Feb 5, 2019   SOURCE: BusinessWire

Chemical Fertilizers - Global Market Opportunities & Strategies to 2022: A $121.3 Billion-Projected Market - ResearchAndMarkets.com

The "Chemical Fertilizers Global Market Opportunities And Strategies To 2022" report has been added to ResearchAndMarkets.com's offering.

This report describes and evaluates the global market for chemical fertilizers. It covers two five-year periods, 2014 to 2018, termed the historic period, and 2018 through 2022, the forecast period. This report covers only chemical fertilizers, defined as synthetically manufactured fertilizers.

The global market for chemical fertilizers reached a value of nearly $104.9 billion in 2018, having declined at a compound annual growth rate (CAGR) of -3.3% since 2014. The market is expected to grow at a CAGR of +3.7% to nearly $121.3 billion by 2022.

Such growth as there was in the historic period resulted from growth in emerging markets, government support, a low interest environment, government subsidies and intensive farming techniques. Factors that negatively affected growth in the historic period were safety regulations, erratic rainfall, overcapacity in food production, and rising prices for natural gas.

Going forward, global population growth, economic growth, and adoption of advanced technologies will drive growth. Factors that could hinder the growth of this market in the future are rising interest rates, reductions in free trade, soil erosion, government regulations, increasing use of bio-fertilizers, alternative farming practices, and rising demand for organic food products.

The market can be segmented by type of nutrient into nitrogen, phosphate and potash. In terms of value, nitrogen accounted for the largest share of the fertilizers market in 2018 at 53.6%. The potash market is expected to be the fastest-growing segment going forward at a CAGR of 5.1%. Major drivers of the potash market segment include economic growth and the adoption of advanced technologies.

The nitrogen fertilizers market can be further segmented by type into urea, nitrogen - ammonium phosphate, nitrogen - others (other nitrogen fertilizers), nitrogen - NPK, ammonium sulphate, and calcium ammonium nitrate. In terms of volume, urea accounted for the largest share of the nitrogen market in 2018 at 46.4%. The urea segment is expected to decline at a CAGR of -0.1%.

The phosphate fertilizers market can be further segmented by type into SSP, TSP, phosphate - ammonium phosphate, phosphate - NPK, and phosphate - Others (other phosphate fertilizers),. In terms of volume, phosphate - ammonium phosphate accounted for the largest share of the phosphate market by type in 2018, at 50.3%.

The potash fertilizers market can be further segmented by type into potassium chloride, potassium sulphate, potash-NPK, and potash-others (other potash based fertilizers). In terms of volume, potassium chloride accounted for the largest share of the potash market by type in 2018, at 56.4%.

The fertilizers market in this report is also segmented by the use of fertilizers in the cultivation of crops such as cereals, oilseeds, fruits, vegetables, and others. From 2014 to 2018 the largest segment of the market segmented by type of crop was fertilizers used for growing cereals and the fastest-growing segment was for growing oilseeds.

The fertilizers market in this report is also segmented by application into broadcasting, drop spreading/placement, fertigation and foliar spray. From 2014 to 2018 the largest segment of the market segmented by methods of application was by broad casting and the fastest-growing segment was fertigation.

The fertilizers market is fairly fragmented; this is mainly due to the large number of small entities which are focused on local markets and the variety of competitors offering different products in the market, which has low barriers to entry. However, small numbers of large entities command significant market shares. The top five competitors in the market made up 33.0% of the total market in 2017. Major players in the market are Nutrien Ltd., Yara International, The Mosaic Company, CF Industries Holdings Inc., and Israel Chemicals ltd.

The global chemicals market, of which the fertilizers market is a segment, reached a value of nearly $3,375.8 billion in 2018, having grown at a CAGR of 1.0% since 2014, and is expected to grow at a CAGR of 5.9% to nearly $4,241.6 billion by 2022. Fertilizers were the tenth largest segment in 2018, accounting for 3.1% of the chemicals market, at $104.9 billion.

The ethyl alcohol and other basic organic chemicals market is the largest segment of the global chemicals market, accounting for 26.5% of the total, worth $893.8 billion. This segment has grown at a CAGR of 0.8% during the historic period. It is expected to grow at a CAGR of 4.6% during the forecast period. The plastic material and resins segment was the second largest, accounting for 15.1% of the global chemicals market, worth $509.6 billion.

Companies Mentioned

  • Bunge Ltd.
  • CF Industries Holdings Inc.
  • Coromandel International Ltd.
  • Eurochem Inc.
  • Israel Chemicals Ltd.
  • Nutrien Ltd.
  • Sinofert Holdings Ltd.
  • The Mosaic Company
  • Uralkali
  • Yara International

For more information about this report visit https://www.researchandmarkets.com/research/dg9glb/chemical?w=4