The African fertilizer industry is seen to grow at a rate of 2.7% during the forecast period of 2016-2021. Along with the growth of industry, the nutrients requirements and active ingredients (npk) usage is set to rise. The factors supporting the growth are- economic growth, potential for agriculture sector and input-output prices.
Fertilizers are used to fulfill the deficiencies in the soil so that it can supply essential nutrients to the plants. The chemical/inorganic fertilizers primarily consist of substances derived from nitrogen, phosphorus, and potassium. These three nutrients form the largest bulk and cost of most production. In this report, we are going to discuss various form of active ingredients used for NPK fertilizers.
Major drivers for the fertilizer market growth in Africa are identified to be increased demand for food grains and need for land use efficiency. Growing awareness about the fertilizers application would help in market growth in the region. While product innovation and INM practices involving synthetic fertilizers will provide future growth opportunities, the high cost of fertilizers, poor government support and hindrance in agriculture sector growth in underdeveloped countries will create obstacles for market growth in Africa
The region’s fertilizer market is classified on the basis of type, crop application and geographical distributions. By type, the market is explained by nitrogen, phosphorus, potash and other macro fertilizers wherein nitrogen based fertilizers account for highest market share. By application, the market is explained both by crop and non-crop.
The African fertilizers market demand is led by agricultural countries like- South Africa and Egypt. While South Africa accounts for majority of the market share, the demand would grow at a faster rate in Egypt in the forecasting period.
Major players accounting for substantial market share in Africa region are Belaruskali, OCP, Yara International, Bunge, ADM, Potash Corp Etc. Companies are targeting African region for the future growth of the industry; geographical expansion with country specific product innovations is the major strategy followed by market players. Product innovation is seen as a long term strategy for the industry.
In this report we offer,