The global liquid fertilizer market estimated at USD XX million in 2017 is projected to reach USD XX million by 2022 at a CAGR of 3.1%. The latest news of a possible merger between the two Canadian fertilizer giants Agrium Inc. and Potash Corp. of Saskatchewan Inc. would result in a crop nutrient giant worth USD 27 billion.
Global Liquid Fertilizers Market Dynamics
Liquid fertilizers are the most efficient way of delivering the required nutrients to plants at the correct time and in optimal concentration. Some of the major factors driving the market are the demand for increased crop yield to feed the expanding population, need for high-efficiency organic fertilizers, easy usage and application of liquid fertilizers and adoption of sustainable agricultural practices by farmers. Restrictions in the supply chain, increasing concerns over health and environmental degradation, the high cost of handling and storage, inadequate awareness among the farmers and strict regulatory framework are some of the restraints of the market. Major opportunities for market growth lie in the emerging economies of the developing countries.
Global Liquid Fertilizers Market Segmentation
Based on the nutrient type the market is segmented into nitrogen, potassium, phosphate and micronutrients.
On basis of the major ingredients, the organic liquid fertilizers are expected to grow at a faster pace than the synthetic fertilizers. The foliar application of liquid fertilizers is the most commonly used method as it helps in neutralizing soil conditions, enhance plant growth, and increase the rate of nutrient absorption as compared to the other methods of fertilizer application.
Asia-Pacific is the largest and fastest growing market due to its increasing population, growing economy and extensive support from government and other agencies to maximize agricultural production to meet food demands. North America is the second largest liquid fertilizer market followed by Europe and South America.
Key Players in the Global Liquid Fertilizers Market
The major companies in the sector include:
Recent Industry Insights
Top companies are making strategic investments in the liquid fertilizer markets. Tessenderlo Groups business unit Tessenderlo Kerley International (TKI) has been continuously expanding its capacity of liquid sulfur-based fertilizers in the US. Most recently, it has made a strategic investment in liquid fertilizers in Europe to strengthen its market position by constructing a Thio-Sul® (ammonium thiosulphate / ATS) manufacturing plant in France which is due for operation in 2017, indicating the high demand of liquid fertilizers in the coming years.
Key Deliverables in the Study
The report holds importance for the following stakeholders-