coromandel International Limited, Compo GmbH & Co. KG, Hebei Monband Water Soluble Fertilizer Co. Limited, Haifa Chemicals Limited, Sociedad Quimica Y Minera SA, Sinochem Fertilizers Co., Limited, TATA Chemicals, CF Industries Holdings Inc., Qatar Fertilizer Company and Iowa Fertilizer.

In August 2016, Yara International acquired Tata Chemicals' urea business in India for USD 400 million for business expansion in the country. In July 2016, Agrium Inc. completed the acquisition of Cargill’s agro retail business to expand its market presence.

Water Soluble Fertilizers Report Scope

Attribute

Details

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Base year

2015

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Historic

2013 and 2014

Extended historic data (2012 to 2015)

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Forecast

2016 - 2024

Extended Forecast data (2025 – 2027)

Free

Report details

Market size, company market share, competitive Landscape, growth factors, trends

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Market representation

Kilo Tons

USD Million

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Geographic coverage

Global & Regional (by country)

Information on up to three additional countries

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Company profiles

All major market players

Profiles of 10 additional companies

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Market segments covered in the report

Grand View Research has segmented the global water soluble fertilizer industry on the basis of product, application, crop type and region:

  • Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2013 - 2024)
    • Nitrogenous

    • Phosphatic

    • Potassium

    • Micronutrients

    • Secondary nutrients

  • Crop Type Outlook (Volume, Kilo Tons; Revenue, USD Million, 2013 - 2024)
    • Field

    • Horticultural

    • Plantation

    • Turf & ornamental

  • Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2013 - 2024)
    • Fertigation

    • Foliar

  • Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2013 - 2024)
    • North America

      • U.S.

      • Mexico

      • Canada

    • Europe

      • Germany

      • UK

      • Italy

      • Russia

      • Spain

      • Ukraine

    • Asia Pacific

      • China

      • India

      • Japan

      • Australia

      • Malaysia

    • Latin America

      • Brazil

    • MEA

      • South Africa

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