The Asia-Pacific fertilizer industry is seen to grow at an impressive rate of 3.9% 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.
High population growth leading to food security concern over the region along with increasing awareness among farmers in developing countries are primarily driving the fertilizer market growth. Land use efficiency through the use of fertilizers will help the market growth. While the potential of growth is comparatively high in the developing countries of Asia-Pacific, the demand would be restricted by land fragmentation and lower adaptability of fertilizers in the region.
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 region would experience the highest CAGR growth in the world fertilizer industry. The Asia-Pacific fertilizers market demand is led by agricultural countries like- China and India. Countries like Thailand and Vietnam would experience higher growth in the forecast period. The economic improvements and growing export market would register market growth for fertilizers in the region.
Major players accounting for substantial market share in Asia-Pacific region are Agrium, Yara International, SinofeRT Holding Ltd., Terra Nitrogen Company, Potash Corp, Sumitomo Chemical Etc. 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,