March 28, 2023

The global complex fertilizers market size is projected to grow during the projected period due to the cost-effectiveness and easier-to-apply properties of these fertilizers. Fortune Business Insights™ provides this information in an upcoming report titled, Complex Fertilizers Market, 2022-2029″.

Complex fertilizers contain more than two primary nutrients where two of the primary nutrients undergo chemical reactions. These fertilizers are introduced to overcome the disadvantages of individual fertilizers. Increasing demand for economical fertilizers in developed and developing countries is expected to drive the market during the forecast period.

COVID-19 Impact:

Supply Chain Disruptions Amid Pandemic To Restrict Market Growth

The COVID-19 pandemic has severely affected the complex fertilizer market growth in the past few years. The restrictions imposed by central and local government has created a huge impact on the supply chain of the companies. Revised import/export policies have restricted the supply of raw materials and disrupted the delivery of finished goods. The key players in the industry have faced a sudden decline in their product demand and supplies due to the stringent restrictions imposed by the government. The fertilizer industry has shown resilience in the supply chain during the crisis.

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By type, the market is bifurcated into incomplete and complete fertilizers. The incomplete type is divided into diammonium phosphate, monopotassium phosphate, potassium nitrate, and others. Further, the complete type is segmented into NPK (10-26-26), NPK (12-32-16), NPK (15-15-15), and others.

Based on the form, the market is divided into solid and liquid.

Geographically, the market is categorized into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

Report Coverage: 

The complex fertilizers market report provides complete statistical data and factual information regarding market growth opportunities and potential development scope. Also, the impact of COVID-19 pandemic on the global market is highlighted further in this report along with recent trends and developments adopted by the industry. Drivers and restraints affecting market growth and expansion are elaborated further in the report. A list of prominent market players along with their business development strategies and new product launches are highlighted in the report.

Drivers & Restraints:

Availability of Cost-Effective Fertilizers to Propel Market Growth   

The complex fertilizers market is anticipated to witness a higher growth rate due to rising demand for food security and hygienic alternatives. The agriculture industry is more likely to adopt natural and easy-to-apply fertilizers which are expected to boost the market during the forecast period. Furthermore, the cost-effective property of these fertilizers is the major driving factor to ensure market growth and expansion in the coming years. These factors are likely to ensure complex fertilizers market growth during the forecast period.

However, fluctuation in the prices of raw materials and the rising presence of organic fertilizers may hinder market growth.

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Regional Insights:

Asia Pacific Dominates Global Market Due to Emerging Agriculture Industry  

Asia Pacific is expected to hold the highest global complex fertilizers market share during the forecast period owing to the growing activities in the agriculture sector. The presence of agriculture-intensive economies in developing countries is likely to boost product demand and propel market growth. The regional government is also encouraging farmers to adopt these fertilizers in their agriculture practices to ensure higher yields. These factors are expected to drive regional market growth.

Competitive Landscape:

Strategic Acquisitions Allow Companies to Expand Their Business Reach

Key market players in the industry focus on creating strategic alliances and partnerships with the supporting organizations to expand their business globally. Also, implementing innovative product development and designing ideas allows companies to enhance their product portfolio and attract global customers. Furthermore, increasing their production rate will ensure an improved revenue generation rate and profitability for the companies.

Industry Developments:

  • January 2021: Balcom Co. Ltd a Japanese company bought a minor stake in one of Uzbekistan’s largest producers of complex fertilizer companies Ifoda Agro Kimyo Himyo. The company bought the stakes by investing USD 10 million in the company.

List of Key Players Profiled in the Report:

  • CF Industries Holdings Inc. (U.S.)
  • Yara International ASA (Norway)
  • The Mosaic Company (U.S.)
  • EuroChem Group AG (Switzerland)
  • Potash Corporation (Canada)
  • PhosAgro (Russia)
  • Agrium Inc. (Canada)
  • Israel Chemicals Limited (Israel)
  • Sociedad Quimica y Minera de Chile (Chile)
  • Haifa Chemicals Ltd. (Israel)
  • Helena Chemical Company (U.S.)

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