Global Complex Fertilizers Market – Overview
Complex or compound fertilizers, the fertilizers formed by blending together two or more kinds of macronutrient fertilizers, are used as a way of providing crops the appropriate level of fertility. The complex fertilizers market has expanded at a promising pace in the past years and continues to exhibit a steady growth rate as factors such as rising industrialization, urbanization, rise in energy consumption, and conversion of arable lands into commercial landscapes are making the need for provision of proper fertility to arable lands more pressing.
Farmers are being educated regarding the use of proper fertilizers depending on the nutrient makeup of the soil, the crop being planted, and the kinds of pests most commonly affecting crops in their surroundings as proper fertility of the soil is an important aspects ensuring sustainable agricultural production. The market is expected to expand at a promising pace in the next few years as well. This report provides an account of the factors that will influence the growth prospects of the market the most.
Global Complex Fertilizers Market – Trends and Opportunities
One of the key factors driving the global complex fertilizers market is the rising global population and the consecutive need to attain sustainable agricultural produces. The massive rise in global population and urban settings and the consecutive decline in arable land are resulting in a scenario where the demand for food products is straining the present agricultural yield trends. The scenario is much more demanding in developing countries across regions such as Asia Pacific, Latin America, and Africa, which, owing to the increased focus on industrial development as a way to progress economically, require millions of hectares of land if the food demands of the rising population are to be met.
Besides, mass deforestation for setting up industrial, residential, and commercial locales are also leading to the destruction of vast areas of arable lands, thereby negatively affecting the overall production capacity of countries in these regions. To ease the situation and bring about an improvement in the productivity of whatever arable land is available, the demand for complex fertilizers is likely to rise. However, the rising demand for organic fertilizers and stringent regulations that have banned several harmful fertilizers in several regions and countries could hamper the growth prospects of the market to a certain extent.
Global Complex Fertilizers Market – Geographical and Competitive Dynamics
From a geographical standpoint, the report examines the global complex fertilizers market in regions such as North America, Asia Pacific, Europe, Middle East and Africa, and Latin America. Asia Pacific is one of the most lucrative regions for the complex fertilizers market. The regional market is predicted to register a promising CAGR over the period. Factors such as vast population, constant erosion of arable lands, increased awareness among farmers regarding the available fertilizers and their proper usages, and the rising demand for advanced irrigation systems are expected to be the key driving forces of the Asia Pacific complex fertilizers market over the said period. China’s role as a leading producer as well as consumer of complex fertilizers is also likely to work well in favor of the regional market over the report’s forecast period.
Global Complex Fertilizers Market: Key Players
Some of the leading companies operating in the global complex fertilizers market are Yara International ASA, The Mosaic Company, Potash Corporation of Saskatchewan Inc., PJSC PhosAgro, CF Industries Holdings Inc., Haifa Chemicals Ltd., Israel Chemicals Limited, Adventz Group, and Eurochem Group AG.