The Italy water soluble fertilizer market is estimated to reach USD 862.2 million by 2030 according to a new report by Grand View Research, Inc. It is projected to expand at a CAGR of 6.7% from 2022 to 2030. The growth is attributed to the popularity of these products as an immediate nutrient deficiency corrector and large-scale agricultural exports from the country.
The raw materials used in the production process include compound & elemental fertilizers, and some additives. The choice of raw materials, including the raw material grades, type of elements, and their contents, can have a significant impact on the product quality.
The market is highly competitive owing to the presence numerous leading players such as ICL Fertilizer, Akzo Nobel N.V., and EuroChem Group. These players have strong distribution networks worldwide.
The market is governed by stringent rules and regulations in the country. Thus, formulating an appropriate product that follows the maximum permissible limits of chemicals is one of the challenges faced by the industry in the country.
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In 2021, water soluble NPK emerged as the dominant product type segment by contributing around 15.6% of revenue share as it enables effective control of pre-existing nutritional deficiencies of crops.
NPK 20:20:20 segment was the dominant sub-segment in terms of both revenue and volume, as enhances the blossoming and ripening of flowers and fruits, respectively.
Urea was the second-largest product type segment and is projected to grow at a CAGR of 7.6% in terms of revenue by 2030, owing to its lower cost and the presence of high nitrogen content
The fertigation application segment is projected to grow at the highest CAGR of 7.7% in terms of revenue owing to the proper distribution of fertilizer beyond the root zone.
Grand View Research has segmented the Italy water soluble fertilizer market report on the product type, crop type, and application:
Italy Water Soluble Fertilizer Product Type Outlook (Volume, Tons; Revenue, USD Thousand; 2018 - 2030)
Ammonium Nitrate
Ammonium Sulphate
Calcium Nitrate
Potassium Sulphate
Monoammonium Phosphate
Mono Potassium Phosphate
Urea Phosphate
Magnesium Nitrate
Magnesium Sulfate
Water-soluble NPK
Urea
Urea Ammonium Nitrate
Others
Italy Water Soluble Fertilizer Crop Type Outlook (Volume, Tons; Revenue, USD Thousand; 2018 - 2030)
Horticultural Openfield
Horticultural Greenhouse
Field Crops
Turf & Ornamental
Others
Italy Water Soluble Fertilizer Application Outlook (Volume, Tons; Revenue, USD Thousand, 2018 - 2030)
Fertigation
Foliar
Raw Material
List of Key Players of Italy Water Soluble Fertilizer Market
ICL
TIMAC AGRO
Akzo Nobel N.V.
ED & FMan
PAVONI & C SPA
Arpa Speciali
Valagro
Trade Corporation International
Biolchim SPA
Eurochem
URALCHEM JSC
K+S Aktiengesellschaft
Haifa Negev technologies LTD
COMPO EXPERT
Agrium Inc.
MUGAVERO
Hydrofert
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