The Asia-Pacific fertilizer industry shall have an impressive CAGR of 3.9% over the forecast period of 2017-2022, as the nutrient requirements and active ingredients usage are set to rise. Factors supporting the market are economic growth, potential for the agriculture sector, and input-output prices.
High population densities leading to food security concerns in the region, along with increasing awareness among farmers of developing countries are driving the fertilizer market. Land use efficiency through the use of fertilizers shall help the market. The demand would be restricted by land fragmentation and lower adaptability of fertilizers in the region.
By type, the market is divided into nitrogen, phosphorus, potash and other macro fertilizers wherein nitrogen-based fertilizers account for the highest market share. By application, the market is explained by crop and non-crop usage.
The region would experience the highest CAGR in the world fertilizer industry led by agricultural countries like China and India. Thailand and Vietnam would experience higher growth over the forecast period. The economic improvements and expanding export market would register market growth for fertilizers in the region.
Key Industry Players
Major players accounting for substantial market share in the region are:
Geographical expansion with country specific product innovations is the major strategy followed by market players.
Key Deliverables in the Study
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