Market Trends of russia specialty fertilizer Industry
This section covers the major market trends shaping the Russia Specialty Fertilizer Market according to our research experts:
Water Soluble is the largest segment by Speciality Type.
- The water-soluble fertilizer market in Russia was valued at USD 935.6 million in 2021, with a volume of 1.4 million metric tons. Water-soluble fertilizers were the largest consumed specialty fertilizers in terms of volume and occupied a share of 55.0% in 2021.
- However, water-soluble fertilizers accounted for a share of 54.0% in terms of value in the same year due to a difference in the price of liquid and water-soluble fertilizers in the country. For instance, in 2022, the price of liquid diammonium phosphate (DAP) in Russia was estimated at USD 4,775.0 per metric ton compared to USD 4,756.0 per metric ton of water-soluble DAP fertilizer in the same year.
- Russia is the second-largest market for the consumption of liquid fertilizers in the region, accounting for a share of 8.0% of the total liquid fertilizer market in Europe. The country consumed 1.1 million metric tons of liquid fertilizers worth USD 740.6 million in 2021.
- The controlled-release fertilizer market observed stable growth during the study period. Field crops dominated the market by occupying a share of 91.4%, followed by horticultural crops in 2021.
- The slow-release fertilizer market in Russia was valued at USD 21.4 million in 2022, with a volume of 24.5 thousand metric tons. The market is projected to record a value of USD 27.9 million by 2028 due to the economic and ecological benefits of slow-release fertilizers.
- Owing to the advantages of using specialty fertilizers, like a decreased rate of application, the precise release of nutrients, and other economic benefits to the farmer, the specialty fertilizer market in Russia is anticipated to grow during the forecast period.
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