Market Snapshot
| Study Period: | 2016 - 2026 |
| Base Year: | 2020 |
| CAGR: | 6.9 % |
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Market Overview
The Asia-Pacific fertilizers market was valued at USD 9.38 billion in 2020, and it is expected to register a CAGR of 6.9% during the forecast period (2021-2026).
The COVID-19 pandemic has had a direct impact on the supply chain of the fertilizers market in Asia-Pacific. Crop producers were affected by disruptions in local and international transport systems, clogged ports and roads, and delays in customs clearances, which inhibited their access to intermediate inputs like fertilizers. The dependence of grains and oilseeds production on these inputs has resulted in reduced production due to the inaccessibility of inputs by farmers.
The major factors driving the market are technological innovations in the fertilizers market, growth in the demand for micronutrient fertilizers, decrease in per capita arable land, and increase in demand for food. However, high production costs and growing demand for biofertilizers are slightly restraining the growth of the market.
Scope of the Report
Fertilizers refer to natural or artificial substances containing chemical elements that improve the growth and productiveness of plants. Fertilizers enhance the soil’s natural fertility and replace the chemical elements taken from the soil by previous crops. Modern fertilizers include nitrogenous, potash, and phosphate fertilizers. The study analyzes the current scenario of the Asia-Pacific fertilizers market. The market is segmented by type (nitrogenous, phosphatic, potassic, and other types), application (grains and cereals, pulses and oilseeds, fruits and vegetables, plantation crops, and other applications), and geography (China, Japan, India, Australia, Indonesia, Vietnam, Thailand, Philippines, and Rest of Asia-Pacific). In addition to this, an overview of the key players in the Asia-Pacific fertilizers market is also included in the report.
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| Grains and Cereals | |
| Pulses and Oilseeds | |
| Fruits and Vegetables | |
| Plantation Crops | |
| Other Applications |
| Geography | |
| China | |
| Japan | |
| India | |
| Australia | |
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| Vietnam | |
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| Philippines | |
| Rest of Asia-Pacific |
Key Market Trends
Decreasing Per Capita Arable Land and Increasing Demand for Food
The population in the Asia-Pacific region is increasing at a rapid rate. This growing population is adding to the food demand. Supplying food to this growing population has become a threat. On the other hand, arable land is declining due to industrialization and urbanization. Fertilizers have been used for a long time to increase the productivity of crops. This adequate and balanced use of fertilizers may help in feeding the growing population from the available cultivable land. Hence, the major factors driving the demand for fertilizers include the need for crop intensification while pursuing increasingly sustainable practices and seeking biological alternatives to boost production with decreased pressure on the environment to close the yield gap. According to the FAO, fertilizer consumption is projected to increase by 1% in South Asia every year up to 2030 to increase agricultural productivity.
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China Dominates the Asia-Pacific Fertilizers Market
China feeds 22% of the world’s population with merely 12.68% of the arable land. The major crops grown in China are rice, wheat, potatoes, corn, peanuts, tea, millet, barley, apples, cotton, and oilseed. According to the China Agriculture Industry Development report, China has a goal to become self-sufficient in staple foods, like rice, corn, and wheat, by 2035. The government ensures a minimum price for the grains and provides storage for them in government silos. Farmers in the country are also using fertilizers and pesticides to increase production. The most important agricultural area in the country is the North China Plain, which extends across several provinces.
In 2017, the International Plant Nutrition Institute (IPNI) of China conducted a Controlled-Release Urea (CRU) fertilizer application program in Hubei province in Central China. It has been proved that the consistent use of CRU fertilizer helps in improving the yield and profitability of major crops, such as rice and eggplant. These research studies can create awareness among farmers, which may increase the consumption of fertilizers in the country.
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Competitive Landscape
The Asia-Pacific fertilizers market is highly fragmented, with the top five market players cornering a very minimal share in the market. The development of regional markets and increasing shares of local players in foreign direct investments are the major factors promoting the fragmented nature of the market. Some of the players operating in the market are Yara International, Sinofert Holdings Ltd, Groupe OCP, Pt Petrokimia Gresik, and China Blue Chemical Ltd.
Recent Developments
In January 2021, Groupe OCP made an agreement with Hubei Forbon Technology Co. Ltd (Forbon), a Chinese company, to establish a joint venture (JV) for the development of new generation technologies for fertilizers and smart agriculture. The JV is established in Wuhan, China.
In January 2018, Yara International ASA completed its acquisition of Tata Chemicals' urea business in India, marking a significant step forward for its growth ambitions in India. The acquired plant has an annual production of about 0.7 million metric ton of ammonia and 1.2 million metric ton of urea. With this acquisition, Yara expanded its production capacity to cater to the rising demand.
Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Type
5.1.1 Nitrogenous Fertilizers
5.1.1.1 Urea
5.1.1.2 Calcium Ammonium Nitrate
5.1.1.3 Ammonium Nitrate
5.1.1.4 Ammonium Sulfate
5.1.1.5 Anhydrous Ammonia
5.1.1.6 Other Nitrogenous Fertilizers
5.1.2 Phosphatic Fertilizers
5.1.2.1 Mono-ammonium Phosphate (MAP)
5.1.2.2 Di-ammonium Phosphate (DAP)
5.1.2.3 Single Super Phosphate (SSP)
5.1.2.4 Triple Super Phosphate (TSP)
5.1.2.5 Other Phosphatic Fertilizers
5.1.3 Potash Fertilizers
5.1.3.1 Muriate of Potash (MoP)
5.1.3.2 Other Potassic Fertilizers
5.1.4 Other Types
5.2 By Application
5.2.1 Grains and Cereals
5.2.2 Pulses and Oilseeds
5.2.3 Fruits and Vegetables
5.2.4 Plantation Crops
5.2.5 Other Applications
5.3 Geography
5.3.1 China
5.3.2 Japan
5.3.3 India
5.3.4 Australia
5.3.5 Indonesia
5.3.6 Vietnam
5.3.7 Thailand
5.3.8 Philippines
5.3.9 Rest of Asia-Pacific
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 China BlueChemical Ltd
6.3.2 Sinofert Holding Ltd
6.3.3 PT Petrokimia Gresik
6.3.4 Hubeu Xin Yanf Feng Fertilizer Industry Limited
6.3.5 Yara International
6.3.6 Groupe OCP
6.3.7 ICL- Israel Chemicals Ltd
6.3.8 Haifa Chemicals Ltd
6.3.9 PT Pupuk Iskandar Muda
6.3.10 PT Pupuk Kujang
6.3.11 PT Pupuk Kalimantan Timur
6.3.12 PT Pupuk Sriwidjaya Palembang
6.3.13 The Mosaic Company
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. IMPACT OF COVID-19 ON THE MARKET
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Frequently Asked Questions
What is the study period of this market?
The Asia-Pacific Fertilizers Market market is studied from 2016 - 2026.
What is the growth rate of Asia-Pacific Fertilizers Market?
The Asia-Pacific Fertilizers Market is growing at a CAGR of 6.9% over the next 5 years.
Who are the key players in Asia-Pacific Fertilizers Market?
China BlueChemical Ltd, Sinofert Holding Ltd, PT Petrokimia Gresik, Yara International, Groupe OCP are the major companies operating in Asia-Pacific Fertilizers Market.
