The European fertilizer industry is seen to grow at a steady rate of 2.5% 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 high export demand of food products from the region are primarily driving the fertilizer market growth. Moreover, the European Union supports the responsible use of fertilizers in the region. While the potential of growth is comparatively high with product innovations and demand for healthy, nutrient rich foods, the demand would be restricted on the growing application of organic fertilizers and regulatory constraints.
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 European fertilizers market demand is led by export oriented agricultural countries like- Germany, France and United Kingdom. Italy and other European countries 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 global players accounting for substantial market share in Europe are Agrium, Yara International, Eurochem, Bunge ltd., Potash Corp, CF Industries Etc. Geographical expansion with country specific product innovations is the major strategy followed by market players.
In this report we offer,