Asia-Pacific Micronutrient Fertilizer Market - SIZE, SHARE, COVID-19 IMPACT & FORECASTS UP TO 2028

The Asia-Pacific Micronutrient Fertilizer Market is segmented Market Snapshot , Product ( Boron, Copper, Iron, Manganese, Molybdenum, Zinc, Others ) , Application Mode ( Fertigation, Foliar, Soil ) , Crop Type ( Field Crops, Horticultural Crops, Turf & Ornamental ) and Country ( Australia, Bangladesh, China, India, Indonesia, Japan, Pakistan, Philippines, Thailand, Vietnam )

Market Snapshot

https://s3.mordorlabs.com/study%20period/1629296433432_test~study_period_study_period.svg Study Period: 2016 - 2028
https://s3.mordorlabs.com/base%20year/1629296433432_test~base_year_base_year.svg Base Year: 2021
https://s3.mordorlabs.com/hydraulic_fluids/1629285650767_test~hydraulic_fluids_hydraulic_fluids.svg Largest Share by Product: Zinc
https://s3.mordorlabs.com/globe/1629285706162_test~globe_globe.svg Largest Share by Country: India
https://s3.mordorlabs.com/cagr/1629296433433_test~cagr_cagr.svg CAGR: 5.31 %

Key Players

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Market Overview

The Asia-Pacific Micronutrient Fertilizer Market stood at 1.58 billion USD in 2022 and is projected to register a CAGR of 5.31% to reach 2.16 billion USD in 2028.

  • Largest Segment by Product - Zinc : Zinc is the most applied micronutrient fertilizer because of increasing zinc deficiencies in the soils of major growing regions. The application of zinc is proven to give higher yields.
  • Fastest-growing Segment by Product - Iron : Alkaline soils with high pH, coupled with the degrading health and quality of soils, are leading to the deficiency of iron. Hence, with the increasing demand for high-yield crop production, there is a rising need for iron.
  • Largest Segment by Crop Type - Field Crops : Field crops are the most-widely grown crops in the region, as most of them are considered staple food and can feed the increasing populations in the countries in the region.
  • Largest Segment by Country - India : The usage of micronutrient fertilizers has increased as the Indian soils are deficient in boron (47%), iron (37%), and zinc (39%), according to the Centre for Science and Environment.

Scope of the Report

Boron, Copper, Iron, Manganese, Molybdenum, Zinc, Others are covered as segments by Product. Fertigation, Foliar, Soil are covered as segments by Application Mode. Field Crops, Horticultural Crops, Turf & Ornamental are covered as segments by Crop Type. and Australia, Bangladesh, China, India, Indonesia, Japan, Pakistan, Philippines, Thailand, Vietnam are covered as segments by Country.
Product
Boron
Copper
Iron
Manganese
Molybdenum
Zinc
Others
Application Mode
Fertigation
Foliar
Soil
Crop Type
Field Crops
Horticultural Crops
Turf & Ornamental
Country
Australia
Bangladesh
China
India
Indonesia
Japan
Pakistan
Philippines
Thailand
Vietnam
Rest Of Asia-Pacific

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Key Market Trends

Why is Zinc the largest segment by Product?

  • Zinc is the most-consumed micronutrient in the Asia-Pacific region, with a share of 43.8% and a volume consumption of 275.1 thousand metric tons in 2021. This value is estimated to increase owing to zinc's importance in the growth and development of plants. The application of zinc is proven to give higher crop yields.
  • Manganese is the second-most consumed micronutrient after zinc, and it accounted for 18.9% of the total micronutrient consumption in 2021. This was due to its vitality in the important physiological processes of plants, like chlorophyll formation, photosynthesis, and seed germination.
  • Iron is the third-most consumed micronutrient fertilizer in the region, accounting for 17.2% of the market among all micronutrients. Iron plays an important role in a plant's growth and development as it is a component of many enzymes and acts as a catalyst in chlorophyll formation.
  • Copper accounted for 8.8% of total micronutrient consumption in the region in 2021. It is an important micronutrient that is needed in small quantities. It acts as a catalyst in many important plant reactions during the process of growth and plays a key role in protein formation.
  • In the micronutrient fertilizer segment, specialty fertilizers occupy a larger share with 58.0%, valued at USD 838.9 million, followed by conventional type with 42.0%, valued at USD 608.3 million. Moreover, foliar spraying is commonly followed for specialty fertilizers as it can quickly correct the deficiencies in the symptomatic areas.
  • Hence, owing to factors like the need for higher yield and productivity and the growing knowledge among the farmers about their importance in crop cultivation, the market for micronutrients in the region is anticipated to grow during the forecast period.

Why is India the largest segment by Country?

  • Countries such as India and China are the major market for micronutrients in the Asia-Pacific micronutrient fertilizer market, accounting for 36% and 17% of the market in 2021. The Centre for Science and Environment (CSE) reported that Indian soil is more deficient in boron (47%), iron (37%), and zinc (39%) and less deficient in copper and manganese, which makes it the largest market in the region. 
  • Recently, the Chinese government recognized the seriousness of the overuse of fertilizers and has put forward the decision to reduce the amount of fertilizers through "the Action Plan for the Zero Increase of Fertilizer Use" regulation, which led to a decrease in the usage of fertilizers, including micronutrient fertilizers, in the country and resulted in a 16.9% decline in micronutrient consumption during the study period.
  •  Empirical studies have shown that boron deficiency is widespread in many countries, including Korea, Malaysia, and Taiwan. It is more common in volcanic, acidic, and calcareous soils and highly affects crops such as peanuts, soybean, papaya, and citrus.
  • The Food and Fertilizer Technology Centre for Asian and Pacific Region observed that the foliar mode of micronutrient application, such as 0.5% iron sulfate, manganese sulfate, 0.1% of copper sulfate, of the minimum recommended dosages are found to decrease the respective symptoms of deficiency on the crops.
  • Hence, in order to ensure food security, the demand for micronutrient fertilizers is expected to grow at a higher rate in the region during the forecast period.

Competitive Landscape

The Asia-Pacific Micronutrient Fertilizer Market is moderately consolidated, with the top five companies occupying 64.50%. The major players in this market are Chambal Fertilizers & Chemicals Ltd, Coromandel International Ltd., Israel Chemicals Ltd (SF), Sociedad Química y Minera (SQM) and YARA International ltd (sorted alphabetically).

Major Players

  1. Chambal Fertilizers & Chemicals Ltd

  2. Coromandel International Ltd.

  3. Israel Chemicals Ltd (SF)

  4. Sociedad Química y Minera (SQM)

  5. YARA International ltd

*Disclaimer: Major Players are sorted alphabetically

Market Developments

  • May 2022: ICL signed Framework agreements with customers in India and china to supply 600,000 and 700,000 metric tons of potash, respectively in 2022 at 590 USD per ton.
  • September 2021: In September 2021, Coromandel International launched GroShakti Fertilizer. It is a new technology and superior complex fertilizer with EnPhos Technology and Zincated 14-35-14. This grade has a high nutrient percentage and less filler material, because of which it does not hurt the soil mechanism.
  • February 2020: Indian Farmers Fertilizer Cooperative Limited associate AquaGT has forayed into Urban Gardening by introducing a specialized Urban Gardening product range to assist the urban enthusiasts with useful, effective and easy to use products, under the brand name of IFFCO Urban Gardens.

Table of Contents

  1. 1. EXECUTIVE SUMMARY & KEY FINDINGS

  2. 2. REPORT OFFERS

  3. 3. INTRODUCTION

    1. 3.1 Study Assumptions & Market Definition

    2. 3.2 Scope of the Study​

    3. 3.3 Research Methodology

  4. 4. KEY INDUSTRY TRENDS

    1. 4.1 Acreage Of Major Crop Types

    2. 4.2 Average Nutrient Application Rates

    3. 4.3 Regulatory Framework

    4. 4.4 Value Chain & Distribution Channel Analysis

  5. 5. MARKET SEGMENTATION

    1. 5.1 Product

      1. 5.1.1 Boron

      2. 5.1.2 Copper

      3. 5.1.3 Iron

      4. 5.1.4 Manganese

      5. 5.1.5 Molybdenum

      6. 5.1.6 Zinc

      7. 5.1.7 Others

    2. 5.2 Application Mode

      1. 5.2.1 Fertigation

      2. 5.2.2 Foliar

      3. 5.2.3 Soil

    3. 5.3 Crop Type

      1. 5.3.1 Field Crops

      2. 5.3.2 Horticultural Crops

      3. 5.3.3 Turf & Ornamental

    4. 5.4 Country

      1. 5.4.1 Australia

      2. 5.4.2 Bangladesh

      3. 5.4.3 China

      4. 5.4.4 India

      5. 5.4.5 Indonesia

      6. 5.4.6 Japan

      7. 5.4.7 Pakistan

      8. 5.4.8 Philippines

      9. 5.4.9 Thailand

      10. 5.4.10 Vietnam

      11. 5.4.11 Rest Of Asia-Pacific

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Key Strategic Moves

    2. 6.2 Market Share Analysis

    3. 6.3 Company Landscape

    4. 6.4 Company Profiles

      1. 6.4.1 Chambal Fertilizers & Chemicals Ltd

      2. 6.4.2 Compo Expert

      3. 6.4.3 Coromandel International Ltd.

      4. 6.4.4 Haifa Group

      5. 6.4.5 Indian Farmers Fertiliser Cooperative Limited

      6. 6.4.6 Israel Chemicals Ltd (SF)

      7. 6.4.7 Joylong Chemicals Co.,Ltd.

      8. 6.4.8 Sociedad Química y Minera (SQM)

      9. 6.4.9 YARA International ltd

      10. 6.4.10 Zuari Agro Chemicals Ltd

  7. 7. KEY STRATEGIC QUESTIONS FOR FERTILIZER CEOS

  8. 8. APPENDIX

    1. 8.1 Global Overview

      1. 8.1.1 Overview

      2. 8.1.2 Porter’s Five Forces Framework

      3. 8.1.3 Global Value Chain Analysis

      4. 8.1.4 Market Dynamics (DROs)

    2. 8.2 Sources & References

    3. 8.3 List of Tables & Figures

    4. 8.4 Primary Insights

    5. 8.5 Data Pack

    6. 8.6 Glossary of Terms

List of Tables & Figures

    Figure 1:  

    ASIA-PACIFIC MARKET, AREA YOY GROWTH RATE, 2016 - 2021

    Figure 2:  

    ASIA-PACIFIC MARKET, AREA YOY GROWTH RATE, 2016 - 2021

    Figure 3:  

    ASIA-PACIFIC MICRONUTRIENT FERTILIZER MARKET, VOLUME, METRIC TON, 2016 - 2028

    Figure 4:  

    ASIA-PACIFIC MICRONUTRIENT FERTILIZER MARKET, VALUE, USD, 2016 - 2028

    Figure 5:  

    ASIA-PACIFIC MICRONUTRIENT FERTILIZER MARKET, BY PRODUCT, VOLUME, METRIC TON, 2016 - 2028

    Figure 6:  

    ASIA-PACIFIC MICRONUTRIENT FERTILIZER MARKET, BY PRODUCT, VALUE, USD, 2016 - 2028

    Figure 7:  

    ASIA-PACIFIC MICRONUTRIENT FERTILIZER MARKET MARKET, SHARE(%), BY PRODUCT, 2016 - 2028

    Figure 8:  

    ASIA-PACIFIC MICRONUTRIENT FERTILIZER MARKET MARKET, SHARE(%), BY PRODUCT, 2016 - 2028

    Figure 9:  

    ASIA-PACIFIC MICRONUTRIENT FERTILIZER MARKET, BY PRODUCT, BORON, METRIC TON, 2016 - 2028

    Figure 10:  

    ASIA-PACIFIC MICRONUTRIENT FERTILIZER MARKET, BY PRODUCT, BORON, USD, 2016 - 2028

    Figure 11:  

    ASIA-PACIFIC MICRONUTRIENT FERTILIZER MARKET MARKET, SHARE(%), BY CROP TYPE, 2016 - 2028

    Figure 12:  

    ASIA-PACIFIC MICRONUTRIENT FERTILIZER MARKET, BY PRODUCT, COPPER, METRIC TON, 2016 - 2028

    Figure 13:  

    ASIA-PACIFIC MICRONUTRIENT FERTILIZER MARKET, BY PRODUCT, COPPER, USD, 2016 - 2028

    Figure 14:  

    ASIA-PACIFIC MICRONUTRIENT FERTILIZER MARKET MARKET, SHARE(%), BY CROP TYPE, 2016 - 2028

    Figure 15:  

    ASIA-PACIFIC MICRONUTRIENT FERTILIZER MARKET, BY PRODUCT, IRON, METRIC TON, 2016 - 2028

    Figure 16:  

    ASIA-PACIFIC MICRONUTRIENT FERTILIZER MARKET, BY PRODUCT, IRON, USD, 2016 - 2028

    Figure 17:  

    ASIA-PACIFIC MICRONUTRIENT FERTILIZER MARKET MARKET, SHARE(%), BY CROP TYPE, 2016 - 2028

    Figure 18:  

    ASIA-PACIFIC MICRONUTRIENT FERTILIZER MARKET, BY PRODUCT, MANGANESE, METRIC TON, 2016 - 2028

    Figure 19:  

    ASIA-PACIFIC MICRONUTRIENT FERTILIZER MARKET, BY PRODUCT, MANGANESE, USD, 2016 - 2028

    Figure 20:  

    ASIA-PACIFIC MICRONUTRIENT FERTILIZER MARKET MARKET, SHARE(%), BY CROP TYPE, 2016 - 2028

    Figure 21:  

    ASIA-PACIFIC MICRONUTRIENT FERTILIZER MARKET, BY PRODUCT, MOLYBDENUM, METRIC TON, 2016 - 2028

    Figure 22:  

    ASIA-PACIFIC MICRONUTRIENT FERTILIZER MARKET, BY PRODUCT, MOLYBDENUM, USD, 2016 - 2028

    Figure 23:  

    ASIA-PACIFIC MICRONUTRIENT FERTILIZER MARKET MARKET, SHARE(%), BY CROP TYPE, 2016 - 2028

    Figure 24:  

    ASIA-PACIFIC MICRONUTRIENT FERTILIZER MARKET, BY PRODUCT, ZINC, METRIC TON, 2016 - 2028

    Figure 25:  

    ASIA-PACIFIC MICRONUTRIENT FERTILIZER MARKET, BY PRODUCT, ZINC, USD, 2016 - 2028

    Figure 26:  

    ASIA-PACIFIC MICRONUTRIENT FERTILIZER MARKET MARKET, SHARE(%), BY CROP TYPE, 2016 - 2028

    Figure 27:  

    ASIA-PACIFIC MICRONUTRIENT FERTILIZER MARKET, BY PRODUCT, OTHERS, METRIC TON, 2016 - 2028

    Figure 28:  

    ASIA-PACIFIC MICRONUTRIENT FERTILIZER MARKET, BY PRODUCT, OTHERS, USD, 2016 - 2028

    Figure 29:  

    ASIA-PACIFIC MICRONUTRIENT FERTILIZER MARKET MARKET, SHARE(%), BY CROP TYPE, 2016 - 2028

    Figure 30:  

    ASIA-PACIFIC MICRONUTRIENT FERTILIZER MARKET, BY APPLICATION MODE, VOLUME, METRIC TON, 2016 - 2028

    Figure 31:  

    ASIA-PACIFIC MICRONUTRIENT FERTILIZER MARKET, BY APPLICATION MODE, VALUE, USD, 2016 - 2028

    Figure 32:  

    ASIA-PACIFIC MICRONUTRIENT FERTILIZER MARKET MARKET, SHARE(%), BY APPLICATION MODE, 2016 - 2028

    Figure 33:  

    ASIA-PACIFIC MICRONUTRIENT FERTILIZER MARKET MARKET, SHARE(%), BY APPLICATION MODE, 2016 - 2028

    Figure 34:  

    ASIA-PACIFIC MICRONUTRIENT FERTILIZER MARKET, BY APPLICATION MODE, FERTIGATION, METRIC TON, 2016 - 2028

    Figure 35:  

    ASIA-PACIFIC MICRONUTRIENT FERTILIZER MARKET, BY APPLICATION MODE, FERTIGATION, USD, 2016 - 2028

    Figure 36:  

    ASIA-PACIFIC MICRONUTRIENT FERTILIZER MARKET, BY APPLICATION MODE, FOLIAR, METRIC TON, 2016 - 2028

    Figure 37:  

    ASIA-PACIFIC MICRONUTRIENT FERTILIZER MARKET, BY APPLICATION MODE, FOLIAR, USD, 2016 - 2028

    Figure 38:  

    ASIA-PACIFIC MICRONUTRIENT FERTILIZER MARKET, BY APPLICATION MODE, SOIL, METRIC TON, 2016 - 2028

    Figure 39:  

    ASIA-PACIFIC MICRONUTRIENT FERTILIZER MARKET, BY APPLICATION MODE, SOIL, USD, 2016 - 2028

    Figure 40:  

    ASIA-PACIFIC MICRONUTRIENT FERTILIZER MARKET, BY CROP TYPE, VOLUME, METRIC TON, 2016 - 2028

    Figure 41:  

    ASIA-PACIFIC MICRONUTRIENT FERTILIZER MARKET, BY CROP TYPE, VALUE, USD, 2016 - 2028

    Figure 42:  

    ASIA-PACIFIC MICRONUTRIENT FERTILIZER MARKET MARKET, SHARE(%), BY CROP TYPE, 2016 - 2028

    Figure 43:  

    ASIA-PACIFIC MICRONUTRIENT FERTILIZER MARKET MARKET, SHARE(%), BY CROP TYPE, 2016 - 2028

    Figure 44:  

    ASIA-PACIFIC MICRONUTRIENT FERTILIZER MARKET, BY CROP TYPE, FIELD CROPS, METRIC TON, 2016 - 2028

    Figure 45:  

    ASIA-PACIFIC MICRONUTRIENT FERTILIZER MARKET, BY CROP TYPE, FIELD CROPS, USD, 2016 - 2028

    Figure 46:  

    ASIA-PACIFIC MICRONUTRIENT FERTILIZER MARKET MARKET, SHARE(%), BY PRODUCT, 2016 - 2028

    Figure 47:  

    ASIA-PACIFIC MICRONUTRIENT FERTILIZER MARKET, BY CROP TYPE, HORTICULTURAL CROPS, METRIC TON, 2016 - 2028

    Figure 48:  

    ASIA-PACIFIC MICRONUTRIENT FERTILIZER MARKET, BY CROP TYPE, HORTICULTURAL CROPS, USD, 2016 - 2028

    Figure 49:  

    ASIA-PACIFIC MICRONUTRIENT FERTILIZER MARKET MARKET, SHARE(%), BY PRODUCT, 2016 - 2028

    Figure 50:  

    ASIA-PACIFIC MICRONUTRIENT FERTILIZER MARKET, BY CROP TYPE, TURF & ORNAMENTAL, METRIC TON, 2016 - 2028

    Figure 51:  

    ASIA-PACIFIC MICRONUTRIENT FERTILIZER MARKET, BY CROP TYPE, TURF & ORNAMENTAL, USD, 2016 - 2028

    Figure 52:  

    ASIA-PACIFIC MICRONUTRIENT FERTILIZER MARKET MARKET, SHARE(%), BY PRODUCT, 2016 - 2028

    Figure 53:  

    ASIA-PACIFIC MICRONUTRIENT FERTILIZER MARKET, BY COUNTRY, VOLUME, METRIC TON, 2016 - 2028

    Figure 54:  

    ASIA-PACIFIC MICRONUTRIENT FERTILIZER MARKET, BY COUNTRY, VALUE, USD, 2016 - 2028

    Figure 55:  

    ASIA-PACIFIC MICRONUTRIENT FERTILIZER MARKET MARKET, SHARE(%), BY COUNTRY, 2016 - 2028

    Figure 56:  

    ASIA-PACIFIC MICRONUTRIENT FERTILIZER MARKET MARKET, SHARE(%), BY COUNTRY, 2016 - 2028

    Figure 57:  

    ASIA-PACIFIC MICRONUTRIENT FERTILIZER MARKET, BY COUNTRY, AUSTRALIA, METRIC TON, 2016 - 2028

    Figure 58:  

    ASIA-PACIFIC MICRONUTRIENT FERTILIZER MARKET, BY COUNTRY, AUSTRALIA, USD, 2016 - 2028

    Figure 59:  

    ASIA-PACIFIC MICRONUTRIENT FERTILIZER MARKET MARKET, SHARE(%), BY CROP TYPE, 2016 - 2028

    Figure 60:  

    ASIA-PACIFIC MICRONUTRIENT FERTILIZER MARKET, BY COUNTRY, BANGLADESH, METRIC TON, 2016 - 2028

    Figure 61:  

    ASIA-PACIFIC MICRONUTRIENT FERTILIZER MARKET, BY COUNTRY, BANGLADESH, USD, 2016 - 2028

    Figure 62:  

    ASIA-PACIFIC MICRONUTRIENT FERTILIZER MARKET MARKET, SHARE(%), BY CROP TYPE, 2016 - 2028

    Figure 63:  

    ASIA-PACIFIC MICRONUTRIENT FERTILIZER MARKET, BY COUNTRY, CHINA, METRIC TON, 2016 - 2028

    Figure 64:  

    ASIA-PACIFIC MICRONUTRIENT FERTILIZER MARKET, BY COUNTRY, CHINA, USD, 2016 - 2028

    Figure 65:  

    ASIA-PACIFIC MICRONUTRIENT FERTILIZER MARKET MARKET, SHARE(%), BY CROP TYPE, 2016 - 2028

    Figure 66:  

    ASIA-PACIFIC MICRONUTRIENT FERTILIZER MARKET, BY COUNTRY, INDIA, METRIC TON, 2016 - 2028

    Figure 67:  

    ASIA-PACIFIC MICRONUTRIENT FERTILIZER MARKET, BY COUNTRY, INDIA, USD, 2016 - 2028

    Figure 68:  

    ASIA-PACIFIC MICRONUTRIENT FERTILIZER MARKET MARKET, SHARE(%), BY CROP TYPE, 2016 - 2028

    Figure 69:  

    ASIA-PACIFIC MICRONUTRIENT FERTILIZER MARKET, BY COUNTRY, INDONESIA, METRIC TON, 2016 - 2028

    Figure 70:  

    ASIA-PACIFIC MICRONUTRIENT FERTILIZER MARKET, BY COUNTRY, INDONESIA, USD, 2016 - 2028

    Figure 71:  

    ASIA-PACIFIC MICRONUTRIENT FERTILIZER MARKET MARKET, SHARE(%), BY CROP TYPE, 2016 - 2028

    Figure 72:  

    ASIA-PACIFIC MICRONUTRIENT FERTILIZER MARKET, BY COUNTRY, JAPAN, METRIC TON, 2016 - 2028

    Figure 73:  

    ASIA-PACIFIC MICRONUTRIENT FERTILIZER MARKET, BY COUNTRY, JAPAN, USD, 2016 - 2028

    Figure 74:  

    ASIA-PACIFIC MICRONUTRIENT FERTILIZER MARKET MARKET, SHARE(%), BY CROP TYPE, 2016 - 2028

    Figure 75:  

    ASIA-PACIFIC MICRONUTRIENT FERTILIZER MARKET, BY COUNTRY, PAKISTAN, METRIC TON, 2016 - 2028

    Figure 76:  

    ASIA-PACIFIC MICRONUTRIENT FERTILIZER MARKET, BY COUNTRY, PAKISTAN, USD, 2016 - 2028

    Figure 77:  

    ASIA-PACIFIC MICRONUTRIENT FERTILIZER MARKET MARKET, SHARE(%), BY CROP TYPE, 2016 - 2028

    Figure 78:  

    ASIA-PACIFIC MICRONUTRIENT FERTILIZER MARKET, BY COUNTRY, PHILIPPINES, METRIC TON, 2016 - 2028

    Figure 79:  

    ASIA-PACIFIC MICRONUTRIENT FERTILIZER MARKET, BY COUNTRY, PHILIPPINES, USD, 2016 - 2028

    Figure 80:  

    ASIA-PACIFIC MICRONUTRIENT FERTILIZER MARKET MARKET, SHARE(%), BY CROP TYPE, 2016 - 2028

    Figure 81:  

    ASIA-PACIFIC MICRONUTRIENT FERTILIZER MARKET, BY COUNTRY, THAILAND, METRIC TON, 2016 - 2028

    Figure 82:  

    ASIA-PACIFIC MICRONUTRIENT FERTILIZER MARKET, BY COUNTRY, THAILAND, USD, 2016 - 2028

    Figure 83:  

    ASIA-PACIFIC MICRONUTRIENT FERTILIZER MARKET MARKET, SHARE(%), BY CROP TYPE, 2016 - 2028

    Figure 84:  

    ASIA-PACIFIC MICRONUTRIENT FERTILIZER MARKET, BY COUNTRY, VIETNAM, METRIC TON, 2016 - 2028

    Figure 85:  

    ASIA-PACIFIC MICRONUTRIENT FERTILIZER MARKET, BY COUNTRY, VIETNAM, USD, 2016 - 2028

    Figure 86:  

    ASIA-PACIFIC MICRONUTRIENT FERTILIZER MARKET MARKET, SHARE(%), BY CROP TYPE, 2016 - 2028

    Figure 87:  

    ASIA-PACIFIC MICRONUTRIENT FERTILIZER MARKET, BY COUNTRY, REST OF ASIA-PACIFIC, METRIC TON, 2016 - 2028

    Figure 88:  

    ASIA-PACIFIC MICRONUTRIENT FERTILIZER MARKET, BY COUNTRY, REST OF ASIA-PACIFIC, USD, 2016 - 2028

    Figure 89:  

    ASIA-PACIFIC MICRONUTRIENT FERTILIZER MARKET MARKET, SHARE(%), BY CROP TYPE, 2016 - 2028

    Figure 90:  

    ASIA-PACIFIC MICRONUTRIENT FERTILIZER MARKET, MOST ACTIVE COMPANIES, BY NUMBER OF STRATEGIC MOVES, 2018 - 2021

    Figure 91:  

    ASIA-PACIFIC MICRONUTRIENT FERTILIZER MARKET, MOST ADOPTED STRATEGIES, 2018 - 2021

    Figure 92:  

    ASIA-PACIFIC MICRONUTRIENT FERTILIZER MARKET SHARE(%), BY MAJOR PLAYERS, 2021

Market Definition

  • AVERAGE NUTRIENT APPLICATION RATE - This refers to the average volume of nutrient consumed per hectare of farmland in each country.
  • CROP TYPES COVERED - Field Crops: Cereals, Pulses, Oilseeds, Fiber Crops, and Forage Crops, Horticulture: Fruits, Vegetables, Plantation Crops and Spices, Turf Grass and Ornamentals
  • MARKET ESTIMATION LEVEL - Market Estimations for various types of fertilizers has been done at the product-level and not at the nutrient-level.
  • NUTRIENT TYPES COVERED - Micronutients: Zn, Mn, Cu, Fe, Mo, B, and Others

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Research Methodology

Mordor Intelligence follows a four-step methodology in all our reports.

  • Step-1: Identify Key Variables: In order to build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built on the basis of these variables.
  • Step-2: Build a Market Model: Market-size estimations for the forecast years are in nominal terms. Inflation is not a part of the pricing, and the average selling price (ASP) is kept constant throughout the forecast period for each country.
  • Step-3: Validate and Finalize: In this important step, all market numbers, variables and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
  • Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms

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Frequently Asked Questions

The Asia-Pacific Micronutrient Fertilizer Market market is studied from 2016 - 2028.

The Asia-Pacific Micronutrient Fertilizer Market stood at 1.58 billion USD in 2022 and is projected to register a CAGR of 5.31% to reach 2.16 billion USD in 2028.

Zinc is the most applied micronutrient fertilizer because of increasing zinc deficiencies in the soils of major growing regions. The application of zinc is proven to give higher yields.

Alkaline soils with high pH, coupled with the degrading health and quality of soils, are leading to the deficiency of iron. Hence, with the increasing demand for high-yield crop production, there is a rising need for iron.

Field crops are the most-widely grown crops in the region, as most of them are considered staple food and can feed the increasing populations in the countries in the region.

The usage of micronutrient fertilizers has increased as the Indian soils are deficient in boron (47%), iron (37%), and zinc (39%), according to the Centre for Science and Environment.

Chambal Fertilizers & Chemicals Ltd,Coromandel International Ltd.,Israel Chemicals Ltd (SF),Sociedad Química y Minera (SQM) and YARA International ltd. are the major companies operating in Asia-Pacific Micronutrient Fertilizer Market.